The Europe Finance and Accounting Business Process Outsourcing Market would witness market growth of 8.8% CAGR during the forecast period (2022-2028).
Performance dashboards update and compile their key performance indicators (KPIs) in one place so business leaders can access any financial information anytime. Investment firms can maintain and set up dashboards or general ledgers for clients who want to make business decisions based on business insights, not intuition. Shifting a company’s accounting practices and services to the cloud has become essential. Outsourcing firms can handle technical, financial, and operational matters to make quantitative analysis more reliable and accessible.
With the utilization of outsourced accounting software and technology, managerial accounting can be achieved seamlessly and accurately. Business process outsourcing (BPO) is a method of subcontracting numerous business-related operations to third-party vendors. Even though BPO originally applied solely to manufacturing entities, like soft drink manufacturers that outsourced large segments of their supply chains, BPO now uses it to outsource various services and products.
Many businesses, from small startups to large companies, outsource processes, as new and innovative services are present in today’s ever-changing, highly competitive business climate. In a broad context, companies adopt BPO practices in two primary areas of back-office and front-office operations. Back office BPO refers to a company contracting its core business assistance operations like payment processing, IT services, human resources quality assurance, accounting, etc., to outside professionals who ensure the smooth running of the business.
Germany has one of the most significant ICT industries and the most prominent software sector in Europe, with 95,808 IT companies. There is a robust requirement for US products and services across all segments. Major players like Apple, Microsoft, Dell, etc., have prominent market shares. Germany is also equipped with many highly specialized SMEs. Since 2007, the net revenue in the IT sector has risen from $76.4 billion to approximately $114.3 billion in the year 2021. The IT sector has a stronghold in the region. It is constantly growing, which is expected to increase outsourced projects, thereby surging the growth of the region's finance and accounting business process outsourcing market.
The Germany market dominated the Europe Finance and Accounting Business Process Outsourcing Market by Country in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $6,054.9 million by 2028. The UK market is anticipated to grow at a CAGR of 7.9% during (2022 - 2028). Additionally, The France market would exhibit a CAGR of 9.6% during (2022 - 2028).
Based on Enterprise-size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Industry, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Travel & Logistics, Healthcare & Life Sciences, Media & Entertainment, Retail and Others. Based on Service, the market is segmented into Order-to-cash, Source-to-pay, Procure-to-pay, Multi Processed and Record-to-report. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Finance And Accounting Business Process Outsourcing Market will Hit $93.2 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, Wipro Limited, Fiserv, Inc., Infosys Limited, Tata Consultancy Services Ltd., IBM Corporation, HCL Technologies Ltd. (HCL Enterprises), Genpact Limited, Capgemini SE, and Sutherland Global Services, Inc.
Scope of the Study
Market Segments Covered in the Report:
By Enterprise-size
- Large Enterprises
- Small & Medium Enterprises (SMEs)
By Industry
- BFSI
- Energy & Utilities
- Manufacturing
- Telecom & IT
- Travel & Logistics
- Healthcare & Life Sciences
- Media & Entertainment
- Retail
- Others
By Service
- Order-to-cash
- Source-to-pay
- Procure-to-pay
- Multi Processed
- Record-to-report
By Country
- Germany
- UK
- France
- Russia
- Spain
- Italy
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Accenture PLC
- Wipro Limited
- Fiserv, Inc.
- Infosys Limited
- Tata Consultancy Services Ltd.
- IBM Corporation
- HCL Technologies Ltd. (HCL Enterprises)
- Genpact Limited
- Capgemini SE
- Sutherland Global Services, Inc.
TABLE 1 Europe Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 2 Europe Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 3 Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 4 Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 5 Europe Large Enterprises Market by Country, 2018 - 2021, USD Million
TABLE 6 Europe Large Enterprises Market by Country, 2022 - 2028, USD Million
TABLE 7 Europe Small & Medium Enterprises (SMEs) Market by Country, 2018 - 2021, USD Million
TABLE 8 Europe Small & Medium Enterprises (SMEs) Market by Country, 2022 - 2028, USD Million
TABLE 9 Europe Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 10 Europe Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 11 Europe BFSI Market by Country, 2018 - 2021, USD Million
TABLE 12 Europe BFSI Market by Country, 2022 - 2028, USD Million
TABLE 13 Europe Energy & Utilities Market by Country, 2018 - 2021, USD Million
TABLE 14 Europe Energy & Utilities Market by Country, 2022 - 2028, USD Million
TABLE 15 Europe Manufacturing Market by Country, 2018 - 2021, USD Million
TABLE 16 Europe Manufacturing Market by Country, 2022 - 2028, USD Million
TABLE 17 Europe Telecom & IT Market by Country, 2018 - 2021, USD Million
TABLE 18 Europe Telecom & IT Market by Country, 2022 - 2028, USD Million
TABLE 19 Europe Travel & Logistics Market by Country, 2018 - 2021, USD Million
TABLE 20 Europe Travel & Logistics Market by Country, 2022 - 2028, USD Million
TABLE 21 Europe Healthcare & Life Sciences Market by Country, 2018 - 2021, USD Million
TABLE 22 Europe Healthcare & Life Sciences Market by Country, 2022 - 2028, USD Million
TABLE 23 Europe Media & Entertainment Market by Country, 2018 - 2021, USD Million
TABLE 24 Europe Media & Entertainment Market by Country, 2022 - 2028, USD Million
TABLE 25 Europe Retail Market by Country, 2018 - 2021, USD Million
TABLE 26 Europe Retail Market by Country, 2022 - 2028, USD Million
TABLE 27 Europe Other Industry Market by Country, 2018 - 2021, USD Million
TABLE 28 Europe Other Industry Market by Country, 2022 - 2028, USD Million
TABLE 29 Europe Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 30 Europe Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 31 Europe Order-to-cash Market by Country, 2018 - 2021, USD Million
TABLE 32 Europe Order-to-cash Market by Country, 2022 - 2028, USD Million
TABLE 33 Europe Source-to-pay Market by Country, 2018 - 2021, USD Million
TABLE 34 Europe Source-to-pay Market by Country, 2022 - 2028, USD Million
TABLE 35 Europe Procure-to-pay Market by Country, 2018 - 2021, USD Million
TABLE 36 Europe Procure-to-pay Market by Country, 2022 - 2028, USD Million
TABLE 37 Europe Multi Processed Market by Country, 2018 - 2021, USD Million
TABLE 38 Europe Multi Processed Market by Country, 2022 - 2028, USD Million
TABLE 39 Europe Record-to-report Market by Country, 2018 - 2021, USD Million
TABLE 40 Europe Record-to-report Market by Country, 2022 - 2028, USD Million
TABLE 41 Europe Finance And Accounting Business Process Outsourcing Market by Country, 2018 - 2021, USD Million
TABLE 42 Europe Finance And Accounting Business Process Outsourcing Market by Country, 2022 - 2028, USD Million
TABLE 43 Germany Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 44 Germany Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 45 Germany Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 46 Germany Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 47 Germany Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 48 Germany Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 49 Germany Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 50 Germany Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 51 UK Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 52 UK Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 53 UK Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 54 UK Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 55 UK Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 56 UK Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 57 UK Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 58 UK Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 59 France Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 60 France Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 61 France Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 62 France Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 63 France Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 64 France Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 65 France Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 66 France Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 67 Russia Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 68 Russia Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 69 Russia Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 70 Russia Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 71 Russia Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 72 Russia Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 73 Russia Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 74 Russia Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 75 Spain Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 76 Spain Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 77 Spain Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 78 Spain Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 79 Spain Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 80 Spain Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 81 Spain Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 82 Spain Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 83 Italy Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 84 Italy Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 85 Italy Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 86 Italy Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 87 Italy Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 88 Italy Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 89 Italy Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 90 Italy Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 91 Rest of Europe Finance And Accounting Business Process Outsourcing Market, 2018 - 2021, USD Million
TABLE 92 Rest of Europe Finance And Accounting Business Process Outsourcing Market, 2022 - 2028, USD Million
TABLE 93 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2018 - 2021, USD Million
TABLE 94 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size, 2022 - 2028, USD Million
TABLE 95 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Industry, 2018 - 2021, USD Million
TABLE 96 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Industry, 2022 - 2028, USD Million
TABLE 97 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Service, 2018 - 2021, USD Million
TABLE 98 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Service, 2022 - 2028, USD Million
TABLE 99 Key information – Accenture PLC
TABLE 100 Key Information – Wipro Limited
TABLE 101 Key Information –Fiserv, Inc.
TABLE 102 Key Information – Infosys Limited
TABLE 103 Key Information – Tata Consultancy Services Ltd.
TABLE 104 Key information – IBM Corporation
TABLE 105 Information – HCL Technologies Ltd.
TABLE 106 Key Information – Genpact Limited
TABLE 107 Key Information – Capgemini SE
TABLE 108 Key Information – Sutherland Global Services, Inc.
List of Figures
FIG 1 Methodology for the research
FIG 2 Swot analysis: Accenture plc
FIG 3 SWOT Analysis: Wipro Limited
FIG 4 SWOT Analysis: Fiserv, Inc.
FIG 5 SWOT Analysis: Infosys Limited
FIG 6 SWOT Analysis: Tata Consultancy Services Ltd.
FIG 7 Swot analysis: IBM Corporation
FIG 8 Recent strategies and developments: HCL Technologies Ltd. (HCL Enterprises)