Accounting outsourcing opportunities

Many small businesses from developed countries are considering finance and accounting outsource services like accounts payable, account receivable, and general bookkeeping services. As the small business see the value beyond cost savings in large corporations due to higher-value F&A outsourcing, they are considering outsourcing higher-value accounting projects like accounting and financial process innovation, real-time accounting integration, budgeting and forecasting. Some small businesses are considering outsourcing their entire accounting and financial operations to outsource vendors. Increasing confidence in accounting outsource providers skills, availability of tools and technologies, and accounting process standardization are making the shift for the small businesses on outsourcing higher-value accounting projects.

Accounting outsourcing provider maturity in Small Business

Both the accounting outsourcing buyer and the provider relationship has matured for the past several years. Now several small businesses are considering their accounting outsource providers as the strategic partners. They are not using the accounting outsource providers just to save cost but to introduce innovation and efficiency in their accounting and financial business processes. Outsource providers have been continuously improving their service offerings using both technology and accounting business process innovations. These accounting outsource providers have been working with several small businesses and CPA firms for several years, each small business has its own accounting software packages and use different accounting processes to maintain their business transactions. By working with several small businesses the outsource providers learned to standardize and reuse the accounting process improvements across different vertical domains like retailing, manufacturing, and service based industries. As the accounting outsource providers gain accounting business knowledge for a particular vertical industry, now they are started marketing their services to other small businesses on that business domain. As they gain accounting process experience naturally, they are finding their own niche in vertical business domains to sell their services