The Latin America, Middle East and Africa Finance and Accounting Business Process Outsourcing Market would witness market growth of 12.5% CAGR during the forecast period (2022-2028).
Accounting aids in communicating company results to numerous users. Lenders, investors, and other creditors are vital external users of accounting information. Investors may buy shares in the company, while lenders must analyze their risk in determining the lend. Companies must create credibility with these external users through reliable and relevant accounting information.
Proper accounting assists the organization in ensuring accurate reporting of financial assets and liabilities. Tax authorities utilize standardized accounting financial statements to assess a company’s net income and declared gross revenue. The accounting system aids these authorities in ensuring that the company’s financial statements are reported legally and accurately.
Saudi Arabia is anticipated to be one of the leading digital health industries. For healthcare IT and digital transformation programs the government has allocated $1.5 billion in funds. The Ministry of Health has established an e-Health strategy to use telemedicine to enhance the accessibility and care quality in hard-to-reach areas. Saudi Arabia’s telehealth adoption rate is around 70%, and about 34% of young physicians utilize AI to perform diagnoses. Due to innovation and AI, the constantly growing healthcare sector is expected to boost the adoption of business process outsourcing for finance and accounts management, which will surge the market growth in the region.
The Brazil market dominated the LAMEA Finance and Accounting Business Process Outsourcing Market by Country in 2021 and would continue to be a dominant market till 2028; thereby, achieving a market value of $1,569.4 million by 2028. The Argentina market is experiencing a CAGR of 13.1% during (2022 - 2028). Additionally, The UAE market would display a CAGR of 12.2% during (2022 - 2028).
Based on Enterprise-size, the market is segmented into Large Enterprises and Small & Medium Enterprises (SMEs). Based on Industry, the market is segmented into BFSI, Energy & Utilities, Manufacturing, Telecom & IT, Travel & Logistics, Healthcare & Life Sciences, Media & Entertainment, Retail and Others. Based on Service, the market is segmented into Order-to-cash, Source-to-pay, Procure-to-pay, Multi Processed and Record-to-report. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Worldwide Finance And Accounting Business Process Outsourcing Market is Projected to reach USD 93.2 Billion by 2028, at a CAGR of 9.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Accenture PLC, Wipro Limited, Fiserv, Inc., Infosys Limited, Tata Consultancy Services Ltd., IBM Corporation, HCL Technologies Ltd. (HCL Enterprises), Genpact Limited, Capgemini SE, and Sutherland Global Services, Inc.
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