The Hackett Group’s Market Intelligence Service Launches Research Project Analyzing the Value Realized From Finance and Accounting Outsourcing Solutions Providers

The Hackett Group, announced that its Market Intelligence Service has launched a new research project that will evaluate and rank finance and accounting outsourcing solutions providers.

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“Companies need to understand this new landscape so that they can enter into outsourcing contracts, or renegotiate existing ones, to generate greater business value. Our research will provide them with the guidance they need to do precisely this”

The Finance and Accounting Outsourcing research report, which The Hackett Group expects to issue in Q3 2023, will detail and quantify the broad range of benefits that companies can accrue by working with individual outsourcing solutions providers. The scope of the research will cover finance operations and analysis, including purchase-to-pay, customer-to-cash, general accounting, consolidation and regulatory reporting, control & risk management and financial planning & analysis capabilities.

For the report, The Hackett Group will interview solutions providers and their customers and compare their actual results comparing expected value with realized value across a range of performance measures and using data from The Hackett Group’s industry-leading benchmarks. The analysis will study differentiated capabilities and the value realized from each solutions provider and their customers, as well as provide an assessment of their investment roadmap. It will also recognize the solutions providers that offer the greatest value realization and the greatest breadth of capability. Finally, it will rank all solutions providers covered in the report as Digital World Class, Innovators, Incumbents, Challengers, or Emerging.

According to Ted A. Fernandez, Chairman & CEO of The Hackett Group, “Our new Market Intelligence Service was developed specifically in response to requests from our global clients, which includes 93% of the Fortune 100. They have consistently cited a gap in provider insight around the realization of value from specific software and service investments. The Hackett Group is uniquely qualified to address this fundamental requirement in market intelligence due to our vast benchmarking database and implementation knowledge.”

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The Hackett Group Chief Market Intelligence Officer Michel Janssen added, “The Hackett Group has been working with companies to optimize their outsourcing relationships for nearly two decades. But until recently, the focus of finance and accounting outsourcing has been almost exclusively on labor arbitrage – hiring low-cost professionals in India, Eastern Europe, and elsewhere to handle finance and accounting outsourcing activities.

“Over the last few years, the landscape has changed,” said Janssen. “As outsourcers have matured, they’ve learned how to provide more strategic capabilities. And more recently, digital transformation has shifted the discussion again to focus on helping companies take advantage of the latest advances in automation, advanced analytics, artificial intelligence and other cutting-edge technologies. Today, outsourcers can provide thought leadership and offer a much wider range of benefits to companies, from reduced cost to improved efficiency, effectiveness, broader digital capabilities and enhancements to the customer experience.

“Companies need to understand this new landscape so that they can enter into outsourcing contracts, or renegotiate existing ones, to generate greater business value. Our research will provide them with the guidance they need to do precisely this,” said Janssen.

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