Accounting outsourcing companies: Interesting facts and figures

Updated on: August 18, 2025 – This article has been updated with the latest accounting outsourcing trends, stats, and industry shifts.

The rise of accounting outsourcing has changed how businesses handle their finances. By working with a skilled outsourced accountant, companies can ensure accuracy while focusing on what they do best. This approach is not just about saving money; it’s a smart way to improve efficiency and foster growth.

From access to expert bookkeeping and accounting, support to real time insights via cloud technology. In addition to saving money outsourced accounting services in Australia offer flexibility and precision without the hassle of recruiting in house. As remote working is becoming increasingly common and finance tools get smarted, accounting outsourcing solutions have become a much smarter and scalable choice.

In this post, we will look at the key benefits of accounting outsourcing. We will discuss how these services can improve financial management, enhance reporting accuracy, and support a company’s growth goals. Understanding the advantages of accounting outsourcing is vital for any business wanting to streamline its financial processes.

Some facts and figures about accounting outsourcing companies

• 89% of Australian Government entities have incorporated cloud computing software into their IT ecosystem, mainly using Software-as-a-Service(SaaS) models as of 2023-24 financial year.
• The top challenge faced by small businesses when outsourcing is a lack of cash flow or capital, followed by difficulty in marketing and advertising.
• Around 78% of businesses are feeling positive about their outsourcing relationships.
• Government procurement expenses equaled $99.6 billion, providing immense scope for accounting outsourcing services aligned with digital and local vendor preferences.
• The use of advanced technologies to automate tedious business processes.
• Use of cloud computing software to access secure, real-time information.
  Acquisition of skill sets to complement existing ones.

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Which company in the outsourcing company industry offers the top accounting outsourcing services?

Top Accounting Outsourcing Services Companies offering Best Services:

1. Outbook (Australia)

The outbook is a major accounting outsourcing provider with a strong appearance in Australia. They offer extensive bookkeeping methods, payroll, payable and receivable management, and financial reporting services.

With a team of 11 years of experience and certified professionals, the outbook helps customers to save more than 60% at the cost, ensuring accuracy, safety and timely delivery. Their flexible engagement models and 24/7 communication make them a trusted partner for businesses and accounting firms, including many accountants Brisbane engage with to streamline operations and efficiency.

As a specialised bookkeeping firm partner, Outbook supports practices with scalable resources for reconciliations, AP/AR, payroll, and reports to maintain compliance.

2. Toa global

Known for their skilled team of accountants, toa Global acts with offshore accounting professionals dedicated to Australia’s several top account firms. They are experts in remote accounting teams and nearby staffing, which help businesses to overcome the challenges of time sector and ensure high quality financial management.

3. KPMG

A global leader provides finance and accounting outsourcing in accordance with KPMG regulated industries and multinational companies. Their vast industry knowledge and compliance expertise makes them a top option for companies requiring strong financial services.

Accounting outsourcing trends

Here are the top trends that are shaping the world of outsourcing.

Data security becomes top priority

As cyber threats rise, data protection in accounting outsourcing has now become non-negotiable. Australian businesses are now emphasising secure platforms based on encryption, MFA (multi-factor authentication), and local data hosting. Additionally, data security laws are set to be tightened, and organisations should take strict action against sources that breach valuable data.

The main task for most accountants is to prioritise data security while dealing with clients. They will need to take important steps to preserve and protect clients’ data, including achieving necessary security accreditations. Ensuring proper handling of personally identifiable information (PII) is crucial to maintain privacy and security.

Cloud accounting

Cloud accounting software has made outsourced accounting services in Australia far more convenient and cooperative. It enhances the user experience in the accounting world, provides real-time data sharing so that businesses and outsource accountants are on the same page with solutions like Xero and QuickBooks. This flexibility is particularly ideal for remote and hybrid teams, business owners from Melbourne to Perth can now manage their books securely at anytime, anywhere which eliminates delays and improves accuracy.

With the help of cloud accounting, there is a significant rise in outsourcing accounting services at a low cost. Therefore, cloud accounting provides an easy way to access financial records in real-time. Besides, it provides bookkeeping services at a cheaper rate.

Artificial Intelligence (AI) transformed accounting processes

This is widely known that AI has shifted accounting outsourcing from tedious number crunching to real time, smart processing. Functions such as data entry, input and reconciliation are now executed quicker and correctly, which makes businesses stand out and always one step ahead.

AI and machine learning enable service providers to offer more than just basic bookkeeping. Predictive analytics help analyze past data for better forecasts and spending patterns, while machine learning detects irregularities to improve accuracy. This technology empowers businesses to make informed decisions about investments and budgets. By outsourcing to firms that use AI and ML, companies can gain a competitive advantage.

Choose high-value accounting services

Building a valuable accounting team in 2025 requires embracing technology and specialization. Prioritize data security and cloud accounting expertise. Consider outsourcing repetitive tasks to gain access to specialized skills and focus on core functions.

Outsourcing is not just about using an external service provider to complete repetitive, time-intensive duties such as payroll and bookkeeping. The new breed of outsourced accounting services access to more advanced specialist skill sets. This makes practices stand out from the competition and accentuate their core services.

Businesses and practices choose outsourced bookkeeping services for tons of benefits. But the major benefit is cost-efficiency.

Use of technology

The accounting outsourcing industry in India is increasingly using technology like automation and AI. This shift changes how financial data is processed and managed.

• Automation: Software now handles routine tasks such as data entry and invoice processing, which reduces errors and saves time.
• Analytics: AI tools provide insights into financial health, helping businesses spot issues and forecast trends.
• Cloud Computing: Cloud platforms allow real-time access to financial data, making collaboration with outsourcing partners easier.

These technologies help Indian companies improve their accounting processes and focus on other important areas.

Improved data security

Top accounting service providers in India are enhancing their security measures to protect client data from breaches. Key security practices include:

• Data Encryption: This keeps sensitive financial information private.
• Multi-Factor Authentication (MFA): MFA ensures that only authorized personnel can access data.
• Regular Audits: These help identify weaknesses in the system and protect against cyber threats.

By following global security standards, businesses can trust their outsourcing partners with confidential information.

Cost efficiency

Outsourcing reduces the costs associated with recruiting, training and keeping in-house staff. In return, companies access trained experts and advanced accounting software for a fraction of the expense, the ideal solution for startups and SMEs. This allows firms to invest more in core activities like marketing and product development.

Blockchain technology

Blockchain has become a vital tool for improving outsourced accounting services. It ensures that all transactions are time-stamped and secure, creating an auditable trail. With blockchain, businesses can monitor transactions in real-time, reducing errors and fraud. This transparency builds trust between companies and their outsourcing partners.

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FAQs

What is accounting outsourcing and how it works in Australia?

Accounting outsourcing in Australia involves hiring external experts or firms to manage tasks like bookkeeping, payroll, financial record-keeping, and reporting. This allows businesses to benefit from professional services, advanced tools, and best practices without the need to invest in a full in-house team.

Why are firms in Melbourne opting for outsourced accounting solutions?

The reasons are very clear: flexibility, affordability and access to the best experts. Outsourced accounting solutions is a strategic necessity for SMEs hoping to expand their business without the loss of financial accuracy.

Is bookkeeping outsourcing in Australia secure?

Yes, reputable accounting firms based in Australia utilise encrypted cloud environments, MFA, and adhere to the Australian Privacy Act 1988 and ATO data protection rules, protecting client information and keeping it confidential and secure.