Outsourcing some aspects of finance and accounting is becoming an accepted practice in Asia. The processes that are outsourced are mainly transactional – procure-to-pay (82%), order-to-cash (60%) and record-to-report (55%). However, 22% of companies are outsourcing financial planning and analysis.
Among this study's findings are the following:
- Finance outsourcing is becoming prevalent in Asia
- Cost savings top the list of key drivers
- Transactional activities are outsourced first
- Companies are generally happy with outsourcing
- Stakeholder buy-in and cleaned up processes are keys to success
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