OpusCapita opens office in Frankfurt / Main – strong market growth expected for F&A-outsourcing and e-invoicing
January 20, 2015
OpusCapita has opened a new representative office in Frankfurt / Main. Located at Mainzer Landstraße 50 between city center, fair and main station, OpusCapita offers its most southern contact point for customers in Germany. The German head office of the specialist for the automation and outsourcing of financial transaction processes with Finnish roots is located in Hanover. The expansion is also a strategic investment: OpusCapita expects a strong growth of the outsourcing market in the field of finance & accounting in Germany.
“Through automation and especially through outsourcing in the field of F&A, German companies can aim for major cost cutting and benefit from strategic advantages. In comparison with the Nordics and other countries bordering the Baltic Sea, the German market is significantly less developed. By opening a representative office at the financial center Frankfurt, we take this fact into account“, says Christian Scherf, managing director of OpusCapita GmbH. According to Scherf’s opinion the backwardness of German companies will decrease dramatically in the medium term. There are three main reasons for this: firstly, outsourcing as reaction to cost pressure and as means for crisis prevention, secondly, the fading of unfounded reservations of CFOs and thirdly, e-invoicing as driving force for comprehensive projects in the field of Business Process as a Service (BPaaS).
Crisis-resistant through outsourcing
“Our experience has shown that increasing cost pressure in companies and the fear of crises lead to upswings in the field of outsourcing. After the large outsourcing waves in the fields of IT and HR payroll, the upcoming trend will be the outsourcing of financial or accounting processes“, explains Scherf. “Besides aiming for the primary goal of instant cost reduction, CFOs can ensure strategic advantages: clearly identifiable transaction costs as well as variable costs adapting accordingly to the situation, for example, grant them overview and freedom of action in crisis situations.“
In autumn 2014, a study by Pierre Audoin Consultants (PAC), supported by OpusCapita, has shown, that many German finance departments tend to have reservations towards F&A outsourcing. It was obvious that concerns were higher, where there was no practical experience. “94 percent of the companies who have already gained own experiences with F&A BPO-service providers, rated their providers positively. With the increasing economic pressure more and more companies will tend to change their view“, explains Scherf.
E-invoicing as driving force
In Europe the percentage of electronically processed accounting operations in the public sector and between companies will grow by about 22 percent per year, according to the forecast of the Swiss industry expert Billentis. “As soon as a uniform data standard has been established, for example ZUGFeRD or Peppol, the growth expectations in Germany will increase even more. With 30 years of experience working as an expert for the automation of financial transaction processes, we can confirm this expected tendency“, says Scherf. As an enterprise owned by the Finnish state, OpusCapita has implemented many of such projects in the generally more progressive Nordic region. “There it has also shown: Once companies have successfully implemented their first pilot project – for example e-invoicing based on Software-as-a-Service (SaaS) – they tend to be willing to make use of the full optimization potential with more comprehensive Business Process as a Service (BPaaS)“, adds Scherf.