The accounting industry is undergoing a profound shift in the last few decades as firms increasingly outsource their activities to improve efficiency.  With the rising complexity of financial regulations and the demand for specialized expertise, it has become crucial for accounting firms to identify the top outsourcing partners that can cater to their specific needs and provide relevant solutions.

India and the Philippines are among the advanced countries where outsourcing is flourishing rapidly. When it comes to accounting offshoring India has multiple advantages over the Philippines such as an established ecosystem, talent availability and time zone difference. To know more about which is the best offshoring destination for accounting firms India or the Philippines follow the link.
There have been numerous outsourcing partners in India and the Philippines in the last few decades. But which companies have successfully grabbed a position on the list of top outsourcing firms in the accounting industry?

This article will help you to explore top accounting outsourcing companies and why India is a leading destination for offshore accounting services.

Why is India the number 1 Outsourcing/Offshoring hub for accounting firms? 

  • The country boasts a large pool of highly skilled accounting professionals who deeply understand global accounting standards and regulations. 
  • Indian outsourcing firms are known for their commitment to quality, timely delivery, and adherence to data security protocols, making them a preferred choice for providing the best offshore accounting services.

Also, readers can refer to the AAFTOC, the Alliance of Accounting and Finance Tax Outsourcing Companies, for a comprehensive country-wise comparison of outsourcing and offshoring accounting services. The comparison highlights important factors such as cost, language, time zone, etc. Popular outsourcing destinations include India, Philippines, South Africa, Pakistan, Bangladesh, and Mexico, offering cost-effective solutions with fluent English speakers and compatible time zones.

Advantages of Offshore Outsourcing for Accounting Firms:

  • Access to skilled talent with expertise in international accounting standards and various accounting software.

  • Strong IT infrastructure to support and leverage advanced technology and software tools for efficient accounting processes.

  • Cost savings through lower labor costs and operational expenses in offshore locations like India.

  • Scalability and flexibility to easily adjust operations based on demand, optimizing resources.

  • Time zone advantage for round-the-clock productivity and completion of tasks during non-business hours.

  • Focus on core competencies such as client management, strategic advisory, and business development by delegating non-core accounting functions.

According to the AAFTOC report, the benefits and impact of offshoring accounting-related work are so huge that, despite increased competition, the demand for offshoring EA and CPA services continues to rise. 

Here is the year-wise EA growth:

Year-wise CPA growth:

Outsourcing Partners: Shaping the Future of the Accounting Industry:

Accounting partners offer a range of solutions, including bookkeeping, tax preparation, financial analysis, and payroll management, allowing accounting firms to focus on core competencies while benefiting from expertise and cost-effectiveness.

With their advanced technology infrastructure, experienced professionals, and commitment to data security, these top outsourcing partners are poised to shape the future of the accounting industry in 2024 and beyond.

Top 5 Most Promising Outsourcing Companies for Accounting Firms in 2024:

1. Entigrity: 

Headquarters: Sugar Land, Texas

About Company:

  • Entigrity is a global leader in providing outsourcing for accounting firms and one of the preferred outsourcing partners for 40 out of the top 100 US Accounting firms.
  • Entigrity is an  ISO 27001:2013 certified and GDPR-compliant organization, along with ISO 9001:2013 certification for Quality Management.
  • They started their journey in the year of 2010 and now assist small and medium-sized accounting firms from different countries.
  • With a large workforce of over 3,000 accounting experts, Entigrity is already assisting over 725 accounting and CPA firms in the United States and Canada.
  • They were recently inducted into the BDO alliance partnership, and they were the first business in this industry to be named a platinum partner of IMA (The Association of Accountants and Finance Professionals in Business).
  • Their customized staffing solutions make them one of the most renowned and reliable accounting outsourcing companies of 2024.

See why accounting industry leaders recommend us?

Matt Solomon (Watch Video)
Philip J Whitman, CPA (Watch Video)
Sia Kal (Watch Video)
Marcey Rader (Watch Video)

2. Xpitax:  

About Company:

  • Xpitax is a renowned accounting outsourcing company that began operations in 2004.
  • They cater to the needs of small and medium-sized accounting firms globally, providing comprehensive accounting solutions.
  • Xpitax's services include tax return preparation, accounts payable/receivable, financial statement preparation, and management reporting.
  • With a team of over 200 experienced professionals, Xpitax has built a strong reputation for delivering quality services and exceeding client expectations.

3. Sureprep:

About Company:

  • Sureprep is a trusted name in the offshore accounting industry, having started its operations in 2002.
  • They focus on serving small and medium-sized accounting firms worldwide by offering efficient tax preparation and outsourcing solutions.
  • Their solutions are designed to streamline and automate the tax preparation process, improving efficiency and accuracy. SurePrep's offerings include tools for data import, document organization, tax work paper preparation, and electronic filing.
  • Sureprep's services encompass individual and business tax return preparation, tax planning, and audit support.
  • With a client base of over 1,000 accounting firms, Sureprep has established itself as a reliable partner in meeting tax compliance and preparation needs.

4. Taxfyle: 

About Company:

  • Taxfyle is a prominent offshore accounting service provider that entered the accounting market in 2015.
  • They specialize in delivering tax preparation and advisory services to accounting firms, leveraging their skilled team of professionals.
  • Taxfyle’s offerings include individual and business tax preparation and advisory services to accounting firms, leveraging their skilled team of professionals.

5. Paperchase:

About Company:

  • Paperchase is a well-established accounting outsourcing company that expanded its operations to India in 2011.
  • They primarily cater to small and medium-sized accounting firms across the globe, offering comprehensive bookkeeping and accounting solutions.
  • Paperchase's services encompass accounts payable/receivable, bank reconciliations, financial reporting, and virtual CFO support.
  • With a team of highly trained accountants and advanced technology infrastructure, Paperchase ensures accurate and timely financial management for its clients.

Conclusion:

With robust accounting outsourcing industry knowledge, these reputable outsourcing partners can assist accounting firms in meeting their diverse needs. The companies mentioned in this article, including Entigrity, stand out as top outsourcing providers for accounting firms in 2024, offering a wide range of services to cater to the unique requirements of their clients.

Entigrity goes beyond the traditional notion of outsourcing, understanding that it is not merely about sending work overseas to reduce costs. Instead, they emphasize the importance of finding a unique solution that aligns with the requirements of each accounting firm. By putting a priority on collaboration and establishing solid partnerships, Entigrity makes sure that its clients' firms maximize profitability.

Their commitment to personalized service makes them a standout choice among outsourcing providers. Their services are tailored to meet the specific needs of accounting firms, providing scalability and flexibility to accommodate the firm's growth and changing demands.
 

Entigrity™ is a trusted offshore staffing partner for 725+ accountants, CPAs, and tax firms across the US and Canada. With a flexible and transparent hiring model, the company empowers firms of all sizes to acquire skilled accounting, bookkeeping, and tax preparation staff. As a firm 'run by accountants, for the accountants,' Entigrity ensures precise alignment with the hiring needs of accounting firms, providing staff under your control and management, minimizing concerns about compliance, payroll taxes, overheads, or benefits. Entigrity is a proud independent member of the BDO Alliance USA. We have collaborated with IMA to train and upskill 5,000 Professionals in India. We were also recognized as one of the "Dream Companies to Work For" and won the "Great Place to Work® Certified™" in the accounting offshoring industry.  

 

Jacob Scott, CPA
Member, Advisory Board

Jacob Scott is a CPA with over 20 years of experience in the area of accounting & finance and has worked as a Senior Audit Associate at EY. Jacob drives the financial planning of the company by analyzing its performance and risks. He retains constant awareness of the company’s financial position and acts to prevent problems. He also sets up and oversees the company’s finance IT system as well as sets targets for and supervise all accounting and finance personnel (management accountants, internal auditors, etc.) Besides overseeing all audit and internal control operations, Jacob develops the corporate fundraising strategy and manage relationships with partners and investors. His roles also include preparing timely and detailed reports on financial performance on a quarterly and annual basis and conducting analysis to make forecasts and report to upper executives. He ensures adherence to financial laws and guidelines.  He has a keen interest in activities and societies, industry tours, educational seminars, cultural activities, sports, and most importantly attending conferences.

Recent Post

Build an Accounting Firm Gives More Money Time Freedom

Build an Accounting Firm Gives More Money Time Freedom

Christopher Rivera, 242

10 Oct, 2023 242
CPA Evolution - Insight into the Profession as an Accountant

CPA Evolution - Insight into the Profession as an Accountant

Christopher Rivera, 253

27 Sep, 2023 253
How the Accounting Industry is Transforming Itself

How the Accounting Industry is Transforming Itself

Christopher Rivera, 250

10 Sep, 2023 250
SOMERSET CPAS

SOMERSET CPAS

Jacob Scott, CPA, 781

08 Aug, 2023 781
SUMMIT CPA

SUMMIT CPA

Mike Goossen, CPA, 723

08 Aug, 2023 723
ACKTIFY CASE STUDY

ACKTIFY CASE STUDY

Christopher Rivera, 694

08 Aug, 2023 694
Client Updates - August 2023

Client Updates - August 2023

Christopher Rivera, 647

01 Aug, 2023 647
Client Updates - July 2023

Client Updates - July 2023

Christopher Rivera, 731

01 Jul, 2023 731
Client Updates - June 2023

Client Updates - June 2023

Christopher Rivera, 932

01 Jun, 2023 932
CPA Vs Ron Smith Season 2 Episode 5

CPA Vs Ron Smith Season 2 Episode 5

SIA KAL, 831

20 Feb, 2023 831
CPA vs Ron Smith Season 2 Episode 4

CPA vs Ron Smith Season 2 Episode 4

Jack Anderson, 2535

13 Feb, 2023 2535
CPA vs Ron Smith Season 2 Episode 3

CPA vs Ron Smith Season 2 Episode 3

SIA KAL, 1032

12 Dec, 2022 1032
12 PRACTICAL TIPS TO BUILD AND MANAGE OFFSHORE TEAMS FOR ACCOUNTING FIRMS

12 PRACTICAL TIPS TO BUILD AND MANAGE OFFSHORE TEAMS FOR ACCOUNTING FIRMS

Mike Goossen, CPA|Shawn Parikh, 2626

06 Apr, 2021 2626
8 ACTIONABLE RECOMMENDATION ON INTEGRATING ONSHORE & OFFSHORE STAFF AND BUILD ONE TEAM

8 ACTIONABLE RECOMMENDATION ON INTEGRATING ONSHORE & OFFSHORE STAFF AND BUILD ONE TEAM

Shawn Parikh, 2667

06 Apr, 2021 2667
GUIDE TO START CLIENT ACCOUNTING SERVICES

GUIDE TO START CLIENT ACCOUNTING SERVICES

Mike Goossen, CPA, 3209

12 Jan, 2021 3209
BOOKKEEPING SYSTEMS TO HELP BRIDGE THE GAP WITH USING OFFSHORE STAFF

BOOKKEEPING SYSTEMS TO HELP BRIDGE THE GAP WITH USING OFFSHORE STAFF

Leena Parikh, CA, 10029

02 Mar, 2022 10029
HOW TO RAISE RATES WITHOUT LOSING A CLIENT

HOW TO RAISE RATES WITHOUT LOSING A CLIENT

Mike Goossen, CPA, 10212

14 Feb, 2022 10212
WHY PERSONALITY MATTERS SO MUCH FOR ACCOUNTANTS TODAY

WHY PERSONALITY MATTERS SO MUCH FOR ACCOUNTANTS TODAY

Christopher Rivera, 10086

08 Feb, 2022 10086
Team Updates - Oct.

Team Updates - Oct.

Shawn Parikh, 2317

20 Oct, 2022 2317
16th September 2022

16th September 2022

Shawn Parikh, 2863

16 Sep, 2022 2863
Roles Restructuring and Other Updates

Roles Restructuring and Other Updates

Shawn Parikh, 2357

05 Sep, 2022 2357
Entigrity Proudly Sponsors SYNERGY 2023

Entigrity Proudly Sponsors SYNERGY 2023

Christopher Rivera, 138

03 Nov, 2023 138
Entigrity Shines at SurePrep Transform 2023: Leading the Way in Offshore Staffing Solutions

Entigrity Shines at SurePrep Transform 2023: Leading the Way in Offshore Staffing Solutions

Christopher Rivera, 190

26 Oct, 2023 190
Entigrity a Proud Sponsor at SurePrep Transform Conference 2023

Entigrity a Proud Sponsor at SurePrep Transform Conference 2023

Christopher Rivera, 179

11 Oct, 2023 179
SAY NO TO STAFFING STRESS THIS TAX SEASON

SAY NO TO STAFFING STRESS THIS TAX SEASON

Mike Goossen, CPA, 4748

01 May, 2020 4748
OFFSHORE STAFFING VS OUTSOURCING - WHAT TO CHOOSE

OFFSHORE STAFFING VS OUTSOURCING - WHAT TO CHOOSE

Mike Goossen, CPA, 4300

06 Apr, 2020 4300
OFFSHORE STAFF IS SIMILAR TO LOCAL STAFF

OFFSHORE STAFF IS SIMILAR TO LOCAL STAFF

Mike Goossen, CPA, 3911

01 Apr, 2020 3911