There are 15 Companies in Dubai
that provide Finance & Accounting Outsourcing (FAO) Services!

Among other attractions, Dubai is also well known as one of the world’s leading IT and tech cities. The luxurious lifestyle, beautiful architecture, and modern technologies attracted in the last decade thousands of IT companies and investors that contribute to the city’s digital transformation.  Considered one of the most innovative cities. Dubai aims to become the world’s tech leader and becoming an example of how society and technology can live together and interact with each other. 

By 2020, the city already had invested in technology and IT more than $20B, which surpasses many European capitals and even most of the cities in the US or Canada. According to His Highness  Sheikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and the Ruler of Dubai, smart technology is a catalyst for happiness. Through the widespread adoption of technologies such as the Internet of Things (IoT), the blockchain, data analytics, Hyperloop technology, commercial 3D printing, robotics, and artificial intelligence (AI), the government of Dubai is aiming to make the lives of its residents convenient and less stressful.

In addition, the local government invests continuously in the creative industry and supports the development of IT companies as well as web agencies and startups. The last ones can find support in a number of IT accelerators, incubators, and partnership programs such as Dubai Smart City Accelerator, Turn8, impact Hub, in5, and others. 

When it comes to the average salary of an IT professional in Dubai, according to glassdoor, it is estimated at $120/year, or $10K/month. It is probably one of the highest in the region, and it only competes with the ones from Cairo and Abu Dhabi. 

Overall, Dubai is a leading tech city in the world with real potential to surpass many EU and US cities, based on KPIs such as economic development, investments, and infrastructure.

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.