Global Finance and Accounting Outsourcing Market Insights to 2026 – Featuring Accenture, Capgemini and Genpact – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Finance and Accounting Outsourcing – Global Market Trajectory & Analytics” Report has been added ResearchAndMarkets.com Offer.

Amid the COVID-19 crisis, the global finance and accounting outsourcing market valued at US$37.9 billion in 2020 is projected to reach a revised size of US$53.4 billion by 2026 and grow at a CAGR of 5.9% over the analysis period.

The global finance and accounting outsourcing market is projected to reach $53.4 billion by 2026

The accounting outsourcing service represents a crucial function in the overall finance and accounting market. The global economic crisis is expected to boost the demand for F&A BPO activities due to the less need for customization of the service when the process and the technology are outsourced (vs. customer care and HR-BPO). The growing demand for transparency and stricter regulations are driving companies to standardize their F&A (Finance and Accounting) BPO activities. The trend toward standardization is also driving the incorporation of financial management best practices, which is a key driver for the adoption of F&A BPO services.

The regulated nature of many F&A standards allows BPO service providers to provide a common platform for diverse clients, reducing customization, improving margins and allowing clients to benefit from economies of scale. The number of new companies starting accounting outsourcing each year has been steadily increasing, while older clients’ service contracts have also been extending for outsourcing companies. In the future, outsourcing service providers would increasingly use advanced technologies such as machine automation and artificial intelligence to speed up tasks and increase productivity for customers. The finance and accounting outsourcing space is witnessing an urgent need for vendors to move from archaic pricing models to automation initiatives to stay relevant and ensure service contract renewals.

The US market is valued at US$18.3 billion in 2021, while China is expected to reach US$2 billion by 2026

The finance and accounting outsourcing market in the USA is valued at US$18.3 billion in 2021. The country currently has a 45.7% share of the world market. China, the second largest economy in the world, is forecast to reach an estimated market size of US$2 billion in 2026, representing a CAGR of 7.6% over the analysis period.

Selected competitors (142 total featured):

  • Accenture PLC

  • Capgemini SE

  • Cognizant Technology Solutions Corporation

  • Exlservice Holdings, Inc.

  • gene pact

  • Hewlett-Packard Development Company LP

  • IBM Corporation

  • Infosys BPM Limited

  • Serco Group Plc

  • Sutherland Global Services

  • Tata Consulting Services Ltd.

  • Wipro Ltd.

  • WNS (Holdings) Ltd.

Main topics covered:

I. METHODOLOGY

II. SUMMARY

1. MARKET OVERVIEW

  • Effects of Covid-19 and a looming global recession

  • 2020: A year of disruption & transformation

  • Where is the global economy headed in 2021 as the race between virus and vaccines intensifies?

  • Impact of the pandemic on business process outsourcing

  • The COVID-19 crisis is accelerating the demand for F&A outsourcing

  • Finance and Accounting Outsourcing: A Quick Start

  • Key Benefits of Outsourcing Finance and Accounting Operations

  • Financial savings and overhead reduction

  • Access to a huge talent pool

  • Increase working capital

  • Transfer of risk to the supplier

  • realize business value

  • Helps companies to expand and achieve business growth

  • Access to advanced systems and technologies

  • Improved accuracy and processes

  • Focus on integrated solutions

  • Provides relevant information in real time

  • Proactive accounting

  • Respond to customer requirements

  • When should companies choose outsourced finance and accounting services?

2. FOCUS ON SELECTED PLAYERS

3. MARKET TRENDS & DRIVERS

  • Organizations are increasingly shifting to disruptive technologies to improve their capabilities

  • Automation to help players get ahead in the finance and accounting outsourcing game

  • Robotic process automation dramatically improves response times

  • AI and ML are aiming for a bigger role in the FAO

  • Growing role of IoT in Q&A

  • Data analytics is gaining importance as more and more companies use data to achieve business goals

  • FAO firms use blockchain technology

  • The industry is witnessing an increasing acceptance of cloud-based accounting software

  • Increase in acceptance of digitization initiatives in the F&A industry

  • CFOs are looking to digital finance and accounting providers to reinvent financial operations

  • Social media networking trend is transforming business strategies

  • Consulting services are experiencing strong growth

  • Multi-source approach is gaining momentum

  • Advantages of the multi-sourcing approach

  • Offshore staff for remote working: The new norm

  • Companies attach great importance to new strategies

  • A rising number of accountants retiring and a tight accounting market are driving companies to turn to outsourcing

  • Increase in new rules and regulations, income tax changes drive demand

  • Increased focus on data security prompts companies to turn to FAOs

  • F&A outsourcing offers enhanced business value

  • Big data remains in competition to optimize operations

  • Increase in adoption of accounting software

  • Small and medium-sized companies are making progress

  • Emergence of Business Process Utility

  • Millennials are becoming a lucrative market

  • America, Europe, China & Japan, Latin America and Rest of the World

  • Brexit business expansion requirements for accounting outsourcing firms

  • Industrial Tools Increased investment in onshore and nearshore capabilities

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

For more information about this report, see https://www.researchandmarkets.com/r/gmruh0

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