Top 15 accounting BPO firms in the Philippines
- OPKO Finance
- KG Consult Group Inc.
- Davao Accountants
- TrendStatic Corporation
- Accubooks Inc.
- Tiu and Associates Group
- MPM Consulting Services Inc.
- Magellan Solutions
- Profitmaster BPO
- Innovature BPO
Accounting processes are among the essential functions of businesses.
The importance of tracking income and expenditures, ensuring statutory compliance, and creating accurate financial reports cannot be overstated.
However, the amount of work associated with accounting processes can be cumbersome for companies without a dedicated accounting department.
Such companies often outsource their accounting functions to accounting BPO firms.
As the world’s outsourcing capital, the Philippines has no shortage of such firms.
This article lists the top accounting BPO firms in the country.
Why businesses outsource accounting services to BPOs in the Philippines
The Philippines is home to thousands of BPO firms catering to virtually every industry in the market.
As a global outsourcing powerhouse – and recognized as the world’s outsourcing capital – the Philippines has become a go-to for many companies seeking outsourcing solutions.
The country’s outstanding reputation for being an ideal outsourcing destination is due to a number of factors:
Significantly lower labor costs and other overhead expenses savings are one of the main selling points of outsourcing to the Philippines.
Investors outsourcing to the Philippines save as much as 70% on salary costs due to the differences in living costs between their country and the Philippines.
Aside from a cheaper labor market, outsourcing to the Philippines also saves investors time and money on end-to-end recruitment, hiring, and onboarding of new employees.
Strong government support
The Philippines’ national government recognizes the economic gains that the BPO industry brings to the country.
The country’s government has gone to great lengths to make the Philippines even more appealing to BPO investors.
BPO firms in the country are granted tax perks and other business incentives, provided they comply with the minimum requirements for PEZA accreditation.
BPO-conducive environment and infrastructure
Besides enjoying strong support from the government, the BPO industry also benefits from the Philippines’ BPO-friendly environment.
The country’s existing infrastructures are conducive to BPO operations.
Though it remains second to India, the Philippines remains committed to investing in creating more infrastructures to support BPO operations.
Cultural alignment with Western countries
Compatibility with Western culture – the US, in particular – is another selling point of the Philippines to BPO investors.
Being a former colony of the US, Spain, and Japan, cultural adaptability has become ingrained in the Filipino people.
Top 15 accounting BPO firms in the Philippines
Connext Global Solutions is a back-office Business Process Outsource (BPO) service provider in the Philippines. The firm has been providing highly skilled professional staffing services at a minimal cost since 2014.
Enabled by seamless cloud connectivity, Connext Global Solutions solve the staffing challenges of their clients. The firm achieves this by building exceptional remote teams that contribute to the smooth running of their client’s businesses.
Outsourced is one of the top outsourcing companies in the Philippines, offering high-quality offshore staffing and dedicated remote staff services. Outsourced provides the most efficient, qualified workforce members who consistently perform beyond expectations, providing top-notch offshore solutions to all of its clients.
From its cutting-edge offices in Quezon City, Manila, Outsourced makes it possible for its client companies in a wide range of industries to scale quickly, rapidly, and cost-effectively by providing dedicated remote staff.
Outsourced provides the following services:
- Payroll assistants
- Mortgage brokering and financial planning assistants
D&V Philippines is one of the leading business process outsourcing (BPO) firms focusing on finance and accounting, audit, and admin-related support based in Makati City — the financial center of the Philippines.
The company started with a handful of accountants and went on to become one of the fastest-growing companies in the Philippines and in Asia-Pacific.
D&V Philippines provides the following services:
- Right Hand CFO Solutions
- Business Analysis and Reporting
- Audit Assistance & Preparation
- Robotic Process Automation
- Bookkeeping & Management Accounting
- Compliance & Tax Preparation
- Business Analytics
- Specialized services for Australian clients
- Compliance and Tax Preparation
- Self-Managed Superannuation Fund (SMSF) services
4. OPKO Finance
OPKO Finance is an accounting, HR and tax assistance, BPO, and advisory services provider that caters to SMEs.
It helps these businesses optimize their operations by leveraging their support functions, such as accounting, HR, and other administrative roles.
OPKO Finance has offices in Cebu City, Hong Kong, Paris, Shanghai, and Singapore, bringing international expertise to its clients.
The firm’s accounting services include:
- Tax declarations
- Treasury and other administrative functions
- Transaction services
KG Consult Group Inc. is an accounting and consulting firm that caters to startups, MSMEs, multinational companies, and investors wanting to do business in the Philippines.
The Group provides outsourcing solutions for other companies’ accounting and bookkeeping needs. It is headquartered in Makati City, Metro Manila.
KG Consult Group’s outsourced accounting and bookkeeping services include:
- Full accounting and bookkeeping services
- Financial statements preparation
- Assistance in collecting accounts receivable
- Accounting system design and implementation
- Financial controller services
- CFO services
- Accounting and auditing firms back-office support
- Accounting policy preparation
- Complete package accounting, tax, payroll, and compliance services
Davao Accountants is a homegrown boutique professional services firm founded by a CPA lawyer with extensive experience in the government, corporate, academia, and public sectors.
This Davao-based boutique firm’s staff is comprised of experienced CPAs, lawyers, and other business experts.
Davao Accountants’ services include:
- Outsourced digital accounting
- Payroll outsourcing
- Outsourced accounting team
- Accounting and bookkeeping for eCommerce businesses
- General bookkeeping
- Tax compliance
- Accounting training and workshop
- Accounting for freelancers
- Business consultancy
- Business organization
TrendStatic Corporation is a business solutions provider in the heart of the Ortigas Center business district in Pasig City, Metro Manila.
The company caters to SMEs, startups, and other enterprises.
TrendStatic’s services include:
- Outsourced accounting services
- Payroll software and outsource services
- Finance supervision
- Business process review
- Financial statement analysis
- Tax compliance
This company utilizes its expertise in the fields of IT and accounting to help other businesses achieve their goals and objectives.
Accubooks Inc. adds the expertise of Certified Accountants to the benefits gained when companies outsource.
This outsourced accounting solutions provider has offices in Makati City, Metro Manila, and Toronto, Canada.
This firm’s management is headed by senior-level certified accountants with extensive experience in both accounting and business process outsourcing.
Accubooks Inc.’s services include:
- Accounts receivable/payable reconciliation
- Bank reconciliation
- Other ledger account reconciliation
- Payroll and bookkeeping services
- Financial analysis and reporting
- Management reporting
- 24/7 support services
- Specialized accounting functions
- Business continuity plan
Tiu and Associates Group is a management consulting and CPA firm specializing in helping privately held companies and family businesses.
The Group assists these companies by providing accurate accounts reporting and business advisory.
It helps in restructuring debt and accounting systems, tax advisory, and audit and management consultancy.
Tiu and Associates Group’s services include:
- Assurance and advisory
- Corporate tax
- Company incorporation
- Sole proprietorship
OutsourceYourAccounting is a subsidiary of Clark Outsourcing International, operating in the Philippines’ Clark Economic Zone.
Starting out as an experimental offshoot into accounting BPO, OutsourceYourAccounting now has a small team of nine certified accountants.
The firm’s services include:
- Payroll services
- Accounts payable and receivable
- Tax preparation
- Accounting consulting
MPM Consulting Services Inc. is a provider of software-as-a-service (SaaS) and outsourcing solutions for micro and small enterprises (MSEs).
It offers outsourced accounting and payroll services to other businesses to help them focus on their core business processes.
The company’s accounting and payroll services include:
- Digitizing sales receipts and invoices
- Printable BIR accounts book
- Automated tax preparation and filing
- Monitoring of receivables, payables, and assets depreciation
- Employee records and documents management
- Computation of leaves, tardiness, absences, etc.
- Computation of government deductions, payroll, recurring earnings, etc.
Magellan Solutions is a BPO dedicated to providing world-class outsourcing solutions across various industries.
This firm primarily focuses on SMEs, but it also caters to large enterprises, including one Fortune 50 Telco company.
Its Philippines headquarters are located in Mandaluyong City, Metro Manila.
Magellan Solutions’ accounting BPO services include:
- Accounts receivable services
- Accounts payable services
- Debt collection services
13. Profitmaster BPO
Profitmaster BPO is a Philippines-based provider of remote accounting, administration, and digital marketing staff.
As a BPO firm specializing in accounting services, Profitmaster BPO possesses leading-edge accounting software, such as XERO, Quick Books, MYOB, Cashflow, and Banklink.
Profitmaster BPO’s outsourced accounting services include:
- Accounts preparation
- Credit control
- Debt collection
- Expense claims
- Payment chasing and processing
- Year-end preparation
Deployed is another outsourcing solutions provider operating in the Ortigas Center business hub of Pasig City, Metro Manila.
This firm offers various outsourcing services for businesses, including accounting and payroll operations.
Deployed helps its clients meet their accounting needs through outsourced roles, including management accountants with a minimum experience of three years.
15. Innovature BPO
Innovature BPO is a service provider helping businesses in North America, Australia, and the Asia-Pacific grow through outsourcing services.
This Vietnam-based outsourcing firm also has operations in Cebu City and Richardson, Texas. It has been the recipient of several awards for delivering quality services.
Innovature’s accounting BPO services include:
- General accounting
- Closing and reporting
- Accounts payable and receivable
- Financial planning and analysis
- Payroll processing
- Audit services
- Tax services