The trend to outsource to an internal SSC or to an external service provider is growing, however most companies do not take advantage of these solutions, finds a new research by ACCA (the Association of Chartered Certified Accountants).
The survey provides insight into the expectations of 1,635 CFOs and international finance experts in transforming the finance function through shared services and outsourcing.
Among its key findings the report suggests that:
- Globally there are more opportunities for the adoption of shared services and outsourcing
- Requirements regarding the quality of services will be more important compared with costs
- There is an ascending interest to adopt transactional finance processes
- The most important challenge is to increase the effectiveness of the SSCs
- Valuable financial activities remain unexploited
- There is a strong need to develop measurement tools and methods
- Over time broader business goals will increase in importance
- CFOs who have adopted the SSC and outsourcing are more likely to keep investing
- There is a decrease in the concerns linked to implementation challenges
You can read the entire research here.