Everest Group has conducted a survey, which revealed that outsourcing finance and accounting operations through business process outsourcing providers can lead to efficiency gains.
Digital business solutions provider Conduent supported the survey by offering insights in managing international finance, accounting and procurement (FA&P) enterprise operations.
Chief Financial Officers (CFOs) who took part in the survey reported an average return on investment (ROI) of 15% from their finance-related outsourcing investments.
The research identified four key finance areas with the highest ROI: management reporting and analysis with 43% of respondents, billing at 41%, accounts receivable with 40%, and capital budgeting at 39%.
Operational efficiency was ranked as the most important outcome by the CFOs surveyed, with 46% indicating it as their top priority.
This was closely followed by the goal of improving business metrics, which 39% of respondents deemed important.
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By GlobalDataLooking ahead, 94% of the CFOs are planning to concentrate their outsourcing efforts on predictive and prescriptive analytics over the next three to five years.
Conduent has summarised the survey findings along with its expertise in an ebook titled ‘Optimising finance operations through outsourcing: what works best?’.
This guide combines the research insights with Conduent’s experience in managing international FA&P enterprise operations, offering CFOs a roadmap for successful outsourcing strategies.
Conduent BPaaS Solutions president Jeff Weiner said: “We work with CFOs every day, tackling their business challenges such as solving for a lack of defined policies and standardised processes or limited use of process automation tools.
“Successful outsourcing partnerships stem from due diligence, vetting capabilities and experience plus evaluating an outsourcing partner’s approach and alignment with the company’s objectives. When companies connect with the right outsourcing partner, FA&P teams quickly achieve the benefits of outsourcing.”
In September 2024, Conduent was chosen by the American Samoa Department of Human and Social Services to overhaul and update the US territory’s legacy American Samoa Nutrition Assistance Programme system.
