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

Kolkata is the largest city in the West Bengal region in India and is considered the most competitive one in the IT sector with Bangladesh. The main reason - it’s physically closer than any other city. 

Discover Top IT Companies in Kolkata specialized in Finance & Accounting Outsourcing (FAO) including bookkeeping, credit control, accounting, financial consulting and more.

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.

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Explore Top Finance & Accounting Outsourcing (FAO) Companies in Kolkata

We found 1 company. Last updated in: May, 2024

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The ICT Sector In Kolkata: Tech Overview

Kolkata is the largest city in the West Bengal region in India and is considered the most competitive one in the IT sector with Bangladesh. The main reason - it’s physically closer than any other city. 

The region includes more than 900 IT companies with 145,000 employees, and 70% of them can be found in the city of Kolkata, which confirms again the strategic importance of the city in the country and region’s IT industry. 

Since early 2010’ Kolkata managed to grow fast and attract huge tech players such as IBM, TCS, PwC, British Telecom, and Ericsson, which in their turn invested and developed the IT infrastructure, hiring most of the youth workers that are nowadays enrolled in the system. 

The dominant services in the IT industry in Kolkata include software development, product development and consulting, big data analytics, and system integration but also digitalization of other services such as healthcare, architecture, and banking systems also enjoy a market demand. 

From hardware manufacturers, SME’s like Sonodyne, Videocon, Vikram Solar, Websol Energy, is among the top players in the tech industry as well. 

The region also has 15 IT parks, created to stimulate the development of the entire industry and boost the regional economy and competitiveness. And on top of everything, the Kalyani institute is the main core of future tech workers. 

However, Kolkata still remains one of the least paid cities in the IT industry, with a yearly average estimated at $3600-4500 USD. Yet, this is one of the reasons why big companies invest in this place, and also why IT products and services developed by Kolkata-based IT companies are cheaper than other tech hubs from India. 

In case you are searching for an IT company from Kolkata to work with, on Tech Behemoths, you can find the most active ones, who perform above-average

What is Finance & Accounting Outsourcing (FAO) and what are its benefits for your projects?

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.