Businesses would still rather keep their finance and accounting processes
in-house rather than rely on outsourcing, according to new research.
Sending business offshore has proven to be cheaper and more efficient for many
Chief Financial Officers (CFOs), but new findings from
Ovum reveal that most CFOs at larger companies (turnover of £302 million or higher) are resistant to this change, preferring instead to keep business in-house.
This was accredited to 44% of companies wanting to remain loyal to their in-house employees, and a further 31% having concerns over a loss of business control and savings. Many companies said that even cost reductions of 20% wouldn’t entice them to send their business to low-cost locations.
The data was measured against cloud computing strategies – which most CFOs are also reluctant to embrace – and offshoring was found to be a “riskier strategy”.
Business process outsourcing (BPO) has experienced strong growth recently, with BPO sales 65% higher in the first three months of 2011 than they were in 2010.
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