Tag: Accountancy Firms

Almost all leading accountancy firms in the UK engage in outsourcing. The practice has been widely successful for these firms, and this trend doesn’t look like it’s about to slow down any time soon. How and why is this type of partnership with offshore accountancy firms so effective and profitable for accountancy firms in the UK? Firstly, accountancy firms in the UK invest in outsourcing because they want to stay competitive. In a recent survey including the top accountancy firms in the UK, 64% stated they are expecting to outsource vital responsibilities to maintain a competitive edge in the UK’s cutthroat accounting industry.67% of the firms stated they plan to outsource “high-value services” as they couldn’t offer these services on their own. Bear in mind – the sur...

The COVID-19 crisis has turned the UK’s accountancy industry upside down. Many small-scale firms are aiming to navigate the pandemic-triggered crisis without redundancies. But many are failing to do so. The accountancy firms that are staying afloat and making the most of the few opportunities presented by the pandemic, all have offshore support. Outsourcing isn’t just a means of cutting costs for these large accountancy firms – it’s the business tactic that’s helping them during this crisis. Understanding the Crisis in the UK’s Accountancy Industry To understand how badly the UK’s accounting industry has been hurt, we just need to look at the four major players in the industry – Deloitte, EY, KPMG, and PwC, Deloitte have all cut down the amount of revenue the...