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CFOs to Expand Finance and Accounting Outsourcing Programs in 2010
Operational and Strategic Needs
NEW YORK, NY and LONDON and MUMBAI, INDIA, Jan 19, 2010 (MARKETWIRE via COMTEX) -- The demand for finance and accounting outsourcing (FAO) services is strong and will continue to grow in 2010, according to the findings of The WNS Annual CFO Survey 2010.
The study consisted of an online survey of 100 senior finance executives in organizations with revenues of over $3 billion. The survey was designed to identify and analyze key items on the CFO's agenda and assess how alternative service delivery models such as business process outsourcing are used to address these agendas.
Some of the key findings include:
- Over 75 percent of the finance executives plan to expand their outsourcing programs in 2010
- Driving corporate cost cutting efforts and improving internal controls are the two most crucial issues in 2010
- Forty-four percent of the finance executives believe growing the business will be an organizational imperative in 2010
- Over 85 percent of the finance executives are satisfied with the benefits from FAO
"The survey clearly suggests that FAO has become a mainstream tool as 85 percent of respondents say they are satisfied with the benefits. While FAO has been commonly used to reduce cost of operations, it is increasingly becoming more strategic, focusing on transforming F&A operations," said Sulakshana Patankar, Business Unit Leader, WNS Finance and Accounting Solutions. "It is extremely encouraging to note that respondents who outsource plan to increase the scale of their programs in 2010, expanding both processes in scope and adding business units and geographies."
According to Stan Lepeak, Managing Director, Global Research, Equaterra, "While most organizations are still dealing with the fallout from the global recession, this study suggests their 2010 priorities are shifting back towards growing the business in preparation for the economic upturn. For the CFO, this means focusing on managing costs and improving internal controls but also preparing for the upturn by driving the transformation of F&A operations."
The survey was commissioned by WNS (Holdings) Limited (NYSE: WNS) and conducted by EquaSiis, an EquaTerra company.
For the findings and additional details about The WNS Annual CFO Survey 2010, please visit www.wns.com/financeandaccounting.
WNS is a leading global business process outsourcing company. Deep industry and business process knowledge, a partnership approach, comprehensive service offering and a proven track record enable WNS to deliver business value to some of the leading companies in the world. WNS is passionate about building a market-leading company valued by our clients, employees, business partners, investors and communities. For more information, visit www.wns.com
EquaSiis, an EquaTerra company, provides software and services that improve the business support services lifestyle for shared services, outsourcing practitioners and service providers. The software, EquaSiis Workbench and EquaSiis Enterprise, is a framework for collaboration used during the service delivery assessment and sourcing process to assist in analysis and decision making for shared services or outsourcing. EquaSiis provides intelligence and optimization for the delivery of business support services across the entire organization. The company also offers service providers market intelligence, research, customer satisfaction and trending data through its Insights group. For more details about EquaSiis' research offerings, please visit www.equasiis.com.
Safe Harbor Statement under the provisions of the United States Private Securities Litigation Reform Act of 1995
This news release contains forward-looking statements, as defined in the safe harbor provisions of the US Private Securities Litigation Reform Act of 1995. These forward-looking statements include statements regarding our pending prepayment and scheduled payment on our loan facility as well as potential prepayment on the loan facility in the future. These statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those that may be projected by these forward looking statements. These risks and uncertainties include but are not limited to technological innovation; telecommunications or technology disruptions; future regulatory actions and conditions in our operating areas; our dependence on a limited number of clients in a limited number of industries; our ability to attract and retain clients; our ability to expand our business or effectively manage growth; our ability to hire and retain enough sufficiently trained employees to support our operations; negative public reaction in the US or the UK to offshore outsourcing; regulatory, legislative and judicial developments; increasing competition in the business process outsourcing industry; political or economic instability in India, Sri Lanka and Jersey; worldwide economic and business conditions, including a slowdown in the US and Indian economies and in the sectors in which our clients are based and a slowdown in the BPO and IT sectors world-wide; our ability to successfully grow our revenues, expand our service offerings and market share and achieve accretive benefits from our acquisition of Aviva Global Services Singapore Pte Ltd and our master services agreement with Aviva Global Services (Management Services) Private Limited; our ability to successfully consummate strategic acquisitions, as well as other risks detailed in our reports filed with the US Securities and Exchange Commission. These filings are available at www.sec.gov. We may, from time to time, make additional written and oral forward-looking statements, including statements contained in our filings with the Securities and Exchange Commission and our reports to shareholders. You are cautioned not to place undue reliance on these forward-looking statements, which reflect management's current analysis of future events. We undertake no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE: WNS (Holdings) Limited