Finance and Accounting Outsourcing Posts Early Post-Recession Growth Trajectory, Reports Black Book Research

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"The Black Book of Outsourcing", a division of Datamonitor Inc, one of the world's foremost providers of sourcing consulting and research services, announced the results of the 2009 Black Book Financial and Accounting Outsourcing Top Vendors Survey which found that most executives today agree that outsourcing finance, accounting and procurement significantly helped their companies survive the current economic downturn. The survey also revealed that a majority of executives (88%) recognize that outsourced financial transactions and accounting processes has directly contributed to their organization's ability to stay solvent through the recession and influences their post recession decisions to expand FAO through 2010.

The Black Book of Outsourcing, a Datamonitor company, surveyed the users of Financial and Accounting Outsourcing worldwide in the annual poll of customer satisfaction and client experience to identify the top twenty service providers of enterprise wide FAO services and industry buying trends.

Key Findings include:

  • Indian outsourcers commanded the highest satisfaction levels of all global FAO suppliers;
  • Demand for finance and accounting BPO outsourcing is resuming its pre-recession surge, as 44% of current users are adding more FAO services in the next six to twelve months, with an average spend increase of 26%;
  • While $500 million-plus FAO and BPO deals were common three to four years ago, there has not been a single one of that magnitude signed in 2009;
  • Although the BPO landscape continues to be dominated by end-to-end players like Infosys, Wipro, IBM Global and Accenture, there is a decided growth in smaller companies that focus on key FAO business process areas, particularly lower cost providers offshore; and
  • With North American and European FAO markets slowing down however, there is an increased focus globally on offshore vendors selling into emerging economies such as Australia, India, New Zealand and Singapore.

Infosys is capture the #1 ranking among all global enterprise-wide Finance and Accounting Outsourcing Vendors for 2009's poll of two thousand- plus FAO users.

Genpact, Outsource Partners International, ACS, HCL BPO, Capgemini, Accenture, Hewlett Packard - EDS, Vertex, EXL Service, WNS, Consero, IBM Global, Convergys, Wipro, XChanging, Fiserv, Tata Consultancy Services, Tech Mahindra, and Xansa/Steria also ranked respectively behind Infosys among the top twenty vendors of highest end-to-end FAO supplier satisfaction.

Over 800,000 individuals are invited to participate annually in Black Book's outsourcing user survyes including the top sourcing officers of the Fortune 2000, Inc 500, institutional members and officers of various professional and industry member organizations, media partners" subscribers and previously validated survey participants. Non-invitation receiving participants must complete a verifiable profile. Over 26,000 global outsourcing users were validated in the 2009 ranking process.

More information on the detailed competitive reports and FAO vendor performance evaluations on eighteen qualitative key performance indicators are available at http://www.datamonitor.com and http://www.theblackbookofoutsourcing.com

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