There are 2 Companies in Calgary
that provide Finance & Accounting Outsourcing (FAO) Services!

Calgary is one of the fastest-growing tech centers in Canada and considered to be the most adventurous tech city. If you think Calgary is only about skies, mountains, and energy - you are partially right. The city’s main focus in the 21st century is the IT and Tech scene. Now, what we thought Calgary was, evolved into an energetic, digitalized city where businesses are taking risks, develop, innovate and fund new startups. 

Calgary has a strong entrepreneurial ecosystem, consolidated by companies and investments that permanently create and innovate digitally.  This fact is also confirmed by numbers - Calgary has one of the highest concentrations of small businesses in North America. The city is the home of 60%+ companies in the Alberta region and all of them were only small startups several years ago.

In addition to all, the local startups that are actually constantly growing, have managed to attract a high number of funds, support, and attention from international big actors who see a high development potential in the city. 

From software to hardware to services, digital transformation is a driver of tech investments by Calgary industries. A study by Calgary Economic Development and IDC Canada forecasts that Calgary companies will lead the $18.4 billion spent on digital transformation in Alberta through 2022.

In 2020 there were 270 startups all around the city across different industries that will grow into strong businesses due to a healthy infrastructure, highly-qualified professionals and constantly increasing wages that attract talents from all over the region, including from the US. 

The average salary in Calgary for the IT sector is somehow comparable to the one from Montreal - $49K vs $45K. However, according to another resource the average salary is estimated at around $66K/year. 

All in all, Calgary is a promising place for searching and/or investing in digital projects, and it is only a matter of time since it will become one of the leading cities in the region, according to our estimations. 

Finance & Accounting Outsourcing services involve partnering with specialized IT companies to delegate financial and accounting functions, allowing businesses to focus on their core competencies. These services encompass a range of offerings such as bookkeeping, payroll processing, tax preparation, and financial accounting providing comprehensive support for commercial development.

According to Grandview research, the global finance and accounting business process outsourcing market was valued at USD 56.42 billion in 2022 and is expected to expand at a compound annual growth rate (CAGR) of 9.1% from 2023 to 2030.

If you decide to team up with a specialized IT company for their Finance & Accounting Outsourcing needs, here’s a list of benefits you might be interested in:

• Cost Savings: Outsourcing financial functions eliminates the need for hiring and training in-house staff, reducing overhead costs and achieving operational efficiency.
• Expertise and Knowledge: Specialized IT companies provide access to a team of skilled professionals with extensive experience in financial management and accounting practices.
• Compliance and Accuracy: Outsourcing financial tasks ensures compliance with regulatory requirements and accounting standards, minimizing the risk of errors and penalties.
• Scalability and Flexibility: Finance & Accounting Outsourcing services can easily scale up or down based on business needs, adapting to changing requirements.
• Focus on Core Competencies: By delegating financial functions, businesses can allocate their time and resources to strategic initiatives, innovation, and business growth.

At the same time, it’s important to choose the right service provider for your needs and requirements. That’s why when choosing a Finance & Accounting Outsourcing provider for a project,  we recommend you to consider the following criteria:

• Industry Expertise: Look for providers with experience in serving businesses in your industry, as they will better understand your specific financial needs and regulatory requirements, taking a look at the year when the company was founded, or, the number of real customers can be a good starting point to track their expertise.
• Service Offerings: Assess the range of services offered by the provider to ensure they align with your organization's financial requirements, such as bookkeeping, tax preparation, financial analysis, or payroll processing.
• Security and Confidentiality: Verify that the provider has robust security measures in place to safeguard your financial data and ensure confidentiality.
• Technology and Infrastructure: Evaluate the provider's technological capabilities, such as accounting software proficiency and infrastructure, to ensure efficient and accurate financial management.
• Client References: Seek references and review feedback from past or current clients to gauge the provider's reliability, responsiveness, and quality of services.

TechBehemoths can assist in choosing the best Finance & Accounting Outsourcing companies for your projects. With a comprehensive directory of over 160 companies offering Finance & Accounting Outsourcing services, TechBehemoths.com simplifies the selection process. At the same time, you should keep in mind that this is an outsourcing service, which means that by contracting a company providing this service, it is possible to lose the location comfort in exchange for a lower price offer.