MIAMI & LONDON, April 13, 2023 – The Hackett Group, Inc. (NASDAQ: HCKT) today announced that its Market Intelligence Service has launched a new research project that will evaluate and rank finance and accounting outsourcing solutions providers.
The Finance and Accounting Outsourcing research report, which The Hackett Group® expects to issue in Q3 2023, will detail and quantify the broad range of benefits that companies can accrue by working with individual outsourcing solutions providers. The scope of the research will cover finance operations and analysis, including purchase-to-pay, customer-to-cash, general accounting, consolidation and regulatory reporting, control & risk management and financial planning & analysis capabilities.
For the report, The Hackett Group will interview solutions providers and their customers and compare their actual results comparing expected value with realized value across a range of performance measures and using data from The Hackett Group’s industry-leading benchmarks. The analysis will study differentiated capabilities and the value realized from each solutions provider and their customers, as well as provide an assessment of their investment roadmap. It will also recognize the solutions providers that offer the greatest value realization and the greatest breadth of capability. Finally, it will rank all solutions providers covered in the report as Digital World Class, Innovators, Incumbents, Challengers, or Emerging.
According to Ted A. Fernandez, Chairman & CEO of The Hackett Group, “Our new Market Intelligence Service was developed specifically in response to requests from our global clients, which includes 93% of the Fortune 100. They have consistently cited a gap in provider insight around the realization of value from specific software and service investments. The Hackett Group is uniquely qualified to address this fundamental requirement in market intelligence due to our vast benchmarking database and implementation knowledge.”
The Hackett Group Chief Market Intelligence Officer Michel Janssen added, “The Hackett Group has been working with companies to optimize their outsourcing relationships for nearly two decades. But until recently, the focus of finance and accounting outsourcing has been almost exclusively on labor arbitrage – hiring low-cost professionals in India, Eastern Europe, and elsewhere to handle finance and accounting outsourcing activities.
“Over the last few years, the landscape has changed,” said Janssen. “As outsourcers have matured, they’ve learned how to provide more strategic capabilities. And more recently, digital transformation has shifted the discussion again to focus on helping companies take advantage of the latest advances in automation, advanced analytics, artificial intelligence and other cutting-edge technologies. Today, outsourcers can provide thought leadership and offer a much wider range of benefits to companies, from reduced cost to improved efficiency, effectiveness, broader digital capabilities and enhancements to the customer experience.
“Companies need to understand this new landscape so that they can enter into outsourcing contracts, or renegotiate existing ones, to generate greater business value. Our research will provide them with the guidance they need to do precisely this,” said Janssen.
More information on The Hackett Group’s Market Intelligence Service is available at https://www.thehackettgroup.com/market-intelligence/.
About The Hackett Group
The Hackett Group, Inc. (NASDAQ: HCKT) is a leading benchmarking, research advisory and strategic consultancy firm that enables organizations to achieve Digital World Class™ performance.
Drawing upon our unparalleled intellectual property from more than 25,000 benchmark studies and our Hackett-Certified® best practices repository from the world’s leading businesses – including 97% of the Dow Jones Industrials, 93% of the Fortune 100, 73% of the DAX 40 and 52% of the FTSE 100 – captured through our leading benchmarking platform, Quantum Leap® and our Digital Transformation Platform, we accelerate digital transformations, including enterprise cloud implementations.
More information on The Hackett Group is available at: www.thehackettgroup.com, firstname.lastname@example.org, or by calling (770) 225-3600.
The Hackett Group, Hackett-Certified, quadrant logo, World Class Defined and Enabled, Quantum Leap, Digital World Class and Hackett Excelleration Matrix are the registered marks of The Hackett Group.
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This release contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act of 1934, as amended. Statements including without limitation, words such as “expects,” “anticipates,” “intends,” “plans,” “believes,” seeks,” “estimates,” or other similar phrases or variations of such words or similar expressions indicating, present or future anticipated or expected occurrences or outcomes are intended to identify such forward-looking statements. Forward-looking statements are not statements of historical fact and involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance or achievements to be materially different from the results, performance or achievements expressed or implied by the forward-looking statements. Factors that may impact such forward-looking statements include without limitation, the ability of The Hackett Group to effectively market its digital transformation and other consulting services, competition from other consulting and technology companies that may have or develop in the future, similar offerings, the commercial viability of The Hackett Group and its services as well as other risk detailed in The Hackett Group’s reports filed with the United States Securities and Exchange Commission. The Hackett Group does not undertake any duty to update this release or any forward-looking statements contained herein.