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October 28, 2004 8:55 AM PDT

PwC: Firms see mixed results in outsourcing

By Dinesh C. Sharma
Staff Writer, CNET News

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A survey of U.S. and European companies has found that less than half consider outsourcing financial functions to be cost-effective.

About 44 percent of companies that have outsourced financial functions say they have saved a moderate amount, according to a new study from PricewaterhouseCoopers. Another 3 percent say they have saved a great deal.

However, 31 percent of the companies see limited or very little financial benefit to outsourcing; 9 percent believe they are breaking even; and 4 percent say they are losing money.

About 77 percent of U.S. companies say they have outsourced financial functions in the past two years, the survey said, while 72 percent of their European counterparts have done so.

While companies are finding mixed financial benefits to the practice, they're still interested in outsourcing, the study found.

Nearly 75 percent of American and European corporations that use outsourcing to support their financial functions will continue to do so over the next two years, according to the survey. About 29 percent of these companies expect to increase their use of outsourcing of financial functions, with spending likely to be 16 percent higher than present levels, the survey found.

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