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

Dhaka, the capital of Bangladesh started its journey in the IT industry back in the 1990s, at the same time with the BPO boom in the region and since then, the city has started to relaunch its economy and refocus on the IT sector more than on any other industries.  At the same time, Bangladesh has founded an association that is in charge of the IT BPO processes and creates a window for all other IT companies in the city that are able and willing to export their services in the west. 

Even if Dhaka is somehow shadowed by many Indian cities in terms of IT services, when it comes to IT infrastructure things are better, and Dhaka - the leading city of Bangladesh is one of the largest software exporters in the region. 

On top of that, Dhaka’s human resources are considered one of the largest in the world, with high development potential. Over 45% of its population are youngsters under 25, which under a proper education and training can become talented developers, designers, marketers, and overall highly qualified IT professionals. 

Another important fact about Dhaka companies is the pricing for IT & software services. So, from the top 250 IT locations in the world, Dhaka is relatively cheap compared to the neighboring competitive cities. According to a study published by Everest Group operative costs in Dhaka are 16 to 20% cheaper than in Bangalore, India,  and 30% cheaper than in Cebu, Philippines. This makes Dhaka a potential leading city in attracting investments into the BPO industry. 

When it comes to the salary range in Dhaka, the average base pay of a Java Developer is estimated to be 3505 Euros/Year.  Compared to Bangalore ( 5500 Eur/year) and Cebu ( 6670 Eur/year), Dhaka developers are cheaper, but not less professional, since the IT and software development studies are in top preferences of youngsters, which receive a relatively good education in the system. 

Dhaka has also a number of accelerators, incubators, partnership programs, and associations in the IT industry, that are meant to consolidate the position of companies regionally and stimulate their development.  Ygap, F6S, YSI Bangladesh, and Startup Dhaka are only a few to name among the top such programs located there. 

All in all, Dhaka is a continuously growing city that has high regional potential that could become in the long run a competitive tech hub. It all depends on investments, government, and innovation

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.