Merits of outsourcing non-core functions

TO punch above their weight in today's fiercely competitive business landscape, companies need to be nimble, agile and adaptable. This means optimising operations and devoting resources to where they matter most.

Against this backdrop, companies are streamlining non-core functions such as human resources and finance. However, managing a lean "back office" team has to be balanced against ensuring there are sufficient quality and qualified resources to comply with the ever-changing and challenging regulatory landscape.

According to EY's Seizing the opportunity in Global Compliance and Reporting, Survey and Trends report, 67 per cent of companies polled indicated that changes in regulatory requirements have posed significant challenges on their compliance processes.