IT can help chief financial officers handle their agendas better and improve corporate performance, it has been claimed.

According to industry analyst Gartner, business process outsourcing and finance restructuring are becoming increasingly commonplace and the market for these services in beginning to mature.

Cathy Tornbohm, research vice president at the firm, said time can be lost at the start of an outsourcing initiative through lack of preparation.

“What is often overlooked is the vast amount of work that needs to take place in advance of outsourcing in order for the outsourcer to support these finance processes effectively,” she added.

Ms Tornbohm went on to advocate that chief information officers and finance leaders work together to make sure outsourcing ventures are successful.

Earlier this month, the PFH Technology group claimed companies of all sizes are currently choosing to outsource their IT operations and different firms require individual approaches from their service providers.