Global F&A BPO Market Report 2023: Increasing New Rules and Regulations and Income Tax Law Changes Drives Growth

Dublin, June 07, 2023 (GLOBE NEWSWIRE) -- The "F&A BPO Global Market Report 2023" report has been added to's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the market.

The global F&A BPO market is expected to grow from $43.83 billion in 2022 to $46.50 billion in 2023 at a compound annual growth rate (CAGR) of 6.1%. The F&A BPO market is expected to reach $57.39 billion in 2027 at a CAGR of 5.4%.

Major players in the f&a bpo market are Accenture PLC, Capgemini SE, Genpact, Hewlett-Packard Development Company LP, IBM Corporation, Infosys BPM Limited, International Business Machines Corporation, Sutherland Global Services, Steria Limited, Tata Consultancy Services Ltd., Wipro Ltd., Cognizant Technology Solutions Corporation, Exlservice Holdings, Inc., Serco Group Plc, Fiserv Inc., and HCL Technologies Limited.

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Finance and accounting (F&A) business process outsourcing (BPO) refers to support provided to customers for multiple business processes in the F&A domain through a single BPO contract. It assists businesses in streamlining accounting, tax, financial planning, and analytical processes.

The main service types of F&A BPO are order-to-cash, procure-to-pay, record-to-report, source-to-pay, multi processed. Order-to-cash is business operations and activities that refer to receiving and achieving customer requests for goods and services. The various enterprise-size include small and medium enterprises (SMEs), and large enterprises. These are used in various verticals such as banking, financial services, and insurance(BFSI), healthcare, manufacturing, energy, and utilities, travel and logistics, it and telecommunications, media and entertainment, retail, others.

The F&A BPO market research report is one of a series of new reports that provides F&A BPO market statistics, including F&A BPO industry global market size, regional shares, competitors with an F&A BPO market share, detailed F&A BPO market segments, market trends, and opportunities, and any further data you may need to thrive in the F&A BPO industry. This F&A BPO market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rising adoption of cloud-based accounting software is a key trend gaining popularity in the F&A BPO market. A cloud-based accounting software refers to accounting software that is hosted in the cloud instead of being installed on a computer or manually maintained in ledgers and journals. Cloud accounting software is hosted remotely where financial information is transferred to the cloud, processed by a distant server, and then returned.

Major companies operating in F&A BPO are introducing innovative cloud-based accounting software to sustain their position in the market. For instance, in March 2023, Focus Softnet, an India-based software company that provides accounting software launched its new accounting software FocusLyte. This is a cloud-based system that manages invoices and company payments mainly designed for small and medium enterprises that helps them with complex financial accounting processes.

In February 2023, Accenture plc, an Ireland-based consulting company completed the acquisition of SKS Group Holding GmbH for an undisclosed amount. This acquisition aims to expand Accenture's technology, regulatory services, and consulting capabilities. SKS Group Holding GmbH is a Germany-based financial consultant that provides regulatory management and strategic analysis.

North America was the largest region in the F&A BPO market in 2022. Aisa Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in F&A BPO report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The countries covered in the F&A BPO market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The rising new rules and regulations and income tax law changes by the government is expected to propel the growth of the F&A BPO market going forward. The rise in new rules and regulations and income tax laws are changed to reduce inflation, provide housing, plan urban development, and regulate activities for the benefit of the public. F&A BPO process are used in tax filings by the taxpayers for improvement in mechanisms for avoiding and solving tax disputes.

For instance, in July 2022, according to The United States Congress, the legislature of the federal government of the United States introduced Billionaire Minimum Income Tax Act, which states that Individual taxpayers whose net wealth for the taxable year exceeds $100 million are subject to a minimum tax. The tax is equal to 20% of the sum of a taxpayer's taxable income, plus net unrealized gains for the taxable year. If the taxpayer's net worth reaches $100 million, the tax cannot be more than 40% of that amount. Therefore, the rise in new rules and regulations and income tax law changes is driving the growth of the F&A BPO market.

The F&A BPO market includes revenues earned by entities by providing financial reporting, accounts payable, accounts receivable, treasury and cash management, yield management, tax accounting, shareholder accounting, risk analytics, and financial administration services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Key Attributes:

Report AttributeDetails
No. of Pages275
Forecast Period2023 - 2027
Estimated Market Value (USD) in 2023$46.5 billion
Forecasted Market Value (USD) by 2027$57.39 billion
Compound Annual Growth Rate5.4%
Regions CoveredGlobal

Key Topics Covered:

1. Executive Summary

2. F&A BPO Market Characteristics

3. F&A BPO Market Trends And Strategies

4. F&A BPO Market - Macro Economic Scenario
4.1. COVID-19 Impact On F&A BPO Market
4.2. Ukraine-Russia War Impact On F&A BPO Market
4.3. Impact Of High Inflation On F&A BPO Market

5. F&A BPO Market Size And Growth
5.1. Global F&A BPO Historic Market, 2017-2022, $ Billion
5.1.1. Drivers Of The Market
5.1.2. Restraints On The Market
5.2. Global F&A BPO Forecast Market, 2022-2027F, 2032F, $ Billion
5.2.1. Drivers Of The Market
5.2.2. Restraints On the Market

6. F&A BPO Market Segmentation
6.1. Global F&A BPO Market, Segmentation By Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Order-To-Cash
  • Procure-To-Pay
  • Record-To-Report
  • Source-To-Pay
  • Multi Processed

6.2. Global F&A BPO Market, Segmentation By Enterprise-size, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Small And Medium Enterprises (SMEs)
  • Large Enterprises

6.3. Global F&A BPO Market, Segmentation By Vertical, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

  • Banking, Financial Services and Insurance (BFSI)
  • Healthcare
  • Manufacturing
  • Energy And Utilities
  • Travel And Logistics
  • IT And Telecommunications
  • Media And Entertainment
  • Retail
  • Other Verticals

7. F&A BPO Market Regional And Country Analysis
7.1. Global F&A BPO Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
7.2. Global F&A BPO Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

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Global F&A BPO Market

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