Original Source: Outsourcing Center
“As the economy survives extraordinary challenges, enterprises of all sizes are exploring options they had previously ignored. Outsourcing of finance and accounting functions is one such option.
The scenario is rapidly changing, as cautious CFOs turn enthusiastic outsourcing converts driven by finance and accounting needs that are very specific to industry demands and challenges. Some of these emerging F&A needs across various industries include*:
In addition to the specialized F&A demands, there is increased focus on regulations, risk and compliance measures with special emphasis on good corporate governance. These are key imperatives for any CFO today and spell out a new set of challenges for most FAO providers because the majority of current FAO solutions are tailored more towards achieving the benefits of cost reduction and improved process efficiencies.
- Credit analysis and loan accounting requirements in banking and financial services
- Actuarial, fiduciary and premium accounting needs in insurance
- Royalty accounting requirements in media and entertainment
- Franchisee and inventory accounting needs in retail and CPG
- Cargo revenue accounting & management and freight accounting needs in shipping and logistics
- Passenger revenue accounting, revenue recovery and fraud prevention requirements in travel and hospitality
- Meter billing needs in utilities…”
Categories: SIG U Resource, Whitepaper
SRC Type: Finance and Accounting Outsourcing (FAO), Outsourcing