Finance & Accounting Outsourcing: Market Research Report
This report analyzes the worldwide markets for Finance & Accounting Outsourcing in US$ Million.
The report provides separate comprehensive analytics for the US, Asia-Pacific, and Rest of World.
Annual estimates and forecasts are provided for each region for the period 2006 through 2015.
The report profiles 155 companies including many key and niche players such as 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.
Market data and analytics are derived from primary and secondary research.
Company profiles are mostly extracted from URL research and reported select online sources.
The report provides separate comprehensive analytics for the US, Asia-Pacific, and Rest of World.
Annual estimates and forecasts are provided for each region for the period 2006 through 2015.
The report profiles 155 companies including many key and niche players such as 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.
Market data and analytics are derived from primary and secondary research.
Company profiles are mostly extracted from URL research and reported select online sources.
I.INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS
Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study
II. EXECUTIVE SUMMARY
1.INDUSTRY OVERVIEW
Finance & Accounting Services Outsourcing Market - An Overview
Current & Future Analysis
Impact of Global Economic Crisis on Outsourcing Market
F&A Outsourcing –Growth Opportunity for BPO Sector
At a Glance
Regulations & Economic Slowdown Drive Market for F&A BPO Services
Competitive Landscape
F&A BPO Competitive Landscape
Competition Intensifies Among FAO Service Providers
2.MARKET DYNAMICS
FAO Suppliers Prefer Add-On Technology Solutions
Market Highlights
Growth in New & Renewed FAO Contracts
Average FAO Contract Value & Size on a Decline
F&A Outsourcing for Small Businesses
Integration of Accounting Software
Financial Accounting for Small Enterprises
Accounting Services Outsourcing in CPA Firms
Software-as-a-Service Gains Popularity
Increased Adoption of FAO Solutions by Mid-Market Companies
Mid-Market FAO Market – At a Glance
Major Offshoring Trends in F&A Sector
Accounting Outsourcing Services – A Critical Function of FAO Market
Technological Innovations Drive FAO Market
Offshore Service Providers Fuel Demand
3.PRODUCT OVERVIEW
Introduction to Finance and Accounting Outsourcing
Need for Finance and Accounting Outsourcing
Common Functions included under Finance & Accounting Services
FAO Services – Breakdown by Level of Complexity & Enterprise Value Addition
AR & AP – Most Commonly Outsourced F&A Activities
Objectives and Advantages of F&A Outsourcing
Cost reduction
Realizing Business Value
Access to Talent Pool
Focus on Core Business Areas
Performance Improvement
Increasing Working Capital
Advanced F&A Technologies
Focus on Integrated Solutions
Risk Transference to Supplier
Facilitates M&A Activity
Disadvantages of F&A Outsourcing
4.RECENT INDUSTRY ACTIVITY
SS&C Technologies Takes Over Evare
Perot Systems Purchases BearingPoint Management Consulting
Genpact Receives Multiple Year F&A Services Contract from United Biscuits
Genpact Bags 5 Year Contract for F&A Services from UCB
Information Mosaic and Broadridge Financial Sign Agreement
BearingPoint and PricewaterhouseCoopers Ink Agreement
ProMutual Selects Northern Trust for Financial Reporting and Insurance Accounting Solutions
Capita Group Purchases Parts of Capmark’s European Financial Services
Visma Takes Over Teemuaho Group
Opportune Purchases PetroAcct
FNIS to Buy Metavante Technologies
3I INFOTECH ESTABLISHES BPO SUBSIDIARY
BKD Merges with KBA Group
Headstrong Takes Over Lydian Data Services
Headstrong Takes Over iX Partners
TCS to Unveil BPO Services for Finance and Accounting
UCFA Designs Suite of Outsourced Services
Convergys Inks Collection Services Agreement with Financial Services Company
Manpower Software Enters into Alliance with NHS Shared Business Services
Steria Renews F&A Outsourcing Agreement with Telefonica
WNS Acquires Aviva’s BPO Division Aviva Global Services
Serco Group to Take Over InfoVision Group
Steria Receives F&A Outsourcing Contract from Whitbread
Doughty Hanson to Acquire Netherlands Based Outsourcing Firm TMF
OPI Establishes F&A Outsourcing Service Center in Kuala Lumpur
WNS Acquires BizAps to Optimize ERP Capability for F&A Services
REcap Partners to Acquire HOV Services
Accenture and Bristol-Myers Squibb Ink 10-Year Agreement for F&A Outsourcing
Xchanging to Purchase Cambridge Solutions
Cambridge Solutions and In Genius Solutions Enter into Partnership
CFC India Services Merges with BA Continuum Solutions
TCS Takes Over Citigroup Global Services
Sapient Purchases Derivatives Consulting Group
The Hanke Group Merges with BKD
HCL Technologies Takes Over Liberata Financial Services
Visma Takes Over Actit
Pandell Technology Purchases Dowwest Accounting Management
Capgemini and Unilever Ink Agreement
Adventity Enters into Joint Venture with Noor Investment Group LLC
Pangea3 LLC Establishes TARP Services Division
NetSol Technologies Launches BPO Practice
Convergys Inks Contract with Financial Services Company
Accenture Inks Multiple Year Outsourcing Agreement with Thomas Cook Group
Accenture Inks Agreement with Microsoft for F&A and Procurement Services
Accenture and BT Sign Multiple Year BPO Contract
Computer Sciences and Northstar Financial Services Sign Contract
Computer Sciences and John Hancock Financial Services Extend Contract
WNS Assistance Takes Over FLOvate Technologies
BISYS Retirement Services Takes Over Frontier Trust
Fidelity National Information Purchases eFunds
Copeley Capital Purchases EMS Management & Consultants
Forest River Takes Over Priority One Financial
5.FOCUS ON SELECT GLOBAL PLAYERS
Accenture Ltd. (Bermuda)
ACS, Inc. (US)
Capgemini SA (France)
Genpact Ltd. (US)
Hewlett-Packard Development Company, L.P. (US)
Infosys BPO Limited (India)
International Business Machines Corporation (US)
Steria Limited (UK)
Wipro BPO (India)
WNS Global Services (US)
6.GLOBAL MARKET PERSPECTIVE
III. MARKET
1.THE UNITED STATES
A. MARKET ANALYSIS
Outlook
FAO Market – An Overview
Outsourcing Gains Strength in Mid-Market Segment
Latin America – The New Offshore Destination for FAO Services
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
2.ASIA-PACIFIC
A. MARKET ANALYSIS
Outlook
FAO Market in Asia-Pacific
India
A Major Destination for Outsourcing
Benefiting from Rising Demand for Outsourced F&A Services
Growth Drivers for Offshoring Market
Australia
Outsourcing Services On a Roll
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
3.REST OF WORLD
A. MARKET ANALYSIS
Outlook
Europe
Europe Leads Global Outsourcing Market
Growth Drivers for FAO Market
FAO Growth in Mid-Market Segment
Factors Driving FAO Adoption in Mid-Market Segment
Advantages of FAO for Mid-Market Firms
Challenges Facing Mid-Market Companies in Outsourcing F&A Functions
Complicated Language Requirements
Fragmentation & Scale Limitations in Processes
Shortage of Qualified Staff
Inability to Absorb High Initial Costs
Achievement of Targeted Cost Reduction
Other Challenges
Accounting Services Market in Europe
The Netherlands
United Kingdom
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
IV. COMPETITIVE LANDSCAPE
Total Companies Profiled: 155 (including Divisions/Subsidiaries - 159)
Region/CountryPlayers
The United States74
Canada2
Europe
France
Germany
The United Kingdom
Rest of Europe
Asia-Pacific (Excluding Japan)
Study Reliability and Reporting Limitations
Disclaimers
Data Interpretation & Reporting Level
Quantitative Techniques & Analytics
Product Definitions and Scope of Study
II. EXECUTIVE SUMMARY
1.INDUSTRY OVERVIEW
Finance & Accounting Services Outsourcing Market - An Overview
Current & Future Analysis
Impact of Global Economic Crisis on Outsourcing Market
F&A Outsourcing –Growth Opportunity for BPO Sector
At a Glance
Regulations & Economic Slowdown Drive Market for F&A BPO Services
Competitive Landscape
F&A BPO Competitive Landscape
Competition Intensifies Among FAO Service Providers
Table 1. Leading Players in the Global FAO Market (2008): Percentage Share Breakdown of Total Contract Value for Accenture, IBM, Genpact, ACS, Capgemini, WNS, Steria, HP, and Others (includes corresponding Graph/Chart)
2.MARKET DYNAMICS
FAO Suppliers Prefer Add-On Technology Solutions
Market Highlights
Growth in New & Renewed FAO Contracts
Average FAO Contract Value & Size on a Decline
F&A Outsourcing for Small Businesses
Integration of Accounting Software
Financial Accounting for Small Enterprises
Accounting Services Outsourcing in CPA Firms
Software-as-a-Service Gains Popularity
Increased Adoption of FAO Solutions by Mid-Market Companies
Mid-Market FAO Market – At a Glance
Major Offshoring Trends in F&A Sector
Accounting Outsourcing Services – A Critical Function of FAO Market
Table 2. Global Accountancy Outsourced Market (2009): Percentage Share Breakdown by Region for Europe, North America, Asia-Pacific, Middle East and Africa, and Others (includes corresponding Graph/Chart)
Technological Innovations Drive FAO Market
Offshore Service Providers Fuel Demand
3.PRODUCT OVERVIEW
Introduction to Finance and Accounting Outsourcing
Need for Finance and Accounting Outsourcing
Common Functions included under Finance & Accounting Services
FAO Services – Breakdown by Level of Complexity & Enterprise Value Addition
AR & AP – Most Commonly Outsourced F&A Activities
Objectives and Advantages of F&A Outsourcing
Cost reduction
Realizing Business Value
Access to Talent Pool
Focus on Core Business Areas
Performance Improvement
Increasing Working Capital
Advanced F&A Technologies
Focus on Integrated Solutions
Risk Transference to Supplier
Facilitates M&A Activity
Disadvantages of F&A Outsourcing
4.RECENT INDUSTRY ACTIVITY
SS&C Technologies Takes Over Evare
Perot Systems Purchases BearingPoint Management Consulting
Genpact Receives Multiple Year F&A Services Contract from United Biscuits
Genpact Bags 5 Year Contract for F&A Services from UCB
Information Mosaic and Broadridge Financial Sign Agreement
BearingPoint and PricewaterhouseCoopers Ink Agreement
ProMutual Selects Northern Trust for Financial Reporting and Insurance Accounting Solutions
Capita Group Purchases Parts of Capmark’s European Financial Services
Visma Takes Over Teemuaho Group
Opportune Purchases PetroAcct
FNIS to Buy Metavante Technologies
3I INFOTECH ESTABLISHES BPO SUBSIDIARY
BKD Merges with KBA Group
Headstrong Takes Over Lydian Data Services
Headstrong Takes Over iX Partners
TCS to Unveil BPO Services for Finance and Accounting
UCFA Designs Suite of Outsourced Services
Convergys Inks Collection Services Agreement with Financial Services Company
Manpower Software Enters into Alliance with NHS Shared Business Services
Steria Renews F&A Outsourcing Agreement with Telefonica
WNS Acquires Aviva’s BPO Division Aviva Global Services
Serco Group to Take Over InfoVision Group
Steria Receives F&A Outsourcing Contract from Whitbread
Doughty Hanson to Acquire Netherlands Based Outsourcing Firm TMF
OPI Establishes F&A Outsourcing Service Center in Kuala Lumpur
WNS Acquires BizAps to Optimize ERP Capability for F&A Services
REcap Partners to Acquire HOV Services
Accenture and Bristol-Myers Squibb Ink 10-Year Agreement for F&A Outsourcing
Xchanging to Purchase Cambridge Solutions
Cambridge Solutions and In Genius Solutions Enter into Partnership
CFC India Services Merges with BA Continuum Solutions
TCS Takes Over Citigroup Global Services
Sapient Purchases Derivatives Consulting Group
The Hanke Group Merges with BKD
HCL Technologies Takes Over Liberata Financial Services
Visma Takes Over Actit
Pandell Technology Purchases Dowwest Accounting Management
Capgemini and Unilever Ink Agreement
Adventity Enters into Joint Venture with Noor Investment Group LLC
Pangea3 LLC Establishes TARP Services Division
NetSol Technologies Launches BPO Practice
Convergys Inks Contract with Financial Services Company
Accenture Inks Multiple Year Outsourcing Agreement with Thomas Cook Group
Accenture Inks Agreement with Microsoft for F&A and Procurement Services
Accenture and BT Sign Multiple Year BPO Contract
Computer Sciences and Northstar Financial Services Sign Contract
Computer Sciences and John Hancock Financial Services Extend Contract
WNS Assistance Takes Over FLOvate Technologies
BISYS Retirement Services Takes Over Frontier Trust
Fidelity National Information Purchases eFunds
Copeley Capital Purchases EMS Management & Consultants
Forest River Takes Over Priority One Financial
5.FOCUS ON SELECT GLOBAL PLAYERS
Accenture Ltd. (Bermuda)
ACS, Inc. (US)
Capgemini SA (France)
Genpact Ltd. (US)
Hewlett-Packard Development Company, L.P. (US)
Infosys BPO Limited (India)
International Business Machines Corporation (US)
Steria Limited (UK)
Wipro BPO (India)
WNS Global Services (US)
6.GLOBAL MARKET PERSPECTIVE
Table 3. World Recent Past, Current & Future Analysis for Finance & Accounting Outsourcing by Geographic Region – US, Asia-Pacific, and Rest of World Markets Independently Analyzed with Annual Revenue Figures in US$ Million for Years 2006 through 2015 (includes corresponding Graph/Chart)
Table 4. World 10-Year Perspective for Finance & Accounting Outsourcing by Geographic Region – Percentage Breakdown of Annual Revenues for US, Asia-Pacific, and Rest of World Markets for Years 2006, 2009 & 2015 (includes corresponding Graph/Chart)
III. MARKET
1.THE UNITED STATES
A. MARKET ANALYSIS
Outlook
FAO Market – An Overview
Outsourcing Gains Strength in Mid-Market Segment
Latin America – The New Offshore Destination for FAO Services
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
Table 5. US Recent Past, Current & Future Analysis for Finance & Accounting Outsourcing Analyzed with Annual Revenue Figures in US$ Million for Years 2006 through 2015 (includes corresponding Graph/Chart)
2.ASIA-PACIFIC
A. MARKET ANALYSIS
Outlook
FAO Market in Asia-Pacific
India
A Major Destination for Outsourcing
Benefiting from Rising Demand for Outsourced F&A Services
Growth Drivers for Offshoring Market
Australia
Outsourcing Services On a Roll
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
Table 6. Asia-Pacific Recent Past, Current & Future Analysis for Finance & Accounting Outsourcing Analyzed with Annual Revenue Figures in US$ Million for Years 2006 through 2015 (includes corresponding Graph/Chart)
3.REST OF WORLD
A. MARKET ANALYSIS
Outlook
Europe
Europe Leads Global Outsourcing Market
Growth Drivers for FAO Market
Table 7. Factors Contributing to Outsourcing of F&A Functions - Proportion (%) of EU Companies Opting to Outsource (includes corresponding Graph/Chart)
FAO Growth in Mid-Market Segment
Factors Driving FAO Adoption in Mid-Market Segment
Advantages of FAO for Mid-Market Firms
Challenges Facing Mid-Market Companies in Outsourcing F&A Functions
Complicated Language Requirements
Fragmentation & Scale Limitations in Processes
Shortage of Qualified Staff
Inability to Absorb High Initial Costs
Achievement of Targeted Cost Reduction
Other Challenges
Accounting Services Market in Europe
The Netherlands
United Kingdom
Strategic Corporate Developments
Key Players
B. MARKET ANALYTICS
Table 8. Rest of World Recent Past, Current & Future Analysis for Finance & Accounting Outsourcing Analyzed with Annual Revenue Figures in US$ Million for Years 2006 through 2015 (includes corresponding Graph/Chart)
IV. COMPETITIVE LANDSCAPE
Total Companies Profiled: 155 (including Divisions/Subsidiaries - 159)
Region/CountryPlayers
The United States74
Canada2
Europe
France
Germany
The United Kingdom
Rest of Europe
Asia-Pacific (Excluding Japan)
