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Finance and accounting 'set for new outsourcing phase'

27 April 2011

The market for business process outsourcing in finance and accounting is set to enter a new phase of growth, according to research experts.

In a report, analyst firm HfS Research claimed BPO remains a "largely untapped" market in terms of finance and accounting functions.

The company indicated that just one in six enterprises currently outsources transactional accounting activities to a third-party service provider.

However, the recovering economy is expected to see interest in the benefits of such arrangements increase among companies, as many organisations resume their pursuit of growth and efficiencies.

HfS Research noted that any company deciding to outsource finance services is likely to be working with their chosen provider for many years, so making the correct decision is crucial.

"Getting this right is going to have a major impact on its culture and operational performance over the long-haul," the firm commented.

A recent study from Deloitte noted an increase in the number of companies using shared services to boost efficiency.

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Categories: Financial Services

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