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

The tech sector in Vancouver is actively developing and growing, making the city the second-largest tech hub in Canada.  In addition to this, Vancouver is Canada’s top city to invest in attracting talents all around the world. 

Today there are more than 300 IT companies in Vancouver and 280+ registered that you can find on Tech Behemoths. These companies are providing jobs for more than 100.000 professionals of different ages and specializations. Out of 100.000 tech and IT  professionals, ⅔ or 75.000+ are activating in the Metro Vancouver area. 

One of the most significant players in the local IT market - BC Tech Hub, is also located in Vancouver, which gives the city a significant advantage in the region, increasing its development potential significantly. 

Another interesting fact is that the tech and IT companies located in Vancouver generate $23B in revenue and $15B in GDP - the numbers have increased dramatically over the past 5 years due to a series of factors, such as international investments, good local policies, high education level of local young professionals but also qualified workers from all around the world working in the city. 

According to the latest statistics from Vancouver Economic, the industry growth rate is 6%/year, which at its current size means a lot, compared to other cities in the region.  The industry includes and provides services such as AI, SaaS, social media, business intelligence, security and fintech, e-commerce, and web technologies. 

On a side note, it is essential to note that huge corporations and international companies which are leading the IT sector globally also have offices opened in Vancouver. Microsoft, Amazon, Apple, Facebook, Cisco, SAP, or Intel are only a few to mention from the entire top list of companies that continue to invest, provide workplaces and create new accelerator programs, startup incubators, and everything in between. 

In addition, Vancouver is an attractive place for IT companies and professionals not only due to the above-mentioned reasons but also because it has the fastest-growing tech talent in North America, it is the top 25 city for startups in the world, and it has 2nd lowest operational costs in North America. 

Overall, Vancouver is definitely a top destination for companies, but also for those who are seeking IT companies with a good reputation and high performance. 

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.