There are 1 Companies in Moldova
that provide Accounting Services!

Moldova is a small country located in the Eastern European region, with a population estimated around 2,9 million people. Now, that we made this clear, it’s time to talk about it’s IT industry and tech development the country reached by 2020. 

According to the latest statistics that date from 2019, the country has tripled its income from IT services and products in the period 2015-2019. So, from ~1 million Euros in 2015, the income of local IT companies has increased up to ~3 million Euros in 2019. How is this possible, you would ask. There are countries with way more developed IT industry and a larger population that register fewer numbers. 

It’s simple. The number of IT companies located in Moldova has increased as well, and now, in 2020, such a small country has 2300 IT companies that mostly export their services and digital products in central and western Europe. The relatively cheap workforce which is at the same time average qualified with linguistic skills is probably the most attractive and demanded in Europe. Speaking of languages, almost every youngster aged between 18-35 knows at least two languages: Romanian and Russian. In addition, English is extremely popular and well assimilated by the local population. 

But of course, there are more reasons why you should work with a Moldovan IT company. 

Why you should work with a Moldovan IT company

The positive evolution of the Moldovan IT industry has also increased the visibility of local companies that create and develop digital products both for internal and external markets. Initially focused on outsourcing, Moldova has grown its startup base with multiple accelerator programs, and incubators that are focused on the digital. 

Now, you can meet Moldovan IT companies, and digital agencies all over the world, especially in western Europe, where some of them reached the top niche. 

The transformation from agriculture to digital in Moldova is visible, and many young professionals are opting for a career in the digital network. In this way, companies here have plentiful resources for creating and developing more and more IT companies. 

Another reason for working with Moldovan IT companies is the cheap prices for the quality of their digital services. The yearly average wage of a web developer in Moldova is estimated to be $14,800 

What to be aware of when working with a Moldovan IT company

Professional services, low prices, and a large talent pool - all these combined make Moldova probably one of the best places to work with an IT company or a web agency in Europe. But, of course, there is more to it. 

Moldova’s IT industry is still in a development phase that requires resources and attention. While the European IT market is overwhelmed with companies - it seems there is not much room left after all, and many companies are not so well-known or don’t have enough visibility. 

In addition to that, a potential client should as well pay attention to a company’s portfolio, experience, number of employees, and hourly rate - just like in any other country, there are companies that perform outstanding and charge respectively, but as well companies that just have started their road and are probable inappropriate for big projects. 

How reliable are Moldovan IT companies

In terms of reliability, Moldovan IT companies are generally fair, or at least reviews from real clients say so. However, project delivery delays are expectable. In contrast with professional services, it should not be a problem though, since the extra time a client has to wait is worth it. Not to mention that in western Europe and the US, web agencies and software companies also take their time in most cases to deliver a digital service or product. 

How does the Moldovan IT industry relate to the neighboring countries?

With Ukraine and Romania as neighboring countries, Moldova is already out of the competition in terms of IT infrastructure. However, the field of Information and Communication doesn’t know physical boundaries and local software companies don’t seem to have problems with finding new partnerships and contracts. 

The government supporting policies is also a helping hand for the industry’s development - there are two IT parks already, that charge 0% VAT for employees and only 7% for companies. This stimulates companies and professionals to choose a career in IT and develop the industry. 

Accounting Service refers to professional assistance from qualified accountants or accounting firms in managing your business financial records, reporting, and analysis. 

This service includes finance & accounting outsourcing (fao), financial accounting, forensic accounting, management accounting, etc. 

It is like having a trusted partner who handles your financial matters, records income, and expenses, and prepares financial reports to provide a clear picture of your business's financial statement. It also provides financial analysis and strategic advice to improve your business's performance.

In a survey conducted by the Association of Chartered Certified Accountants (ACCA), 84% of businesses believed that professional accountants play a crucial role in decision-making processes.

But why, accounting services are so important and defining? 

• First of all, they bring financial transparency; with accurate and transparent financial reporting, it is easier to make well-informed decisions about business. 

• In addition, it keeps your business on the right side of the law by ensuring compliance with accounting standards and tax regulations.

• Accounting services also have an important role in financial planning. Accountants help you create budgets, forecast future financial scenarios, and guide you on how to allocate your resources effectively. They're like financial navigators, steering you in the right direction to achieve your business goals.

When it comes to choosing an accounting company, there are a few things to consider. 

• Look for their expertise and specialization.
• Look for qualifications and certifications (CPA, CA).
• Check their reputation and track record of satisfied clients.
• Check out the range of services they offer to ensure they can handle your requirements.
• Technology is another aspect to look into. Advanced tools and software can streamline your financial processes, making everything more efficient and accurate.
• Don't forget about communication and support. An accounting company should be responsive and accessible.
• Last but not least, consider the cost and the quality of their services.

Choosing the right accounting company is a big decision, but following these tips, you'll find the one which will take care of your financial issues.

There are more than 209 companies on our platform that offer a wide variety of accounting services. Explore their detailed profiles, and client reviews, and feel free to get in touch with them.

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