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

Kyiv, the Ukrainian capital and largest city is one of the largest tech hubs in Eastern Europe and it also hosts offices of international corporations and numerous tech companies that provide workplaces and above-average salaries in the IT sector in Ukraine. 

Kyiv is also the home of more than half of all Ukrainian IT companies, which is an expected fact. With a significant number of international investors, Kyiv aims to draw attention to the local market, even more, prioritizing the development of the IT sector. 

The capital of Ukraine is also the home of over 41% of all existing developers in the country, or, at least it was until 2019. Also here, more than half of all senior developers live in Kyiv, which again confirms the strong commitment of the city to develop the local IT sector and become one of the leading BPO centers in Europe. 

Out of 50 top IT companies in Ukraine have their offices in Kyiv, and all of them have employed more than 23K professionals within the sector. Samsung, Siemens, Huawei, Oracle, Snap, Ubisoft, Netracker, and Terrasoft are only a few tech giants that have their offices in Kyiv, mainly due to the local talent pool and relatively cheap workforce, compared to other countries, especially to those located in Western Europe. 

The average worker in the IT sector is aged between 25-30 y.o.  And around  84% have higher education, which is an impressive indicator both for the city and for the entire Eastern European region. 

Related to how well are being paid IT professionals in Kyiv, we can share several figures from different sources: 

According to Echoua research, software engineers have an average salary of $2100/mo, while other specialists like QA specialists and IT Project Managers get around $1500/mo. 

 However, based on another report from glassdoor, a developer has a yearly salary of $100K, which is $8.3K/mo. And based on the information provided by payscale, the average salary of a software engineer is estimated to only $1691or 47.168 UAH/year. 

Overall, Kyiv remains the largest tech center in Ukraine, and it aims to become the most important in the region, competing with Warsaw and Bucharest. 

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.