Today, businesses are growing fast and using new technology to stay ahead. To keep up, many are changing how they handle their finances. A smart way to do this is by outsourcing accounting tasks to experts. This helps companies save money, work more smoothly, and get better financial advice.
Skilled accountants cost more, tax laws change often, and good talent is hard to find. If you’re facing this, you’re not alone. More U.S. companies now outsource accounting to make smarter decisions not to save money.
The trend is growing. The finance and accounting outsourcing market is set to reach $146 billion by 2025. About 90% of CFOs already outsource some accounting tasks. In 2024, over 40% of CFOs said they plan to outsource more to manage rising labor costs (LinkedIn).
These accounting firms do more than bookkeeping. They help businesses make smart, strategic financial choices.
What Is Meant by Outsourced Accounting Service?
Outsourced accounting is hiring a third party to handle your financial tasks. Traditionally, companies relied on in-house accounting teams. Over time, outsourcing grew popular for cost savings and expertise. Fortune says 54% of companies use third-party teams, and 71% of finance execs outsource or offshore services.
Key benefits include lower costs, expert help, secure data, and focus on core tasks. Industries like CPG and food and beverage are following this trend. Many companies now outsource only specific tasks through selective outsourcing. TechTarget explains, “Selective outsourcing is a targeted sourcing strategy. Teams can perform off-premises work either offshore or onshore.
It differs from staff augmentation, which brings in outside personnel temporarily. Toptal defines it as “The use of outside personnel on a temporary basis to augment the capacity of your organization.” Selective outsourcing, but, is strategic and not for temporary needs. A study by P. Everaert at Ghent University showed 53% of Belgian SMEs use selective outsourcing for accounting, based on a survey of 1,200 managers.
In the U.S., outsourcing rose significantly, especially after COVID-19. Many SMEs began using remote or offshore accounting support. Newswire shared, “The Finance and Accounting Outsourcing market in the U.S. is set at US$18.3 Billion in the year 2021. The country currently accounts for a 45.7% share in the global market.”
Outsourcing is now common. The pandemic boosted its acceptance, but picking the right partner is vital for success.
According to Forbes, The new year has started, and many businesses are unsure about the future. High prices, world problems, and fast tech changes like AI make planning hard. So, instead of growing fast, many companies are playing it safe. They focus on their strengths and use outsourcing to save money, stay flexible, and avoid full-time hires.
It’s also a smart way to use new tech without buying expensive tools. You only pay for what you need, when you need it. To get the most from outsourcing, pick a partner who is flexible, secure, and helpful. Make sure they have a good record and communicate well. Yes, outsourcing has some challenges like less control or time zone issues. The right partner manages these challenges. Outsourcing helps your business save, grow, and stay strong in tough times.
Why More Companies Are Outsourcing Finance Tasks
Hiring accountants costs more and outsourcing saves money. Studies reveal that outsourcing can reduce costs by 20–30%. For instance, if a firm spends $75k a year on on-site accounting, it could save over $15k by switching to an outsourced firm. That extra money could go into marketing or new product development.
Outsourcing connects you with finance experts from healthcare, retail, tech, and more. They handle taxes, ensure accurate reports, and help manage money while staying compliant. As tax laws change, they keep your business audit-ready. When your business grows or hits busy seasons, they adjust their support and no need to hire or train new staff. Whether you’re small or large, outsourcing fits all business sizes. For example, a growing retail company used outsourcing to handle more work and saved time and money. From payroll to taxes, your outsourced team is ready to support you.
Outsourced accounting firms use technology to speed up and enrich financial tasks. QuickBooks, Xero, or NetSuite lets you track finances anytime. Automation handles tasks and gives insights to guide smart decisions. Experts say that automation can raise productivity by 40% and reduce human errors by almost half.
Outsourcing frees business owners to concentrate on clients, growth, and innovation. Experts handle accounting tasks on time, reducing stress. This lets leaders spend more time on big goals while finance pros manage the numbers.
Outsourced accounting firms provide more than reports and numbers; they offer strategic advice. They help plan budgets, find savings, and prepare for risks. These insights give businesses confidence to make smart financial decisions for the future.
What’s Behind the Push to Outsource?
There is a big shortage of CPAs in the U.S. Most CPAs, about 75%, are close to retiring. Fewer students are studying accounting, and since 2010, the number of graduates has dropped by 20%. Also, fewer people are taking the CPA exam. 48,000 took it in 2016, but only 32,000 in 2021. Because of this, it’s harder and more expensive to find good accountants. That’s why many companies are choosing to outsource accounting work to get the help they need.
Outsourcing Is for Everyone, Not Big Companies. Years ago, only large corporations outsourced their accounting. But that’s changed. Now, startups, mid-sized businesses, and even solo entrepreneurs use outsourced finance teams. They do it to stay competitive, save time, and get expert financial advice without hiring full-time staff.
How Expertise Accelerated Can Help?
Expertise Accelerated provides secure, tailored tech solutions. We also offer outsourced accounting led by U.S. CPAs, with real-time reporting and up to 60% payroll savings. Plans start at $199/month for businesses of all sizes and industries. Get accurate, GAAP-compliant reports without in-house costs. U.S. time zone support, no long contracts. Book your free consultation today.
Conclusion
Outsourcing accounting aids businesses to save money, stay flexible, and grow with confidence. With expert support and innovative tools, it lets you concentrate on handling your business instead of managing complex financial tasks.
If hiring is costly or taxes and bookkeeping take too much time, outsourcing is a smart solution. You get professional help without the expense of a full-time team.
For better finances, outsourcing is an easy and efficient option.