The F&A BPO Global Market Report 2023, provides comprehensive information on the f&a bpo market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global F&A BPO market size 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 Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global F&A BPO market size is expected to reach $57.39 billion in 2027 at a CAGR of 5.4%.
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The burgeoning trend of cloud-based accounting software has emerged as a pivotal and increasingly favored phenomenon within the Financial and Accounting Business Process Outsourcing (F&A BPO) market. Cloud-based accounting software, in essence, denotes a class of accounting applications that are securely hosted within the ethereal realm of the cloud, as opposed to the conventional practice of installation on local computing systems or manual record-keeping in physical ledgers and journals. This paradigm shift towards cloud accounting software is characterized by the remote hosting of financial data, a seamless transfer of said data to the cloud, its subsequent processing by a geographically distant server, and its eventual return to the user.
Prominent corporations operating within the realm of F&A BPO have fervently embraced innovation in the form of cloud-based accounting software, in a bid to fortify their positions within this ever-evolving market landscape. As a compelling example, in the month of March 2023, Focus Softnet, a pioneering India-based software enterprise renowned for its accounting solutions, heralded the advent of a groundbreaking addition to its product portfolio – FocusLyte. This cutting-edge accounting software solution, architected in the cloud, is tailored to cater to the unique needs of small and medium-sized enterprises (SMEs), proffering invaluable support for intricate financial accounting processes.
FocusLyte, by virtue of its cloud-based architecture, offers a robust ecosystem that adeptly manages an array of financial activities, foremost among them being the meticulous oversight of invoices and corporate disbursements. This meticulously crafted solution empowers SMEs to navigate the intricacies of financial accounting with aplomb, serving as a cornerstone of support in their quest for fiscal dexterity and success. This innovative offering not only exemplifies the adaptability of F&A BPO enterprises to evolving market dynamics but also underscores the overarching shift towards cloud-based paradigms that are revolutionizing the world of accounting software.
The f&a bpo market is segmented:
1) By Service: Order-To-Cash, Procure-To-Pay, Record-To-Report, Source-To-Pay, Multi Processed
2) By Enterprise-size: Small And Medium Enterprises (SMEs), Large Enterprises
3) By Vertical: Banking, Financial Services and Insurance (BFSI), Healthcare, Manufacturing, Energy And Utilities, Travel And Logistics, IT And Telecommunications, Media And Entertainment, Retail, Other Verticals
North America was the largest region in the f&a bpo market in 2022.
The table of contents in TBRC’s f&a bpo market report includes:
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
5. F&A BPO Market Size And Growth
…
27. F&A BPO Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The F&A BPO Market
29. F&A BPO Market Future Outlook and Potential Analysis
30. Appendix
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