15 Percent Increase in the Outsourcing of Financial Processes in Germany

15 Percent Increase in the Outsourcing of Financial Processes in Germany

Germany Trade & Invest is participating in the 7th Annual Shared Service & Outsourcing Woche

BERLIN, November 19, 2012 /PRNewswire/ --

    The documents for tax returns have been sent, documents are sorted and there will be a
recalling of invoices paid: It's all done automatically, reliably and securely. This is
what the young business "Smarchive" is promoting for its Cloud-Archive. Financial Times
Deutschland reported that their idea has impressed large-scale industry so much so that
the telecommunications giant Telekom has invested in the start-up. On a small-scale, this
has displayed something of interest for many companies. The outsourcing of financial
processes of companies is one of the themes of the 7th Annual Shared Service and
Outsourcing Woche 2012 in Berlin. Experts from Germany Trade & Invest will be on site from
November 20 to 23.

    "The outsourcing of accounting and financial accounting is not so well established in
Germany. Although the recent trend study of PAC (Pierre Audoin Consultants) has shown that
one in six companies in the DACH region - Germany, Austria and Switzerland - have
outsourced. However, over the next three years, a growth of around 15 percent is expected
in this area," said Dr. Josefine Dutschmann of Germany Trade & Invest.

    According to a study, the main reason for reluctance is due to a lack of experience
with financial service providers. Of particular importance is that the company would offer
individualized services. In contrast, high savings for many in the German market are not
that important. Consequently, the outsourcing of services to low-wage countries is not
necessary and is therefore counter-productive, as the study participants would prefer
local service provisions.

    "This shows that even in this sector, investing in Germany has its advantages. The
Annual Forum will discuss the latest trends as the German shared services and outsourcing
community meets in Berlin," said Josefine Dutschmann further, "there is no better
opportunity to meet the market than this."

    Germany Trade & Invest is the foreign trade and inward investment agency of the
Federal Republic of Germany. The organization advises foreign companies seeking to expand
into the German market. It supports German companies that seek to enter foreign markets,
with foreign trade information.

       
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Germany Trade and Invest