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

Charlotte is the fastest-growing city in North Carolina and at the same time the most advanced tech hub in the state.  The friendly business environment and well-developed tech industry attracted a number of IT & tech giants, such as IBM, Lenovo, Google, and Citrix. 

The growth rate of the tech industry in Charlotte between 2013-2017 was 13%, and in 2019 the numbers grew up to 20%, according to EDPNC.

Based on data from the same source, Forbes ranked Charlotte the #2 tech hub in the country, mentioning that the younger generation of IT professionals prefers Charlotte to Silicon Valley due to low living costs and big job opportunities. 

Another interesting fact about Charlotte is that 36.5% of IT companies' CEOs are women, which is the highest indicator in the US. This is why working with Charlotte IT companies is probably an interesting experience, or at least a bit different from what you may find in other cities.

On the other hand, Charlotte generates on average 6,000+ IT professionals annually which makes the city a good destination for both IT companies and startups as well as potential clients. 

According to Forbes, Charlotte’s biggest industry is the Financial one, which managed to develop based on the IT sector. Now, Charlotte is considered one of the most digitalized cities in the country and a great opportunity for IT projects, including but not limited to lower costs of services.

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.