The finance and accounting outsourcing industry is projected to reach $51.5 billion by 2026, growing at a compound annual growth rate of 4.9%. This growth is expected to put pressure on the accounting sector to meet demand. With skills shortages across the industry, outsourcing the following accounting functions could be a solution which can help support this growth sustainably:
- Accountants: CPA (Certified Public Accountant) or CA (Chartered Accountant) qualified
- Accounts payable
- Accounts receivable
- Bookkeeping
- Payroll processing.
In this blog, we take you through the pros and cons of outsourcing these accounting services and why so many organizations are turning to offshore locations, like the Philippines, as their outsourcing destination.
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