The Top 6 Businesses For Outsourced Financial Work

When you have a business to run, there are so many different areas you have to cover. You can become very swamped very quickly and very easily. From managing your business finances to ensuring the quality is always there, you never really get to rest. That’s where outsourcing financial work can come in. 

Outsourcing is great for saving time and reducing costs. You’ll gain specialist expertise, and you’ll be able to focus on more pressing issues that you’re good at. 

Not all providers are the same, however. Below, we are going to go through six firms that regularly deal with outsourced financial work, especially. We’ll talk about who they are, what they’re good at, what they may lack, and who they’re best for. Let’s begin: 

Felcorp Support

Felcorp Support is a financial services BPO that provides businesses in a wide range of countries with offshore staffing and back-office operations. Residing in the Philippines and India, they are aligned with Australian regulatory standards and are looking to move to the UK and the US. They are compliance-focused. Their professionals are fully trained and experienced.

Their strengths:

• Cost-effective due to the base location.
• A real focus on financial services like accounts and insurance.
• Transparent pricing. Great for budgeting as well as performance tracking.
• Big on compliance and alignment with regulatory guides.

Points to consider:

• Much smaller than global consultancies. Might lack in areas where larger companies thrive.
• An offshore model may not fit your preference or compliance. 

Ideal for: 

Accountants, insurance agencies, or financial advisors that are looking for compliant, offshore teams with transparent reporting. 

The Hackett Group 

The Hackett Group is a larger firm with a more established place. It is a global benchmarking and advisory company that can provide finance transformation alongside finance outsourcing services. They are big on technology-driven automation. You’ll often find them working with larger enterprises.

Their strengths:

• Excellence regarding analytics, digital transformation, and automation. 
• They have a proven track record and a deep benchmarking database.

Weaknesses: 

• Smaller businesses may not feel suited to their services just yet. 
• They’re typically focused on enterprise clients. 

Ideal for: 

Larger organizations looking for significant financial transformation and advanced automation. Not those seeking lower-cost offshore staffing. 

Hillier Hopkins 

With Hillier Hopkins, you’ll have a chartered accountancy firm based in the UK. They offer an array of outsourced finance services. From bookkeeping to VAT returns, they can provide plenty for businesses up and down the land. They have several offices located around the country. 

Their strengths:

• Relationship-focused.
• Plenty of experience with small and medium-sized businesses.
• Can provide a full service of day-to-day finance functions.
• Perfect for anyone living in and around the UK. 

Weaknesses: 

• Primarily working with businesses in the UK, so not much wiggle room for those further ashore. If you desire scale across multiple countries, this is a less likely option.

Ideal for: 

A small or medium-sized business that wishes to work with a trusted UK firm. Perfect if you need a high-quality outsourced finance team or extra help for your internal finance team.

Butt Miller

Butt Miller is a chartered accountancy firm that offers financial management services and outsourced accounting to small and medium-sized businesses. Also based in the UK, they can handle a wide range of financial services. From payroll to day-to-day operations, they’ll provide solutions that fit their clients’ needs.

Their strengths:

• Local engagement and a personalized service model for each client. 
• A strong focus on small and medium-sized enterprises. 

Weaknesses: 

• Might not be the perfect fit for large businesses looking for large-scale outsourcing. 

Ideal for: 

Small businesses within the UK, focused on accounting or bookkeeping, that are looking for a reliable outsourcing service. 

Armstrong Watson 

Armstrong Watson is a leading independent accountancy and advisory firm. They serve clients across 16 different locations. They provide outsourced accounting, payroll, and finance operations support, but can also provide audit and tax services. They’ve been established for over 150 years and have cemented their place in the finance world. Blending heritage with innovation, they can help clients modernize their financial tools, too. 

Their strengths:

• Working on cloud servers and client portals for a smooth delivery of outsourced work. 
• The ability to support complex account and advisory needs. 

Weaknesses: 

• Not an offshore BPO specialist. Mainly work with UK businesses instead of low-cost offshore staffing. 

Ideal for: 

UK businesses needing a multi-service accountancy partner that can be relied upon.

Price Bailey Chartered Accountants

Price Bailey is a respected UK chartered accountancy firm that also delivers business advisory services. They can provide outsourced finance, accounting, and payroll services to a wide range of clients. With offices around the country, they can work domestically and internationally. They combine strategic guidance with hands-on outsourcing.

Their strengths:

• A full range of business advisory and accounting options. From outsourced accounting to payroll services. 
• Published insights and guidance for clients. 

Weaknesses: 

• As is typical of a lot of traditional accountancy firms, they do not primarily work as an offshore BPO specialist. Offshore staffing models are not what you get here. 

Ideal for: 

Ideal for businesses hoping to work with a traditional chartered accountancy service. One that allows them to combine the option of outsourcing day-to-day finance tasks to a local firm. 

Conclusion

If you are looking for a specialized and compliance-oriented offshore financing with robust workflow reporting, Felcorp Support is likely the firm for you. With transparent pricing, they sit at the sweet spot for what you might need. They’ll combine financial expertise with transparency, a quality that many traditional companies don’t advertise and often struggle to deliver. 

If you are chasing larger transformation programs or enterprise benchmarking, The Hackett Group might be the right fit. Butt Miller and Price Bailey are brilliant UK-based outsourced finance groups that can provide you with the right financial services. 

Any business hoping for a partner that is built especially for financial services outsourcing should look for Felcorp Support primarily. By comparing their work and scope with others, your decision will become a lot clearer.