BPO DOMAIN  
 

You didn't go into business for the paperwork.....we did.
Five Fine is committed to maximize its clients’ returns through outsourcing business processes.

 

Business Process Services Offered by Five Fine :

  • Book-keeping Services.
  • Payroll Processing.
  • Forms Processing.
  • Data Entry, Data Processing and Data Conversion.
  • Scanning and Peripheral Support Services.
  • Event Management for Professionals and Corporate.
 
The global market for outsourcing finance and accounting functions is expected to grow at a 9.6% compounded annual growth rate (CAGR), and top $47.6 billion in 2008, according to a new report from IDC.
Altogether, the study presents the worldwide and U.S. finance and accounting (FA) business process outsourcing (BPO) market forecast and analysis by major region and distinct FA sub-processes, such as transaction management, finance, general accounting, treasury and risk management, and tax management, that make up the FA function.
According to the study, finance and accounting is not expected to become a fully outsourced function in the foreseeable future. "However, the scope of the FA BPO process will increase over time by embedding multiple FA functions and streamlining cross-function processes, such as procure-to-pay or order-to-cash," the report added.
Spending on outsourcing of the transaction management function is expected to grow the fastest, at 9.8%, over the next five years, the market researcher pointed out.
Spending on outsourcing of the transaction management function is expected to grow the fastest, at 9.8%, over the next five years, the market researcher pointed out.
Spending on outsourcing of tax management is expected to grow by 9.3% per year over the next five years while spending on general accounting functions is expected to grow 8.3% per year over the same period.
Accounts payable remains the most widely outsourced FA function, IDC noted.
"The finance and accounting BPO opportunity is one of the largest and fastest growing BPO segments," said Anna Danilenko, program manager, consulting and FA BPO Services. "As the opportunity matures, corporate buyers will increasingly be looking at FA vendors to provide an expanding range of services, collaborate on building full-scope back-office solutions, and solve strategic business challenges."
From a regional standpoint, the study figured that the U.S. will remain the largest FA business process outsourcing (BPO) market.
However, the region that encompasses Europe, the Middle East and Africa (EMEA) is expected to be the fastest growing one in terms of FA BPO spending in the short- to mid-term.
As is usually the case, cost cutting is still the primary reason companies outsource FA. However, the need to solve strategic business issues is increasingly driving FA BPO spending globally, IDC added.
The study also pointed out that processing services, business advisory services to senior finance executives, and services opportunities around financial compliance are expected to serve as the most effective leads into FA BPO arrangements.

It also noted that mergers and acquisitions among FA BPO vendors will continue to accelerate as providers aim at gaining market share, expanding into key regions and acquiring specialized business process and consulting expertise.
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
 
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Five Fine Consultancy Services Pvt. Ltd.