Today, Finance and Accounting Outsourcing (FAO) is actively embracing digital transformation. Cognitive technologies have transitioned from pilot stages to widespread use, denoting a considerable change in the approach to and execution of Finance and Accounting (F&A) activities. The digital revolution, with AI at its core, is not just a technology enabler but also a strategic necessity. Service and technology providers, equipped with cutting-edge AI capabilities, are steering the industry toward unparalleled efficiency and innovation. In addition, the industry faces a potential transformation with the rise of generative AI, a key trend of the year. As generative AI adoption increases, it has the ability to significantly alter the industry, expanding potential applications in F&A, notably influencing data analytics, predictive modeling, and decision-making processes.

This research analyzes the FAO market across various aspects, such as regional variations, buyer adoption trends, growth drivers, and growth of AI in F&A, during 2022-23. The report will enable interested stakeholders, such as buyers / parent organizations, providers, GBS organizations, investors, and industry bodies, to create AI-based future-ready finance functions for the next normal.

Scope

• All industries and geographies
• This research leverages our interactions with 28 leading FAO service providers and enterprise stakeholders worldwide

Contents

In this research, we study:

• The role of AI in F&A
• Providers’ AI capabilities in F&A
• Potential of generative AI in F&A
• FAO market overview and buyer trends

Membership(s)

Finance and Accounting

Sourcing and Vendor Management