Companies opt for a synergy between an in-house accountant and an external accounting provider.

In the bustling business landscape of Russia, the accounting outsourcing market is experiencing significant growth. In 2023, numerous companies reported a 20% or more increase in revenue compared to the previous year, with "Capital" A&C Group leading the pack with a remarkable 57.1% increase.

The company "Accountant" holds the title for the highest number of legal entity clients using accounting outsourcing services, boasting 634 clients in 2023. It's worth noting that the cost of outsourcing services continues to rise, a trend that Yulia Mazeina, head of the Audit and Accounting Company "Schetovod", expects to persist into 2024.

Mazeina also highlighted that in 2023, the most affected industries were producers and consulting services due to staffing issues. As a response, we can expect the specialization and niching of outsourcing companies to become more prevalent in the near future.

Automation and AI are expected to drive down relative costs in the accounting outsourcing market, making it more efficient and cost-effective for businesses. The most technologically advanced providers offering the best price-quality ratio will likely dominate this market.

Businesses are increasingly trusting accounting outsourcing, delegating the organization of accounting, quality control over accountants, and gaining access to specialists nationwide. However, low-quality service providers may only be identified after an extended period of service, which can result in wasted time, money, and effort for entrepreneurs.

The city of Yekaterinburg, in particular, is home to a thriving accounting outsourcing market. The ranking of leading outsourced accounting companies in Yekaterinburg by service revenue in 2023 includes "Capital" Audit and Consulting Group, "Accountant" Audit and Accounting Company, "FinExpert-Yekaterinburg", "Uralfinans", "PROFESSIONALS. Accounting Services. Legal Services", "Formula", "Center "Accounting and Law", "Consulting Company "Grossbuch", "A-FINANCE", "Atika", "Outsourcing Bureau Lefterova", "Expert", "GK "LEV&LEV-AUDIT", and "Expert. Accounting Solutions".

Two of the top outsourcing accounting firms based in Yekaterinburg with headquarters founded in the city are BDO Russia and KPMG Ural.

In a bid to support small and medium-sized businesses, the state is proposing an amnesty for tax optimization schemes in 2024. However, increased control over "infobusiness" and more attention to detecting division schemes are expected in 2024-2025.

With over 600 accounting outsourcing companies or sole proprietors competing in the market of Yekaterinburg and the Sverdlovsk region, businesses have a wealth of options to choose from. The highest turnover per client is at the company ACK "Capital" - 1.077 million RUB, while the highest turnover per accountant is at the company "Accountant" - 6.949 million RUB.

Established in 2002, "Capital" Audit and Consulting Group holds the year of foundation of the oldest company in this thriving market. As the Russian accounting outsourcing market continues to evolve, it's clear that it will play a crucial role in supporting businesses and driving economic growth in the country.

Companies opt for a synergy between an in-house accountant and an external accounting provider.