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

Spain is one of the most important ICT markets in Europe, in terms of volume. In 2019, the net worth of the entire sector was estimated at around $108 bn. which makes it an important national economy pillar. 

According to a report from ICEX, there are more than 34,000 ICT companies in Spain that engage 550k+ workers in this field. 

Additionally, the gross added value at market prices represents 5,3% of Spain’s GDP in 2018, with growth from 4,3% in 2017. Due to its geographical location and favorable IT climate, the industry evolves with big steps, and sometimes it appears that overwhelms the infrastructure. 

Why you should work with a Spanish company

Spain is great for all types of IT professionals and companies - from digital nomads and startups, up to big corporations, you can find them all in Spain. The best part is that social education adds great value to digital business culture and develops the environment and industry making a great opportunity both for businesses and professionals. 

Another reason why Spanish IT companies are a good option is hourly rate and reliability. According to payscale, the average hourly rate of a developer is around 22 Euros, which is below the European average. Also, the good business tradition will ensure you a sufficient healthy experience with your projects. 

What you should be aware of when working with Spanish IT companies

Although it has known a huge growth in the sector, Spain has a shortage of qualified, experienced information technology (IT) professionals to meet the growing demand – especially in the major cities, which dominate the IT market in Spain. This means that together with great project experience, there is a risk of average project execution, in spite of having higher expectations. 

Are Spanish company reliable? 

In terms of reliability, Spain has never been the top leading country, but also not the last. Due to social culture, it is known that Spanish companies like to bargain and negotiate the prices & services. While some may find this frustrating, most of the businesses like this feature, as it’s one of the business fundamental practices.

How Spanish IT industry relates to the neighboring countries

With all IT industry growth, Spain has registered in the last few years, the country competes with France, which has also managed to score impressive numbers in the IT sector. However, the markets are slightly different for both of them, including but not limited to linguistic differences. Probably, the case of Spain and France are two extremely important cases where culture crosses the IT industry. 

Overall, Spain has managed to keep the IT industry grow even with the human resources challenges that are facing. And it is expected in the next years that the regional IT competition will lead to surprise evolution and increased attractiveness to potential clients. 

Most of the Spanish IT companies are already registered on TechBehemoths and can be found on their dedicated page. Feel free to contact any web agency, IT firm or software company you consider that can help your project

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.