FAO Research Inc., a research firm focused on the finance and accounting outsourcing market, announced that its latest research shows a 40 percent, one-year increase in outsourcing contract signings in 2005. Accenture and Capgemini won the lion's share of business.
FAO also predicted that by the close of 2006, there will be an additional 60 percent growth in the number of outsourcing contracts closed, compared to 2005.
The report, "The World's Biggest F&A Outsourcing Contracts, 2004-2005: An Overview and Global Market Analysis," indicates that a total of 67 long-term, multi-process, often global outsourcing arrangements with companies spanning a number of industries were signed in the past two years -- 39 in 2005 and 28 in 2004.
"Growth in the FAO market is accelerating at an incredible pace that will continue through this calendar year," said FAO chief executive Lisa Ross, in a statement. "Our analysis shows that achieving greater cost savings, accessing better technology to facilitate global expansion and gaining industry best practices are the key motivators of companies ranging from financial services, to chemical production, to government and manufacturing."
The report includes a comprehensive listing of all 67 FAO contracts signed over the past two years, with detailed information about the size, scope and customer profile. In addition, FAO Research analyzes the key industries where FAO is most notable, the geographic range of outsourcing engagements and the specific services being outsourced.Additional information and a listing of the report's contents are available at www.faoresearch.com. The report can be purchased for $2,500, or as part of an annual subscription package.
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