Upcoming ISG Provider Lens reports will evaluate transformation and outsourcing of financial operations for higher efficiency and better decision-making
Information Services Group, a leading global technology research and advisory firm, has launched a research study examining finance and accounting outsourcing services that help enterprises make their financial operations more efficient and effective.
“Every FAO contract signed in the last two years has included automation and analytics”
The study results will be published in a comprehensive ISG Provider Lens™ report, called Finance and Accounting Outsourcing Services 2022, scheduled to be released in September. The report will cover providers of services ranging from simple, transactional order-to-cash (O2C) operations to complex financial planning and analysis (FP&A) processes that support strategic decision-making.
Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.
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Over the past few years, enterprises have elevated finance and accounting outsourcing (FAO) engagements from transactional contracts to holistic partnerships. Facing supply-chain disruptions and organizational changes triggered by the COVID-19 pandemic, companies are increasingly willing to transform their finance and accounting operations using digital technologies. This can cut costs, increase efficiency and productivity, improve data accuracy and enhance customer experience. Emerging technologies, including data analytics, intelligent automation, AI and blockchain, offer new ways to improve F&A processes.
“Every FAO contract signed in the last two years has included automation and analytics,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Leading service providers can help clients find the best mix of technologies to transform their operations.”
ISG has distributed surveys to more than 30 providers of FAO services. Working in collaboration with ISG’s global advisors, the research team will produce four quadrants representing the FAO services the typical enterprise is buying, based on ISG’s experience working with its clients. The four quadrants are:
- Procure-to-Pay (P2P) Services, evaluating providers that can carry out the full range of accounts payable processes, from capturing and processing invoices to ensuring on-time payment.
- Order-to-Cash (O2C) Services, assessing providers of end-to-end O2C services for efficiently receiving and fulfilling customer requests, which can reduce days sales outstanding and improve a company’s pricing flexibility.
- Record-to-Report (R2R) Services, covering companies that provide end-to-end R2R services, such as general ledger accounting and reconciliation, regulatory compliance and risk management, using tools that include automation and advanced business analytics.
- Financial Planning and Analysis (FP&A) Services, evaluating providers that deliver comprehensive, meaningful data and insights for functions such as budgeting, forecasting, financial planning and M&A and divestiture analysis.
A quadrant report will cover the global market for finance and accounting outsourcing services and examine products and services available globally. ISG analysts Angus Macaskill and Jocelyn Cheung will serve as authors of the report.
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An archetype report will also be published as part of this study. This report, unique to ISG, is the study of typical buyer types of FAO services as observed by ISG advisors.
A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as FAO services providers can contact ISG and ask to be included in the study.
All 2022 ISG Provider Lens™ evaluations now feature new and expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.
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