Finance and Accounting Outsourcing (FAO) 

The global multi-process Finance and Accounting Outsourcing (FAO) market continued to grow at a steady rate of 11-13% in 2022 and is expected to continue this growth trajectory for the next three years. Surging inflation, the recessionary environment, and geopolitical instability, coupled with the volatility that the pandemic left the enterprises in, have increased enterprises’ openness to leverage third-party service provider support for their finance functions. The strategic focus of service providers is becoming more elevated as they emphasize upstream F&A operations alongside routine tasks. This change underlines how corporations are realizing the strategic value of F&A. At the same time, there is a growing focus on non-traditional F&A areas, including risk management, compliance, sustainability, and data & analytics. Notably, cognitive technologies have moved from pilot stages to widespread usage, denoting a considerable change in the approach to and execution of F&A activities. Advisory services are becoming prominent, with service providers supporting enterprises to successfully navigate through complex financial environments. These trends are driving incremental changes in the commercial construct of FAO deals, indicating an evolving and value-driven industry landscape.

FAOPEAK2023 1O2CPEAK2023

What is in this PEAK Matrix® Report

In this research we assess 28 FAO service providers based on their vision, capabilities, and impact on the FAO market, and position them on two Everest Group PEAK Matrix® assessments for FAO and Order-to-Cash (O2C) services.
 

In this research, we focus on:

  • Everest Group’s FAO services PEAK Matrix® evaluation, a comprehensive assessment of 28 FAO service providers
    • 2023 FAO PEAK Matrix Leaders, Major Contenders, and Aspirants, as well as Star Performers
    • 2023 O2C PEAK Matrix Leaders, Major Contenders, and Aspirants
    • Service provider capability assessment
  • The FAO service provider landscape
  • Key strengths and limitations of each FAO service provider

Scope

  • Geography: global
  • Services: FAO

Related PEAK Matrix® Assessments

Marketing Services PEAK Matrix® Assessment 2024
PEAK Matrix®

Marketing Services PEAK Matrix® Assessment 2024

Financial Crime and Compliance (FCC) Operations Services
PEAK Matrix®

Financial Crime and Compliance (FCC) Operations Services PEAK Matrix® Assessment 2024

Retail IT Services
PEAK Matrix®

Retail IT Services PEAK Matrix® Assessment 2024

Healthcare Payer Digital Services
PEAK Matrix®

Healthcare Payer Digital Services PEAK Matrix® Assessment 2023

Our Latest Thinking

1200x628 Disruption and Uncertainty Get the Presentation
Events

Disruption and Uncertainty: Today’s CFO Agenda

service providers
Blog

Cognizant Conveys its Commitment to Growth to Analysts at Inaugural Event with New Leadership Team

Top CFO Challenges 2020 versus 2022
Market Insights™

Top CFO Challenges, 2020 versus 2022

Finance and Accounting Transformation Initiatives
Market Insights™

Finance and Accounting Transformation Initiatives

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

How can we engage?

Please let us know how we can help you on your journey.

Contact Us

"*" indicates required fields

Please review our Privacy Notice and check the box below to consent to the use of Personal Data that you provide.