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Everest Group Examines Prominent FAO Service Providers Worldwide

by: Sarah Joson

Wednesday, May 18, 2011 | Outsourcing News |

Everest Group examined 20-plus FAO service providers and released data about the increasing progression of Finance and Accounting Outsourcing (FAO) service providers worldwide. The Global FAO Service Provider Landscape report states that 65% of the market by Annual Contract Value (ACV) and 55% of the number of contracts are represented by six of the leading FAO service providers.

However, several major service providers are quickly catching up, a phenomenon similar to that of the pre-recession era. The report includes analyses of provider dynamics, market share, performance, capabilities, and trends.

Leading FAO service providers

One of the factors of the survey is the PEAK (Performance/Experience/Ability/Knowledge) matrix. More than 20 FAO service providers were categorized as Leaders, bagged by known service providers like IBM and Genpact, as well as Capgemini, Infosys BPO, and HP. The Major Contenders are TCS, Wipro, WNS, and ACS-Xerox.

Others providers ranked in this category are Cognizant, EXL Services-OPI, iGate-Patni, Intelenet, Steria, Sutherland Global Services, and Vengroff Williams & Associates. Meanwhile, the Emerging Players are Aditya Birla Minacs, HCL, and KPIT Cummins Infosystems.

Last year, Accenture, Genpact, IBM, TCS, and WNS were hailed as 2010 FAO Market Star Performers, and were recently examined by the Everest Group.  These were the fastest year-on-year developing companies, according to the report.

Saurabh Gupta, vice president for Research said, “Now that buyers have snapped out of the recessionary lull in spending, competitive intensity is driving service providers to innovate and push the boundaries of traditional FAO solutions to capture market share. In response, service providers are investing in technology, maturity models, new markets, and differentiated offerings to deliver greater value in the market.”

Leading FAO providers are now offering flexible products and services to meet the demands of the market, which accounts for their growth, according to the report. Service vendors are also targeting diverse market sectors like India and the Middle East.


Source:
http://eon.businesswire.com/

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