There are 1 Companies in Finland
that provide Finance & Accounting Outsourcing (FAO) Services!

Finland’s IT sector is one of the most advanced in Europe and the second-largest IT hub in North-Europe. The country has been through a strong digitalization process in the early 2000’ and skilled specialists are more and more attracted to discover the digital and tech possibilities the country has to offer. 

Among other things, Finland ranked 1st globally in the happiness index 4 years in a row, which gives another reason for skilled IT specialists to enter the local market, and the native Finnish professionals to remain and continue to develop the country IT and the entire business ecosystem. 

Finland’s contribution to the world digitalization is huge - they brought the SMS, 5G, and Linux OS. This highlights, even more, the capabilities of Finnish tech workers in the field. 

Why working with Finnish IT companies

Finnish IT companies made their way through the European IT market in 2008-2010 but at that time the market only started to grow and didn’t provide enough possibilities to Finnish companies in getting a world-name. However, in 2015’ IT companies from Finland managed to break the market with improved UI/UX solutions, high performance in software and web development, and also numerous startup incubators that relaunched the country’s IT sector and made it one of the most famous in the world. 

From Finnish IT companies and digital agencies, you can expect everything between excellent and outstanding services. The 3400+ IT companies provide high-quality services for the local market via public-private partnerships, and for the international market via BPO, and direct services due to the open European Market. 

Most Finnish IT companies are SME’s which are supported and facilitated by the government and local policies. In Finland, companies usually join IT parks and tech communities that help businesses find and benefit from local digital services. 

What you should be aware of when working with Finnish IT companies

According to Glassdoor, the average salary in the Finnish IT sector is 3.055 Euro, which also makes it higher than the average salary and as well hourly rate. In these regards, you may want to pay attention to prices before working with a digital agency from Finland. 

Everything else from project management and dev skills should not be a reason for concern since Finnish skilled workers are enough, and everywhere in the local companies. 

Are Finnish companies reliable?

The most known thing about Finnish IT companies is high-quality services and products. This is why reliability is not a question for local digital agencies and companies from Finland. Also, due to market stability and reliability, foreign investors and IT companies are choosing Finland as their next location for new offices. 

How does the Finnish IT sector relate to the neighboring countries?

Across Europe, there are traditional IT sectors and more innovative ones. Finland focuses more on innovation and tries to bring digitalization in new sectors of the economy. There are eight pillars of Finnish digital economy, and all of them connect each part of the economy and society to the web: 

• Digital Trust

• AI

• Intelligent Connectivity

• New Space Economy

• Smart Mobility

• Data Centers

• Retail Tech and Ecommerce

• Financial Technology. 

Some of these pillars are present in the traditional IT sectors such as FinTech, E-commerce, and Data Centers. The neighboring Sweden for example focuses more on e-commerce and FinTech but lacks other digital directions that Finland has. 

The latest Finnish sector that goes through digital transformation is the medical one. Finnish digital agencies and IT companies focus now on providing a comfortable place for doctors and patients using digital technologies. This comfort touches aspects like interior design, acoustic, access to information, entertainment and expands up to neural networks and involving AI in the surgery processes.

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.