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

Sharjah is also one of the largest tech hubs in the Emirates with an increasing number of IT companies located there. Out of 150+ known companies, 25+ are also registered on TechBehemoths and are focused mainly on web design, development, and application management. 

One of the biggest stimulants the city received in the field of IT, is the local IT park - Sharjah Research Technology and Innovation Park that gathers all professional resources in this field. Its main priority is to increase the added value of local IT companies and web agencies and facilitate the digital transformation of the city as a whole, and of each company individually. 

Yet the city’s profile is far from being digital and focused totally on this sector. The IT sector is used more to develop other important fields and industries in the city and city area - fields that produce and attract more investments than the IT sector itself. On the other hand, the impact of IT companies and web agencies cannot be underestimated since it plays a vital role in digital transformation and the business environment. 

At this moment, there is no data about the average salary an IT professional gets in Sharjah, but based on our estimations it should be higher than $35K/year. The same statement is available for the number of incubators, accelerators, and startup programs in the city. However, there are 11 top accelerators in UAE that are probably funding and growing young businesses including in Sharjah. Among the most notable we can count Plug and Play FinTech Accelerator, FasterCapital, Middle East Venture Capital, and others. 

Based on the analysis of IT companies in Sharjah that are also registered on TechBehemoths, we can say that they definitely have a high potential to become top digital agencies and IT companies in UAE, and also in the region.

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.