Top Industries that Can Benefit from Outsourced Accounting Support

The business outsourcing industry – especially those that offer outsourced accounting support — has grown from being more than just a way to organize companies’ finances. Throughout the years, it evolved into an effective strategic solution for startups and established companies alike. As companies across various industries realize that financial accuracy, management and proper regulatory compliance is a must, the value of outsourced accounting has become undeniable.   

Its unique capability to give expert finance and accounting support without the need for companies to invest in in-house training and employment makes it an ideal strategy. But which industries have benefitted from outsourcing their accounting needs the most?   

Let’s look into the different industries where using outsourced accounting support as a business strategy has become the norm and how it has benefitted them over the years.   

Industries that are Utilizing Outsourced Accounting Support  

Same as the other outsourced services provided by different business process outsourcing companies, outsourced accounting support is primarily meant to benefit individuals and entities from industries outside the finance and accounting sector to be able to fill the gap in their business requirements without significant investment from their end. 
 
Here are some of the most common industries that benefit from having offshore accounting services:  

Healthcare and Medical Services Industry  

This industry in itself is one of the most regulated fields as it handles the complexities of providing medical care to individuals. Whether it be hospitals that provide medical services or healthcare manufacturers that produce medical equipment, each step of their processes has to adhere to strict guidelines set by medical boards within their locality and internationally.   

Because of its highly regulated nature, healthcare and medical services are turning to outsourcing several aspects of their key tasks such as outsourcing for manpower, medical expertise, medical consultants and their finance and accounting needs.  

In a study done by Black Book Market Research LLC with over 500 hospitals, it was found that about 90% have begun to explore outsourcing as a strategy to gain a competitive edge while also reducing their overhead costs.   

As a healthcare or medical entity, these are some of the services you can outsource to a trusted finance and accounting provider:  

• Navigate intricate billing processes. 

• Accurate bookkeeping for both employee payroll and patient transactions. 

• Adjust payroll management needs according to employee demographics such as having part-time, full-time, and contractual employees. 

• Stay compliant with tax regulations and financial updates that the healthcare sector is expected to comply to. 

• Allocate funds effectively for equipment upgrades and patient care initiatives. 

Read: Is It Safe to Outsource your Accounting Needs?  

Retail and E-Commerce Industry  

Technological innovation – especially in recent years, has paved the way for not just the retail industry to boom but to give rise to a new industry altogether: E-commerce.   

Retail businesses and e-commerce platforms have become the giants of the consumer industries, which makes them the primary industries affected by challenges such as seasonal sales fluctuations, constant change in inventory and managing different revenue streams from several platforms and selling channels.   

With the wide consumer reach that these industries have, outsourced accounting support and general outsourcing in sales is one of the best ways for them to streamline their operations and multiple revenue records to make sure that their operations will not face any challenges brought on by its multi-platform nature.   

Here are some of the services that would benefit the Retail and E-Commerce Industry the most:  

• Track inventory costs and manage stock levels efficiently.  

• Reconcile revenue from multiple sales channels.  

• Prepare for busy seasons with cash flow forecasting.  

• Handle tax compliance for online and brick-and-mortar operations.  
  

Construction and Real Estate  

Like the retail and e-commerce industries, construction and real estate’s profits are usually characterized by fluctuations brought on by sales. With most of its profit and revenue being project-based, project-based accounting support and regulatory compliance help make sure that this industry’s finances are always in order regardless of the differences in profit.   

Verified Market Reports’ latest data show that because of the unique needs of this industry, outsourcing – including outsourced accounting support, has gained popularity as a business solution, with it steadily increasing from now (2024) to 2030.   

With this predicted rise in demand, how exactly does outsourced accounting support help?   

Outsourced accounting support offers the following tailored solutions for the Construction and Real Estate Industry:  

• Monitor project budgets and costs and create quarterly reports based on fluctuations to budget and profit. 

• Ensure compliance with tax laws and labor regulations in every project and contract done. 

• Manage accounts payable and receivable for ongoing projects. 

• Streamline reporting for investors and stakeholders. 

Technology Industry 

Much like the rise of e-commerce, the technology industry's evolution has been fast paced over the years. As technology evolves, so does the opportunity to capitalize on it – which is why technology (tech) companies are rapidly scaling and expanding globally with their entire business model designed to act as fast as the industry they are in and help in their business growth. 

Because of their business model, outsourcing their core functions allows them to focus on being able to adapt and stay ahead of technological trends – something that is essential in their industry. Whether their focus is on IT solutions, app development, technology integration or software solutions, outsourced financial support help make sure that their financial management efforts are able to handle their fast-moving operations, often acting as an essential tool for their investors and innovation cycles.  

For example, though Google (under Alphabet Inc.) is considered one of the tech giants worldwide, is proud to outsource several functions to trusted providers. They are known to outsource the streamlining of their financial processes as well as handling financial paperwork for mergers and acquisitions. For them, outsourcing not only acts as a way for them to get the job done quickly, but also gives them the talent and resources needed to meet regulatory demands worldwide, explore the financial landscape in various countries and streamline their operations globally.  

With many tech companies operating on a global scale, they deal with having to comply with requirements for different regulatory bodies, handling and billing in multiple currencies, and having the global market affect their financial flow. Throughout all this, they must be able to continue with technological breakthroughs to keep investor interests and market competitiveness – which is why outsourced accounting solutions proves to be beneficial for them. 
 
Here are some of the ways for outsourced accounting firms to help tech companies be able to focus on their core competencies: 

• Track recurring revenue models such as subscriptions and licenses and create financial processes for new revenue models.  

• Support financial due diligence paperwork for investor relations as well as during mergers and acquisitions. 

• Ensure compliance with international tax and reporting standards. 

• Manage payroll and contractor payments on a global scale. 

Small Businesses 

Despite not belonging to just one industry, the demand for outsourced services presented by small businesses cannot be overlooked. Small businesses are typically businesses working with a limited revenue or manpower and usually provide small-scale goods and services to its target demographic. For businesses like these – especially those in the early stages of its growth who has yet to achieve a successful return on their investment – the resources to be able to hire a full-time in-house accounting team or have an accounting department is just not feasible. 
 
However, just because the resources to employ an accounting team is unavailable, doesn't mean the need for it can wait. From the initial business registration requirements to setting up the foundation of the business’ financial management efforts, accounting support is a necessity at this stage if the business – which is why the common go-to of small business owners is to outsource these needs. 

Having an offshore accounting or outsourced accounting service allows small businesses to avail themselves of their services on an as-needs basis while still giving them the same, if not better financial management support as having an in-house team. This allows small business owners and their teams to focus on getting the business running and scaling up as their finances are accurate, compliant, and ready to take on growth.  

Here are some of the ways outsourced accounting support proves to be essential for small businesses: 

• Manage day-to-day bookkeeping and cash flow with precision. 

• Track expenses and income to monitor profitability. 

• Create financial statements for potential investors. 

• Ensure accurate tax preparation and compliance with regulatory requirements. 

• Generate timely accounting tasks and financial reports to support funding and decision-making. 

Professional Services Firms 

Despite professional services firms operating under the same industry as outsourced accounting support, they can still benefit from expert assistance who are also well-versed in the field of finance and accounting and can help optimize current accounting processes.  

Service-oriented firms such as legal consultancies, finance firms that offer financial advisory services, wealth management firms and even marketing agencies require them to be well-oriented in finance and accounting to be able to help their own clients navigate their goals, operational finances and budget – this is where outsourced accounting support gives them a strategic advantage. 

For firms that are scaling, diversifying their services, wanting to offload time consuming task, or aiming to increase their operational capacity, outsourcing provides access to global talent and cost-efficient solutions that complement their core competencies. The best outsourced accounting services allow them to focus on delivering client-facing value while maintaining strong internal controls and financial health. 

Here are some of the ways professional services firms benefit from outsourced accounting support: 

• Track billable hours and link them to accurate invoicing and revenue reporting. 

• Ensure compliance with local and international financial regulations. 

• Act as an extension of their in-house team and do core tasks whenever needed. 

• Manage clients’ financial data and billing needs. 

• Consolidate financial data across multiple service lines, locations and clientele. 
  
  

Seeing how these 6 industries differ in their operational structure and accounting needs, outsourced accounting is proving to be not just a cost-saving strategy for every business but a way access finance and accounting expertise that is tailored for every industry’s needs.  

Regardless of nature, companies partnering with their trusted outsourced accounting partner and offshore accounting professionals can be assured of scalable services that fit their company’s demands, accurate financial management and compliance and streamline processes to enhance operational efficiency.   

Having an offshore team is a game-changer for industries who are having a hard time coping with the financial requirements needed of them as they operate within their field. If your industry isn’t on this list, consider evaluating your financial processes. You may find that outsourcing could provide the efficiency and peace of mind your company needs to thrive.  

Read Next: Is it Time to Outsource Your Accounting?  

Need Reliable Accounting Support?  

D&V Philippines has made it our priority to stay on top of all the developments in the finance and accounting on a global scale and in the regulations of our clients’ industries.  

With our readiness to adapt to any changes in the field, we are equipped with the necessary tools to help companies achieve success.  

Contact us today and we’ll help you find the right solution for your needs.  

You may also download our Outsourcing: How to Make it Work guide today to find out how we provide quality and secure services.  

First published in November 2024 and Edited on June 9, 2025, by Aly Tagamolila