Friday, December 17, 2004

Cos. Outsourcing Finance Functions Experience More Control over Governance, Security than Expected

Concerns that the outsourcing of finance and accounting functions impedes the ability to control key processes related to compliance and governance appear to have abated, according to a survey commissioned by Accenture.

Among 203 executives surveyed by the Economist Intelligence Unit, nearly 60 percent now believe that the outsourcing of finance functions enhances the ability to adhere with compliance regulations such as Sarbanes-Oxley. And more than half believe that outsourcing alleviates the burden of staying on top of frequent changes to tax codes and accounting rules, while also providing an increased level of information transparency, visibility of controls and clarity of accountability.

Almost 60 percent of respondents agree that outsourcing increases the rigor of business processes, because they are better documented, according to Accenture.

"Executives increasingly believe that outsourcing can happily co-exist with today's greater emphasis on governance," said Stewart Clements, president of Accenture Finance Solutions. "We believe that this significant shift in attitude stems from results achieved by companies that have already outsourced their finance functions."

Cos. Outsourcing Finance Functions Experience More Control over Governance, Security than Expected

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