Codestone

Category: Support & Managed Services

Despite trends in outsourced IT, companies would rather keep their finance and accounting operations in-house, a recent report revealed.

Many chief financial officers (CFOs) feel there is no need to outsource their finance and accounting, even though those who choose to do so report being more efficient, the report by Ovum showed.

UK and US companies with a turnover of more than $500 million (£305 million) were surveyed for the report, which found CFOs believe outsourcing is a "high-risk strategy".

Ovum's lead analyst Peter Ryan, commenting on the firm's findings, said: "Offshoring to low-cost locations was deemed to be very high risk, and the companies we spoke to expressed a strong desire to keep these functions with their current employees."

This latest report contrasts with the findings of a recent study by sourcing industry research network Horses for Sources, which revealed that firms will be turning their attentions to outsourced IT as a way of facilitating their finance and accounting management this year.

Posted by Jamie Rees