There are 4 Companies in New Jersey
that provide Finance & Accounting Outsourcing (FAO) Services!

New Jersey is one of the most popular IT destinations in the US for many IT companies due to a well-developed IT infrastructure and the number of tech giants that already invested in the area. 

Companies like AT&T, Verizon, SRI International, and DRS developed the business and IT environment in the city and contributed to what New Jersey is today - the second largest IT hub in the US, according to NJ.GOV. 

Additionally, what makes New Jersey attractive for IT companies is the tax exemption and funds for training young professionals, which somehow increases the chances of finding a great IT company for web and app projects. 

With all these important benefits in the IT industry, New Jersey has above 120+K professionals working in the IT sector, including web design and development, software development, app creation, and cybersecurity. 

All of the IT professionals engaged in this field are distributed to 3400 IT companies based in New Jersey according to the Statista report from 2020. 

The presence of a large number of IT companies in the area, made  New Jersey take a leading position in internet connectivity. In this way, nearly 99% of businesses can access wired broadband at speeds of 25 mbps or faster, and 96+% also have access to broadband 100 Mbps or faster. But the impact of the IT industry on New Jersey development doesn’t stop here:  New Jersey consistently is among the 5 best cities for educational excellence in CNBC’s annual Top cities for Business rankings.

New Jersey is one of the fastest-growing cities in the US, and IT has a huge role in its development. Based on the numbers revealed above, and the realities that facilitate the development of the IT sector, New Jersey is a promising destination for both IT companies and their potential customers.

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.