Friday 27th September, 2013

With seven of the ten leaders in finance and accounting business process outsourcing (F&A BPO)* re-selling OB10, the global e-Invoicing network, to their customers, BPO providers have become an important channel into the global F&A market. Through these strategic partnerships, OB10 enables outsourcers to meet their targets by bringing greater efficiency and added value to the procure-to-pay (P2P) process.

According to Cathy Tornbohm, Research VP, Gartner, Inc, “Most F&A BPO providers have built a collection of best-in-breed or in-house tools, as well as relationships with specialist service providers, such as scanning, treasury software or electronic invoice companies. This approach allows the processes to be delivered remotely, and enables process efficiency and standardisation.”

Thirty per cent of the new buying organisations that have joined OB10 so far in 2013 – all large global enterprises – have come through a BPO provider.

“Shifting work from one location to another is a small part of our value proposition,” says Leo Curran, SVP and Head of UK/Europe, at EXL, a leading business process solutions company. “Rather, we work with our clients to help transform their business operations by deploying technologies like OB10 together with analytics and operational improvements. The plans for OB10 and Tungsten Corporation to join forces will enhance our relevancy to clients with increased ability to add value to cash management and spend analytics – areas of critical concern to them.”

“We are committed to our BPO partners,” says Paul Frederick, President at OB10, Inc. “With rising offshore-labour costs and aggressive outcomes-based targets, leading providers are turning to process-enhancing technologies, such as purchase-to-pay automation and spend analytics.” 

*Magic Quadrant for F&A BPO, Gartner, Inc, May 29, 2013