Insights from SSOW: Journey to Driving Process Excellence: Insights from Ascension & TP FAO

At the Shared Services and Outsourcing Week (SSOW) in Orlando, industry leaders Heather Johll  VP Transformation and Readiness, Ascension and Ruchi Gupta, EVP of Global Business Services Practice at Teleperformance (TP), shared their insights on the evolving landscape of Finance & Accounting Outsourcing (FAO). Their session highlighted how strategic partnerships, smart-shoring, and AI-driven automation are revolutionizing finance operations and positioning organizations for sustainable growth.

The Evolution of FAO: Beyond Cost-Saving

Traditionally, outsourcing has been synonymous with labor arbitrage—shifting work to lower-cost locations. However, the modern FAO landscape is far more sophisticated. Organizations now see outsourcing as an enabler for process improvement, AI adoption, and operational efficiency. FAO has shifted from a cost-saving measure to a strategic growth driver, focusing on:

• AI-driven automation reshaping financial processes.
• Smart-shoring and hybrid outsourcing to optimize talent utilization.
• Revenue-centric FAO, transitioning finance from a transactional function to a value-driven one.
• Cultural engagement, ensuring that outsourced teams align with organizational goals.

The Future of Finance & Global Business Services

Ruchi and Heather revealed how CFOs and Global Business Services (GBS) leaders are increasingly prioritizing automation, value creation, and SmartShoring™ to remain competitive. Finance teams are evolving to provide an effortless internal customer experience, moving away from purely transactional activities.

A notable trend is the rapid adoption of AI in FAO, with 70% of enterprises planning to increase AI investments in the coming years. However, the transformation comes with challenges, including:

• Compliance risk management—navigating evolving regulations and mitigating financial risks, especially new cyber security and regulatory risks posed by AI.
• Talent acquisition and retention—ensuring finance professionals have the right skills to leverage AI and automation effectively. 

AI-powered solutions are proving invaluable in overcoming these challenges, with 50% of CFOs prioritizing finance transformation in 2025.

Solving FAO Challenges with a High-Touch, High-Tech Model

Heather stated in the presentation that understanding an organization’s mission and key pain points is crucial when working with an outsourced provider. TP’s FAO model blends high-touch (expert financial professionals) with high-tech (AI-powered automation) to drive operational excellence. This approach enhances scalability and cost optimization through TP’s global network, leading to tangible benefits such as:

• 30% cost reduction through AI-driven efficiencies.
• 40% fewer compliance errors via AI-powered risk management

Ascension’s FAO Transformation: A Case Study

During the session, Heather shared how Ascension, a leading healthcare organization, faced a major challenge with its procure-to-pay (P2P) tool, experiencing low straight-through entry rates and a significant backlog. Rather than adopting a standard OCR tool with high maintenance requirements, Heather sought an end-to-end process solution that would transform finance operations holistically.

Through a collaborative approach with TP, Ascension developed a customized FAO strategy, gaining executive buy-in by demonstrating clear business value. Their transformation plan included:

• Transitioning to SmartShoring™ across Procurement, Invoice Processing, and Travel & Expense functions.
• Deploying key technology solutions:
  - TP Optimize: AI-powered Intelligent Document Processing (IDP) for invoice automation.
  - Genesis Software: Enhancing procurement customer/vendor support.
  - Power BI Analytics: Providing CSAT tracking and efficiency reporting.

This strategy yielded significant results:

• 32% reduction in invoice processing exceptions.
• 98%+ quality score across all FAO processes.
• Attrition rate of 12% (compared to regional 25% and national 30%).
• $28.3 billion total revenue impact.

Key Takeaways

The transformation of FAO is well underway, with AI, automation, and SmartShoring™ leading the charge. The success of organizations like Ascension highlights the value of a high-touch, high-tech approach to finance operations. By leveraging AI-driven efficiencies, optimizing talent allocation, and focusing on value creation rather than mere cost-cutting, finance leaders can position their organizations for long-term growth and resilience.

As outsourcing continues to evolve, forward-thinking CFOs and GBS leaders must embrace technology and strategic partnerships to unlock the full potential of FAO in the modern business landscape. Read more about the transformational work TP is doing here.