Shortage of good statisticians drives financial outsourcing boom

A shortage of top-class number-crunchers is driving a surge in financial outsourcing, according to an expert.

Brian Pitman, senior advisor at financial services firm Morgan Stanley, said companies were increasingly turning to specialist firms to look after their finance departments.

Outsourcing deals can deliver a better quality service at a lower cost, he told delegates at the National Outsourcing Association's annual summit in Westminster.

"There is a shortage of outstanding people in finance, so you can attract better people by outsourcing your finance function," he said. "More and more companies are doing this."

Pitman added that outsourcing would continue to grow for years to come. "Five years from now, things will be outsourced that you never dreamed of outsourcing," he said.