Increasing use of technology, such as managed IT services and managed data centres, will help chief financial officers increase their business growth, analysts have suggested.
A study from research firm Gartner claims managed IT services such as outsourced finance and accounting services are becoming commonplace, although effective organisation is necessary if this is to succeed.
Cathy Tornbohm, research vice president at Gartner, commented: "What is often overlooked is the vast amount of work that needs to take place in advance of outsourcing in order for the outsourcer to support these finance processes effectively."
Ms Tornbohm warned a lack of preparation can cause time to be wasted at the start of an outsourcing venture and highlighted a lack of funding and not including the firm's IT team in the planning as particular concerns.
Earlier this month, Barclays announced it was entering into an overseas managed outsourcing contract, following on from its adoption of a managed
IT outsourcing cheque handling process last year.
