Finance and Accounting Outsourcing (FAO) Market Size, Share, Trends, Growth Outlook

The Global Finance and Accounting Outsourcing (FAO) Market Size is estimated to register 10.8% growth over the forecast period from 2023 to 2030.

 

The market growth is driven by an increasing FAO industry moving towards greater digitization with the adoption of advanced technologies like Robotic Process Automation (RPA), AI, and machine learning. These technologies streamline financial processes and reduce manual intervention. Leading Companies focusing on Digital Transformation, Advanced Analytics and Predictive Modeling, End-to-End Services, Industry-Specific Expertise, Sustainability and ESG Reporting, Hybrid Models, AI-Powered Customer Support, and others to boost market shares in the industry.

Market Overview

The Finance and Accounting Outsourcing (FAO) market involves organizations outsourcing their financial and accounting tasks to third-party service providers. Key players like Accenture and Genpact offer various services, including accounts payable and receivable, financial reporting, and payroll processing. This market has grown steadily due to cost reduction, access to expertise, and the focus on core business activities. Major trends include digital transformation, cost savings, and compliance, while challenges involve data security and alignment issues. The FAO market's future is expected to be marked by continued technological advancements, data analytics, and industry-specific solutions as businesses seek cost-effective, agile financial processes.

 

Market Dynamics

Market Trends- Industry-specific FAO providers offer accounting and bookkeeping services tailored to the specific needs of businesses in different industries

Industry-specific FAO providers cater to businesses in various sectors by offering customized accounting and bookkeeping services that align with the unique financial requirements and regulatory nuances of each industry. Whether it's healthcare, manufacturing, or retail, these specialized FAO providers possess in-depth knowledge of sector-specific accounting practices and can ensure accurate financial reporting and compliance. This tailored approach enhances the precision and efficiency of financial operations, enabling businesses to focus on core competencies and strategic growth while entrusting their sector-specific financial tasks to experts who understand the intricacies of their industry.

 

Market Driver- The globalization of businesses is driving the demand for finance and accounting outsourcing (FAO) market services.

The globalization of businesses is a major driver of the growing demand for Finance and Accounting Outsourcing (FAO) services. As companies expand globally, they face complex financial challenges related to diverse currencies, regulatory compliance, and cross-border transactions. FAO services streamline these processes, offering expertise in international financial operations. This trend benefits not only large corporations but also small and mid-sized enterprises aiming to access global markets. As globalization continues, the FAO market is expected to expand, emphasizing scalable and compliant financial solutions to meet the diverse needs of businesses in an interconnected world.

 

Market Opportunity- The introduction of mergers and acquisitions is driving the demand for FAO market services.

The introduction of mergers and acquisitions (M&A) has emerged as a significant driver for the Finance and Accounting Outsourcing (FAO) market. M&A activities require expertise in financial integration and reporting, making FAO services vital for seamless consolidation and management of financial operations. This demand is poised to grow as businesses continue to engage in strategic mergers and acquisitions, highlighting the essential role of FAO providers in supporting these complex financial processes.

 

Market Share Analysis- Business Support Outsourcing Services Finance and Accounting Outsourcing (FAO) Market will register the fastest growth

The Global Finance and Accounting Outsourcing (FAO) Market is analyzed across Business Support Outsourcing Services, Specific Function Outsourcing Services, Universal Terminal Outsourcing Services, and others. Business Support Outsourcing Services is poised to register the fastest growth. Business Support Outsourcing Services, specifically Finance and Accounting Outsourcing (FAO), encompasses the delegation of financial and accounting functions to external service providers. FAO includes services like accounts payable, payroll processing, and financial reporting. It has witnessed consistent growth due to cost savings, specialized expertise, and the focus on core business activities. The market's future involves ongoing technological advancements, a greater emphasis on data analytics, and industry-specific solutions, positioning FAO to offer efficient and adaptable financial services to businesses.

 

Market Share Analysis- SMEs held a significant market share in 2023

The Global Finance and Accounting Outsourcing (FAO) Market is analyzed across various applications including SMEs, Large Enterprises, and others. Of these, SMES held a significant market share in 2023. Small and Medium-sized Enterprises (SMEs) are increasingly turning to Finance and Accounting Outsourcing (FAO) services as they lack the internal resources and expertise to handle complex financial and accounting tasks. FAO offers cost-effective solutions, specialized financial expertise, and compliance assurance. Providers are customizing their services to meet the specific needs and budget constraints of SMEs, driving the adoption of outsourcing solutions in this sector.

 

Finance and Accounting Outsourcing (FAO) Market Segmentation

By Type

• Business Support Outsourcing Services
• Specific Function Outsourcing Services
• Universal Terminal Outsourcing Services

By Application

• SMEs
• Large Enterprises

By Channel

• Direct Channel
• Distribution Channel

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)

 

Finance and Accounting Outsourcing (FAO) Market Companies

• Capgemini
• HCL Technologies
• CBRE Group
• Accenture
• Cognizant
• Datamatics
• Amdocs
• TTEC Holdings
• Everest Group
• Genpact
• HPE
• IBM
• Tata Consultancy Services
• Infosys
• Vee Technologies
• Invensis
• Tech Mahindra
• NCR Corporation
• Premier BPO
• Wipro
• Serco Group
• Sodexo
• Sutherland

*List not exhaustive

Finance and Accounting Outsourcing Market Outlook 2023

1 Market Overview

1.1 Introduction to the Finance and Accounting Outsourcing Market

1.2 Scope of the Study

1.3 Research Objective

1.3.1 Key Market Scope and Segments

1.3.2 Players Covered

1.3.3 Years Considered

 

2 Executive Summary

2.1 2023 Finance and Accounting Outsourcing Industry- Market Statistics

3 Market Dynamics

3.1 Market Drivers

3.2 Market Challenges

3.3 Market Opportunities

3.4 Market Trends

 

4 Market Factor Analysis

4.1 Porter’s Five Forces

4.2 Market Entropy

4.2.1 Global Finance and Accounting Outsourcing Market Companies with Area Served

4.2.2 Products Offerings Global Finance and Accounting Outsourcing Market

 

5 COVID-19 Impact Analysis and Outlook Scenarios

5.1.1 Covid-19 Impact Analysis

5.1.2 post-COVID-19 Scenario- Low Growth Case

5.1.3 post-COVID-19 Scenario- Reference Growth Case

5.1.4 post-COVID-19 Scenario- Low Growth Case

 

6 Global Finance and Accounting Outsourcing Market Trends

6.1 Global Finance and Accounting Outsourcing Revenue (USD Million) and CAGR (%) by Type (2018-2030)

6.2 Global Finance and Accounting Outsourcing Revenue (USD Million) and CAGR (%) by Applications (2018-2030)

6.3 Global Finance and Accounting Outsourcing Revenue (USD Million) and CAGR (%) by regions (2018-2030)

 

7 Global Finance and Accounting Outsourcing Market Revenue (USD Million) by Type, and Applications (2018-2022)

7.1 Global Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

7.1.1 Global Finance and Accounting Outsourcing Revenue (USD Million), Market Share (%) by Type (2018-2022)

7.2 Global Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

7.2.1 Global Finance and Accounting Outsourcing Revenue (USD Million), Market Share (%) by Applications (2018-2022)

 

8 Global Finance and Accounting Outsourcing Development Regional Status and Outlook

8.1 Global Finance and Accounting Outsourcing Revenue (USD Million) By Regions (2018-2022)

8.2 North America Finance and Accounting Outsourcing Revenue (USD Million) by Type, and Application (2018-2022)

8.2.1 North America Finance and Accounting Outsourcing Revenue (USD Million) by Country (2018-2022)

8.2.2 North America Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

8.2.3 North America Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

8.3 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Type, and Applications (USD Million) (2018-2022)

8.3.1 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Country (2018-2022)

8.3.2 Europe Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

8.3.3 Europe Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

8.4 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million), and Revenue (USD Million) by Type, and Applications (2018-2022)

8.4.1 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) by Country (2018-2022)

8.4.2 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

8.4.3 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

8.5 South America Finance and Accounting Outsourcing Revenue (USD Million), by Type, and Applications (2018-2022)

8.5.1 South America Finance and Accounting Outsourcing Revenue (USD Million), by Country (2018-2022)

8.5.2 South America Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

8.5.3 South America Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

8.6 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million), by Type, Technology, Application, Thickness (2018-2022)

8.6.1 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) by Country (2018-2022)

8.6.2 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) by Type (2018-2022)

8.6.3 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) by Applications (2018-2022)

 

9 Company Profiles

 

10 Global Finance and Accounting Outsourcing Market Revenue (USD Million), by Type, and Applications (2023-2030)

10.1 Global Finance and Accounting Outsourcing Revenue (USD Million) and Market Share (%) by Type (2023-2030)

10.1.1 Global Finance and Accounting Outsourcing Revenue (USD Million), and Market Share (%) by Type (2023-2030)

10.2 Global Finance and Accounting Outsourcing Revenue (USD Million) and Market Share (%) by Applications (2023-2030)

10.2.1 Global Finance and Accounting Outsourcing Revenue (USD Million), and Market Share (%) by Applications (2023-2030)

 

11 Global Finance and Accounting Outsourcing Development Regional Status and Outlook Forecast

11.1 Global Finance and Accounting Outsourcing Revenue (USD Million) By Regions (2023-2030)

11.2 North America Finance and Accounting Outsourcing Revenue (USD Million) by Type, and Applications (2023-2030)

11.2.1 North America Finance and Accounting Outsourcing Revenue (USD) Million by Country (2023-2030)

11.2.2 North America Finance and Accounting Outsourcing Revenue (USD Million), by Type (2023-2030)

11.2.3 North America Finance and Accounting Outsourcing Revenue (USD Million), Market Share (%) by Applications (2023-2030)

11.3 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Type, and Applications (2023-2030)

11.3.1 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Country (2023-2030)

11.3.2 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Type (2023-2030)

11.3.3 Europe Finance and Accounting Outsourcing Revenue (USD Million), by Applications (2023-2030)

11.4 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) by Type, and Applications (2023-2030)

11.4.1 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million), by Country (2023-2030)

11.4.2 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million), by Type (2023-2030)

11.4.3 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million), by Applications (2023-2030)

11.5 South America Finance and Accounting Outsourcing Revenue (USD Million), by Type, and Applications (2023-2030)

11.5.1 South America Finance and Accounting Outsourcing Revenue (USD Million), by Country (2023-2030)

11.5.2 South America Finance and Accounting Outsourcing Revenue (USD Million), by Type (2023-2030)

11.5.3 South America Finance and Accounting Outsourcing Revenue (USD Million), by Applications (2023-2030)

11.6 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million), by Type, and Applications (2023-2030)

11.6.1 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million), by region (2023-2030)

11.6.2 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million), by Type (2023-2030)

11.6.3 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million), by Applications (2023-2030)

 

12 Methodology and Data Sources

12.1 Methodology/Research Approach

12.1.1 Research Programs/Design

12.1.2 Market Size Estimation

12.1.3 Market Breakdown and Data Triangulation

12.2 Data Sources

12.2.1 Secondary Sources

12.2.2 Primary Sources

12.3 Disclaimer

 

List of Tables

Table 1 Market Segmentation Analysis

Table 2 Global Finance and Accounting Outsourcing Market Companies with Areas Served

Table 3 Products Offerings Global Finance and Accounting Outsourcing Market

Table 4 Low Growth Scenario Forecasts

Table 5 Reference Case Growth Scenario

Table 6 High Growth Case Scenario

Table 7 Global Finance and Accounting Outsourcing Revenue (USD Million) And CAGR (%) By Type (2018-2030)

Table 8 Global Finance and Accounting Outsourcing Revenue (USD Million) And CAGR (%) By Applications (2018-2030)

Table 9 Global Finance and Accounting Outsourcing Revenue (USD Million) And CAGR (%) By Regions (2018-2030)

Table 10 Global Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 11 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Type (2018-2022)

Table 12 Global Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 13 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Applications (2018-2022)

Table 14 Global Finance and Accounting Outsourcing Market Revenue (USD Million) By Regions (2018-2022)

Table 15 Global Finance and Accounting Outsourcing Market Share (%) By Regions (2018-2022)

Table 16 North America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Table 17 North America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 18 North America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 19 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Table 20 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 21 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 22 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Table 23 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 24 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 25 South America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Table 26 South America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 27 South America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 28 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2018-2022)

Table 29 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Table 30 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Table 31 Financial Analysis

Table 32 Global Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 33 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Type (2023-2030)

Table 34 Global Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 35 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Applications (2023-2030)

Table 36 Global Finance and Accounting Outsourcing Market Revenue (USD Million), And Revenue (USD Million) By Regions (2023-2030)

Table 37 North America Finance and Accounting Outsourcing Revenue (USD)By Country (2023-2030)

Table 38 North America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 39 North America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 40 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Table 41 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 42 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 43 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Table 44 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 45 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 46 South America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Table 47 South America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 48 South America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 49 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2023-2030)

Table 50 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2023-2030)

Table 51 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Table 52 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Table 53 Research Programs/Design for This Report

Table 54 Key Data Information from Secondary Sources

Table 55 Key Data Information from Primary Sources

 

List of Figures

Figure 1 Market Scope

Figure 2 Porter’s Five Forces

Figure 3 Global Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 4 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Type (2022)

Figure 5 Global Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 6 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Applications (2022)

Figure 7 Global Finance and Accounting Outsourcing Market Revenue (USD Million) By Regions (2018-2022)

Figure 8 Global Finance and Accounting Outsourcing Market Share (%) By Regions (2022)

Figure 9 North America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Figure 10 North America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 11 North America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 12 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Figure 13 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 14 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 15 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Figure 16 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 17 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 18 South America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2018-2022)

Figure 19 South America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 20 South America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 21 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2018-2022)

Figure 22 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Type (2018-2022)

Figure 23 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2018-2022)

Figure 24 Global Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 25 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Type (2030)

Figure 26 Global Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 27 Global Finance and Accounting Outsourcing Revenue Market Share (%) By Applications (2030)

Figure 28 Global Finance and Accounting Outsourcing Market Revenue (USD Million) By Regions (2023-2030)

Figure 29 North America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Figure 30 North America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 31 North America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 32 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Figure 33 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 34 Europe Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 35 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Figure 36 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 37 Asia Pacific Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 38 South America Finance and Accounting Outsourcing Revenue (USD Million) By Country (2023-2030)

Figure 39 South America Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 40 South America Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 41 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2023-2030)

Figure 42 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Region (2023-2030)

Figure 43 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Type (2023-2030)

Figure 44 Middle East and Africa Finance and Accounting Outsourcing Revenue (USD Million) By Applications (2023-2030)

Figure 45 Bottom-Up and Top-Down Approaches for This Report

Figure 46 Data Triangulation

 

Finance and Accounting Outsourcing (FAO) Market Segmentation

By Type

• Business Support Outsourcing Services
• Specific Function Outsourcing Services
• Universal Terminal Outsourcing Services

By Application

• SMEs
• Large Enterprises

By Channel

• Direct Channel
• Distribution Channel

By Region

• North America (United States, Canada, Mexico)
• Europe (Germany, France, United Kingdom, Spain, Italy, Others)
• Asia Pacific (China, India, Japan, South Korea, Australia, Others)
• Latin America (Brazil, Argentina, Others)
• Middle East and Africa (Saudi Arabia, UAE, Kuwait, Other Middle East, South Africa, Nigeria, Other Africa)