April 20, 2015

CIMA and The Hackett Group to Collaborate On Professional Development Offering For Global Business Services & Shared Services Organizations

  • Collaboration Combines Hackett's GBS Best Practice Intellectual Property With CIMA's Certificated Global Professional Development Programs

MIAMI & LONDON, April 20, 2015 - CIMA, The Chartered Institute of Management Accountants, and The Hackett Group, Inc. (NASDAQ: HCKT) have announced a strategic collaboration that will bring to market the first comprehensive talent management and professional development qualification program specifically tailored for Global Business Services (GBS) and shared services professionals.

By working together, The Hackett Group and CIMA are seeking to respond to the clear need for GBS and shared services organizations to invest in programs to hire, develop, and retain staff in order to grow the professional skills and knowledge needed to achieve and maintain world-class performance standards.

For companies with over $1B in revenue, The Hackett Group estimates that more than 10,000 captive GBS organizations currently operate worldwide, with business process outsourcers operating more than 2,000 centers. In total, captive and BPO organizations employ almost 5 million professionals. These estimates are based on an analysis of results from The Hackett Group's benchmarking and GBS performance studies, in combination with public data. The Hackett Group also believes that in the last 10 years, the number of business processes which are in scope of the GBS services portfolio has increased from about 20% to 60% of all functional business support processes. However for the most part, training and development programs still target traditional functional organizations and have not adapted to the dramatic service delivery model transformation that has taken place.

The Hackett Group and CIMA will be relaunching CIMA's existing Certificate in Shared Services as a co-branded Global Business Services qualification. The qualification will provide a base level of training that can be implemented consistently across all markets, establishing measurable global standards. The qualification incorporates empirical data, insights, and other proprietary intellectual property in finance, procurement, IT, HR, and other key business services areas, derived from The Hackett Group's extensive benchmarking, executive advisory, and transformation practices. In addition, it will build on the expertise of CIMA, the world's largest professional body of management accountants, with over 227,000 members in 179 countries.

Ted Fernandez, Chairman and CEO of The Hackett Group, said: "We are delighted to leverage our GBS intellectual property to help create and support world-class professional development programs for GBS professionals. The rapid and continuing transition of professionals from traditional functional roles to GBS centers has created a significant demand for the offerings created through our collaboration."

Charles Tilley, FCMA, CGMA, Chief Executive, CIMA said: "CIMA has been at the forefront of professional development for the GBS and shared services sector, having launched the world's first Certificate in Shared Services in October 2014. Building on our existing success, we are proud to be taking the next step by partnering with The Hackett Group. Together we will enable organizations to nurture and grow the skills and knowledge they require while helping individuals to take charge of their careers."

About The Hackett Group, Inc.

The Hackett Group (NASDAQ: HCKT) is an intellectual property-based strategic consultancy and leading enterprise benchmarking and best practices implementation firm to global companies, offering digital transformation including robotic process automation and enterprise cloud application implementation. Services include business transformation, enterprise analytics, working capital management and global business services. The Hackett Group also provides dedicated expertise in business strategy, operations, finance, human capital management, strategic sourcing, procurement and information technology, including its award-winning Oracle and SAP practices.

The Hackett Group has completed more than 13,000 benchmarking studies with major corporations and government agencies, including 93% of the Dow Jones Industrials, 87% of the Fortune 100, 87% of the DAX 30 and 58% of the FTSE 100. These studies drive its Best Practice Intelligence Center™ which includes the firm's benchmarking metrics, best practices repository and best practice configuration guides and process flows, which enable The Hackett Group's clients and partners to achieve world-class performance.

About CIMA

The Chartered Institute of Management Accountants (CIMA), founded in 1919, is the world's leading and largest professional body of management accountants, with over 227,000 members and students operating in 179 countries, working at the heart of business. CIMA members and students work in industry, commerce, the public sector and not-for-profit organizations. CIMA works closely with employers and sponsors leading-edge research, constantly updating its qualification, professional experience requirements and continuing professional development to ensure it remains the employers' choice when recruiting financially-trained business leaders.

Professionalism and ethics are at the core of CIMA's activities with every member and student bound by robust standards so that integrity, expertise and vision are brought together.

CIMA has formed a joint venture with the American Institute of CPAs (AICPA) to establish the Chartered Global Management Accountant (CGMA) designation. CGMA is the global quality standard that further elevates the profession of management accounting. The designation recognizes the most talented and committed management accountants with the discipline and skill to drive strong business performance.

CIMA is proud to be the first professional accounting body to offer a truly global product in the fast-moving area of Islamic Finance. CIMA also offers a Global Business Services qualification, in conjunction with The Hackett Group, the first and only global professional qualification in the shared services and outsourcing arena.

Media Relations

Media relations inquiries about The Hackett Group should be directed to Gary Baker, Communications Director at gbaker@thehackettgroup.com or +1 917 796 2391.