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Opportunity Knocks Twice

Under more pressure to reduce costs, increase productivity and avoid accounting errors, CFOs look to outsourcers, who now see middle-market companies as an engine for growth.

By Beth Karlin | Updated on February 01, 2009

When Educational Testing Services (ETS) acquired Prometric from Thomson Corp. in 2007–the companies faced an immediate challenge. They had just four months to create a stand-alone finance and accounting system for Prometric. Previously, Baltimore-based Prometric relied on Thomson shared services. Further complicating the transition, Prometric, which specializes in computerized testing, is a for-profit company headquartered in Princeton, N.J. ETS, known for the SAT, ACT, MCAT and LSAT tests, is a nonprofit.

With limited time, ETS turned to Accenture BPO Services LLC , which is based in Wichita, Kan., to provide the staff and systems that are required for procurement, accounts payable, expense reporting, general accounting and financial reporting services, all supported by an Accenture proprietary enterprise resource planning (ERP) network. Accenture also contributes to back-office functions, including accounts payable and fixed assets, notes Prometric CFO Chris Derr. “They offered us a quick, ready response that couldn’t be duplicated in-house,” he says. The project was finished on time, allowing Prometric to supply ETS with its 2007 financial data. “It had to be done,” says Derr. “There was no other option.”

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