Resourceful outsourcing
Shehla
Raza Hasan
06 March 2003
Against this scenario, one of the segments within the BPO stable that is getting increasingly serious is finance and accounting (F&A) outsourcing, where customers want to go beyond transactions processing and seek trends analysis and crucial information that will help their chief financial officers make more informed decisions.
National Association of Software and Service Companies (Nasscom) says worldwide, a new trend seems to have set in and BPO majors are now redefining the boundaries of customer satisfaction. Todays customers are looking at BPO as a vehicle for achieving the greater target of business process transformation.
In the past, a majority of F&A outsourcing deals were focused on transaction processing. But, as in todays date, customers want BPO solution providers to manage business processes, all on a turnkey basis.
According to figures available with the International Data Corporation (IDC), out of the worldwide BPO market growth of $1.2 trillion in 2006, the F&A BPO market will touch around $65 billion, which is a 12.3-per cent five-year annual compounded growth, up from $36 billion in 2001. This establishes the fact that the F&A outsourcing market will be the fastest-growing BPO segment in the years to come.
Sample some of the reasons why F&A outsourcing is going to be a hot proposition for BPO players: