Accounting plays a vital role in every business, from monitoring income and expenses to ensuring compliance with regulations and producing accurate financial reports. For many companies, especially those without a dedicated in-house team managing these tasks can be both challenging and time-consuming. To overcome this, businesses often outsource their accounting functions to specialized BPO (Business Process Outsourcing) providers. The Philippines is recognized globally as a top outsourcing hub that offers a well-established network of accounting BPO firms that serve a wide range of industries. However, with the outsourcing landscape shifting, Malaysia is quickly emerging as a strong option offering skilled accounting talent at competitive rates. In this blog, we’ll explore the top 15 accounting BPO firms in the Philippines and why Malaysia is becoming an increasingly compelling choice for outsourced accounting solutions.
Content Outline
Key Summary
Importance of Accounting Outsourcing
Accounting is vital but resource-intensive, leading many companies to outsource to specialized BPO firms.
Philippines as a Leading Accounting BPO Hub
The Philippines offers cost-effective, government-supported, and culturally aligned accounting outsourcing services with a mature BPO infrastructure.
Top Accounting BPO Firms in the Philippines
The blog lists 15 reputable firms providing a wide range of finance and accounting services to various industries.
Malaysia as a Competitive Alternative
Malaysia is emerging as a strong outsourcing destination offering skilled accounting talent at competitive costs, with excellent English proficiency and business compatibility.
FastLaneRecruit: Malaysia Talent Partner
FastLaneRecruit helps businesses build efficient offshore accounting teams in Malaysia, offering flexible hiring models, cost savings, and full employer-of-record services
Why Businesses Outsource Accounting To The Philippines
The Philippines has solidified its position as a global BPO leader with thousands of firms servicing nearly every industry. Several key factors explain why companies choose the Philippines for outsourcing accounting functions:
Cost Efficiency: The most compelling advantage is the significant cost savings. Outsourcing to the Philippines can reduce salary and overhead costs by up to 70% compared to many Western countries. Besides lower wages, companies save on recruitment, onboarding, and infrastructure expenses, which streamlines operational costs dramatically.
Government Support: The Philippine government actively supports the BPO industry recognizing its economic importance. Through incentives like tax breaks and grants especially for firms accredited by the Philippine Economic Zone Authority (PEZA) the environment is favorable for BPO investment and growth.
BPO-Friendly Infrastructure: Beyond incentives, the country boasts advanced telecommunications, reliable power supplies, and modern office facilities designed to support continuous BPO operations. The government continues to invest in infrastructure to maintain competitiveness despite strong regional rivals.
Cultural and Language Alignment: Filipinos’ strong English proficiency and cultural affinity, particularly with the United States and other Western nations, facilitate smooth communication and business understanding. This cultural compatibility reduces friction and enhances collaboration between outsourced teams and their client companies.
Also Read: Why Do Companies Choose to Outsource?
Top 15 Accounting BPO Firms In The Philippines
1. Innovature BPO
Innovature BPO provides expert finance and accounting outsourcing with a strong presence in Cebu, Vietnam, and the US. The firm offers a wide range of services including accounts payable and receivable, bookkeeping, payroll, tax compliance, financial reporting, budgeting, advisory, and audit services.
2. Connext
Connext Global Solutions specializes in back-office BPO staffing, delivering highly skilled professionals since 2014. Utilizing seamless cloud technology, they build remote teams that help businesses operate efficiently and overcome staffing challenges.
3. Outsourced
Outsourced is a premier provider of offshore staffing based in Quezon City, offering accountants, CPAs, payroll assistants, auditors, and financial planning support. Their dedicated remote teams help businesses across industries scale quickly and cost-effectively.
4. Cloudstaff
Cloudstaff provides innovative outsourcing solutions through a platform of remote teams available 24/7. Serving organizations of all sizes, they combine talented professionals with advanced technology to manage accounting and administrative tasks efficiently.
5. KG Consult Group Inc.
Based in Makati, KG Consult Group offers comprehensive accounting and consulting services tailored for startups, MSMEs, and multinational clients. Their offerings include bookkeeping, financial statement preparation, accounts receivable management, CFO services, and tax compliance.
6. Davao Accountants
A boutique firm headquartered in Davao, led by a CPA-lawyer, this company combines expertise from CPAs and legal professionals. Their services cover outsourced digital accounting, payroll, bookkeeping for eCommerce, tax compliance, training, and business consultancy.
7. TrendStatic Corporation
Located in Ortigas Center, Pasig, TrendStatic blends IT and accounting solutions to support SMEs and startups. Services include outsourced accounting, payroll software and processing, finance supervision, business process review, and tax compliance.
8. Accubooks Inc.
Accubooks is a certified accounting solutions provider with offices in Makati and Toronto. Managed by senior CPAs, they deliver services such as accounts reconciliation, payroll, bookkeeping, financial analysis, 24/7 support, and business continuity planning.
9. Tiu and Associates Group
Specializing in family businesses and privately held companies, Tiu and Associates offers management consulting, accounting, tax advisory, auditing, and company incorporation services, helping clients optimize financial and business strategies.
10. OutsourceYourAccounting
Operating within the Clark Economic Zone, this subsidiary of Clark Outsourcing International started as a small team of certified accountants. They provide payroll management, accounts payable/receivable, tax preparation, and accounting consulting.
11. MPM Consulting Services Inc.
MPM delivers SaaS and outsourcing services to micro and small enterprises. Their accounting support includes digitization of receipts, BIR-compliant books, automated tax filing, asset depreciation monitoring, employee records management, and payroll computations.
12. Magellan Solutions
Focused on SMEs and large enterprises alike, Magellan Solutions in Mandaluyong City provides accounts receivable and payable services, along with debt collection solutions, helping clients maintain healthy cash flow.
13. Profitmaster BPO
Profitmaster offers remote accounting and administration support with expertise in top accounting software like XERO, QuickBooks, and MYOB. Their services cover bookkeeping, accounts preparation, credit control, invoicing, payroll, and year-end reporting.
14. Deployed
Based in Pasig’s Ortigas Center, Deployed delivers outsourcing solutions including accounting and payroll functions. They staff qualified management accountants with a minimum of three years’ experience to support client financial operations.
15. Innovature BPO (Cebu & International)
Also highlighted for their award-winning services, Innovature BPO’s Cebu and international offices serve clients across North America, Australia, and Asia-Pacific. Their accounting capabilities encompass general accounting, closing and reporting, treasury, and tax services.
Also Read: Hiring Malaysian Talent: Employer of Record Malaysia Guide
Exploring A Competitive Alternative: Outsource Accounting Functions to Malaysia
While the Philippines remains a leading choice for accounting BPO services, Malaysia is rapidly emerging as a strong alternative outsourcing destination in the Asia-Pacific region. Several advantages make Malaysia an attractive option for accounting functions:
- Cost-Effective Talent Pool
Malaysia offers competitive labor costs that, in many cases, rival or beat those of the Philippines, providing excellent value without compromising quality. - High-Quality Skilled Workforce
Malaysia produces a large number of qualified accountants and finance professionals annually. Many hold internationally recognized certifications such as CPA, ACCA, and CMA. - Business and Cultural Compatibility
English is widely spoken, and Malaysian professionals are well-versed in Western business practices, making integration with global teams seamless. - Strategic Location and Time Zone
Malaysia’s location supports convenient real-time collaboration with businesses in the Asia-Pacific region, including Australia, Hong Kong, and Singapore.
Accounting tasks commonly outsourced to Malaysia include accounts payable/receivable, payroll processing, tax compliance, bookkeeping, financial reporting, and virtual CFO services.
Also Read: Outsourced Accounting – Frequently Asked Questions (FAQ)
Conclusion
Outsourcing accounting processes is a proven strategy to reduce costs, improve efficiency, and access specialized expertise. The Philippines remains a dominant player with a mature ecosystem and proven track record. However, companies seeking a fresh, cost-competitive alternative should consider Malaysia’s growing pool of highly skilled accounting professionals.
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