Please have a look at Accounts Outsourcing Infographics Below
The use of finance and accounting outsourcing (FAO) continues to rise throughout the world.The FAO market,as measured by the number of contracts signed for large FAO agreements (those that include five or more processes and/or have a contract value of at least $50 million) has increased steadily since
2000, and by more than 45 percent since 2005 (Fersht). A March 2007 IDC (Interactive Data Corporation) report forecasts that the global FAO market will exceed $47.6 billion in 2008. Although the United States will remain the largest segment of the FAO market, the fastest- growing region includes Europe, the Middle East, and Africa
(EMEA) (Bingham).In the past 18 months, several large outsourcing agreements covering multiple finance and accounting processes were finalized. Earlier this year, the world’s top personal paper products manufacturer,Texas-based Kimberly-Clark Corporation,entered into a five-year contract with FAO provider Genpact. Genpact will operate Kimberly-Clark’s global accounts payable, travel and entertainment expense management, pricing administration, accounting-to-reporting, and supply-chain accounting processes. Late last year, Aktiebolaget SKF hired outsourcing provider Capgemini to manage multiple finance and accounting processes for several of the Swedish ball bearings