Outsourcing financial services in Finland by small and mid-sized companies
Koirala, Sudarshan; Khan, Mahfuj Alam (2013)
Arcada - Nylands svenska yrkeshögskola
2013
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-2013121621391
https://urn.fi/URN:NBN:fi:amk-2013121621391
Tiivistelmä
Outsourcing is the act of transferring company’s recurring internal non-core activities and decision rights to outside providers. It is assumed as boon for small and mid-sized companies to reduce and control their extra costs and to increase overall performance and efficiency. As the business environment continues to change rapidly and competition becomes more intense, small and mid-sized companies focus more on specializing on their core competencies and outsourcing their non-core activities to external service providers to stay competitive. In other words, Outsourcing has enabled small and mid-sized companies to stay competitive by outsourcing their non-core activities and providing flexibility to concentrate more on their core values.
The main purpose of this Bachelor Thesis is to categorize the possible motivating factors that have driven small and mid-sized companies to subcontract their financial services and also to discover the benefits and impacts of outsourcing from the company’s perspective. In the theoretical part, the concepts of outsourcing, the objectives, benefits, risks and impacts of outsourcing are reviewed. In addition, this research work has also discussed about the various types of outsourcing (mainly focused on financial service outsourcing), outsourcing process, necessary precautions during each stages of outsourcing has also been explained. Moreover, it has also covered areas like accounting requirements in Finland, different forms of business in Finland and their features and legal requirements.
Thesis employs quantitative research methodology and data are obtained by using survey which then is analyzed with the help of statistical tools and charts. The empirical part of the study describes the questionnaire which was designed on the basis of research objectives. In the end, based on the gathered information, the objectives of outsourcing, the benefits of outsourcing, impacts of outsourcing on the company and the situation of financial services outsourcing in Finland has been deliberated and conclusion is made.
The main purpose of this Bachelor Thesis is to categorize the possible motivating factors that have driven small and mid-sized companies to subcontract their financial services and also to discover the benefits and impacts of outsourcing from the company’s perspective. In the theoretical part, the concepts of outsourcing, the objectives, benefits, risks and impacts of outsourcing are reviewed. In addition, this research work has also discussed about the various types of outsourcing (mainly focused on financial service outsourcing), outsourcing process, necessary precautions during each stages of outsourcing has also been explained. Moreover, it has also covered areas like accounting requirements in Finland, different forms of business in Finland and their features and legal requirements.
Thesis employs quantitative research methodology and data are obtained by using survey which then is analyzed with the help of statistical tools and charts. The empirical part of the study describes the questionnaire which was designed on the basis of research objectives. In the end, based on the gathered information, the objectives of outsourcing, the benefits of outsourcing, impacts of outsourcing on the company and the situation of financial services outsourcing in Finland has been deliberated and conclusion is made.