Joe Vales and Rich Tinervin issue global forecast for consortia buying in Finance and Accounting outsourcing
According to research conducted by Vales Consulting and Tinervin Advisors, 25 percent of Finance and Accounting (F&A) outsourcing will be consortia driven by 2010. Multinationals will partner with each other to form buying consortia which will produce cost savings of between 30% and 40%
Joseph Vales, Senior Partner of the Vales Consulting Group, said, "Our global forecast was based on our original research on global outsourcing trends over the past two years. Over this period, we have published three white papers tracking the coming wave of consortia buying in Business Process Outsourcing, asset management, and Finance and Accounting. We see Global 2000 companies coming together to form buying consortia with the combined purchasing power to negotiate cost savings of much as 30% to 40% annually for Finance and Accounting services."
Richard Tinervin, Founder and Managing Director of Tinervin Advisors, added, "The market movement to consortia buying has been driven by the long term convergence of eight key transformational forces impacting the outsourcing marketplace: the impact of globalization, the growing focus of CFOs on strategy, the movement to vertical industry solutions, the power of standardization, the consolidation of suppliers, the acceptance of the business process utility, and the rise of co-opetition!"
In addition, Vales and Tinervanthe authors also made the predictions about risk management, financial services and offshoring opportunities in their December report.
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