Driving Maximum Value from existing Finance and Accounting Outsourcing (FAO) Engagement

This paper analyzes the evolution of the FAO market, the maturity of companies in this space and how companies can drive maximum value through their FAO engagement by outsourcing the entire spectrum of FAO services ranging from Procure to Pay, Order to Cash and Record to Report, by adopting value based pricing approaches and engaging with service providers as business partners.. The study also includes insights on the benefits accrued by various Fortune 500 companies and the key trends currently driving this market. Cost reduction and cost savings have traditionally been the factors driving companies to outsource their Finance and Accounting functions. However, with the increasing maturity of companies, their focus has moved beyond cost and labour arbitrage to process efficiency, standardisation and innovation, and they are looking to leverage their FAO function for their key business decisions and drive maximum value from their outsourcing partners. The demand for FAO is witnessing a positive trend, driven mainly by the Telecom, Software / High Tech, Media and Publishing, and Retail/Hospitality sectors.