Managed service can be defined as a practice of outsourcing any company’s operational processes to some other entity referred as an MSP (managed service provider). The outsourced function may range from basic activities as maintaining books and some other services to full finance and accounting team outsourcing. The key objective to opt for finance and accounting managed services is to cut expenses and improve operational efficiency.
Market Dynamics
Some of the key factors driving the market growth for finance and accounting managed services include the cost optimization offered by MSPs and skilled professionals associated with these service providers. Usually, managed service providers offer a flat-fee or monthly-based subscription which is less expensive than appointing a fully functional finance and accounting team and handling their expenses (infrastructure, wedges, and salaries). Moreover, the teams of managed service providers are equipped with experienced professionals to fill all the financial roles while maintaining the accuracy and efficiency. This encourages the companies to switch their operational model to managed services. In such cases, budgeting becomes easier as the overheads are reduced and expenses are predictable.
Banks and financial organizations are increasingly shifting towards managed services rather than building their own in-house team. This is intended to concentrate their skills and time to the activities which are more beneficial to their business growth. The adoption of managed services for finance and accounting services is still in initial phase but the market is anticipated to witness rapid growth in coming years.
Market Taxonomy
This report segments the APAC and MEA finance and accounting managed services market on the basis of end-user, and region. On the basis of end-user, APAC and MEA finance and accounting managed service market is segmented into manufacturing, IT & telecom, retail & e-commerce, BFSI, healthcare, and others. On the basis of region, APAC and MEA finance and accounting managed service market is segmented into APAC and MEA
Key features of the study:
Detailed Segmentation:
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