#ACCOUNTING OUTSOURCING SOFTWARE#

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Indian Subsidiary Company of Foreign Parent.

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Select Competitors (Total 142 Featured). Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$837.3 Million by the year 2026. China will remain among the fastest growing in this cluster of regional markets. These regional markets accounting for a combined market size of US$5.7 Billion in the year 2020 will reach a projected size of US$8.2 Billion by the close of the analysis period. In the global Record-to-Report Outsourcing segment, USA, Canada, Japan, China and Europe will drive the 5.5% CAGR estimated for this segment.

Record-to-Report Outsourcing Segment to Reach $9.4 Billion by 2026

#ACCOUNTING OUTSOURCING SOFTWARE#

In Asia Pacific, adoption of latest technologies would drive accounting software market growth. Within Europe, Germany is forecast to grow at approximately 5.2% CAGR while Rest of European market (as defined in the study) will reach US$2.1 Billion by the end of the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 4.9% and 5.4% respectively over the analysis period. 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. The country currently accounts for a 45.7% share in the global market. is estimated at US$18.3 Billion in the year 2021. The Finance and Accounting Outsourcing market in the U.S. Market is Estimated at $18.3 Billion in 2021, While China is Forecast to Reach $2 Billion by 2026 This segment currently accounts for a 24.5% share of the global Finance and Accounting Outsourcing market. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Source-To-pay Outsourcing segment is readjusted to a revised 5.9% CAGR for the next 7-year period. Multi-Process F&A BPO, one of the segments analyzed in the report, is projected to grow at a 6.8% CAGR to reach US$19.3 Billion by the end of the analysis period. 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.Īmid 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.

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. 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. 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. 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. Growing demand for transparency and increased regulations are driving companies to standardize their F&A (Finance and Accounting) BPO activities. 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). Global Finance and Accounting Outsourcing Market to Reach US$53.4 Billion by the Year 2026Īccounting outsourcing service constitutes a critical function in the overall finance and accounting market. Access to our digital archives and MarketGlass Research Platform Online interactive peer-to-peer collaborative bespoke updates New York, J(GLOBE NEWSWIRE) - announces the release of the report 'Global Finance and Accounting Outsourcing Industry'.

Accounting outsourcing