Outsourcing makes a comeback
Outsourcing much of the finance function appears to be enjoying a renaissance.
Sainsbury’s is the latest in a string of big names including ICI and BP Amoco to push in that direction.
Outsourcing could change the lives of finance staff radically. Will the business accountant of the future be running some kind of finance call centre?
But there is also an issue here for accountancy firms. Sainsbury’s IT and finance outsourcing contract was won by Accenture, and IT consulting operation EDS has also won similar contracts. The large firms are facing competition in what is likely to be a fast-growing area.
And if outsourcing does enjoy a resurgence, it is these businesses that will become the best-known accountancy names of the future.
The big firms should watch out or they could find their brand names being overshadowed.