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Top FAO Outsourcing Vendors, Black Book Survey 2008 Results
Orbys Black Book, July 2008, Pages: 37
The average length of an FAO engagement spans 3 to 5 years and contract values have typically run less than USD$25 million, in general, for enterprise-wide or end-to-end FAO initiatives.
FAO is driven by factors like vertical expertise (healthcare corporations expect healthcare experienced FAO vendors; banking and capital market clients demand their suppliers to have dedicated industry divisions and leaders, etc) risk management capabilities evidenced, breadth and depth of coverage beyond AP & AR, location advantages in the US and UK/EU respective to the client
With FAO service levels and SLAs maintaining fairly standard metrics, based on achievement of targets for processing volumes, accuracy, timeliness and the like, similar to those for high-volume IT transactions, the FAO prospective and current user communities seek more qualitative comparisons. Black Book results serve that primary purpose.
Enterprise-wide FAO vendors compete in all of six major functionalities to be ranked in the Black Book Top FAO results, 2008.
-Order-to-Cash
-Compliance, Treasury & Control
-Financial Reporting & General Accounting
-Expense Administration
-Fixed Asset Management
-Purchase-to-Payment
Clearly, the leaders in the Black Book FAO survey of 2008 have demonstrated the expertise of market focus, vertical expertise and customer centricity, all of which presently influence and direct client renewals, service add-ons, and particularly, prospective client FAO interest.
The marketplace results of this comprehensive research study, are used by
- Current outsourcing clients to compare other users’ experiences with similar and competitive FAO vendors;
- Prospective outsourcing clients to long list vendors in the RFI stages, or contrast final cut vendors in selection stages;
- Investors, venture capital firm, analysts, advisors and bankers in making financing decisions;
- Media and press to recognize industry outsourcing trends as collected from client ballots; and
-Most Service Providers to inform their go-to-market strategies, assess their perceived strengths and weaknesses, educate their staffs, communicate to a wider market, and fine-tune their improvement and marketing position programs.
The end-user groups that participate, use the data as a tool to benchmark their own satisfaction compared to that of other FAO service providers. It also provides them with the opportunity to understand the perceived strengths and weaknesses of their service providers compared to the market at large.
Who Participates in the Black Book Ranking Process
Over 400,000 individuals are invited to participate annually (including C officers of the Fortune 2000, Inc 500, institutional members and officers of various professional organizations, subscribers of our media partners and previously validated survey participants). Non-invitation receiving participants must complete a verifiable profile, utilize valid corporate email address and are then included as well. Over 24,000 users were validated in the 2008 ranking process.
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