Codestone

Category: Support & Managed Services

Firms are increasingly turning to outsourced IT as a means of facilitating their finance and accounting management in 2011, according to a new report.

Sourcing industry research network Horses for Sources (HfS) has published analysis suggesting that more than half of buyers are now looking to improve or replace their existing finance IT systems with some form of business process outsourcing (BPO).

According to the analysis, this trend is coinciding with the end of the recession, which is seeing many companies resuming their pursuit of growth and efficiency improvements.

HfS said thus far, the market for finance and accounting outsourcing is relatively untapped, but suggested that companies will embrace this model to reduce their operating costs and support their globalisation efforts.

It added: "Getting this right is going to have a major impact on [a business's] culture and operational performance over the long haul".

Earlier this month, Hugh Bradlow of telecommunications firm Telstra stated at an industry event that the outsourced IT model is set to become more and more relevant in the modern business world.

Posted by Shannon Wells