By the outsourcing industry experts today since there are those solutions providers which the market prefers over the others, this is quite similar to how finance and accounting outsourcing is being perceived. Every sport has its players and guidelines and just like in a race there is an underdog and a crowd favorite. In terms of market share, it was reported by horses for sources that accenture and IBM have a greater percentage of the finance and accounting. The two are considered to be the main players in the particular field of outsourcing, in having the number of deals sealed annually and the size of their clients as the basis. With the dominance of these two players but it seems that even. The other companies have remained undaunted. The genpact whose back offices are situated in India has released a statement announcing that it has signed a 6 year contract extension with serco. The deal will allow Genpact to further improve the processes for Serco in different continents across the globe. They will be managing the finance and accounting processes for the international services company. This includes the accounts receivables, accounts payable, general accounting and payroll processes.
By endless, the addition to the recent funding of Liberata which is a London based company a leeds based management firm. The Liberata whose clientele includes the government and the local authorities is a solutions providers for finance and accounting services. The recent funding will allow the Liberata to streamline their processes. The Horses for sources has also mentioned that the deals for the finance and accounting outsourcing may experience a downturn in terms of the scope since it has been declining for the past couple of year. The long term prediction, companies are trying their best to avoid.
The accenture which is one of the companies who captures the larger portion of the pie presented in the blog of Horses for Sources, just recently opened a facility in the Philippines to support their finance and accounting solutions. This could be likely help alleviate the current challenges that the industry is facing since the resourced available are enough to support the demand of a deal with a wider scope.
Not all the location are conductive to the growth of the finance and accounting outsourcing industry. This is according to the Business Director of Acotax. The Russian market is cause for much celebration considering the sheer number of accounting solutions providers who rarely get past the three year infancy stage. There may be predication that the fiancne and accounting outsourcing industry will be facing a bump in the road, paving the way for the other industries including the IT outsourcing and recruitment processing to race ahead, but with the finance and accounting outsourcing services providers exhausting efforts to avoid then finance and accounting outsourcing may be able to cruise on ahead regardless.
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