New research based on a survey of 200 CFOs by Everest Group, supported by Conduent Incorporated (Nasdaq: CNDT), a global technology-led business solutions and services company, shows that outsourcing finance and accounting with Business Process Outsourcing (BPO) providers helps internal teams quickly achieve meaningful efficiency benefits.
Finance areas with the highest ROI when outsourced
CFOs participating in the survey reported an average return on investment of 15% on their company’s finance-related outsourcing investments, with four areas showing the largest ROI:
|
Outsourced finance areas with largest ROI |
% of respondents |
|
Management reporting and analysis |
43% |
|
Billing |
41% |
|
Accounts receivable |
40% |
|
Capital budgeting |
39% |
Additional Findings:
- Operational efficiency is at the top of the CFOs’ list when ranking important outcomes with 46% of responders indicating highest importance, followed by improving business metrics at 39%.
- 94% of respondents plan to focus outsourcing efforts on predictive and prescriptive analytics in the next three to five years.
“We work with CFOs every day, tackling their business challenges such as solving for a lack of defined policies and standardized processes or limited use of process automation tools,” said Jeff Weiner, President, BPaaS Solutions at Conduent. “Successful outsourcing partnerships stem from due diligence, vetting capabilities and experience plus evaluating an outsourcing partner’s approach and alignment with the company’s objectives. When companies connect with the right outsourcing partner, FA&P teams quickly achieve the benefits of outsourcing.”
The ebook, titled “Optimizing finance operations through outsourcing: what works best?,” packages the research findings with Conduent’s expertise and insights in managing international Finance, Accounting and Procurement (FA&P) enterprise operations and provides CFOs a guide to successful outsourcing.
Source: Everest Group, a leading research firm, was supported by Conduent to conduct an online survey of 200 Chief Financial Officers across the U.S. for companies with more than $500 million in revenue.
About Conduent
Conduent delivers digital business solutions and services spanning the commercial, government and transportation spectrum – creating valuable outcomes for its clients and the millions of people who count on them. The Company leverages cloud computing, artificial intelligence, machine learning, automation and advanced analytics to deliver mission-critical solutions. Through a dedicated global team of approximately 55,000 associates, process expertise and advanced technologies, Conduent’s solutions and services digitally transform its clients’ operations to enhance customer experiences, improve performance, increase efficiencies and reduce costs. Conduent adds momentum to its clients’ missions in many ways including disbursing approximately $100 billion in government payments annually, enabling 2.3 billion customer service interactions annually, empowering millions of employees through HR services every year and processing nearly 13 million tolling transactions every day. Learn more at www.conduent.com.
Note: To receive RSS news feeds, visit www.news.conduent.com. For open commentary, industry perspectives and views, visit http://twitter.com/Conduent, http://www.linkedin.com/company/conduent or http://www.facebook.com/Conduent.
Trademarks
Conduent is a trademark of Conduent Incorporated in the United States and/or other countries. Other names may be trademarks of their respective owners.
View source version on businesswire.com: https://www.businesswire.com/news/home/20241029785858/en/