In the wake of increasing business costs, are you looking to save valuable time, money and resources? Do you have lots of financial and accounting transactions and no one to take care of them? One sure short method to find a solution is to outsource your finance and accounting operations to an offshore service provider. If you are already contemplating this, you are just about to make the right decision.
According to a new report by Global Industry Analysts, Inc., the global finance and accounting outsourcing (FAO) market is all set to touch the $44.9 billion mark by the year 2015, primarily driven by the pressing need to cut operational costs.
Similarly, a recent report published by the Everest Group, a global consulting and research firm, states that the finance and accounting business in India is growing and stands at US$ 3.7 billion. It is further expected to grow by 20% this year!
Industries engaged in manufacturing, consumer packaged goods, retail, high-tech sectors, telecom and pharmaceuticals have especially benefited from FAO to India and though the recessionary effect did hit the industry in 2009, organic growth through contract extensions picked up significantly and contributed to almost 40% of the Annual Contract Value (ACV) growth in 2009.
The study by Everest Group also highlights that the domestic outsourcing market in Asia Pacific, including Australia and India, witnessed strong activity in 2009. The study only goes to reinforce that FAO can help companies achieve high performance by realizing tangible top and bottom-line benefits from improved finance processes, consistent technology and global delivery capabilities.
Know more about effective finance and accounting outsourcing services.