Finance, Accounting Outsourcing Expected to Reach More Than $25 Billion This Year

DominoA new report says that spending on outsourcing of accounting and finance functions should reach more than $25 billion in 2013.

The market forecast, by KPMG and HfS Research, said that finance and accounting business process outsourcing (BPO) increased 13% in 2012 after several down years. The study says 90% of BPO engagements are meeting cost reduction and efficiency goals, with “a host of enterprises now looking to augment of start their F&A BPO initiatives.”

The “Big Four” of F&A are Accenture, IBM, Genpact and Capgemini, which dominate the market. The study also said that providers need to invest in more F&A experts to have strategic converations with clients. It also said that the providers market themselves poorly. “With a couple of exceptions, most of the providers appear incapable of develop compelling thought leadership and winning mindshare and awareness from enterprise executives.”

Read the full report .