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High-growth market! Accenture, Alight Solutions, Amdocs driving Finance Accounting BPO sector.

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TLDR:

The global finance accounting business process outsourcing market is projected to grow at a CAGR of 7.85% from 2023 to 2028. Some key contributors to this growth include Accenture Plc, Alight Solutions LLC, and Amdocs Ltd. The market is segmented based on end-users, applications, and geography. Large enterprises are expected to drive significant growth, while North America is projected to be the fastest-growing region. Cost reduction and operational efficiency are driving the market, but challenges such as the inability to offer proven finance accounting services hinder growth.

Key Points:

  • The finance accounting business process outsourcing market is estimated to grow by USD 27.30 billion from 2023 to 2028, with a CAGR of 7.85% during the forecast period.
  • Accenture Plc, Alight Solutions LLC, and Amdocs Ltd. are key contributors to the market’s growth.
  • The market is segmented based on end-users (large enterprises and SMEs), applications (BFSI, IT and telecommunications, manufacturing, healthcare, and others), and geography (North America, Europe, APAC, South America, and Middle East and Africa).
  • Large enterprises are expected to experience substantial growth, as they have complex financial management needs and require outsourcing capable of managing significant transactions and providing advanced financial analysis.
  • North America is projected to contribute 31% to the market’s growth during the forecast period.
  • The focus on reducing operational costs significantly drives
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