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Finance and Accounting Outsourcing Vendor Ranking

Untitled Document
Breadth of Coverage
Client coverage, contract value in FAO market and experience in the FAO industry are the parameters considered for measuring vendor’s Breadth of Coverage.
  • Client Coverage – This includes geographical coverage of the clients.
  • Contract Value in FAO Market – This is the provider's contribution of Total Contract Value to FAO Industry as per the data available on public domains for first half of 2008.
  • Experience in the FAO industry – This is the experience counted from the year of entry in FAO industry.
Potential to Grow
Breadth of services, innovation / M&A activities / expansion plans and overall visibility / customer reviews are the parameters considered for measuring vendor’s Potential to Grow.
  • Breadth of Services - Wide range of services are covered here which are further categorized according to their strategic importance in the value chain. In addition, vendors providing end-to-end services are given higher weightage.
  • Innovation / M&A activities / Expansion plans - It includes company's organic growth, geographical expansion, mergers, and acquisition activities. It also considers other kinds of plans/strategies, which can contribute to the company’s future growth.
  • Overall viability and Customer Reviews – It includes responses to the customers, customer feedback or firms strategy towards this segment etc. Apart from this, the analytics considers one more parameter i.e. Overall brand name and reputation of the company.
Pioneers/Frontrunners/Key Players
Their broad range of service offerings and a balanced rate of growth can identify industry pioneers. Such players, typically, have a large client base (relative to market size) and deliver services across industries. In addition, they operate from multiple locations worldwide.
Emerging Players
Emerging Players are potential leaders of tomorrow. They demonstrate a high growth rate and have several growth strategies in the pipeline to target multiple industries. These players have a rapidly expanding client base and provide services from growing number of locations.
Specialized Players
Specialized Players offer limited but quality services. They have a moderate client base and operate from multiple locations. As compared to leaders and contenders, they operate on a smaller scale.
Contenders deliver a wide range of services and design innovative strategies, products and services to promote healthy competition. Such players operate from multiple locations and concentrate on several industries.
Finance and Accounting Outsourcing: Industry Overview
Outsourcing seems to be a winning solution for all the enterprises to battle against the cutthroat competition as well as global recession. In this spectrum of outsourcing the ray of finance and accounting, outsourcing has its own importance. Value addition through outsourcing, financial innovation, real-time accounting integration, budgeting, and forecasting are actually adding brightness to this ray.

The thought of achieving operational excellence through latest technological applications by specialists from the other side of the globe has influenced most of industry verticals. In order to realize outsourcing benefits and stay competitive, top executives and strategy makers are deciding on outsourcing Finance and Accounting functions.

On the other side, service providers are also plunging into the FAO services considering its higher demand and growth. Considering all the facts FAO is a win-win situation for both the parties.

The FAO industry expects a strengthening demand with the double-digit growth rate. Industry estimates expects the global FAO market to be more than USD 50 billion by 2010 with the five-year CAGR of more than 10 percent. The success of FAO is attributed to the fact that it goes beyond just direct cost savings. Over a period, the service providers have grown-up to offer improved, customized business processes and make an organization respond promptly to varying business needs. Additionally recent aggressive participation of a large number of Indian outsourcing service providers have leveraged the Finance and Accounting off shoring to the extent that the number of contracts have risen to more than double.
Finance and Accounting Outsourcing - Vendor Snapshots
HQ: Canon's Court, 22 Victoria Street, Hamilton HM 12, Bermuda
Phone: +1 (441) 296-8262
Accenture, with more than 186,000 employees and net revenue of USD 23.39 billion for fiscal year'08 has its offices and operations in more than 200 cities in the 52 countries. The firm operates in management consultancy, technology services, and outsourcing as domain areas across a wide spectrum of industry verticals. Accenture FAO services leverages its expertise and research-based knowledge to help complex, multinational companies achieve high performance within finance. It also offers unique set of tools designed to reduce risk and increase finance efficiency.
HQ: Armonk, New York, USA
Phone: +1-914-4991900
IBM’s major operations include a Global Technology Services (GTS) segment, a Global Business Services (GBS) segment, a System and Technology segment, a Software segment and a Global Financing segment. IBM offers Finance and Administration (F&A) solutions that are broad reaching. From "lift and shift" outsourcing to technology-enabled, innovative best practice solutions, IBM’s services integrate and manage the full F&A footprint including transaction processing, record-to-report, performance management/decision support processes and capital platform management
HQ: Gurgaon - 122002, Haryana, India
Phone: +91 124 402 2000
Genpact began in 1997 as the India-based business process services operation for GE Capital. In 2005, with equity investments from General Atlantic and Oak Hill Capital Partners, it became an independent company and was rebranded Genpact. It has set up and managed 27 BPO centers in different parts of the world over the past 10 years. Genpact provides its services across a wide range of industries including banking and financial services, insurance, manufacturing, transportation and healthcare with over 6,250 professionals across 24 locations. It provides a wide range of services, including Finance & Accounting, Collections and Customer Service, Insurance, Supply Chain & Procurement, Analytics, Enterprise Application and IT Infrastructure.
HQ: Paris, France
Phone: +33 (0)1 57 58 51 00
Capgemini, founded in 1967, is into worldwide IT and consulting services. It operates in more than 36 countries with over 88,000 people in North America, Europe, and the Asia Pacific region. Its F&A services cover a wide range of industries including financial services, manufacturing, utilities, distribution, and retail. They work with over 30 companies on more than 20 different accounting systems and in more than 34 different languages.
HQ: Vikhroli West, Mumbai 400 079
Phone: +91 22 4095 2100
WNS, an offshore FAO service provider, delivers transactional and corporate accounting and specialized services such as Treasury and Tax Processing for global companies. It serves several industries, including travel, banking, financial services, insurance, manufacturing, retail, logistics, utilities and professional services. In addition to industry-specific services, it offers a range of services across multiple industries, in areas such as finance and accounting; human resources; supply-chain management; market, business and financial research, and analytical services. Service offerings provide end-to-end support to their clients across consulting services, BPO delivery and IT solutions. Through operational excellence and deep industry and functional knowledge, it delivers value to critical business processes of its customers.
Hewlett Packard
HQ: 3000 Hanover Street, Palo Alto, CA 94304-1185 USA
Phone: (650)857-1501
HP, founded in 1939, is a technology company that operates in more than 170 countries around the world. With approximately 320,000 employees worldwide, HP has gained revenue-totaling USD113.1 billion for the four fiscal quarters ended July 31, 2008. The firm has developed and managed world-class global shared services organization and the F&A service offerings cover an extensive range of services such as accounts payable, accounts receivable, travel and expense administration, fixed asset management, general ledger, treasury accounting, tax accounting etc. that can be customized and created into an end-to-end solution. HP have already used its excellent technology infrastructure, established global footprint and extensive process expertise to successfully transition and improve more than 500 F&A processes.
EXL Services
HQ: 350 Park Avenue, 10th Floor, New York, NY 10022
Phone: +1 212-277-7100
EXL, a leading end-to-end business process outsourcing solution provider, caters to various sectors including insurance, banking, and financial services, utilities, healthcare, and media. It offers end-to-end F&A services in the area of strategy formulation, process optimization, process outsourcing, and risk consulting. They provide consulting support in finalizing strategies on F&A outsourcing and facilitating process improvements on the processes. They have extensive migration, re-engineering and quality management experience on F&A processes and manage large and complex processes.
Affiliated Computer Services Inc
HQ: 2828 North Haskell, Dallas, TX 75204
Phone: (214) 841-6111
ACS, founded in 1988, provides end-to-end business process and information technology outsource services in more than 100 countries from 750 locations with an annual revenue of more than USD 6.2 billion. With its human strength of 6500 professionals, ACS brings innovative offerings for Finance & Accounting, Human Resources, Information Technology, Transaction Processing, and Customer Care to their clients in Government, Communications, Manufacturing, Retail, Financial Services, Healthcare, Education, and Transportation. Order-to-cash, Procure-to-pay, Employee payments, General accounting, Treasury and cash management analysis etc. are the major F&A outsourcing service Offered by ACS.
Infosys BPO
HQ: Plot No. 44 & 97A, Electronics City, Hosur Road, Bangalore - 560 100
Phone: (080) 28520261
Infosys Technologies Ltd., started in 1981, operates in 26 countries with the service offerings in business and technology consulting, application services, systems integration, product engineering, custom software development, maintenance, re-engineering, independent testing and validation services, IT infrastructure services and business process outsourcing. With 100300 employees it has attained a CAGR of 39 percent during the last 5 years. With the revenues of USD 4.60 billion as of September 2008, they have global clients across banking, manufacturing, telecom, publishing, Media and entertainment, automotive, services and distribution. The FAO solutions offered by Infosys were backed by firm's domain expertise, robust methodologies, F&A-specific toolset and risk management framework.
Wipro BPO
HQ: "Doddakannelli Sarjapur Road Bangalore - 560 035"
Phone: 91-80-2844-0011
Wipro BPO leverages its tenets of quality and innovation, the best people talent of 19,500 employees, self-sustaining process framework and domain knowledge while serving its client base. It offers customized service offerings; translating into the most flexible and cost effective services of the highest quality for their customers in almost all the verticals of the industry wherein the banking and capital markets, insurance, travel and hospitality, technology manufacturing, retail, telecom, and healthcare sectors are few to name. Its major offerings in F&A, procurement, HR services, legal services, loyalty services, and knowledge services are spread across 11 locations throughout India, China, the Philippines, and Eastern Europe.
Outsource Partners International (OPI)
HQ: 11150 Santa Monica Boulevard, Suite 350, Los Angeles, CA 90025, US
Phone: 310.312.6635
OPI was formed in 2002 through the merger of a big four accounting firm's business process outsourcing (BPO) division and itAccounts, an innovative finance and accounting business process outsourcing company that had established an offshore F&A outsourcing facility in Bangalore, India. OPI’s representative clients range in size from USD 100 million to multi-billion dollar organizations and operate in a broad range of industries including service, manufacturing, financial services, technology/telecommunications, energy, logistics/transportation, hotel/restaurant retail and not-for-profit. Outsource Partners International is a privately held company and has been financed at various stages by various venture capital firms like Cargill Ventures, Trident Capital, Winston LP.
HQ: Three Cherry Trees Lane, Hemel Hempstead, Hertfordshire, HP2 7AH
Phone: +44 (0)845 601 8877
Steria acquired Xansa in October 2007 for USD 703.18 million (Conversion rate: 1 British Pound = USD 1.4898 as on 02/09/2009) and the combination has brought complementary strengths in services and client base. The firm offers competitive advantage through an entire set of IT enabled business functions. They follow an integrated on/near/off shore delivery model with the combined revenue of USD 2.58 billion (Conversion rate: 1 Euro = USD 1.2943 as on 02/09/2009) and over 19,000 people worldwide. The customized services offered in the field of Finance and Accounting functions such as General Accounting, Treasury & Cash Management, and Order to Cash, Purchase to Pay, Employee Payment, and other Industry specific processes to a wide spectrum of industry verticals have enabled the firms focus on core business processes.
Sourcenet Solutions, Inc. (BNY Mellon)
HQ: 211 Quality Circle Drive College Station, TX 77845
Phone: 979-691-7700
HQ: 201 East Fourth Street, Cincinnati, Ohio 45202
Phone: +1 513-723-7000, +1 888-284-9900
Convergys employs nearly 75,000 employees who serve clients in over 70 countries, from 79 sites across the globe. It is a Fortune Most Admired company for seven consecutive years, and more than half of the top 50 Fortune 500 companies are Convergys’ clients. They cater to various industries including communications, financial services, government, health care, manufacturing, retail, technology, and transportation.