Finance and Accounting Business Process Outsourcing Reviews and Ratings

What is Finance and Accounting Business Process Outsourcing?

Gartner defines finance and accounting (F&A) business process outsourcing (BPO) as the use of digital F&A technology solutions and managed services supplied by a third-party service provider. F&A BPO services provide transformation expertise and technology solutions that meet finance departments’ requirement to move from labor-intensive service delivery models to automation-intensive models supporting the digital transformation of finance operations. F&A BPO providers offer processing services and technology solutions for purchase to pay (P2P), order to cash (O2C) and record to report (R2R). BPO providers meet finance buyers’ needs to address improving process maturity at a competitive price. Providers offer processing and technology services to improve P2P, O2C and R2R processes, which offer buyers the ability to purchase transformation expertise and technology solutions to help their finance operations mature. At minimum, an F&A BPO provider processes finance activities on behalf of its customers via a delivery center network, often in low-cost locations, passing on cost savings in the form of labor arbitrage. Mature BPO offerings move beyond labor arbitrage efforts and offer buyers end-to-end intelligent processing capabilities through either proprietary or partner technology ecosystems, which are often cloud-based and are focused on reducing human dependencies in process workflows. Buyers benefit from these types of agreements by maturing their processes and adopting technologies that require minimum human intervention.

Products In Finance and Accounting Business Process Outsourcing Market

"EXL is an innovated, collaborative, and outstanding company to work with!"

We have built an excellent relationship with EXL. The team is always readily available and willing to go the extra mile to support our business needs. In addition, EXL is consistently brainstorming ideas to accelerate quality of work, as well as technological advances that are available that could support us.

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"Strong Results as One-Team"

I consider my Genpact partners as true partners to my business and team. I appreciate the operational excellence as well as strategic planning for long-term optimization that we deliver together. As the process matures, it only gets better and better! I view my virtual team as a true, seamless part of my team.

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"Best in class advice I have seen in a long time"

The Cap Gemini project manager was not only excellent at project management skills, but had added value skills for example; adaptability, collaborative, clear communication, and a first class team-centric approach. These value added skills allowed a best in class process project by 1) going beyond to include leading and driving parts of the week client team to the end goal 2) providing ancillary information and general best practice to obsure processes, 3) and by no means least, a desire for more Cap Gemini service.

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"Wipro is a high-performing provider of outsourcing services and a valued partner"

Wipro has been a valued partner to our organisation for 9 years. During that time, Wipro has expanded beyond providing us with traditional accounts payable outsourcing services to bespoke financial administration offshoring and process optimisation. Wipro has always responded positively to feedback and worked collaboratively to determine new scope and deliver efficiencies. Wipro is quick to mobilise and generally delivers per timetable and scope.

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"A True technology and BPO experienced Partner"

Accenture has been able to deliver a broader scope of services embedding top edge technology to perform services delivered in a much more efficient way

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"Just do it"

Very motivated people. Strong collaboration skills. Operational management in transition phase could be more proactive in terms of tracking / KPIs

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"WNS is providing an excellent service with continuous process improvement and innovation."

WNS's ability to exceed our expectation and continuous process improvement over the past 12 years of our engagement is second to none. Identifying time and money saving ideas both reduced redundant activities with increased value to our business over the past years. Implementing Centre of Excellence across territories helped increase the efficiency and significantly reduce the overhead. WNS always brought innovative ideas along with digital transformation. We have done POC on RPA last year and marching forward to massive automation across all major territories. Very quickly we have realized the following: 1. Automate manual & tedious tasks that consume lot of time and resources 2. Improved accuracy tremendously 3. Enhance customer experience by speeding up service delivery and reducing response time 4. Freeing-up employees from mundane tasks and focus on more value added and creative activities 5. Reducing costs and risks by optimizing resource utilization along with minimizing operational expenses Currently we are working on implementing Blackline. Also reviewing on implementing AI to our process. Given my industry we are carefully evaluating generative AI which shouldn't impact IP. WNS is assisting us in this area to pick the right AI processes. WNS continued to display the market leader in BPO with innovative ideas on digital transformation. This gives much confident to travel together as business partners in the ever changing business world.

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"TCS is a great strategic partner."

TCS anticipates our needs and does a great job delivering a high-quality product. Not afraid to outside of scope on the betterment of the relationship.

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"Datamatics Outstrips Expectations with Efficient Automated Solutions"

Our Partnership with Datamatics has been exceptional. They have consistently exceeded our expectations.

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"You need to help Deloitte to make possible that Deloitte supports you"

Deloitte is a well known company with recognized prestige in the accouting services area

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"Great teamwork between HCL and Vendor"

The teams are great to work with. They ensure that everyone is efficient and effective. They contribute and execute improvements to current day processes as we design and implement a new ERP system. There is clear and open communication with the teams there. Also there is continuity, many of the team members have been working with us for 3-5 years. And when there is a new team member, they do a great job in knowledge transfer so that there is no gap or issues.

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"Sutherland: Demonstrating Exceptional Flexibility and Response in Client Service"

Sutherland has been a great partner since the beginning of the relationship. They have been flexible with us and proactive in their communication. It has been a great experience partnering with them. They have been a massive help to our onshore team.

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"Expanding Accounting Team"

CES provides a means of expanding our accounting team and delegating entry level tasks to less costly staff outside the US. We struggled with the cost of hiring and maintaining people for entry level work in the US. We worked with other US based outsourcing firms and this is our first attempt with working with people outside the US. We reached out to our peers and gathered that as firms like us grew they looked to India to providing additional staffing for entry level work. Our primary contacts are easy to reach and understand our situation and adapted accordingly. They regularly visit and touch base on our experience with their staff.

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"Very responsive , Customer oriented and willingness to improve"

Very Supportive and Customer oriented

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"My real insight of IBM Finance and Accounting Business Process Outsourcing Services"

Ever sinve we implemented IBM Finance and Accounting Business Process Outsourcing Services, it has been easy as a, b, c, d to customize accounting. It is a bit cost-effective to obtain IBM Finance and Accounting Business Process Outsourcing Services.

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"Highly collaborative and responsive "

Overall we are very pleased with the service. Cognizant are very collaborative and have worked with us to determine best fit outcomes and meet our needs. From a transition perspective it is one of the most effective projects we have run, with a high degree of collaboration between the teams and Cognizant gave the confidence that they had done this before and understood the issues. The scores on some of the critical capabilities reflect the fact we are just up and running with the service and hence have not necessarily seen everything we expect to in this space. We fully expect this to come as the service is established and the innovation and transformation starts to come through. Relationships are strong and work effectively, we feel able to raise issues and they are responsive; we have a global relationship manager that I work with as Global Lead alongside the local in country relationships that exist. This provides a very effective mechanism for issue resolution and informal escalations. The contracting process by contrast was more painful and drawn out, requiring escalations on their side to reach agreement.

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"Don't Look any further!"

My overall experience as a user has been great. It has helped us improve our invoice processing time tremendously.

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