Finance & Accounting Outsourcing: A Global Strategic Business Report
San Jose, CA (PRWEB) April 14, 2010
The global finance & accounting (F&A) outsourcing services is one of the three major segments in the overall business process outsourcing (BPO) industry. The need to provide accurate, timely and cost-effective services is fuelling prospects in the global FAO market. Owing to the global economic crisis, an increasing number of companies are outsourcing their finance-related processes to third-party suppliers, thereby gaining access to advanced technology, expanding global presence, achieving better cost savings, and gaining best practices of the industry. Though F&A outsourcing services were largely adopted among large-scale companies, the demand for outsourcing services is gaining momentum amongst mid-market. The need for reducing costs, increasing productivity and maximizing cash flow, and enhancing payables is driving the adoption of F&A outsourcing services among mid-market firms.
The United States and Asia-Pacific dominate the global finance & accounting outsourcing market with about 70% share of revenues for 2009, as stated by the new market research report on Finance & Accounting Outsourcing. Increasing capacity of service providers and growing confidence levels of customers in the outsourced services is expected to boost the demand for outsourced service providers. In particular, high-end F&A processes such as management reporting, inter-company accounting, financial planning & analyses, and regulatory/statutory reporting are expected to find increased demand in the future.
Asia-Pacific FAO market is expected to witness rapid growth with several companies surpassing the US and European counterparts in adopting high-value outsourced services. The adoption of BPO services for finance and accounting sector has been relatively slow in the region, as companies tend to adopt a 'wait-and-watch' approach to benefit from the experience of other market participants. With several global leaders operating in the outsourcing arena, Asian companies are also joining the outsourcing league. The Asia-Pacific market for finance & accounting is forecast to reach US $6.9 billion by 2012.
The global F&A BPO industry was predominated by players from the global IT sector, consulting firms and managed services providers such as Accenture and IBM. However, the adoption of offshore model led to the growth of players that traditionally operated in consumer packaged goods, manufacturing and life sciences sectors. The supplier landscape, exhibiting relative mature conditions, involves the participation of more than 20 suppliers that specialize in provision of multi-process FAO services. Players profiled in the report include Accenture Ltd., ACS Inc., Capgemini SA, Genpact Ltd., Hewlett-Packard Development Company L.P., Infosys BPO Limited, International Business Machines Corporation, Steria Limited, Wipro BPO, and WNS Global Services.
The report titled "Finance & Accounting Outsourcing: A Global Strategic Business Report" announced by Global Industry Analysts, Inc., provides a review of market trends, competitive scenario, and recent industry activity. The study analyzes market data and analytics for regions including The United States, Asia-Pacific, and Rest of World. The study analyzes market data and analytics in terms of revenues.
For more details about this comprehensive market research report, please visit - http://www.strategyr.com/Finance_and_Accounting_Outsourcing_FAO_Market_Report.asp
About Global Industry Analysts, Inc.
Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1100 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.
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