Finance and Accounting Business Process Service Market size, Analytical Overview, Growth factors, Demand and trends forecast to 2026

The report "Finance and Accounting Business Process Service Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2018 - 2026" gives complete assessment of the latest trends, challenges of market.

The objectives of this study are as follows:

• To define, describe, and forecast the " Finance and Accounting Business Process Service " market by type, application, component, delivery model, end user, and region
• To provide detailed information regarding major factors influencing market growth (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
• To analyze opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
• To forecast the market size of market segments with respect to the four key regions: North America, Europe, Asia, and the Rest of the World (RoW)
• To strategically profile the key players and comprehensively analyze their product portfolios, market positions, and core competencies

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Earlier, clients used to outsource their non-core operations such as HR, finance, CRM, etc. to BPO providers such as Infosys, Wipro, and Cognizant. Later, clients were looking to cut down on costs on existing operations and bring about business improvement. They started outsourcing some parts of their core business operations. Outsourcing companies started offering business process services (BPS) to clients.  Analytics, knowledge process outsourcing, data reporting and maintenance, research, etc. come under the umbrella of BPS. A business process outsourcing (BPO) provider performs a process or a part of a process on behalf of another organization. This is done to save costs or increase productivity. Business process services (BPS) providers manage and execute all business operations. According to a white paper published by Cognizant, BPS is a mix of people, processes, and technology and not just the systems carrying out the processes. Finance and accounting business process services are a part of BPS solutions. They offer solutions in the areas of procure-to-pay and order-to-cash. They back office delays and missed opportunities in activities related to finance and accounting in order to deliver maximum business value. The finance and accounting business process service market includes services related to margin growth, working capital management, proactive risk, and regulatory compliance.

The global finance and accounting business process service market is expanding at a high growth rate. This is due to factors such as the need for cost and time savings and productivity gains in business operations, requirement of expertise of an outsourced organization to maintain business process, and the focus of clients on the core competencies of their organizations. The cost and time utilized for various finance and accounting operations is a major concern for any organization. Clients are outsourcing their finance and accounting operations to focus on their core competencies. Finance and accounting business processes of any organization need expertise and efficient management for smooth operation of business processes. These factors are anticipated to fuel the finance and accounting business process service market in the coming years. However, challenges related to creating a code of conduct, assigning accountability of risks, standardization of the process, and flexibility adoption in business processes are likely to restrain the finance and accounting business process service market. Nevertheless, increased automation of processes, significant buying power of consumers in developing economies, and the worldwide distribution of resources to achieve client goals are estimated to provide attractive opportunities to the finance and accounting business process service market.

The finance and accounting business process service market can be segmented based on deployment, vertical, and region. Based on deployment, the finance and accounting business process service market can be classified into on-premise and hosted. In terms of vertical, the finance and accounting business process service market can be categorized into banking, financial institutions and services (BFSI); retail; IT and telecom; oil & gas; health care; media & entertainment; logistics & transportation; manufacturing; and others.
Based on region, the global finance and accounting business process service market can be divided into North America, Europe, Asia Pacific, Middle East & Africa, and South America. These geographic regions are further analyzed at the country level, wherein top countries across North America are the U.S. and Canada. Europe includes market analysis across the U.K., Germany, France, and Rest of Europe. Similarly, the finance and accounting business process service market in Asia Pacific is studied and analyzed across India, China, Japan, Australia, and the Rest of Asia Pacific. The top countries in Middle East & Africa and South America include GCC countries, South Africa, and Brazil.

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Key players in the global finance and accounting business process service market include Accenture, Capgemini, Aegis Associates, Cognizant, TCS, EXL, Genpact, HCL technologies, HP, IBM Corporation, Infosys Limited, Quatrro, Wipro Limited, and WNS (Holdings) Ltd..
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
• Market segments and sub-segments
• Market trends and dynamics
• Supply and demand
• Market size
• Current trends/opportunities/challenges
• Competitive landscape
• Technological breakthroughs
• Value chain and stakeholder analysis
The regional analysis covers:
• North America (U.S. and Canada)
• Latin America (Mexico, Brazil, Peru, Chile, and others)
• Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
• Eastern Europe (Poland and Russia)
• Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
• Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
• A complete backdrop analysis, which includes an assessment of the parent market
• Important changes in market dynamics
• Market segmentation up to the second or third level
• Historical, current, and projected size of the market from the standpoint of both value and volume
• Reporting and evaluation of recent industry developments
• Market shares and strategies of key players
• Emerging niche segments and regional markets
• An objective assessment of the trajectory of the market
• Recommendations to companies for strengthening their foothold in the market   

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