BFSI* organizations are reducing in-location operating models for FP&A
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According to a survey of over 150 financial services executives, many banking, financial services, and insurance companies are reducing in-location operating models for finance, planning, and analysis functions. The survey found that over half of respondents currently use in-location models for forecasting, planning and budgeting, performance management, and decision analysis packet creation. However, respondents indicated they are targeting more optimal models using global or regional shared services centers or outsourcing for these core finance processes.
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BFSI* organizations are reducing in-location operating models for FP&A
- 1. PROCESS • ANALYTICS • TECHNOLOGY 1© 2014 Copyright Genpact. All Rights Reserved. BFSI* organizations are reducing in-location operating models for FP&A Optimal Target Operating Model 66 34 Forecasting 33 Planning & Budgeting 53 53 33 Performance Management 52 23 Decision Analysis Packet Creation 64 22 Decision Analysis Ad Hoc Report. TargetCurrent • “For each of the core processes below, how would you rank the Operating Model (Outsourced, SSC, In-Location) of the related organization for your firm in 2013? • “For each of the core processes which target delivery model are you targeting for your firm?" (Global SSC; Regional SSC; In- Location) * Banking, Financial Services and Insurance Source: Zenesys, Genpact sponsored research of 150+ cross industry FP&A executives Percentage of respondents fromBFSI that characterize the operating model for FP&A as “in-location”