The world is becoming more interlinked, and businesses are becoming more complex. With accounting being an essential component of all successful business, Certified Public Accountant (CPA) firms specifically are experiencing growing demand.
To keep up with this rising demand, many CPA firms outsource accounting services to stay competitive and boost their growth.
As per Fact.MR, the Business Process Outsourcing market is expected to grow with a Compound Annual Growth Rate (CAGR) of 8.5% during 2022-2032.
Outsourcing accounting involves co-sourcing with an external accounting firm to oversee the financial operations of your clients. This enables CPA firms to benefit from the experience of accounting professionals without hiring and training their own staff.
Outsourcing accounting services has proven to be a profitable, strategic, and useful tactic for scaling operations, streamlining procedures, and gaining access to elite talent at a reasonable cost.
Here are some points explaining why outsourcing accounting services is a growth engine for CPA firms:
