"Accounting Outsourcing" Has Just Been Redefined

PricewaterhouseCoopers and BP Amoco announced this week a 10 year outsourcing contract transferring much of the energy giant's back office and accounting work to PWC. The deal is worth over $1 billion.

Over 1200 BP Amoco employees in the company's Accounting and Application Systems Shared Services Group will join PWC's new Centre of Excellence outsourcing outfit, and will provide services to BP Amoco as well as other multi-national organizations.

By trimming its internal accounting operations and re-deploying 1200 employees to PWC, BP Amoco will be able to better focus on its core business, increase operating efficiencies, and achieve strategic business goals.

PWC gains experienced employees -- critical to their ongoing growth -- whose background can be leveraged for other multi-national clients.

The importance of this announcement is that it shows a renewed effort on the part of mult-national corporations to make cost savings a part of the ongoing business strategy, not just an occasional effort. It further acknowledges the desire for both large and small corporations alike to focus on what they do best, and outsource the rest.

You may like these other stories...

Here's a CPA who truly walks the walk. On March 15, Frank Ryan, CPA, departed San Diego, California, with plans to be in Ocean City, Maryland, by July 2 to teach a course at the Maryland Association of CPAs’ (MACPA...
When Theodore J. Flynn first joined the Massachusetts Society of CPAs (MSCPA) in 1970, it was a different world and a different profession.  The "Big Eight" were still headquartered in Boston. Vietnam War...
Accountant Rickey Charles Goodrich had it a little too good. Many bean counters would kill to serve as financial guru to the likes of Pearl Jam. Goodrich was hired in 2005, and the following year, he became the CFO of Curtis...

Upcoming CPE Webinars

Jul 23
We can’t deny a great divide exists between the expectations and workplace needs of Baby Boomers and Millennials. To create thriving organizational performance, we need to shift the way in which we groom future leaders.
Jul 24
In this presentation Excel expert David Ringstrom, CPA revisits the Excel feature you should be using, but probably aren't. The Table feature offers the ability to both boost the integrity of your spreadsheets, but reduce maintenance as well.
Jul 31
In this session Excel expert David Ringstrom helps beginners get up to speed in Microsoft Excel. However, even experienced Excel users will learn some new tricks, particularly when David discusses under-utilized aspects of Excel.
Aug 5
This webcast will focus on accounting and disclosure policies for various types of consolidations and business combinations.