Sweden in front in terms of financial functions outsourcing - International report shows large differences between countries in northern Europe
December 08, 2014
Stockholm 8th of December 2014; More than 70 percent of Swedish companies have chosen to outsource all or parts of their accounting functions. That reveals a survey made by OpusCapita. Another eight percent of the responding Swedish companies, that are not already outsourcing accounting functions, plans to do so in the near future.
The report is based on telephone interviews with 100 companies in Germany, Finland, Norway and Sweden. The study clearly states that the majority of companies in Sweden outsource all or parts of their finance functions instead of investing in internal solutions. The main reason is the release of own resources that instead is put into the core business.
“There is an ongoing trend that Swedish companies choose to outsource all or part of their finance function”, says Ulla Hemmi, Managing Director OpusCapita Sweden. “They want to increase the safety and quality of reporting, an important step in order to make the right decisions. Since many companies lack internal expertise within this area, external competence is often required.”
The result puts Sweden at top in the survey, followed by Norway where 68 percent of the respondent companies outsources all or parts of the finance function. The survey shows that twelve percent of Norwegian companies plan to outsource all or parts of their accounting functions.
Among the companies asked, billing services were the most frequent outsourced functions. Firms are less willing to outsource financial functions such as payment processing, accounting, reporting and business controlling – elements that are often perceived as being closer to the core business.
The report also demonstrates cultural differences. Sweden and Norway are far ahead of the other countries with as much as 52 percent of companies outsourcing billing. The same proportion among the German companies is four percent! For accounts payable, it is again 52 percent of Swedish companies that have chosen to outsource. The proportion of German companies remains at four percent. When it comes to payroll administration, eight percent of German companies have chosen to outsource.
For more information, please contact:
Ulla Hemmi, VD, OpusCapita Sverige
Tel: 0729-24 70 00