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

By 2025, Indonesia’s digital economy is expected to contribute USD 150 billion to the GDP. To achieve the target, the Indonesian government is currently implementing a massive infrastructure development. 

 As part of the digital transformation, the government has launched several national programs among others are Go Digital Vision 2020, e-smart IKM, and 100 Smart City Movement. These programs aim to develop local startups, support small to medium enterprises (SMEs) as well as to prepare and embrace the internet of things (IoT).

Why working with Indonesian IT companies

What makes Indonesian IT companies and web agencies attractive is the way how young professionals have managed to adapt to new technologies and implement global business trends in their own business model. 

Currently, updating the company’s system is one of the factors that influence the success of a business. The more sophisticated the company’s technology, the easier the transaction process and faster time of its request process. This has an attraction that has become a trend in the Indonesian market nowadays.

What you should pay attention to when working with Indonesian IT companies

Even though the government invests in skilled professionals and the development of IT education, most of the IT companies and creative agencies from Indonesia lack experience and are predisposed to inefficient communication and project management. This can be challenging for potential foreign customers of the sector, but nonetheless, it contributes to the development of the Indonesian business environment.

How reliable are Indonesian IT companies

Despite e-commerce and fintech developments, Indonesia had the highest percentage of Cybercrime of a malware attack in the world (China was second with 21.26 percent). Malware is a particular problem in Indonesia along with spam and other types of email-based scams. But what Indonesian IT companies made, was transforming the challenge into opportunities, and developed the cybersecurity infrastructure, making the country well-known on the global stage as a trustworthy source of professionals and companies that can handle this type of threat according to Visiglobal online portal.

How does the Indonesian IT infrastructure relate to the region?

According to the Swiss Global Enterprise report from 2019, most of the contributors to Indonesia’s ICT import are from China and the ASEAN neighbors. Indonesia has received foreign investments and witnessed several joint ventures between foreign and local companies.

However, based on another report from the Australian Trade Commission, the Indonesian ICT market features intense competition from Korean, Chinese and the United States, players

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.