There are 6 Companies in Chennai
that provide Finance & Accounting Outsourcing (FAO) Services!

Chennai is the second-largest software exporter in India, straight after Bengaluru, and also, is the home to many global tech giants, such as Verizon, eBay, PayPal. Why did such big companies decide to open offices in Chennai?! Simply because is the biggest startup incubator in India, and probably the place where most of the local professionals are attracted to. 

Of course, Chennai is far behind Mumbai; New Delhi, and Bengaluru when it comes to profit, but this is because most of the tech and IT businesses start in Chennai, but continue to grow and develop in Bengaluru, Mumbai, and other metropolitan cities.

Chennai is also a place where you can find plenty of SaaS companies - around 600, which engage in the system around 15,000 workers and has a yearly revenue of $1 billion USD, out of which $500 million were from funding only. 

The transformation of Chennai is more surprising since it was for a very long time a manufacturing center, also called by many the Detroit of India. And the effort for the digital transformation of Chennai only was huge, but it was worth it. 

According to data from Venture Intelligence, Chennai has become India’s fourth most active startup ecosystem, ahead of Hyderabad and Pune, and above all the city area is cheaper than other startup and tech hubs from India. But the wages are also lower - according to Glassdoor, the average yearly wage of a developer in Chennai is $7000+ USD, several times lower than Bengaluru for example. 

In case you are interested in working with IT companies based in Chennai, it’s good to know that you can choose out of 4000+ professional teams the one that suits you more, and here on TechBehemoths you can find the best of them

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.