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  • Offshore Risks

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    tonychadha
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    Offshore outsourcing risks include strategic risks like loss of control and knowledge, security and data risks from differing laws and regulations, cultural incompatibility influencing results, and financial risks from cost and currency fluctuations. These risks can be mitigated through extensive reviews of countries and vendors, guidelines and controls on data access, contracts to hold vendors liable, management oversight and training to address cultural issues, and financial tools to manage costs.

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    Offshore outsourcing risks include strategic risks like loss of control and knowledge, security and data risks from differing laws and regulations, cultural incompatibility influencing results, and financial risks from cost and currency fluctuations. These risks can be mitigated through extensive reviews of countries and vendors, guidelines and controls on data access, contracts to hold vendors liable, management oversight and training to address cultural issues, and financial tools to manage costs.

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    27 views1 page

    Offshore Risks

    Uploaded by

    tonychadha
    Offshore outsourcing risks include strategic risks like loss of control and knowledge, security and data risks from differing laws and regulations, cultural incompatibility influencing results, and financial risks from cost and currency fluctuations. These risks can be mitigated through extensive reviews of countries and vendors, guidelines and controls on data access, contracts to hold vendors liable, management oversight and training to address cultural issues, and financial tools to manage costs.

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    Attribution Non-Commercial (BY-NC)
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    of 1

    Incremental Offshore Risks

    Risks What Are the Risks Risk Mitigation


    Strategic Risks • Offshoring in areas which are not core
    • Loss of control over future business decisions. competence.
    • Loss of knowledge and intellectual property. • Extensive country and vendor reviews
    • Business continuity risk including Geo-Political conducted.
    and Vendor related risks
    Security, Data Confidentiality & Compliance Risks • Guidelines and Controls
    • Other initiatives as part of Sourcing
    enablement.
    • Working with Legal Team to contractually
    hold vendor liable for the misuse and
    disclosure of data.
    Cultural Incompatibility influencing Results and • Effective management oversight, clear
    Benefits communication lines, robust training plans
    and strong governance structure.
    Legal Risks • Effective contracts based on best practices
    • Laws and regulations differ across the world and and past experience.
    may not provide sufficient remedies.
    Financial Risks: • Appropriate financial tools to manage risk.
    • Cost and Currency fluctuations

    The Capital Group Companies

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