 |
 Back to 2005 Press Releases
|
Gartner Says Finance and Accounting Business Process Outsourcing (BPO) Set to Become $4 Billion Market in Europe By 2008 |
Egham, UK — 5 July 2005: An increasing number of companies are looking to outsource portions of their finance and accounting processes, and business process outsourcing providers are gearing up to meet the demand, according to research recently published by Gartner. As a result, the finance and accounting business process outsourcing (F&A BPO) market will grow at around ten percent in Western Europe to become a $4 billion market by 2008. In the report, ‘Finance and Accounting BPO: Key Options and Considerations’, Gartner outlines key drivers and inhibitors in the European Finance and Accounting markets, provides advice on best practices, and examines the offerings from some of the leading providers in this emerging market.
Key findings include:
- The European finance and accounting business process outsourcing market is still immature; currently there are approximately 70 F&A BPO deals in Europe, with an average value of 40 million to 100 million euros. Gartner predicts that by the end of 2006, an additional 12 major F&A BPO deals will be signed in the region
- Only a few major companies have signed up to outsource more than one process; the majority of their F&A BPO deals so far have only outsourced selected portions, such as accounts payable processing
- BPO providers would like to increase their scope of services
- BPO providers are especially worth considering, for companies that have a large pan-European finance and accounting team that could benefit from automating more activities and consolidating to a centralised location
|
About Gartner:
Gartner, Inc. is the leading provider of research and analysis on the global information technology industry. Gartner serves more than 10,000 clients, including chief information officers and other senior IT executives in corporations and government agencies, as well as technology companies and the investment community. The Company focuses on delivering objective, in-depth analysis and actionable advice to enable clients to make more informed business and technology decisions. The Company's businesses consist of Research and Events for IT professionals; Gartner Executive Programs, membership programs and peer networking services; and Gartner Consulting, customized engagements with a specific emphasis on outsourcing and IT management. Founded in 1979, Gartner is headquartered in Stamford, Connecticut, and has over 3,900 associates, including more than 1,100 research analysts and consultants, in more than 75 locations worldwide. For more information,
visit www.gartner.com.
|
Press Contact:
For a copy of the research and to speak to the analyst that wrote it, please contact Bite Communications on Tel: +44 (0)20 8834 3508 or email: gartner@bitepr.com.
|
|
|
|
|
|
|
