Your Complete Guide to the Best Finance and Accounting Outsourcing Companies

As the finance and accounting outsourcing trend grows in popularity, you’d expect the standard to improve. Still, it’ll become easier to find unsuitable outsourcing companies.

At the end of this article, you will understand what a good outsourcing firm looks like. This knowledge will help you differentiate the great from the good (not to mention the bad) outsourcing firms.

What Is Finance and Accounting Outsourcing?

Finance and accounting outsourcing is the delegation of some of your firm’s finance and accounting services to a third-party service provider.

Companies do this to buy back time to channel their resources where they prefer, instead of trying to do everything internally.

 

Differences between outsourcing, offshoring, and shared services

Outsourcing: Outsourcing allows you to contract a third-party team of accounting professionals to handle some of your processes or tasks.

To ensure value for your money, you’ll have to define expectations for the outsourcing partner, which may be located abroad or in the same country.

Offshoring: With offshoring, you also delegate your services to another firm, but this firm is located in another country.

This is usually done to take advantage of lower labor costs abroad (think India). You can either offshore to an existing firm in another country or build a subsidiary in another country.

Shared Services: In a shared services model, an organization’s finance and accounting department serves multiple units or departments in the organization.

The service provider in shared services is not a third-party firm like in an outsourcing relationship. It is fully owned and controlled by the organization.

Top Benefits of Finance and Accounting Outsourcing for Modern Firms

• Cost Savings: Cost is the primary motivation for 59% of outsourced finance and accounting services because it reduces salary budgets.
• Efficiency: About 24% of accounting business owners admit to outsourcing their services to improve efficiency by using external expertise.
• Scale: Outsourcing allows firm owners to find more talent to take on more clients and grow their firms.

Top Countries for Finance and Accounting Outsourcing: India vs. Philippines

• Cost

India: Thanks to lower cost of living and differences in currencies, labor costs in India are as low as $5-$15 per hour for outsourced finance and accounting services, depending on the complexity of the task and expertise required.

 

Philippines: In the Philippines, labor costs are slightly higher. Outsourced finance and accounting services are accessible at $7-$20 per hour, depending on the complexity of the task and the expertise required.

• Talent Pool

India: With 400,000 CAs, which are equivalent to CPAs, India is full of BPO professionals trained in global accounting standards (GAAP, IFRS, IRS), advanced accounting technology (QuickBooks, NetSuite, SAP, etc..), and complex accounting tasks.

 

The Indian outsourcing workforce is more skilled in technical and analytical processes, making them highly suited to financial reporting, tax preparation, and other finance and accounting tasks.

 

Philippines: The finance and outsourcing talent pool in the Philippines is smaller in volume and less advanced in technical expertise and technological capabilities than that of India. Still, the 200,000 finance and accounting professionals make the Philippines a great place to outsource your accounting services.

 

However, the Philippines’ BPO professionals are more specialized in communication and client-facing roles (customer support, call center, etc.).

 

Time Zone Benefits

India: The Indian time zone (UTC+5:30) is about 4.5 hours ahead of the European time zone and about 9-10 hours ahead of the US.

This gives firms in Western markets the advantage of overnight service. Tasks assigned in their business day get completed by the next morning.

Philippines: The Philippines’ time zone (UTC+8) aligns with businesses in Australia, but is less aligned with European businesses. It is (12-13 hours ahead of the US, which enables US firms to provide 24/7 client service.

 

Security

India: Reputable outsourcing firms in India invest in specialized offshoring centers that comply with India data regulation frameworks like the DPDP Act 2023, IT Act, and SPDI Rules. These regulations comply with data privacy and security standards and certifications like GDPR, ISO 2700, and SOC II.

That is why global finance and accounting firms like Deloitte are rushing to India for their outsourcing solutions.

Philippines: The Philippines also has a BPO industry that ensures data security with regulations like the Data Privacy Act of 2012, which aligns with global standards like GDPR and ISO.

Government interventions through the Philippine Economic Zone Authority (PEZA) have also made it a secure environment for global brands like Amazon.

 

Language Fluency

 

India: As the second-largest English-speaking country in the world, business and education are conducted in English, enabling Indian finance and accounting professionals to communicate numbers and technical concepts fluently.

 

Philippines: The Philippines is culturally linked with the United States, and it shows in the fluency of their English language communication. Their 92.5% proficiency rate and neutral accent make them ideal for client-facing roles, such as communication and client support.

What Services Do Outsourced Finance and Accounting Companies Offer?

Bookkeeping

Outsourced finance and accounting companies understand what it takes to ensure accurate financial reporting and compliance by recording and organizing sales, purchases, receipts, and payments information.

 

Accounts Payable/Accounts Receivable(AP/AR)

Finance and Accounting outsourcing firms are also skilled in ensuring the timely payment of the money your client owes (Accounts Payable). They also understand the techniques to help clients collect what they are owed to maximize vendor relationships and facilitate positive cash flow.

 

CFO Services

Apart from lower-level accounting and bookkeeping tasks, outsourced accounting professionals have the expertise to provide strategic financial leadership through financial planning, analysis, and decision-making.

 

Payroll

With knowledge of global payroll regulations, your outsourcing partner can help your clients calculate wages, taxes, and manage employee compensation in compliance with relevant labor and tax laws.

 

Tax Preparation

Reputable outsourcing companies (especially those in India) use CPAs, who are knowledgeable and up-to-date with global tax laws (like IRS regulations). 

This enables them to prepare and file tax returns for individuals, businesses, or organizations, ensuring compliance with tax laws and maximizing deductions.

 

Financial Reporting

You can also outsource the preparation of detailed financial statements and reports to provide your clients with the insights they need to meet regulatory or stakeholder requirements.

 

How Much Does It Cost to Hire a Finance and Accounting Outsourcing Company?

Average rates (India vs. US vs. Philippines)

India: Finsmart Accounting’s rates are $2600/month for a dedicated professional with 160 hours of work per month. Its hourly rate is $20 per hour. Check its pricing page for more information.

Philippines: In the Philippines, monthly rates are accessible at $3,500. Hourly rates are $25/hour.

United States: You need around $5,000 to get accounting professionals, and hourly rates are available at $36/hour.

 

Factors affecting pricing

• Service Type

Since the complexity of a service determines the level of training and expertise required to complete it, it is only natural that the depth of work your service requires determines the amount you pay for it.

 

• Service Level Agreements (SLAs)

Similarly, the scope and conditions of your service will determine the time and other resources required to complete it.

The longer a project takes and the expertise required, the higher the cost of outsourcing it.

• Compliance

Your client’s compliance needs are another factor. Industries like software-as-a-service (SaaS) require mastery of revenue recognition and deferred payment, which can make financial reporting more difficult (and prices higher) than other industries.

 

Top 10 Finance and Accounting Outsourcing Companies in 2025

• Finsmart Accounting

Finsmart Accounting provides outsourced finance and accounting services to accounting firms, CPAs, CFOs, and multinational corporations (MNCs) in the US, UK, Australia, Etc.

Its accounting experts combine AI technology with human judgment to ensure client satisfaction through timely (and accurate) service delivery and attention to detail.

Its services include bookkeeping, AR/AP, payroll, tax planning and preparation, audit support, virtual CFO, NetSuite-driven automation, and financial reporting.

 

“The Sales Tax report is done quarterly, requiring a complex pivot table and great attention to detail. Your team executed this with excellence, saving me significant time. I was very impressed with the work and the overall results.”

Nikki, Thrive Business Services

• InDinero

InDinero provides Bookkeeping, AR/AP, payroll, CFO advisory, business tax, technology implementation, and business intelligence services to clients in Tech, professional services, nonprofits, e-commerce, and healthcare businesses.

 

“The team is incredibly knowledgeable & responsive. They have streamlined our complete accounting, booking, and tax-filing process, allowing us to have a lean finance team and focus on the core part of our business. Furthermore, the team understands the cross-country accounting rules that only a handful of firms do. They help us sleep well at night, knowing that the accounting part of the organization is under control.”

Kishan Gupta, CEO of UXCam

• QX Global Group

QX Global Group is a finance, recruitment, and accounting outsourcing company that seeks to

transform business operations to enable firm owners in the UK, US, Canada & Australia to become more profitable, efficient, and competitive.

 

Its clients include businesses in manufacturing, restaurants, CPG, retail, etc.

• Connext Global Solutions

Connext helps firms find accounting talent to grow their custom offshore support teams, improve productivity, and streamline costs.

Beyond accounting firms, Connext Global also serves customer services, marketing, and healthcare.

“I’ve worked with several accounting support teams in the Philippines at my previous workplace, and I can wholeheartedly say that you folks are the best I’ve ever worked with.”

Alison Inafuku, Accounting Manager, Tony Hawaii Automotive Group

 

• CapActix

CapActix helps firms reduce staff & overhead costs with our offshore staffing solutions. It’s flexible Hiring Models for Accounting to elevate their competence, relieve stress, and improve their revenues.

 

Its finance and accounting talents provide accounting, bookkeeping, AP/AR, QuickBooks, and tax preparation services to businesses in agriculture, hotels and restaurants, retail, and E-Commerce etc.

• Outsourced Bookkeeping

Outsourced Bookkeeping saves business owners the stress of monotonous accounting services, allowing them to deploy their resources where they’ll make the most profits.

They serve both accountants and non-accountants, including legal, marketing,  and restaurant businesses.

“Sunil is a strong accountant with high integrity. I have worked with Sunil for seven years, and during this time, he has provided high-quality work ranging from bookkeeping to tax returns and financial spreadsheets. Sunil is a pleasure to work with and always delivers a good product on time. Highly recommended.”

Simon Frost, CEO & Co-Founder of Tiber Capital Group

 

• RSM Global

RSM Global is a network of assurance, tax, and consulting experts that tailor their skills, insights, and resources, as well as a client-centric approach based on a deep understanding of your business needs.

Beyond finance and accounting services, RSM’s professionals also provide digital, legal, and environmental sustainability services.

 

• Unison Globus

Unison Globus seeks to help accounting firms, CPAs, and EAs focus on client relationships and firm growth while we manage your accounting and tax back office.

 

Its virtual accounting workforce seeks to be an extension of accounting firms by building trust, empathy, and connections through professionalism.

 

“Working with Unison Globus has been the most rewarding experience I’ve encountered with an international team. The remote accountant I collaborated with blends effortlessly into our firm, truly becoming part of the team.”

Snehal Patel, Accountant –Tax & Business Solutions

• Ignite Spot

Ignite Spot provides expertise that elevates businesses and helps the owners reduce costs and cut risks.

Ignite Spot provides its services to accountants and non-accountants alike, including fashion. Healthcare and marketing.

“I love Ignite Spot. I’ve been with them for a while now, and they’re awesome. They organize my financial information, so I can make better decisions for my business. I work with Tom and Guy for bookkeeping and John for tax services. Holly also checks in with me on a quarterly basis to make sure I’m satisfied with their services. My experience so far has been 5-star quality.”

Sean Smith, CEO, Jungle Hustle

• Near

Near eases the process of finding and hiring outsourced finance and accounting professionals to help manage your workload and keep operational costs low.

Its target industry cuts across sales, customer support, and engineering.

“Near’s team gave us confidence that we’d hire great talent quickly. They did a deep dive into our requirements, asked the right questions, and communicated our needs and goals back to us. They advised us on compensation, different talent markets, and our hiring process.”

Anton Lipkanou, President, Delve

Key Questions to Ask When Hiring a Finance and Accounting Outsourcing Firm

• Due Diligence Checklist

A due diligence checklist gives you structured criteria to qualify potential outsourcing partners.

The checklist should include understanding the company’s:

Background and Reputation: The longer they’ve been in existence, the higher their chances of meeting your outsourcing needs (if they serve your client’s industry).

You should also ask for references from their past clients and check for independent reviews on sites like Clutch and Glassdoor.

Team Expertise and Capacity: This is where you find out how many finance and accounting employees they have and their qualifications. A reputable firm should include CPAs who are grounded in the financial reporting standards and tax regulations that matter to your clients.

Technology and Infrastructure: What tech tools do they use, and how proficient are they in those tools? You want to be sure they can work with the tools you already use.

Cost Transparency: Clear pricing information will protect you from hidden fees later on. With Finsmart Accounting, you’ll know (by looking at the pricing page what you need to pay per hour or month, depending on your chosen package.

• Security & Data Policies

Security and Compliance: Considering the sensitivity of accounting data, your outsourcing partner must have effective data protection policies and advanced security certifications that keep your client’s data safe in line with relevant regulatory frameworks.

Key certifications include ISO 27001, SOC 2, SOX, GDPR, etc.

“A reputable outsourcing firm should invest in a specialized offshoring Center with a lot of emphasis on data security. They should have protected servers, managed switches, and antivirus software.

They should also have certifications like ISO or SOC 2, etc. When you are evaluating a partner, ask for their security certifications to get a kind of assurance.”

Maanoj Shah, Offshore Accounting Expert and Co-founder of Finsmart Accounting

• Onboarding and Reporting Structure

Onboarding sets the tone for any business relationship, so it helps to understand how you’ll transition into a client.

When you have been successfully onboarded, ask about the reporting structure to understand the communication frequency you should expect.

Real-World Examples of Successful Finance Outsourcing

EXAMPLE 1: How Finsmart Enabled Account Ability Consulting to Tackle a Massive QuickBooks Cleanup

Susan Cook leads Account Ability Consulting, a firm that specializes in QuickBooks training, sales, and integrations.

 

When a client required a massive QuickBooks Online cleanup covering three years of financial data, Susan knew it was time to turn to Finsmart Accounting for this service.

 

Having received the data and other necessary information, the Finsmart Accounting team worked with Susan to figure out the most effective way to handle the project. This took roughly four stages:

• Dedicated Experts: Dedicated financial experts worked closely with Susan to ensure the cleanup followed her specific instructions.
• Detailed Tracking: Detailed spreadsheets and documentation ensured transparency in missing or corrected records.
• Regular Updates: Regular Zoom meetings and email updates provided clear visibility into progress and allowed for adjustments as needed.
• Efficient Execution: The project was completed efficiently, turning three years of financial disarray into a structured, reliable accounting.

 

At the end of the project, Susan’s client had accurate financial records to move the business forward confidently.

 

Here’s what Susan had to say:

 

“Finsmart was excellent at communicating and ensuring the work was done thoroughly. They provided spreadsheets, followed up diligently, and worked efficiently. If you have a financial project that needs attention, try it; you’ll find they are accommodating and reliable. You can feel confident that you’re in good hands.”

–Susan Cook, President, Account Ability Consulting

 

EXAMPLE 2: How Rapid Circle Streamlined Financials with Finsmart Accounting

Rapid Circle is a Global leader in Microsoft Cloud Solutions. When they faced the challenge of maintaining accurate financial records, which led to audit concerns and operational inefficiencies, Finsmart Accounting’s services came to the rescue.

Finsmart Accounting’s solution involved four phases:

• Discussion: We conducted stakeholder meetings to identify gaps and developed a customized plan for successful project execution.
• Process: We identified and corrected general ledger errors through reconciliation, processing adjustments to balance the books.
• Distribution: We developed a plan, assembled expert teams, and reconciled Rapid Circle’s balance sheet, verifying all assets and liabilities.
• In-Depth Cleanup: Following client consultation, we assessed PNL impact and cleaned up financial statements to ensure accuracy.
• Documentation: We provide ongoing financial maintenance, ensuring accurate and compliant records through regular documentation and reconciliation.

 

“We initially outsourced because we were small, but even as we grew, their (Finsmart Accounting) services were so reliable that we never felt the need to hire internally. Payroll on time, 100% accuracy, accounting with no faults, and never missed a date. From understanding international principles to handling complex structures,  it’s always a pleasure working with Finsmart.”

–Riya Chandan, Financial Analyst at Rapid Circle

Expert Tips to Maximize Your Outsourcing Relationship

Onboarding: Embed Your Outsourced Team Member to Increase Alignment

If you’re going to get the best out of your outsourcing partner, embed the outsourced professional, instead of treating them as a separate entity from your firm, recommends Maanoj Shah, F&A outsourcing expert and the co-founder of Finsmart Accounting.

 

“Offshoring is not about hiring external members. At Finsmart, it is about embedding the outsourcing company into your own. Since outsourcing gives you expert finance and accounting professionals, what you will need to focus on is seamlessly integrating them into your processes, tools, and software.

This will help them understand your best practices (your Dos and Don’ts), which will help to standardize your service delivery.”

Maanoj Shah, Offshore Accounting Expert and Co-founder of Finsmart Accounting

Tracking Metrics: Measure hours saved on routine tasks to focus on advisory and client acquisition

Getting these three metrics will help you understand how well your outsourcing relationship will support your growth.

Cost Savings: Operational cost is a primary reason for outsourcing your services. This will show you how much you have gained in labor costs, overhead expenses, etc.

Quality of Service: Outsourcing your services gives you access to qualified accountants. If your outsourcing partners are delivering quality service, you can confidently focus on strategic work.

Timeliness: The finance and accounting industry runs on deadlines. Quick turnaround time is crucial to keeping your clients compliant.

Using Finsmart Accounting has freed up my time to onboard new clients. I’ll keep assigning clients to them, so I can focus more on advisory and supervision, as opposed to the back-office operation of bookkeeping, which Finsmart does so well.

—Adrienne Dove, Founder, Corban Accounting Solutions

Communication Tools: Use secure, cloud-based tools for communication and reporting to ensure data protection

Collaborating by email is no longer sustainable as far as the security of client information is concerned. The risk of phishing and other forms of email fraud is more common today than before.

Fortunately, accounting client communication and collaboration tools are not in short supply. These tools are built with the security features finance and accounting professionals need to share files and information with their outsourcing partner.

For example, tools like Microsoft Exchange and Dropbox are built with encryption technology that renders information inaccessible to unauthorized persons.

Final Thoughts – Is Finance and Accounting Outsourcing Right for You?

Generally speaking, the finance and accounting outsourcing above are some of the best on the market, but they may not benefit your firm so much unless you understand why you need to outsource your services in the first place.

That is why we put this checklist together to help you get the most out of your outsourcing relationship.

Download it here to be clear when and how you can maximize third-party finance and accounting expertise for your firm.

Click Here to Book a Free Consultation with Our Outsourcing Expert Today.