Global Finance & Accounting Outsourcing industry

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Global Finance & Accounting Outsourcing industry
Published on April 2010

Report Summary

This report analyzes the worldwide markets for Finance & Accounting Outsourcing in US$ Million. The report provides separate
comprehensive analytics for the US, Asia-Pacific, and Rest of World. Annual estimates and forecasts are provided for each region for
the period 2006 through 2015. The report profiles 155 companies including many key and niche players such as Accenture Ltd., ACS,
Inc., Capgemini SA, Genpact Ltd., Hewlett-Packard Development Company, L.P., Infosys BPO Limited, International Business
Machines Corporation, Steria Limited, Wipro BPO, and WNS Global Services. Market data and analytics are derived from primary
and secondary research. Company profiles are mostly extracted from URL research and reported select online sources.

Table of Content

FINANCE & ACCOUNTING OUTSOURCINGMCP-6017
A GLOBAL STRATEGIC BUSINESS REPORT

CONTENTS

I. INTRODUCTION, METHODOLOGY & PRODUCT DEFINITIONS

Study Reliability and Reporting Limitations I-1
Disclaimers I-2
Data Interpretation & Reporting Level I-3
Quantitative Techniques & Analytics I-3
Product Definitions and Scope of Study I-3

II. EXECUTIVE SUMMARY

1. INDUSTRY OVERVIEW II-1
Finance & Accounting Services Outsourcing Market - An Overview II-1
Current & Future Analysis II-1
Impact of Global Economic Crisis on Outsourcing Market II-2
F&A Outsourcing -Growth Opportunity for BPO Sector II-2
At a Glance II-3
Regulations & Economic Slowdown Drive Market for F&A BPO
Services II-3
Competitive Landscape II-4
F&A BPO Competitive Landscape II-4

Global Finance & Accounting Outsourcing industry Page 1/8


Competition Intensifies Among FAO Service Providers II-5
Table 1: Leading Players in the Global FAO Market (2008):
Percentage Share Breakdown of Total Contract Value for
Accenture, IBM, Genpact, ACS, Capgemini, WNS, Steria, HP,
and Others (includes corresponding Graph/Chart) II-5

2. MARKET DYNAMICS II-6
FAO Suppliers Prefer Add-On Technology Solutions II-6
Market Highlights II-6
Growth in New & Renewed FAO Contracts II-6
Average FAO Contract Value & Size on a Decline II-7
F&A Outsourcing for Small Businesses II-7
Integration of Accounting Software II-8
Financial Accounting for Small Enterprises II-8
Accounting Services Outsourcing in CPA Firms II-9
Software-as-a-Service Gains Popularity II-9
Increased Adoption of FAO Solutions by Mid-Market Companies II-9
Mid-Market FAO Market - At a Glance II-10
Major Offshoring Trends in F&A Sector II-10
Accounting Outsourcing Services - A Critical Function of FAO
Market II-11
Table 2: Global Accountancy Outsourced Market (2009):
Percentage Share Breakdown by Region for Europe, North
America, Asia-Pacific, Middle East and Africa, and Others
(includes corresponding Graph/Chart) II-12
Technological Innovations Drive FAO Market II-12
Offshore Service Providers Fuel Demand II-12

3. PRODUCT OVERVIEW II-14
Introduction to Finance and Accounting Outsourcing II-14
Need for Finance and Accounting Outsourcing II-14
Common Functions included under Finance & Accounting Services II-14
FAO Services - Breakdown by Level of Complexity & Enterprise
Value Addition II-15
AR & AP - Most Commonly Outsourced F&A Activities II-15
Objectives and Advantages of F&A Outsourcing II-16
Cost reduction II-16
Realizing Business Value II-16
Access to Talent Pool II-16
Focus on Core Business Areas II-17
Performance Improvement II-17
Increasing Working Capital II-17
Advanced F&A Technologies II-17
Focus on Integrated Solutions II-17
Risk Transference to Supplier II-17
Facilitates M&A Activity II-17
Disadvantages of F&A Outsourcing II-18

4. RECENT INDUSTRY ACTIVITY II-19
SS&C Technologies Takes Over Evare II-19



Perot Systems Purchases BearingPoint Management Consulting II-19
Genpact Receives Multiple Year F&A Services Contract from
United Biscuits II-19
Genpact Bags 5 Year Contract for F&A Services from UCB II-20
Information Mosaic and Broadridge Financial Sign Agreement II-20
BearingPoint and PricewaterhouseCoopers Ink Agreement II-20
ProMutual Selects Northern Trust for Financial Reporting and
Insurance Accounting Solutions II-21
Capita Group Purchases Parts of Capmark's European Financial
Services II-21
Visma Takes Over Teemuaho Group II-21
Opportune Purchases PetroAcct II-21
FNIS to Buy Metavante Technologies II-22
3i Infotech Establishes BPO Subsidiary II-22
BKD Merges with KBA Group II-22
Headstrong Takes Over Lydian Data Services II-22
Headstrong Takes Over iX Partners II-23
TCS to Unveil BPO Services for Finance and Accounting II-23
UCFA Designs Suite of Outsourced Services II-23
Convergys Inks Collection Services Agreement with Financial
Services Company II-24
Manpower Software Enters into Alliance with NHS Shared
Business Services II-24
Steria Renews F&A Outsourcing Agreement with Telefónica II-24
WNS Acquires Aviva's BPO Division Aviva Global Services II-25
Serco Group to Take Over InfoVision Group II-25
Steria Receives F&A Outsourcing Contract from Whitbread II-25
Doughty Hanson to Acquire Netherlands Based Outsourcing Firm TMF II-25
OPI Establishes F&A Outsourcing Service Center in Kuala Lumpur II-25
WNS Acquires BizAps to Optimize ERP Capability for F&A Services II-26
REcap Partners to Acquire HOV Services II-26
Accenture and Bristol-Myers Squibb Ink 10-Year Agreement for
F&A Outsourcing II-26
Xchanging to Purchase Cambridge Solutions II-27
Cambridge Solutions and In Genius Solutions Enter into
Partnership II-27
CFC India Services Merges with BA Continuum Solutions II-27
TCS Takes Over Citigroup Global Services II-28
Sapient Purchases Derivatives Consulting Group II-28
The Hanke Group Merges with BKD II-29
HCL Technologies Takes Over Liberata Financial Services II-29
Visma Takes Over Actit II-29
Pandell Technology Purchases Dowwest Accounting Management II-29
Capgemini and Unilever Ink Agreement II-30
Adventity Enters into Joint Venture with Noor Investment
Group LLC II-30
Pangea3 LLC Establishes TARP Services Division II-31
NetSol Technologies Launches BPO Practice II-31
Convergys Inks Contract with Financial Services Company II-31
Accenture Inks Multiple Year Outsourcing Agreement with



Thomas Cook Group II-32
Accenture Inks Agreement with Microsoft for F&A and
Procurement Services II-32
Accenture and BT Sign Multiple Year BPO Contract II-32
Computer Sciences and Northstar Financial Services Sign Contract II-33
Computer Sciences and John Hancock Financial Services Extend
Contract II-33
WNS Assistance Takes Over FLOvate Technologies II-34
BISYS Retirement Services Takes Over Frontier Trust II-34
Fidelity National Information Purchases eFunds II-34
Copeley Capital Purchases EMS Management & Consultants II-34
Forest River Takes Over Priority One Financial II-35

5. FOCUS ON SELECT GLOBAL PLAYERS II-36
Accenture Ltd. (Bermuda) II-36
ACS, Inc. (US) II-36
Capgemini SA (France) II-36
Genpact Ltd. (US) II-37
Hewlett-Packard Development Company, L.P. (US) II-37
Infosys BPO Limited (India) II-37
International Business Machines Corporation (US) II-38
Steria Limited (UK) II-38
Wipro BPO (India) II-38
WNS Global Services (US) II-38

6. GLOBAL MARKET PERSPECTIVE II-39
Table 3: World Recent Past, Current & Future Analysis for
Finance & Accounting Outsourcing by Geographic Region - US,
Asia-Pacific, and Rest of World Markets Independently Analyzed
with Annual Revenue Figures in US$ Million for Years 2006
through 2015 (includes corresponding Graph/Chart) II-39

Table 4: World 10-Year Perspective for Finance & Accounting
Outsourcing by Geographic Region - Percentage Breakdown of
Annual Revenues for US, Asia-Pacific, and Rest of World
Markets for Years 2006, 2009 & 2015 (includes corresponding
Graph/Chart) II-40

III. MARKET

1. THE UNITED STATES III-1
A.Market Analysis III-1
Outlook III-1
FAO Market - An Overview III-1
Outsourcing Gains Strength in Mid-Market Segment III-1
Latin America - The New Offshore Destination for FAO Services III-1
Strategic Corporate Developments III-2
Key Players III-11
B.Market Analytics III-13



Table 5: US Recent Past, Current & Future Analysis for
Finance & Accounting Outsourcing Analyzed with Annual
Revenue Figures in US$ Million for Years 2006 through 2015
(includes corresponding Graph/Chart) III-13

2. ASIA-PACIFIC III-14
Outlook III-14
FAO Market in Asia-Pacific III-14
India III-15
A Major Destination for Outsourcing III-15
Benefiting from Rising Demand for Outsourced F&A Services III-15
Growth Drivers for Offshoring Market III-15
Australia III-16
Outsourcing Services On a Roll III-16
Key Players III-19
Table 6: Asia-Pacific Recent Past, Current & Future
Analysis for Finance & Accounting Outsourcing Analyzed with
Annual Revenue Figures in US$ Million for Years 2006 through
2015 (includes corresponding Graph/Chart) III-20

3. REST OF WORLD III-21
Outlook III-21
Europe III-21
Europe Leads Global Outsourcing Market III-21
Growth Drivers for FAO Market III-21
Table 7: Factors Contributing to Outsourcing of F&A
Functions - Proportion (%) of EU Companies Opting to
Outsource (includes corresponding Graph/Chart) III-22
FAO Growth in Mid-Market Segment III-22
Factors Driving FAO Adoption in Mid-Market Segment III-23
Advantages of FAO for Mid-Market Firms III-23
Challenges Facing Mid-Market Companies in Outsourcing F&A
Functions III-24
Complicated Language Requirements III-24
Fragmentation & Scale Limitations in Processes III-24
Shortage of Qualified Staff III-24
Inability to Absorb High Initial Costs III-24
Achievement of Targeted Cost Reduction III-25
Other Challenges III-25
Accounting Services Market in Europe III-25
The Netherlands III-25
United Kingdom III-26
Key Players III-29
Table 8: Rest of World Recent Past, Current & Future



Analysis for Finance & Accounting Outsourcing Analyzed with
Annual Revenue Figures in US$ Million for Years 2006
through 2015 (includes corresponding Graph/Chart) III-31

IV. COMPETITIVE LANDSCAPE

Total Companies Profiled: 155 (including Divisions/Subsidiaries - 159)

------------------------------------------
Region/Country Players
------------------------------------------
The United States 74
Canada 2
Europe 16
France 1
Germany 1
The United Kingdom 10
Rest of Europe 4
Asia-Pacific (Excluding Japan) 68
------------------------------------------



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