There are 51 Companies in the United Arab Emirates
that provide Finance & Accounting Outsourcing (FAO) Services!

The United Arab Emirates' IT infrastructure has known colossal progress since 2010, and the country is expected to become one of the leading tech giants in the world by 2025. Only in 2025, the revenue of the IT Services market in the UAE is predicted to reach $3.7 billion. The United Arab Emirates (UAE) has set a bold vision to become a leader in Artificial Intelligence (AI) by 2031, to enhance its technical development. Additionally, the UAE aspires to become a leader in tech advancements with tech cities like Dubai, Abu Dhabi, Sharjah, Al Ain, and Ajman. 

The hourly rate and the average salary of a UAE-based web developer reach $16.71 K/year and $8.03/hour. This makes the UAE one of the most expensive places for IT projects and a good destination for web professionals.  However, due to immigration policies, becoming a resident of the UAE is more a dream than a reality, and few manage to become one. On the other hand, this allows the country to provide IT services and products created and developed almost exclusively by its own human resources. 

Why You Should Work With UAE-based IT Companies

IT companies from the UAE have developed their ability to attract more clients from all over the world by adapting to market trends and adopting new technologies.  Actionable insight into customer needs, productivity gains, and increased security are just some of the benefits gained from the early adoption of high-end technology and a developed IT infrastructure. 

What You Should Be Aware of When Working With a UAE-based IT Company

As it was mentioned in the beginning, the UAE is one of the most expensive destinations for web projects. Even though the quality of the IT product and/or services is high-end, the hourly rate and cost per project are reasons to give second thoughts about whether it is worth working with UAE-based IT companies. 

Additionally, the limited capacities of the companies based in the UAE are another key point to pay attention to. Since web agencies in the UAE mainly rely on their own human resources, it is possible to experience relatively average project management. 

Are UAE-based IT companies Reliable?

Regionally and globally, the Emirates have a good reputation in executing and managing IT projects, and the adopted government policies in 2018, available to this day, increased process transparency and made the companies open to new opportunities. With the high-end technology companies acquired, companies from the UAE are considered a good option for futuristic web projects, based on a report by the British Center for Business.

How the UAE IT Industry Relates to the Neighboring Countries

With 2 extremely important business centers: Dubai & Abu Dhabi, the Emirates found themselves in a good position compared to neighboring countries in terms of IT infrastructure. Based on a report from Tech Radar, the UAE has invested twice as much as any country in the region in the IT infrastructure and has become a leading provider of IT services, with Qatar, Saudi Arabia & Oman behind, in the named order. 

Overall, the UAE is considered one of the most promising countries that will bring the IT culture in the Arabian Peninsula to another level and stimulate neighboring countries to develop and compete. Considering the risks of the oil market and IT, the UAE chose the second as a good investment opportunity and alternative to the first one.

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.