This article-style case study describes how an interim mandate in APAC finance operations grew into a global programme to improve shared services and business process outsourcing (BPO) performance. The sequencing matters: early regional traction in APAC created the confidence and momentum for a wider success scope.
Phase 1 — APAC Finance Operations Transformation
The engagement began as an interim vCXO placement in APAC Finance Operations for a global insurer. Country-by-country variation, manual workflows and low automation had made efficiency and consistency hard to achieve. BPO was used more extensively in other regions, while APAC relied on localised processing and disparate tools. Our first task was to steady operations, align stakeholders, and build a common view of goals and benefits.
We took a people-first approach. After remote introductions, a regional tour enabled frank discussions with executives, operational leaders and finance teams. That listening phase surfaced quick wins for local teams and identified where APAC could benefit from proven practices and shared services already working elsewhere. The momentum from these early steps set the stage for broader change.
APAC: What We Changed and Why It Worked
- Governance and alignment: Direct communication lines with decision makers and budget holders created clarity on objectives and success measures.
- Process credibility: Quick wins demonstrated value and unlocked collaboration on deeper changes.
- Strategic lens: We framed opportunities to dovetail some of APAC’s operations with the global shared services model, without losing localisation.
With tangible progress in APAC and leadership buy‑in, the remit expanded beyond the region to address global shared services performance.
Phase 2 – Global Shared Services BPO Performance Uplift
On taking the global brief, the vCXO focused on the health of BPO partnerships, a core pillar of the shared services model. Performance had declined: just 88% of SLAs were green, with multiple reds, and process transitions to BPO had stalled in the face of rising attrition and eroding confidence.
We initiated a structured review with each country using BPO services to capture pain points, perform root‑cause analysis, and map the technology and process landscape. Relationship building with decision makers and operational leads enabled prioritised change and realistic transition planning.
Targeted Workstreams
People
Challenge: Attrition in BPO teams had exceeded 50%, with skills mismatches and limited development pathways.
Response: Smarter hiring emphasised native language capability and critical thinking. Reward and recognition were refreshed, and structured training and career planning introduced.
Process
Challenge: Few standardised processes; transitions were driven by headcount arbitrage rather than re‑engineering.
Response: Business units appointed process owners and adopted continuous improvement. Transitions were paired with re‑engineering before, during or after migration. A global Centre of Excellence (CoE) provided methods, oversight and expertise in support of change.
Technology
Challenge: Disparate local systems limited scale and automation.
Response: A coordinated finance operations technology strategy aligned with Group Innovation introduced core platforms, piloted Robotic Process Automation (RPA), and set plans for critical legacy systems.
BPO Partners
Challenge: Fixed‑scope allocations dulled competition and fostered complacency; SLAs lacked outcome focus; some third‑party components were unnecessary.
Response: We refreshed the SLA framework to track meaningful outcomes, negotiated contracts to broaden scope and delivery options, and removed redundant elements – re‑energising partner dynamics and enabling a flexible mix of near‑ and off‑shore models.
Stakeholders
Challenge: Relationship owners were absorbed by day‑to‑day firefighting; confidence in BPO had waned and a blame culture had emerged.
Response: Early, visible results rebuilt trust. Empowered process ownership and joint improvement initiatives shifted the focus to sustained performance and innovation.
Outcomes – From Recovery to Reliability
The combined programme delivered measurable impact:
- BPO attrition reduced to 26%.
- SLA performance rose from 88% green to 98% green with zero reds.
- Internal Net Promoter Score (NPS) improved by 44 points.
- RPA pilots and process redesign delivered cost and quality gains.
- Engagement improved across business units and BPO partners, and transition planning had renewed confidence
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Takeaway – Sustainable Finance Operations Transformation
There is no single lever for transformation. Results came from listening first, building alignment, and then combining targeted people, process, technology and commercial changes. The APAC mandate proved the approach; the global BPO uplift scaled it. The outcome was a significantly enhanced shared services model positioned for continuous improvement as a cultural element.
