The Europe Finance and Accounting Business Process Outsourcing Market should 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.
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.
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.
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
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.
Unique Offerings
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology1.1 Market Definition
1.2 Objectives
1.3 Market Scope
1.4 Segmentation
1.4.1 Europe Finance And Accounting Business Process Outsourcing Market, by Enterprise-size
1.4.2 Europe Finance And Accounting Business Process Outsourcing Market, by Industry
1.4.3 Europe Finance And Accounting Business Process Outsourcing Market, by Service
1.4.4 Europe Finance And Accounting Business Process Outsourcing Market, by Country
1.5 Methodology for the research
Chapter 2. Market Overview
2.1 Introduction
2.1.1 Overview
2.1.1.1 Market composition & scenario
2.2 Key Factors Impacting the Market
2.2.1 Market Drivers
2.2.2 Market Restraints
Chapter 3. Strategies deployed in Finance and Accounting Business Process Outsourcing Market
Chapter 4. Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size
4.1 Europe Large Enterprises Market by Country
4.2 Europe Small & Medium Enterprises (SMEs) Market by Country
Chapter 5. Europe Finance And Accounting Business Process Outsourcing Market by Industry
5.1 Europe BFSI Market by Country
5.2 Europe Energy & Utilities Market by Country
5.3 Europe Manufacturing Market by Country
5.4 Europe Telecom & IT Market by Country
5.5 Europe Travel & Logistics Market by Country
5.6 Europe Healthcare & Life Sciences Market by Country
5.7 Europe Media & Entertainment Market by Country
5.8 Europe Retail Market by Country
5.9 Europe Other Industry Market by Country
Chapter 6. Europe Finance And Accounting Business Process Outsourcing Market by Service
6.1 Europe Order-to-cash Market by Country
6.2 Europe Source-to-pay Market by Country
6.3 Europe Procure-to-pay Market by Country
6.4 Europe Multi Processed Market by Country
6.5 Europe Record-to-report Market by Country
Chapter 7. Europe Finance And Accounting Business Process Outsourcing Market by Country
7.1 Germany Finance And Accounting Business Process Outsourcing Market
7.1.1 Germany Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.1.2 Germany Finance And Accounting Business Process Outsourcing Market by Industry
7.1.3 Germany Finance And Accounting Business Process Outsourcing Market by Service
7.2 UK Finance And Accounting Business Process Outsourcing Market
7.2.1 UK Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.2.2 UK Finance And Accounting Business Process Outsourcing Market by Industry
7.2.3 UK Finance And Accounting Business Process Outsourcing Market by Service
7.3 France Finance And Accounting Business Process Outsourcing Market
7.3.1 France Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.3.2 France Finance And Accounting Business Process Outsourcing Market by Industry
7.3.3 France Finance And Accounting Business Process Outsourcing Market by Service
7.4 Russia Finance And Accounting Business Process Outsourcing Market
7.4.1 Russia Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.4.2 Russia Finance And Accounting Business Process Outsourcing Market by Industry
7.4.3 Russia Finance And Accounting Business Process Outsourcing Market by Service
7.5 Spain Finance And Accounting Business Process Outsourcing Market
7.5.1 Spain Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.5.2 Spain Finance And Accounting Business Process Outsourcing Market by Industry
7.5.3 Spain Finance And Accounting Business Process Outsourcing Market by Service
7.6 Italy Finance And Accounting Business Process Outsourcing Market
7.6.1 Italy Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.6.2 Italy Finance And Accounting Business Process Outsourcing Market by Industry
7.6.3 Italy Finance And Accounting Business Process Outsourcing Market by Service
7.7 Rest of Europe Finance And Accounting Business Process Outsourcing Market
7.7.1 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Enterprise-size
7.7.2 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Industry
7.7.3 Rest of Europe Finance And Accounting Business Process Outsourcing Market by Service
Chapter 8. Company Profiles
8.1 Accenture PLC
8.1.1 Company Overview
8.1.2 Financial Analysis
8.1.3 Segmental and Regional Analysis
8.1.4 Research & Development Expenses
8.1.5 Recent strategies and developments:
8.1.5.1 Acquisition and Mergers:
8.1.6 SWOT Analysis
8.2 Wipro Limited
8.2.1 Company Overview
8.2.2 Financial Analysis
8.2.3 Segmental and Regional Analysis
8.2.4 Research & Development Expenses
8.2.5 Recent strategies and developments:
8.2.5.1 Partnerships, Collaborations, and Agreements:
8.2.6 SWOT Analysis
8.3 Fiserv, Inc.
8.3.1 Company Overview
8.3.2 Financial Analysis
8.3.3 Segmental and Regional Analysis
8.3.4 Recent strategies and developments:
8.3.4.1 Acquisition and Mergers:
8.3.5 SWOT Analysis
8.4 Infosys Limited
8.4.1 Company Overview
8.4.2 Financial Analysis
8.4.3 Segmental and Regional Analysis
8.4.4 Research & Development Expense
8.4.5 SWOT Analysis
8.5 Tata Consultancy Services Ltd.
8.5.1 Company Overview
8.5.2 Financial Analysis
8.5.3 Segmental and Regional Analysis
8.5.4 Research & Development Expenses
8.5.5 SWOT Analysis
8.6 IBM Corporation
8.6.1 Company Overview
8.6.2 Financial Analysis
8.6.3 Regional & Segmental Analysis
8.6.4 Research & Development Expenses
8.6.5 SWOT Analysis
8.7 HCL Technologies Ltd. (HCL Enterprises)
8.7.1 Company Overview
8.7.2 Financial Analysis
8.7.3 Segmental and Regional Analysis
8.7.4 Research & Development Expense
8.7.5 Recent strategies and developments:
8.7.5.1 Partnerships, Collaborations, and Agreements:
8.7.5.2 Product Launches and Product Expansions:
8.8 Genpact Limited
8.8.1 Company Overview
8.8.2 Financial Analysis
8.8.3 Segmental and Regional Analysis
8.8.4 Recent strategies and developments:
8.8.4.1 Product Launches and Product Expansions:
8.9 Capgemini SE
8.9.1 Company Overview
8.9.2 Financial Analysis
8.9.3 Regional Analysis
8.10. Sutherland Global Services, Inc.
8.10.1 Company Overview
8.10.2 Recent strategies and developments:
8.10.2.1 Acquisition and Mergers:
Companies Mentioned
- 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.
Methodology
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