ISG to Publish Report on Finance and Accounting Services

Rhea-AI Summary

ISG, a global technology research firm, is set to release a report on Finance and Accounting Outsourcing Services (FAO) in October. The report will evaluate providers offering services related to procurement, reporting, budgeting, and financial planning. Enterprises are seeking consultative and partner-oriented providers who leverage advanced technologies to streamline processes and enhance decision-making capabilities. The study aims to help enterprise buyers assess vendor relationships and available offerings.

Positive

• The report will provide valuable insights for enterprise buyers to evaluate their current vendor relationships and potential engagements in the finance and accounting outsourcing services market.

• The study focuses on the use of advanced technologies such as AI, machine learning, and automation to improve process efficiency and enable predictive analysis, essential for strategic planning.

• ISG's research aims to help clients find FAO providers that not only execute services but also act as advisors and collaborators in aligning with long-term business objectives.

Negative

• As the FAO sector has matured, enterprises are expecting providers to be more consultative and partner-oriented, which may increase the pressure on providers to deliver more impactful outcomes.

• With the increasing demand for consultative FAO services, providers may face challenges in meeting client expectations and aligning with long-term business objectives.

Upcoming ISG Provider Lens™ report will evaluate providers offering a range of capabilities to improve the efficiency and agility of customers’ financial processes

STAMFORD, Conn.--(BUSINESS WIRE)-- Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm, has launched a research study examining outsourcing services that help enterprises improve their finance and accounting operations and business decision-making.

The study results will be published in a comprehensive ISG Provider Lens™ report, called Finance and Accounting Outsourcing Services (FAO), scheduled to be released in October. The report will cover the global market for services related to procurement, reporting, budgeting, financial planning and other functions.

Enterprise buyers will be able to use information from the report to evaluate their current vendor relationships, potential new engagements and available offerings, while ISG advisors use the information to recommend providers to the firm’s buy-side clients.

Cost reduction, enhanced speed and higher levels of accuracy continue to be the primary drivers of FAO. But as the sector has matured over the last decade, enterprises are expecting their providers to be more consultative and partner-oriented, while leveraging advanced technologies such as AI, machine learning, automation and, most recently, GenAI to deliver more impactful outcomes. Such technologies streamline processes and enable predictive analysis and sophisticated decision-making capabilities essential for strategic planning and competitive advantage.

“Enterprises are looking for FAO providers that act not just as service executors but as advisors and collaborators able to navigate and leverage the broader ecosystem of partners and industry experts,” said Namratha Dharshan, chief business leader, ISG Research. “Providers are expected to understand and align themselves with their customers’ long-term business objectives.”

ISG has distributed surveys to more than 40 finance and accounting outsourcing providers. Working in collaboration with ISG’s global advisors, the research team will produce four quadrants representing the finance and accounting outsourcing services the typical enterprise is buying, based on ISG’s experience working with its clients. The four quadrants are:

• Procure to Pay (P2P), evaluating providers of services across the accounts payable process, including paying suppliers, reconciling accounts, tracking expenses and spending patterns and negotiating contracts. P2P providers use new technologies including AI and machine learning to automate processes and increase efficiency.

• Order to Cash (O2C), assessing providers of end-to-end O2C operations, including processing customer orders, ensuring payments are received promptly, managing credit risk and providing customer support. Clients look to these partners to streamline operations, often through automation to reduce manual processes.

• Record to Report (R2R), covering providers that manage clients’ financial record-keeping and reporting, including complex processes such as managing the end-of-period close process, preparing financial statements and assessing clients’ internal control systems.

• Financial Planning and Analysis (FP&A), evaluating providers of high-end financial functions including budgeting, forecasting, financial planning and M&A. These providers act as partners to clients, delivering comprehensive and meaningful data and insights.

The report resulting from this study will cover the global finance and accounting outsourcing market. ISG analysts Gaurang Pagdi and Sneha Jayanth will serve as authors of the report.

A list of identified providers and vendors and further details on the study are available in this digital brochure. Companies not listed as finance and accounting outsourcing providers can contact ISG and ask to be included in the study.

All 2024 ISG Provider Lens™ evaluations feature expanded customer experience (CX) data that measures actual enterprise experience with specific provider services and solutions, based on ISG’s continuous CX research. Enterprise customers wishing to share their experience about a specific provider or vendor are encouraged to register here to receive a personalized survey URL. Participants will receive a copy of this report in return for their feedback.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 800 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including AI and automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,300 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240513378913/en/

Press Contacts:



Will Thoretz, ISG

+1 203 517 3119

will.thoretz@isg-one.com



Julianna Sheridan, Matter Communications for ISG

+1 978-518-4520

isg@matternow.com

Source: Information Services Group, Inc.

FAQ

What is the focus of the upcoming ISG Provider Lens™ report?

ISG's report will evaluate finance and accounting outsourcing services providers offering capabilities related to procurement, reporting, budgeting, and financial planning.

When is the Finance and Accounting Outsourcing Services (FAO) report scheduled to be released?

The FAO report is expected to be published in October.

What technologies are FAO providers leveraging to deliver impactful outcomes?

Providers are utilizing advanced technologies like AI, machine learning, automation, and GenAI to streamline processes and enable predictive analysis.

What are the primary drivers of FAO services?

Cost reduction, enhanced speed, and higher levels of accuracy are the main drivers of FAO services.

How can enterprise buyers benefit from the ISG report?

Enterprise buyers can use the report to assess their current vendor relationships, explore new engagements, and evaluate available offerings in the FAO market.