The outsourcing of financial and payroll management is still growing, with expertise and quality taking first place in a survey
Taloushallintoliitto, a Finnish association for financial management service providers, is surveying factors related to the outsourcing of financial and payroll management. The first results of this survey suggest that, when it comes to outsourcing, expertise and quality are the decisive factors in partner selection. Jussi Jaakkola, Administer’s Sales Director, believes that the outsourcing trend will continue in the coming years.
One factor in the outsourcing of financial and payroll management is the company’s focus on its core business. Currently, only 39% of company respondents do all of their payroll management themselves, while 40% have outsourced their payroll management fully and 21% have outsourced parts of it. For financial management, only 24% do their own financial management, while 32% have outsourced it fully and 43% have outsourced it partially.
"There is plenty of demand in the market, which is also shown by the preliminary survey results. I believe that the outsourcing trend we have seen in previous years will continue in the coming years. Measured by turnover, Administer is already one of the biggest providers of financial management services in Finland and, measured by the number of payslips, we are also the biggest provider of HR and payroll management services in Finland,” says Jussi Jaakkola, Administer Group’s Sales Director.
According to the respondents, the partner’s expertise and the high quality of their work were the most important factors in the outsourcing of services. The responses also show that respondents favour one partner and invest in long-term partnerships.
“At Administer, we have a big group of long-term customers, who we have worked with for years. Decisions to change a financial or payroll management partner are not made lightly. Instead, continuity is valued. Despite increased digitalisation and the efficiency of systems, expertise is clearly highlighted in the results, and, according to my own experience, it is also our customers’ most important requirement. We invest in the continuous training of those of our employees who do work for our customers, and a good example of this are the valued KLT and PHT examinations, which we offer to everyone who wants them,” Jaakkola says.
The survey is conducted by Aula Research and commissioned by Taloushallintoliitto together with its member businesses. There is still time to respond to the survey, and the final results will be completed in June. The target group is all Finnish businesses, from small to medium-sized to large, as well as cities and municipalities.
For further information, please contact:
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About Administer Oyj
Administer Group, founded in 1985, is a Finnish company that offers financial and payroll management services as well as consulting and software services. Our customers include organisations of all sizes, from small and mid-sized companies to large enterprises and municipalities. Our goal is to reform the financial management service market by developing new technologies and solutions. Measured in revenue, we are one of the largest providers of financial management services and HR and payroll services in Finland. In 2021, our revenue was EUR 42 million and we employed approximately 600 financial management professionals.
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