A KPMG and Hfs Research study showed that finance and accounting outsourcing is doing well as 90 percent were seen reaching their cost reduction targets and performance goals. The sector is seen to earn $25 billion worldwide this year.
Meanwhile, business executives are still working on improving current processes to effectively reach, or even surpass, targets, especially at the heels of the global economic downturn. Large businesses are more aggressive in using outsourcing and other business solutions to reduce costs.
According to Ron Walker, partner and Finance and Accounting Service Division Executive at KPMG’s Services and Outsourcing Advisory practice, enterprise leaders should see outsourcing as an addition to the operation and not a substitute.