Get more insights on APAC and MEA Finance and Accounting Managed Services Industry Market
APAC and MEA Finance and Accounting Managed Services Industry market is driven by Offshore Model
The APAC and MEA finance and accounting managed services industry encompasses a variety of back-office functions that are outsourced to third-party service providers on a recurring basis. These services primarily include general accounting, financial reporting, payroll services, issue and control compliance and other accounting functions. The finance and accounting managed services help organizations to focus on their core competencies by outsourcing non-core financial processes. The managed service providers leverage automation technologies like robotic process automation (RPA), artificial intelligence (AI) and cloud computing to deliver services more efficiently at lower costs as compared to traditional in-house models.
The Global APAC and MEA Finance and Accounting Managed Services Market is estimated to be valued at US$ 1328.41 Bn in 2024 and is expected to exhibit a CAGR of 18% over the forecast period 2024 to 2031.
One of the key drivers of APAC And MEA Finance And Accounting Managed Services Industry Market Size is the offshore outsourcing model. Organizations outsource their non-core financial activities to managed service providers based in lower cost locations to gain 30–40% savings compared to in-house models. The service providers in MEA countries have dedicated finance and accounting talent pools that handle processes at lower total cost of operations. This makes offshore outsourcing lucrative for businesses across the globe.
The current geopolitical situations in Asia Pacific and Middle East & Africa regions are impacting the growth of finance and accounting managed services industry in the region. With rising political tensions and economic uncertainties due to issues like conflicts between countries, terrorism, inflation etc. organizations are facing challenges in their cross border operations and regional expansions. This is pushing them to adopt managed services to outsource their finance and accounting functions for ensuring business continuity and reducing operational costs.
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