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

Ireland has an international reputation as a center of excellence in IT. Both multinationals and home-grown talent contribute to making technology one of the fastest-growing industries in the country.

This makes Ireland the second largest exporter of computer and IT services in the world, with over 97% of domestic products sold in international markets. The sector accounts for over €50 billion of exports from Ireland each year.

900 software firms across Ireland employ more than 24,000 people in the IT sector.

Eight of the top 10 global IT companies have established a significant presence here. Giants established in Ireland include Intel, HP, IBM, Microsoft, Apple, Google, Facebook, Linked In, Amazon, Airbnb, PayPal, eBay, and Twitter.

At the same time, Ireland has the largest concentration of Top 10 tech companies outside the US. It can be considered the European capital of ICT. All of the top Cloud providers have data centers in Dublin, making it the most data-centric capital outside the US

Why you should work with Irish IT companies?

A well-developed IT infrastructure in Ireland is a key factor for Irish web and software companies’ success in the international market. This, combined with balanced government policies and advanced business culture made Irish IT companies reliable and granted multiple investments and clients. 

After Brexit, even more, companies relocated to Ireland seeking a “digital shelter” that would help them to benefit from EU fiscal facilities and accessibility to the European market. In this way, many International IT companies that were established in the UK now can be found in Ireland.

Also, the IDA has incredible support for international companies coming to Ireland. The favorable corporate Tax regime of 12.5% has led to all the major players having a significant presence in Ireland.

What to pay attention to when working with Irish IT companies

Since all advantages come with challenges, Ireland is not an exception. The increasing number of IT companies in Ireland can rapidly bring market saturation and even a deficit in the workforce. The presence of tech giants in the local IT market has been seen from the start as a danger to the pure-Irish business tradition, but on the other hand, this brings 9 figure digits to the budget each year from taxes only. 

The challenge for Irish IT companies and web agencies, but also for their clients results in the need of sourcing out talents from other countries that do not always provide the same quality services and do not benefit from a similar tech education and experience as originally Irish professionals do. 

How reliable are Irish IT companies

The Irish IT companies enjoy a solid reputation on the international web and software market and a high level of trust from foreign companies. Due to the presence of tech giants in the local market, and a traditional business culture Irish companies have made themselves a name and become competitive on the global IT market. 

How does the Irish IT industry relate to the neighboring countries?

The Irish IT sector has performed strongly compared to neighboring countries. Ireland has positioned itself as a leading destination for technology companies and has experienced significant growth in its IT sector over the years.

Compared to neighboring countries like the United Kingdom, France, and Germany, Ireland has been successful in attracting multinational tech companies, including major players such as Google, Facebook, and Microsoft, to establish their European headquarters or regional offices in the country. Dublin, in particular, has emerged as a prominent tech hub and has been dubbed the “Silicon Docks” due to the concentration of tech companies in the area.

Ireland's favorable business environment, low corporate tax rate, skilled workforce, and supportive government policies have contributed to its success in the IT sector. The country has invested in education and training programs to develop a highly skilled workforce in areas such as software development, data analytics, and cybersecurity.

Furthermore, Ireland's membership in the European Union provides access to a vast market and facilitates trade and collaboration with neighboring countries. The country's strong connections with the United States, particularly in the field of technology, have also been beneficial for its IT sector.

While other neighboring countries also have well-developed IT sectors, Ireland's focus on creating a favorable business environment, fostering innovation, and attracting international investment has helped it perform well in comparison. However, it is important to note that each country has its unique strengths and specialities in the IT sector, and competition and collaboration between these countries contribute to the overall growth and advancement of the industry in the region.

Dublin and Cork - The Best Places for IT in Ireland

According to Peter Lawless from 3R SEO Consultants Dublin, the best places for doing IT in Ireland are Dublin due to its booming Fibre infrastructure for Data centers and development and Cork as the site of Apple manufacturing. 

Dublin and Cork are ideal locations for IT business in Ireland due to their robust technological infrastructure, skilled workforce, established IT ecosystems, favorable business environment, market access, and high quality of life. These cities offer reliable internet connectivity, a talented pool of IT professionals, a thriving tech community, government support, access to global markets, and a great living environment. Dublin, as the capital, serves as a global tech hub, while Cork provides proximity to European markets and is growing as a tech and innovation center. Together, these factors create a conducive environment for IT companies to thrive in these cities.

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.