| PRESS RELEASE |
| FS Outsourcing publishes guide to diagnosis and repair of troubled outsourcing projects authored by Argea and Brown Raysman Millstein Felder & Steiner |
| 31-Jan-2005 |
Argea Joins With Prominent Law Firm to Evaluate Common Outsourcing Problems and Define User-Friendly Remedies Princeton, NJ (PRWEB) January 31, 2005 – Argea announced today the joint publication of When Projects Go South, a detailed analysis of the common mistakes in outsourcing and solutions that can turn troubled outsourcing projects into high performance drivers of business value. The paper, published in the January 2005 edition of FS Outsourcing, evaluates the root causes of troubled outsourcing projects and proposes solutions that can turn around underperforming or failing outsourcing initiatives. For the project, Argea teamed with Brown Raysman Millstein Felder & Steiner, a law firm with strong legal credentials in outsourcing. Research consistently points to five common, and costly, problem areas in outsourcing. This conclusion is solidly confirmed in a recent survey conducted by Argea and IACCM. Said Ram Iyer, CEO of Argea and coauthor of the article, “The fact that companies across industries, and of different sizes, are making the same mistakes speaks to the nascent state of outsourcing. This is seen in the ‘learning by doing’ approach to outsourcing that many firms are taking.” Among the typical causes of underperformance or failure, the most important is that senior managers don’t realize that outsourcing is a new way of doing business which requires competence in a set of highly specialized outsourcing disciplines. Another recurring problem is denial, in which problems are not recognized or addressed until very late in the delivery cycle, which threatens business performance. The paper’s authors believe that the keys to successful turnarounds in outsourcing are executive commitment to success and adopting a strategic view. Managers, they suggest, must take steps to solve problems, rather than creating new ones or forsaking outsourcing advantages altogether. The authors concluded that, by avoiding the usual mistakes through expert guidance, companies can reap the full return from outsourcing and achieve business outcomes while effectively managing risk. About Argea Argea |