Finance and Accounting Outsourcing (FAO) Annual Report 2019: Why, What, and How of F&A Transformation
The global multi-process FAO market witnessed strong growth of 8-10% in 2018 to reach US$8.6 billiion, driven by increasing first-generation outsourcers, large-scale transformation deals, and scope expansion in existing contracts. The changing business landscape is forcing enterprises to rethink their traditional business models and take an end-to-end transformational approach. Service providers are building capabilities in process, digital, and talent and are increasingly using and a platform-led approach, where all the digital levers are integrated, implemented, and orchestrated with the right mix of process and talent, to deliver the best outcomes from F&A transformation. Service providers are also expected to handhold enterprises through their transformation journey, leveraging frameworks and domain-related assets and assist enterprises in effective change and transition management.
This report gives service providers, enterprises, and third-party enablers (technology vendors, investment firms, etc.) a detailed view of the current state of the market.
In this study, we analyze the global multi-process FAO market in 2018. We focus on:
- Why F&A transformation is needed
- What capabilities it takes to transform F&A operations
- How F&A can be transformed in an efficient manner
- FAO market overview
- Service provider landscape
The scope of the analysis includes:
- Third-party multi-process FAO deals with a minimum of two F&A processes, over US$1 million in ACV, and a minimum contract term of three years
- Over 1,000 multi-process FAO deals signed as of 2018
- Coverage across 24 FAO service providers with multi-process capability including Accenture, Aegis, Arvato, Capgemini, Cognizant, Concentrix, Conduent, Datamatics , DXC Technology, Exela Technologies, EXL, Genpact, HCL, Hexaware, IBM, Infosys, IQ BackOffice, NTT Data, Quatrro, Sutherland Global Services, TCS, TMF Group, Wipro, and WNS
- Global surveys and one-on-one executive-level buyer interviews to understand how organizations perceive their FAO engagements