FAO Holds Positive Promise for the Financial Services Industry - Why FAO Will Continue to Thrive Amidst Economic Uncertainty

Summary

September and October of 2008 have seen global financial markets decline in the wake of an unprecedented economic crisis directly affecting the financial sector and indirectly affecting organizations across industries. The crisis is a concern for everyone and has led to mergers & acquisitions (M&As), takeovers and even well-publicized bankruptcies. Most industries have increased the sense of urgency to reduce cost and add value while governments, regulatory bodies, and industries are looking at ways to stem the decline. 

As we reflect on this market situation, we are reminded of a similar crisis in 2001 (particularly affecting the IT sector), which powered the first wave of adoption in Finance & Accounting Outsourcing (FAO) starting in 2002. There are mixed forecasts on the impact of the current crisis on outsourcing and specifically for FAO. Everest Research Institute believes that the FAO market will continue to thrive despite the market environment.

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