The demand for finance and accounting outsourcing (FAO) services is strong and will continue to grow in 2010, according to the findings of The WNS Annual CFO Survey 2010.

The study consisted of an online survey of 100 senior finance executives in organizations with revenues of over $3 billion. The survey was designed to identify and analyze key items on the CFO's agenda and assess how alternative service delivery models such as business process outsourcing are used to address these agendas.

Some of the key findings include:

• Over 75 percent of the finance executives plan to expand their outsourcing programs in 2010
  Driving corporate cost cutting efforts and improving internal controls are the two most crucial issues in 2010
• Forty-four percent of the finance executives believe growing the business will be an organizational imperative in 2010 
•  Over 85 percent of the finance executives are satisfied with the benefits from FAO.

 
"The survey clearly suggests that FAO has become a mainstream tool as 85 percent of respondents say they are satisfied with the benefits. While FAO has been commonly used to reduce cost of operations, it is increasingly becoming more strategic, focusing on transforming F&A operations," said Sulakshana Patankar, Business Unit Leader, WNS Finance and Accounting Solutions. "It is extremely encouraging to note that respondents who outsource plan to increase the scale of their programs in 2010, expanding both processes in scope and adding business units and geographies."

According to Stan Lepeak, Managing Director, Global Research, Equaterra, "While most organizations are still dealing with the fallout from the global recession, this study suggests their 2010 priorities are shifting back towards growing the business in preparation for the economic upturn. For the CFO, this means focusing on managing costs and improving internal controls but also preparing for the upturn by driving the transformation of F&A operations."