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

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DUBLIN–(BUSINESS WIRE)–The “Finance and Accounting Outsourcing – Global Market Trajectory & Analytics” report has been added to ResearchAndMarkets.com’s offering.

Amid the COVID-19 crisis, the global market for Finance and Accounting Outsourcing estimated at US$37.9 Billion in the year 2020, is projected to reach a revised size of US$53.4 Billion by 2026, growing at a CAGR of 5.9% over the analysis period.

Global Finance and Accounting Outsourcing Market to Reach US$53.4 Billion by the Year 2026

Accounting outsourcing service constitutes a critical function in the overall finance and accounting market. The global economic crisis is expected to foster the demand for F&A BPO activities, as the service needs less customization when the process and technology are outsourced (in comparison to customer care and HR BPO). Growing demand for transparency and increased regulations are driving companies to standardize their F&A (Finance and Accounting) BPO activities. The move towards standardization is also driving the incorporation of best practices in financial management, which is major driving factor for the adoption of F&A BPO services.

The regulated nature of numerous F&A standards allows BPO service providers to deploy a common platform for various customers, thereby reducing customization, improving margins, and allowing customers to capitalize on the economies of scale. Number of new companies starting to use accounting outsourcing each year has been constantly increasing while the service contracts of older clients have also been extending for outsourcing companies. Going forward, outsourcing service providers would increasingly harness advanced technologies like machine automation and artificial intelligence for speeding up tasks and increasing productivity for clients. The finance and accounting outsourcing domain is witnessing a pressing need for providers to migrate from archaic pricing models towards automation initiatives to stay relevant and ensure renewal of service contracts.

The U.S. Market is Estimated at $18.3 Billion in 2021, While China is Forecast to Reach $2 Billion by 2026

The Finance and Accounting Outsourcing market in the U.S. is estimated at US$18.3 Billion in the year 2021. The country currently accounts for a 45.7% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$2 Billion in the year 2026 trailing a CAGR of 7.6% through the analysis period.

Select Competitors (Total 142 Featured):

  • Accenture PLC
  • Capgemini SE
  • Cognizant Technology Solutions Corporation
  • Exlservice Holdings, Inc.
  • Genpact
  • Hewlett-Packard Development Company LP
  • IBM Corporation
  • Infosys BPM Limited
  • Serco Group Plc
  • Sutherland Global Services
  • Tata Consultancy Services Ltd.
  • Wipro Ltd.
  • WNS (Holdings) Ltd.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

  • Impact of Covid-19 and a Looming Global Recession
  • 2020: A Year of Disruption & Transformation
  • As the Race between the Virus & Vaccines Intensifies, Where is the World Economy Headed in 2021
  • Pandemic Impact on Business Process Outsourcing
  • COVID-19 Crisis Accelerates Demand for F&A Outsourcing
  • Finance and Accounting Outsourcing: A Brief Prelude
  • Key Benefits of Outsourcing Finance and Accounting Operations
  • Financial Savings and Reduction in Overhead Costs
  • Access to Vast Talent Pool
  • Increasing Working Capital
  • Risk Transference to Supplier
  • Realizing Business Value
  • Helps Companies to Expand and Achieve Business Growth
  • Access of Advanced Systems and Technologies
  • Improved Accuracy and Processes
  • Focus on Integrated Solutions
  • Offers Real-Time, Relevant Information
  • Proactive Accounting
  • Addressing Clients Requirements
  • When Should Businesses Opt for Outsourced Finance and Accounting Services

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

  • Companies Increasingly Move to Disruptive Technologies to Enhance Capabilities
  • Automation to Help Players Stay Ahead in Finance & Accounting Outsourcing Game
  • Robotic Process Automation Makes Drastic Improvement in Response Times
  • AI and ML Seek a Bigger Role in FAO
  • Growing Role of IoT in F&A
  • Data Analytics Gains Importance as Increasing Number of Enterprises Leverage Data to Meet Business Objectives
  • FAO Firms Leverage Blockchain Technology
  • Industry Witnesses Rising Adoption of Cloud-based Accounting Software
  • Rise in Adoption of Digitization Drives in F& A Industry
  • CFOs Seek Digital Finance & Accounting Providers to Re-Imagine Finance Operations
  • Social Media Networking Trend Transforms Business Strategies
  • Advisory Services Record Strong Growth
  • Multi-Source Approach Gathers Steam
  • Benefits of Multi-Sourcing Approach
  • Offshore Staffing for Remote Working : The New Norm
  • Businesses Pay Heavy Attention on New Strategies
  • Increasing Number of Retiring Accountants and a Tight Accounting Market Drive Companies Turn to Outsourcing
  • Rise in new Rules and Regulations, Income Tax Changes Drive Demand
  • Increased Focus on Data Security Drive Companies to Turn to FAOs
  • F&A Outsourcing Offers Improved Businesses Value
  • Big Data Remains in Contention to Streamline Operations
  • Rise in Adoption of Accounting Software
  • Small and Midsize Businesses Make a Headway
  • Emergence of Business Process Utility
  • Millennials Emerge as a Lucrative Market
  • America, Europe, China & Japan, Latin America and Rest of World
  • Brexit Requirements to Increase Business for Accounting Outsourcing Firms
  • Industry Witnesses Increased investments in Onshore and Nearshore Capabilities

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

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

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