Accounting, Business Systems Lead Priority Projects for Outsourcing over Next Year
A recent survey developed by Robert Half Management Resources, a provider of senior-level finance, accounting and business systems professionals, reveals that Accounting and Business Systems top the list of projects companies plan to outsource to financial consultants in the next 12 months.
General accounting and finance projects, which include areas such as forecasts and budgets, financial reporting, and mergers and acquisitions, were cited as the most popular projects likely to be outsourced to financial consultants and interim managers in the next 12 months, the survey said. Other key projects that were likely to outsource include business systems and performance upgrades.
Fifty-seven percent of CFOs who said they plan to bring in consultants expect them to be for finance and accounting projects. Forty-eight percent of CFOs plan to use project professionals for business systems and performance improvement.
Other priority projects include taxation, risk, governance and compliance as well as finance optimization. Taxation is the priority for 42 percent while risk, governance and compliance were opted by 40 percent of the respondents. Finance optimization accounts for 36 percent of the responses.
The survey was based on the interviews conducted on 900 CFOs from a random sample of companies that work with financial consultants.
"CFOs are tapping consultants for projects such as finance optimization and process improvements, among others," said Paul McDonald, senior executive director with Robert Half, in a statement. "Interim managers are also being brought in for business systems and compliance initiatives as financial executives look to leverage data stored in their enterprise applications and keep pace with evolving regulations."
McDonald added, "Whether a company is looking to merge operations from a business acquisition or implement an enterprise resource planning system, financial consultants can fill the gap by managing a project from start to finish or serving in an interim capacity."
Robert Half Management Resources supplies professionals to supplement companies' project and interim staffing needs. The company has more than 150 locations worldwide and offers assistance to hiring managers and consultants.
Edited by Cassandra Tucker