The global multi-process Finance and Accounting Outsourcing (FAO) market continued to grow at a steady rate of 11-13% in 2022 and is expected to continue this growth trajectory for the next three years. Surging inflation, recessionary environment, geopolitical instability, coupled with the volatility that the pandemic left the enterprises in, has increased enterprises’ openness to leverage third-party service provider support for their finance functions. The strategic focus of service providers is becoming more elevated as they emphasize upstream F&A operations alongside routine tasks. This change underlines how corporations are realizing the strategic value of F&A. At the same time, there is a growing focus on non-traditional F&A areas including risk management, compliance, sustainability, and data & analytics. Notably, cognitive technologies have moved from pilot stages to widespread usage, denoting a considerable change in the approach to and execution of F&A activities. Advisory services are becoming prominent, with service providers supporting enterprises to successfully navigate through complex financial environments. These trends are driving incremental changes in the commercial construct of FAO deals, indicating an evolving and value-driven industry landscape.

In this research we assess 28 FAO service providers based on their vision & capabilities and impact on the FAO market, and position them on two Everest Group PEAK Matrix® assessments for FAO and Order-to-Cash (O2C) services.

Scope

• Geography: global
• Services: FAO

Contents

In this research, we focus on:

• Everest Group’s FAO services PEAK Matrix® evaluation, a comprehensive assessment of 28 FAO service providers
  • 2023 FAO PEAK Matrix Leaders, Major Contenders, and Aspirants, as well as Star Performers
  • 2023 O2C PEAK Matrix Leaders, Major Contenders, and Aspirants
  • Service provider capability assessment
• FAO service provider landscape
• Key strengths and limitations of each FAO service provider

Membership(s)

Finance and Accounting

Sourcing and Vendor Management