Finance and Accounting Outsourcing (FAO) – Service Provider Landscape with PEAK Matrix® Assessment 2021
PEAK Matrix® Report

31 Aug 2021
by Shirley Hung, Vignesh Kannan, Abhishek Singh (BPS), Sailee Ladole

Despite the pandemic, the global multi-process Finance and Accounting Outsourcing (FAO) market continued to grow at a steady rate of 5-7% in 2020. While transaction volumes and large-scale initiatives, especially in heavily impacted industries, shrank for about two quarters in 2020, huge demand for digitalization, cost takeout / cash unlock, and the need for Business Continuity Planning (BCP), agility, and resiliency drove growth in 2020, a trend which continues in 2021.

Increased openness among organizations to engage with third-party Finance and Accounting (F&A) service providers, digital transformation efforts, an increasing number of first-time outsourcers (especially in the SMB and mid-market segment), and rising demand for next-generation technology and high-end F&A work from mature outsourcers is expected to continue to drive market growth in 2021.

Some of the key means by which providers are differentiating themselves are end-to-end transformative solutions, combined with domain and industry expertise, a design-thinking approach, transformation frameworks, and next-generation innovative offerings leveraging automation and analytics. This research studies and assesses FAO service providers based on their vision and capabilities, and market impact, and categorizes them as Leaders, Major Contenders, Aspirants, and Star Performers based on their market performance.


  • Geography: global
  • Services: FAO


In this research, we focus on:

  • Everest Group’s Services PEAK Matrix® evaluation, a comprehensive assessment of 28 FAO service providers
    • 2021 FAO PEAK Matrix and Star Performers
    • Service provider capability assessment
  • FAO service provider landscape
  • Key strengths and limitations of each FAO service provider


Finance and Accounting

Sourcing and Vendor Management


Page Count: 76