The finance and accounting outsourcing services market size is expected to register a CAGR of 10.4% during 2023–2031. The adoption of advanced technologies such as artificial intelligence (AI), machine learning and robotic process automation is likely to remain a key trend in the market.
The finance and accounting outsourcing services market includes growth prospects owing to the current market trends and their foreseeable impact during the forecast period. The finance and accounting outsourcing services market is growing due to the rapid adoption of outsourcing services and increased globalization. Growing SMEs and startups provide lucrative opportunities for finance and accounting outsourcing services market growth.
Outsourcing finance and accounting refers to hiring a third party (outside the company) to carry out the organization's financial and accounting tasks. Organizations in the financial and accounting sector can outsource services such as bookkeeping, financial reporting, management reporting, tax preparation, accounts payable, accounts receivable, and others. Organizations nowadays have realized the huge potential of contracting out essential company functions to external companies and individuals. Businesses are transitioning from internal operations to outsourced operations for services, from human resource outsourcing to accounting outsourcing.
Over the past few decades, many companies have decided to outsource finance and accounting functions to professionals because they can have a tremendous long-term impact on their business. Long-term benefits include saving time to concentrate on the essential components. Many businesses are starting to outsource their accounting and finance functions more frequently now due to the cost of outsourcing is less than that of hiring one financial executive. All businesses must reduce costs and acquire stronger financial leadership to succeed. Thus, the rapid adoption of outsourcing services will drive the finance and accounting outsourcing services market growth.
The increasing integration of economies, cultures, and communities, or globalization, has had a significant impact on many industries, including finance and accounting. Auditors and accountants must modify their procedures to meet the intricacies and difficulties posed by this global environment as companies grow internationally and trade internationally. Globalization offers chances for innovation, cooperation, and progress, but it also poses difficulties in terms of risk exposure, regulatory compliance, and ethical issues. In order to be efficient and current in this dynamic environment, auditors and accountants must continue to outsource services as the world grows more interconnected.
Key segments that contributed to the derivation of the finance and accounting outsourcing services market analysis are service outlook, enterprise size, and vertical.
The geographic scope of the finance and accounting outsourcing services market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South & Central America.
North America is experiencing rapid growth and is anticipated to hold a significant co-finance and accounting outsourcing services market share. With the advancement of technology and the increasing demand for outsourcing services, organizations in North America are investing heavily in upgrading their finance and accounting sectors. Moreover, organizations in North America are focusing on enhancing customer experience, improving operational efficiency, and ensuring regulatory compliance through the implementation of outsourcing services.
The regional trends and factors influencing the Finance and Accounting Outsourcing Services Market throughout the forecast period have been thoroughly explained by the analysts at Insight Partners. This section also discusses Finance and Accounting Outsourcing Services Market segments and geography across North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America.
| Report Attribute | Details |
|---|---|
| Market size in 2024 | US$ XX million |
| Market Size by 2031 | US$ XX Million |
| Global CAGR (2025 - 2031) | 10.4% |
| Historical Data | 2021-2023 |
| Forecast period | 2025-2031 |
| Segments Covered |
By Service Outlook
|
| Regions and Countries Covered | North America
|
| Market leaders and key company profiles |
The Finance and Accounting Outsourcing Services Market market is growing rapidly, driven by increasing end-user demand due to factors such as evolving consumer preferences, technological advancements, and greater awareness of the product's benefits. As demand rises, businesses are expanding their offerings, innovating to meet consumer needs, and capitalizing on emerging trends, which further fuels market growth.
Market players density refers to the distribution of firms or companies operating within a particular market or industry. It indicates how many competitors (market players) are present in a given market space relative to its size or total market value.
Major Companies operating in the Finance and Accounting Outsourcing Services Market are:
Disclaimer: The companies listed above are not ranked in any particular order.
The finance and accounting outsourcing services market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. A few of the developments in the finance and accounting outsourcing services market are listed below:
The “Finance and Accounting Outsourcing Services Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering below areas:
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on the request are additional 3–5 company profiles and country-specific analysis of 3–5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
The leading players operating in the finance and accounting outsourcing services market are Accenture, Infosys Limited (Infosys BPM), HCL Technologies Limited, Wipro Limited, Capgemini, Sutherland, IBM Corporation, Tata Consultancy Services Limited, Genpact, Fiserv, Inc., Datamatics, Vee Technologies, Sutherland Global Services, Hewlett-Packard Development Company, Exlservice Holdings, WNS, Cognizant Technology Solutions Corporation, Genpact, Serco Group Plc, and Teleperformance
Adoption of advanced technologies such as artificial intelligence (AI), machine learning and robotic process automation is anticipated to play a significant role in the global finance and accounting outsourcing services market in the coming years.
The global finance and accounting outsourcing services market is expected to grow at a CAGR of 10.4%% during the forecast period 2024 - 2031.
The major factors driving the finance and accounting outsourcing services market are the rapid adoption of outsourcing services and increased globalization.