Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Nigerian fintech Lemfi expands its operations in Egypt

July 11, 2025

Long-term partnership between Omilia and Connex drives innovation in conversational AI for financial institutions.

July 11, 2025

A Perspective on the AI Roadmap for Financial Services

July 11, 2025

Ant International refutes partnership with Circle in the Stablecoin market competition.

July 11, 2025
Facebook X (Twitter) Instagram
Trending
  • Nigerian fintech Lemfi expands its operations in Egypt
  • Long-term partnership between Omilia and Connex drives innovation in conversational AI for financial institutions.
  • A Perspective on the AI Roadmap for Financial Services
  • Ant International refutes partnership with Circle in the Stablecoin market competition.
  • Fintech startup catering to NRIs secures $5 million seed funding led by Elevation Capital.
  • SAP Fioneer Introduces AI Agent for Financial Services
  • New Trade Exchange Regulations in Fintech Enhance Water Issues Management
  • STC Group invests in the Islamic financial technology startup Tarmez
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    Unicorn Bank Zero represents the final achievement of his fintech journey.

    July 9, 2025

    Fintech Company Pine Labs Submits Documents to SEBI for IPO Fundraising

    July 4, 2025

    British Fintech Zilch Seeking International Tender Opportunities

    July 4, 2025

    Fintech Company Pine Labs Submits IPO Documents to SEBI for Fundraising, According to Reports

    June 26, 2025

    Breaking News: Initial lineup of demonstrations revealed for FinovateFall 2025

    June 12, 2025
  • AI

    Long-term partnership between Omilia and Connex drives innovation in conversational AI for financial institutions.

    July 11, 2025

    A Perspective on the AI Roadmap for Financial Services

    July 11, 2025

    SAP Fioneer Introduces AI Agent for Financial Services

    July 11, 2025

    The impact of AI on job roles in the finance sector

    July 10, 2025

    Highlighting AI in the Financial Sector at Boston Fintech Week 2025

    July 10, 2025
  • Acquisitions

    African fintech leaders are shaping the industry through worldwide acquisitions.

    June 30, 2025

    Acrisure obtains significant funding to enhance its fintech strategy.

    June 14, 2025

    $200 million IPO SPAC aims for acquisitions in fintech and AI sectors.

    June 1, 2025

    Wealthsimple hires multiple teams to enhance family financial management.

    May 31, 2025

    The HPS of Morocco plans to acquire a Fintech company by 2027, referred to as CEO – TradingView News.

    May 3, 2025
  • Trends

    Market size, share, trends, and business profiles in the Fintech industry

    July 10, 2025

    Overview of the FINCH 2025 Market and Participant Profiles

    July 5, 2025

    Key Trends and Focus Areas in Fintech Payments for 2025

    June 22, 2025

    Overview of the Singapore Fintech Market: Market Size, Trends, and Growth Potential

    June 18, 2025

    Southeast Asia’s Fintech Market: Size, Trends, and Growth Potential

    June 13, 2025
  • Insights

    ICAPITAL Fintech Achieves a Valuation Exceeding $7.5 Billion in Recent Fundraising Amid Surge in Private Markets

    July 10, 2025

    Alphalésaka Technologies: The Potential Transformative Impact of Recent Fintech Acquisition

    July 9, 2025

    Surge Continuation Funds in Europe Prepared for the 2025 Records – Fintech Schweiz Digital Finance News

    July 7, 2025

    Schaeffer Investment Research Scholarships Break Through Significant Resistance Levels

    June 27, 2025

    Finance Magnates Reports: XBO Designated as Top Cryptocurrency Payment Gateway. XBO’s core principles of trust and simplicity align with cutting-edge solutions, providing customers access to an award-winning crypto payment option. 16 hours ago

    June 26, 2025
  • Rumors

    Ant International refutes partnership with Circle in the Stablecoin market competition.

    July 11, 2025

    Meta Eyes 14b AI Investment, Bulsh Seeks IPO and Additional Speculation

    July 10, 2025

    Blackrock XRP ETF Speculation Ignites Interest in the Crypto Market

    July 9, 2025

    PayTM’s Share Price Drops by 10%: Understanding MDR and the Call from FinTech Companies for Government Action.

    July 5, 2025

    PayTM restricts 10% amid rumors of government cancellation of MDR – Is the expansion of UPI in India becoming a challenge for fintech companies? More details here.

    July 2, 2025
  • Startups

    Nigerian fintech Lemfi expands its operations in Egypt

    July 11, 2025

    Fintech startup catering to NRIs secures $5 million seed funding led by Elevation Capital.

    July 11, 2025

    STC Group invests in the Islamic financial technology startup Tarmez

    July 10, 2025

    Icapital fintech raises over $7.5 billion in recent funding round.

    July 10, 2025

    Today’s Crypto Update: Bitcoin, Cardano, XRP, Pi Network, and More Prices

    July 10, 2025
  • finjobsly
fintechbits
Home » AI and industry are driving finance outsourcing
AI in Finance

AI and industry are driving finance outsourcing

5 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
C326c7613723c368eb2528b3228a0061.jpeg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link

Businesses are outsourcing more finance and accounting functions to service providers, seeking tailored solutions with modern technology, according to the ISG Provider Lens™ report.

STAMFORD, Conn., September 25, 2024–(BUSINESS FEED)–Companies have expanded their outsourcing of financial and accounting operations while demanding more specialized capabilities from vendors, according to a new research report released today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and consulting company.

The 2024 ISG Provider Lens™ Global Financial and Accounting Outsourcing (FAO) Services Report reveals that a growing number of companies are interested in comprehensive service packages that go beyond traditional outsourcing. They want providers to integrate advanced analytics, strategic advice and industry-specific expertise into solutions that streamline financial processes and are tailored to customer needs.

“Finance and accounting require complete digital transformation to optimize processes and improve data accuracy,” said Robert Stapleton, ISG Partner, Business Outsourcing Services. “Service providers are adding advanced tools and industry-specific expertise to help their customers grow and achieve operational excellence.”

Enterprises are turning to vendors for holistic orchestration capabilities that support unified user experiences, real-time insights and data-driven strategies for greater efficiency and better decision-making, says ISG. Businesses also want vendors to provide insight into best practices, compliance issues and market trends in their industry, as well as solutions that meet industry requirements.

AI, machine learning, robotic process automation (RPA) and cloud computing are significantly changing finance and accounting processes, making them more efficient and accurate through real-time data analysis, says the report. Generative AI (GenAI) has strong potential to improve data analysis and planning, although most GenAI applications in this area are still at the proof-of-concept stage. If FAO services, SaaS and financial platform providers collaborate more closely, the GenAI trend could accelerate.

The most commonly outsourced financial process remains procure-to-pay (P2P), but many companies outsource more advanced functions, such as record-to-report (R2R) and financial planning and analysis (FP&A), explains ‘ISG. AI and advanced analytics are revolutionizing these functions, changing the way businesses create budgets, forecasts and financial statements.

“Companies are automating R2R with the help of service providers and significantly reducing manual efforts,” said Jan Erik Aase, partner and global leader of ISG Provider Lens Research. “This shortens their close cycles and reduces errors.”

Advisory and consulting services are becoming central to FAO’s engagements, as more clients adopt complex technologies such as ERP and cloud solutions, says ISG. Vendors are also building their services around environmental, social and governance (ESG) practices and sustainability reporting, although companies have adopted them more slowly, mainly due to regulatory requirements.

The report also explores other trends in FAO services, including the increasing use of results-based models in FAO contracts and co-innovation between providers and clients.

For more information on the financial and accounting challenges businesses face, including shortages of skilled resources, as well as ISG’s advice on how to address these issues, see the ISG Provider Lens™ Focal Points Briefing . here.

The 2024 ISG Provider Lens™ Global Financial and Accounting Outsourcing (FAO) Services Report assesses the capabilities of 31 providers across four quadrants: Procure to Pay (P2P), Order to Cash (O2C), Record to Report (R2R) and Financial Planning and Analysis (FP&A).

The report names Accenture, Capgemini, Cognizant, Deloitte, EXL, Genpact, HCLTech, IBM, Infosys, TCS, Wipro and WNS as leaders in all four quadrants. It names Sutherland as leader in two quadrants and Tech Mahindra as leader in one quadrant.

Additionally, Datamatics, Tech Mahindra and Teleperformance are designated as Rising Stars – companies with a “promising portfolio” and “strong future potential” as defined by ISG – in one quadrant each.

In the area of ​​customer experience, Accenture is named a 2024 Global ISG CX Star Performer among FAO Service Providers. Accenture achieved the highest customer satisfaction scores in ISG’s Voice of the Customer survey, part of ISG Star of Excellence™ Programthe first quality recognition for the technology and business services sector.

Customized versions of the report are available from Auxiliary, Capgemini, Aware, HCLTech, Infosys, Wipro And SMB.

The 2024 ISG Provider Lens™ Global Financial and Accounting Outsourcing (FAO) Services Report is available for subscribers or one-time purchase on this site. Web page.

About ISG Provider Lens™ Search

The ISG Provider Lens™ Quadrant research series is the only service provider assessment of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of the advisory team world of ISG. Businesses will find a wealth of detailed data and market analysis to help them select appropriate sourcing partners, while ISG advisors will use the reports to validate their own market knowledge and make recommendations to business clients of ISG. The study currently covers providers offering their services globally, across Europe, as well as in the United States, Canada, Mexico, Brazil, United Kingdom, France, Benelux, in Germany, Switzerland, Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information on ISG Provider Lens research, please visit this Web page.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory company. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping businesses, public sector organizations and service and technology providers achieve operational excellence and faster growth. The company specializes in digital transformation services, including AI and automation, cloud and data analytics; procurement consultancy; managed governance and risk services; network operator services; design of strategies and operations; change management; market intelligence and technology research and analysis. Founded in 2006 and headquartered in Stamford, Connecticut, ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries. A global team known for its innovative thinking, market influence, deep industry and technology expertise and world-class leadership. research and analysis capabilities based on the most comprehensive market data in the industry. For more information, visit www.isg-one.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240925212627/en/

Contacts

Press contacts:

Will Thoretz, ISG
+1 203 517 3119
will.thoretz@isg-one.com

Julianna Sheridan, Matter Communications for ISG
+1 978-518-4520
isg@matternow.com

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Long-term partnership between Omilia and Connex drives innovation in conversational AI for financial institutions.

July 11, 2025

A Perspective on the AI Roadmap for Financial Services

July 11, 2025

SAP Fioneer Introduces AI Agent for Financial Services

July 11, 2025
Leave A Reply Cancel Reply

Latest news

Nigerian fintech Lemfi expands its operations in Egypt

July 11, 2025

Long-term partnership between Omilia and Connex drives innovation in conversational AI for financial institutions.

July 11, 2025

A Perspective on the AI Roadmap for Financial Services

July 11, 2025
News
  • AI in Finance (1,346)
  • Breaking News (155)
  • Corporate Acquisitions (65)
  • Industry Trends (178)
  • Jobs Market News (290)
  • Market Insights (191)
  • Market Rumors (244)
  • Regulatory Updates (150)
  • Startup News (907)
  • Technology Innovations (154)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,346)
  • Breaking News (155)
  • Corporate Acquisitions (65)
  • Industry Trends (178)
  • Jobs Market News (290)
  • Market Insights (191)
  • Market Rumors (244)
  • Regulatory Updates (150)
  • Startup News (907)
  • Technology Innovations (154)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.