Tag: FAO

Finance and Accounting Outsourcing (FAO) PEAK Matrix® Assessment 2023

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.

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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

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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.

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Disruption and Uncertainty: Today’s CFO Agenda | Webinar

ON-DEMAND Webinar

Disruption and Uncertainty: Today’s CFO Agenda

Access the on-demand webinar, which was delivered on Tuesday, August 1, 2023.

As we continue to experience economic uncertainty, CFOs and the finance function in particular face a multitude of challenges, including pricing and cost pressures, shifting customer demand, threats to existing business models, and the ongoing shortage of key talent.

Watch this on-demand webinar as our experts discuss the key priorities for CFOs amidst ongoing disruption, instability, and unpredictability. Participants will gain insights into the challenges organizations face and the steps taken to mitigate them, the evolving landscape of Finance and Accounting (F&A) transformation, key areas driving investments, and the expected role of third-party service providers in this journey.

What questions will the on-demand webinar answer for the participants?

  • What are the key challenges organizations are facing in the current environment?
  • What are the crucial steps taken by organizations to navigate the challenges?
    What is shaping F&A transformation today?
  • Which F&A transformation approaches should enterprises follow?
  • Which F&A areas are driving investments?
  • What is the expected role of third-party service providers / shared services in supporting businesses?

Who should attend?

  • CFOs
  • Finance heads
  • SVPs, EVPs, VPs, AVPs, and directors of finance
  • Controllers
  • BPO strategy heads
  • Heads of outsourcing
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Practice Director

SMBs Turning To Finance and Accounting Outsourcing Because Of The Cloud | Sherpas in Blue Shirts

An interesting phenomenon is happening because of digital transformation. As enterprises collapse their technology and functional stacks through digital, it disrupts their talent model and leads to a new organizational risk. At the same time, it’s starting to drive a new market for service providers. Let’s take a closer look at this developing trend where it’s currently most evident – in the Finance and Accounting (F&A) processes in small and mid-sized enterprises.

In collapsing the technology stack, companies move from running financial management software on their servers with a license update to cloud-based SaaS systems (such as Intacct or NetSuite) that provide the software and a more flexible set of reporting functions. The standardization and functionality benefits are great.

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