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Finance to Retain Most IT ContractsResearch from Giant group reveals that although contractors confidence in the most IT-rich sector has softened, they believe it will still be their dominant client by 2009F&A BPO Buyers Moving Toward Process-Based OTC OutsourcingTo date, the majority of order-to-cash (OTC) outsourcing has been focused on outsourcing two or three functions, such as invoicing, cash applications, and collections. This has traditionally occurred in the invoice-to-cash (ITC) segment. This trend is shiftingFAO to Achieve Strategic ObjectivesThe No. 1 reason for companies to consider outsourcing finance back-office functions is the need for cost reductions; however, we are seeing a myriad of additional drivers compelling companies to consider, and ultimately choose outsourcing as an operational alternativeShifting to an FAO 2.0 MindsetWhile cost reduction and process efficiency are still key drivers for FAO engagements, customers are adopting a wider scope of contracted services upfront, suggesting that the FAO market is now shifting to the age of FAO 2.0 differentiated from less sophisticated market demand for servicesBest Performing FAO Providers--2008 Winner WNSThe FAO practice at WNS has more than doubled its revenues in the past year, with 4,500 people out of a total of 17,000 working in this group, makes WNS the best performing FAO providerOffshoring Hits Demand for U.K. Software DevelopersThe proportion of new IT jobs created in software development in the U.K. had fallen to 28.5% from 34.3% a year ago, according to research by IT staffing firm ReThink Recruitment83% F&A Workforce Resides in Offshore Destinations: StudyAbout 25,410 (70 percent) full-time employees are located in IndiaFinancial Services Outsourcing: Not If, But WhenBanks have already realized substantial savings from offshoring, from $8 to $12 billion in the last four years, up to 37 percent savings per process outsourcedPhilippines Top Choice Among U.S. Companies for Finance, BPO ServicesConsul General Cecilia Rebong of the Philippine Consulate General in New York, U.S. reported to the Department of Foreign Affairs that a capital markets analyst has said that the Philippines is the top choice among a growing number of major U.S. companies for finance, technology, telecommunications and consumer products, and accounting business process outsourcing (BPO) services. (Source: Davao Today)Outsourcing Enabling the Renewal of F&A: IDCCompanies today are largely adopting finance and accounting outsourcing not just for cost savings as in the past, but also to transform the finance and accounting function. (Source: Tekrati.com)Compliance Inhibits F&A OutsourcingA recent study finds that increasing burden of the financial regime is the biggest obstacle to F&A outsourcing. Sixty-eight percent of the respondent agreed to thisF&A Outsourcing on the UptakeFAO has a potential to create valueThe Hidden Jewel For Finance and Accounting Outsourcing: DubaiWithin just 40 years, Dubai has transformed from a barren desert with little-to-no sustainable industry outside of oil exports to become a tourist and commercial business paradiseTechnology Transformation: Driving Higher Value in FAOHow can customers leverage their provider's technology expertise to knit together their F&A processes and the technology that supports itShared Services Centers Far More Popular than Outsourcing in F&AOnly 4% of finance processes are currently outsourced, while companies use shared service centers 65% of the time, finds a study by business process advisory firm, Hackett Group
Trends in Pricing of FAO ContractsFAO contract pricing is less standard and more case-by-case. Thus pricing is the most debatable part of such contract discussions. However, if trust is the underlying element of the relationship, Lisa sees no reason that antagonistic conversations should take place during pricing negotiationsVisionet Systems Expands Indian Mortgage BPO OperationsVisionet, a Cranbury, N.J.-based business-process outsourcing (BPO) provider to mortgage banks, says it is experiencing rapid growth in its BPO operations and has moved to a newer and larger premise in Bangalore, IndiaAccounting Ripe for OutsourcingWelcome to the growing world of finance and accounting outsourcing. What started out with billing, invoicing, general bookkeeping, accounts payable and receivables is now including tax preparation, even audit services. According to NASSCOM, an Indian trade body representing the outsourcing business, high-end accounting work now accounts for 30 percent to 40 percent of the market
Actural Outsourcing is Catching UpAs the global insurance market hots up, actuaries have become hot property. And ever since actural process outsourcing (APO) has caught up, KPOs, especially in India, are wooing actuaries with lucrative packagesFAO in 2015 Will be About Multisourcing and India"There has been a big turnaround in the Finance and Accounting (F&A) market space over the last two years. As a consequence, some prominent trends are emerging in this sector," says KPIT Cummins Global Business Solutions' President Pawan Sharma. He reveals KPIT's future plans and present developments at the global pace. Pawan also shares his views on the "F&A Outsourcing (FAO) in 2015" with Imrana KhanPotential in High-level Finance Outsourcing ServicesHigh-level finance outsourcing services can be a potential avenue for Malaysia to differentiate itself from other business process outsourcing (BPO) marketsF&A Outsourcing Moves to the Mid-marketBut problems lurk for those who fail to understand the terrainFinancial Services Favor OutsourcingMarket researchers Equaterra found that financial services firms outsource their IT support more than any other sector, a trend that is set to growF&A BPO: Beyond Labor ArbitrageThe last two years have seen F&A BPO go through dramatic change. Progressive companies are now looking to achieve rapid business transformation, and not just simple cost-reduction when outsourcing their transactional F&A processes. What are these benefits?Outsourcing Enabling the Renewal of F&A: IDCCompanies today are largely adopting finance and accounting outsourcing not just for cost savings as in the past, but also to transform the finance and accounting function. (Source: Tekrati.com)F&A Outsourcing: Cities as Centers of ExcellenceSecurity, privacy and compliance are some factors to consider when evaluating a city for F&A outsourcing. We discuss some favorable global centersF&A Outsourcing Market to Grow by 30% in 2007: StudyThe market has already surpassed two billion dollars in expenditure in 2006 with 45% annual growthShared Services Score Over Outsourcing in F&AShared services continues to be a strong contender to the much-publicized outsourcing, according to a study by The Hackett GroupPersonal Finance and Offshore: Catch 22While processing applications offshore could deliver quicker results, most American consumers feel apprehensive about their personal information going offshoreFAO Predicted to Grow by 60% in 2006Growth in the FAO market is accelerating at an incredible pace
