Pearl of the Orient Seas, Land of Karaoke, and now the world’s second largest outsourcing delivery location—that’s the Philippines.
From its first contact center in the early 90s, the country has grown its capability to offer non-voice services beyond customer experience. Among these, Banking, Financial Services, and Insurance (BFSI) commands over 25% of market share, making it the largest segment supported by Filipino professionals.
Within the BFSI sector, finance and accounting (F&A) services have reached a high level of maturity and delivery capability. In this blog, we’ll explore the factors driving this success and share our list of leading providers of outsourced accounting services in the Philippines.
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Why are Firms Outsourcing Accounting to the Philippines?
The short answer is necessity. Fewer young people are interested in or can afford to follow in the footsteps of retiring veterans.
In the United States, for example, the number of accounting graduates decreased by 7.8% from 2021-2022, accelerating a downward trend that has been developing since the academic year 2015-2016. This shortage has led firms to make errors in financial statements or, most painful yet, turn away new work.
To minimize these consequences, firm owners are looking outside their localities to hire qualified professionals. Of the many options, the Philippines gets consistently cited in the top three outsourcing destinations.
Beyond attractive cost savings, the country offers multiple advantages that address the ongoing talent crisis in major markets. Below, we name four.
Skilled and English-Proficient Talent Pool
A Bachelor of Science in Accountancy is among the most popular degree programs in the Philippines, with high enrollment rates in major cities like Metro Manila and Cebu. 2025 marks the 102nd anniversary of the government’s formal recognition of the profession, arguably the oldest in Asia.
Given the rigorous training accredited universities provide, thousands graduate every year with a strong knowledge of accounting processes. And within a couple of years, many acquire exposure to international accounting standards through working with overseas clients or, at the very least, become equipped to undergo further training for specific requirements.
Their technical expertise, combined with the high English fluency generally known of the country (22nd in the world, 2nd in Asia), makes Filipino professionals an excellent complement to the in-house accounting team of global firms and businesses.
Strong Government Support
Building on the talent advantage and recognizing its role in spurring economic growth, the Philippine government has cultivated an environment that supports the outsourced accounting services industry. They’ve created tax incentives, invested in telecommunication infrastructure, and passed data privacy legislation.
The industry also has enablers and advocates in agencies like the Board of Investments (BOI) and the IT and Business Process Association of the Philippines (IBPAP), both of which contribute efforts to maintain a stable environment for long-term business partnerships.
Regulatory Compliance and Security
Many providers in the Philippines operate in purpose-built facilities with reliable power and internet connectivity. Outsourced accounting teams use platforms and internal processes that meet international standards for cybersecurity and business continuity, including General Data Protection Regulation (GDPR) and Service Organization Control Type 2 (SOC 2).
These investments refute the misconception that outsourcing exposes firms to greater cybersecurity risks. On the contrary, reputable providers spend considerable dollars on cybersecurity because they value their clients’ trust in handling confidential financial data.
Time Zone Advantages
As American firms and businesses sleep, their outsourced accounting teams in the Philippines can continue processing transactions, preparing financial statements, and handling month-end closes, effectively extending the working day. This model allows local internal accounting teams to focus on higher-value activities during their regular business hours.
Top Providers of Outsourced Accounting Services in the Philippines
With growing demand for Filipino accounting talent, we’ve listed eight providers that have established themselves as reliable outsourced accounting firms. Understanding that businesses have different needs, we’ve organized our list into two categories: those that specialize exclusively in F&A services, and those that offer accounting functions as part of a broader portfolio.
We’ve also chosen to focus on outsourcing providers whose operations are primarily based in the Philippines, excluding global giants like Deloitte, SGV, Accenture, KPMG, and PwC, despite their strong presence in the country.
Specialized Providers
TOA Global (as of 5 August 2025)
Philippine Delivery Centers: Metro Manila, Clark, Tarlac, Cebu
We can’t miss adding ourselves to this list because TOA Global has been connecting the accounting and bookkeeping industries in North America, Australia, and New Zealand to world-class Filipino talent for over a decade now.
While our 4,180+ offshore professionals are vetted to be job-ready, they undergo role-aligned training and career development programs through our registered training division, the Ab2 Institute of Accounting. This investment ensures they meet and evolve with industry standards, leading to deeper expertise and long-term value for our clients.
Industry Alliances (among others):
- BDO
- Alliott Global Alliance
- AGN International
- ANTEA – Alliance of Independent Firms
Services Offered:
- AU and US-trained accountants and bookkeepers
- Non-accounting support roles
- Learning pathways through the Ab2 Institute of Accounting
D&V Philippines (as of 5 August 2025)
Philippine Delivery Centers: Metro Manila
Established in 2012, D&V Philippines supports CFOs and professional services firms with customizable solutions for their finance and accounting needs. The company particularly stands out for its specialized financial planning and wealth management as well as its strong corporate finance and controllership expertise, powered by a roster of 800 experienced professionals.
Accounting Services Offered:
- Accounting roles
- Audit support covering planning, execution, and conclusion
- CFO firms support
- Wealth management and financial planning
MYCPE ONE (as of 5 August 2025)
Philippine Delivery Centers: Clark
MYCPE ONE positions itself as an ecosystem exclusively for CPA and accounting firms, combining and making accessible all essential services in one place.
The company was born from a merger between outsourced staffing provider Entigrity and CPE services provider MYCPE in November 2024. They aim to empower over 500 firms to establish their own offshore operations in the Philippines.
Accounting Services Offered:
- Finance and accounting roles
- Non-accounting support roles
- Direct hire recruitment for firms
- Captives
- Mergers and acquisitions advisory
- Digital marketing and website solutions
- Continuing education (CPE)
Scrubbed (as of 5 August 2025)
Philippine Delivery Centers: San Fernando, Pampanga
Scrubbed started as a dream shared by two Filipino finance professionals working for one of the Big 4 in the United States. Tapping into the talent pool of their home country, they’ve grown the company into a workforce of over 1,000 Scrubbees, catering to niches generally not tapped by most providers of outsourced accounting services. These include clean tech, life sciences, and biotechnology.
Accounting Services Offered:
- Full-service bookkeeping and accounting
- Tax compliance and advisory
- Corporate finance
- CFO support
- Data and analytics
- ESG consulting
Multi-Industry Providers with Finance and Accounting Solutions
Cloudstaff (as of 5 August 2025)
Philippine Delivery Centers: Clark, Metro Manila, Tarlac, Davao, Cebu
Cloudstaff operations span five major cities in the Philippines, powered by a workforce of 10,000. They have broad operational experience across various sectors, allowing them to optimize solutions for a wide range of business needs.
Their accounting professionals are proficient in major accounting software and familiar with Generally Accepted Accounting Principles (GAAP). The common functions they support include accounts payable and accounts receivable, tax compliance, and financial reporting processes.
Services Offered:
- Finance and accounting
- Administration
- Construction
- Customer support
- Debt collection
- Digital marketing
- E-commerce
- Real estate
- Software development
- Tourism and travel
Emapta (as of 5 August 2025)
Philippine Delivery Centers: Metro Manila, Cebu, Baguio, Davao
Emapta provides offshore and nearshore staffing support to over 1,000 clients in more than 30 countries. They boast stringent data security compliance, with certifications like ISO 27001, SOC 2, and HIPAA.
This Certified B Corporation strives to connect businesses with the “top 1%” of Filipino accounting professionals for roles like AP and AR specialists, mortgage brokers, loan processors, tax accountants, and auditors.
Services Offered:
- Finance and accounting
- Backoffice administration
- Customer service
- Database administration
- Data security
- Engineering
- HR services
- Network operations
- Technical support
- Sales
Microsourcing (as of 5 August 2025)
Philippine Delivery Centers: Metro Manila, Cebu
Microsourcing, a subsidiary of Australian customer experience company Probe Group, is among the largest outsourcing providers in the Philippines with 13 offices and over 9,000 employees. They’ve partnered with 23 universities and colleges to ensure access to top Filipino talent, including for the accounting functions they support: accountants, AR and AP specialists, bookkeepers, and collection specialists.
Services Offered:
- Finance and accounting
- Customer service
- Data management
- Creative services
- Health information management
- HR services
- Insurance
- Marketing
- Quality assurance
- Sale support
- Technical support
- Security and investigation
Outsourced (as of August 5, 2025)
Philippine Delivery Centers: Metro Manila, Clark, Cebu
Founded in 2012, Outsourced Philippines supports the staffing needs of a range of companies, including ASX and NASDAQ-listed organizations, through their AI-enhanced recruitment process. Among their available outsourced finance and accounting roles, the popular ones are payroll specialists, insurance brokers, accounting managers, and loan processors.
Services Offered:
- Finance and accounting
- IT and development
- Customer service
- Creative services
- Marketing
- Healthcare
- Administration support
- Engineering and architecture
- Legal services
- Education and training
Philippine Accounting Outsourcing Companies at a Glance
| Criteria | TOA Global | D&V Philippines | MYCPE ONE (formerly Entigrity) | Scrubbed | Cloudstaff | Emapta | Microsourcing | Outsourced |
|---|---|---|---|---|---|---|---|---|
| Focus | Exclusively finance and accounting | Finance and accounting | Finance and accounting | Finance and accounting | Multi-Industry | Multi-Industry | Multi-Industry | Multi-Industry |
| Tenure (as of August 5, 2025) | 12 Years | 13 Years | 11 Years | 13 Years | 20 Years | 15 Years | 19 Years | 13 Years |
| Accounting Team Qualifications | Professionals who hold bachelor’s or master’s degrees in finance and accounting Minimum 2 years of prior experience 260+ hours of training in US and Australian accounting practices by certified US and Australian CPAs |
CPAs, CIAs, CFEs, Certified Data Analysts, and other finance professionals | Pre-vetted professionals with prior experience in US accounting, tax code, and return preparation | Accounting and bookkeeping specialists, of which 31% has prior Big 4 experience (accounting services provided don't require a state license) | Accounting professionals experienced with US, Australian, and UK accounting practices | Accounting professionals experienced in key functions like budgeting, financial reporting, fund management, tax compliance, and more | Junior to senior-level accounting experience | Accounting and finance professionals experienced in bookkeeping, financial analysis, payroll processing, and debt collection among others |
| Training Program | Tailored career pathways through award-winning registered training organization, Ab2 Institute of Accounting (13 LearnX Awards categories + Seal of Excellence by the Southeast Asia Business Excellence Awards 2023) | Regular in-house training sessions, including those for fresh accounting graduates | In-house training facility offering 35 modules | Not publicly available | Cloudstaff Academy offering fast track and specialist training courses | Continuous professional development training programs | Project HIRED, a tailor-made training program for pre-qualified candidates with at least a year’s worth of local experience to thrive in specific accounting environments | AI-powered training through Outsourced University Access to CPD-eligible courses |
| Security and Tech Stack | Enterprise-level data security
Physical and technical safeguards across all teams (i.e., 2-factor authentication, USB and external storage disablement, phone restrictions) Partnerships with leading providers like QuickBooks and Practice Protect |
Enterprise-level data security
Physical and technical safeguards Appointed Data Security officer |
Enterprise-level data security
Data Protection Officer Physical and technical safeguards across all teams (i.e., 2-factor authentication, USB and external storage disablement, phone restrictions) |
List of IT security controls not publicly available Software include Expensify, Xero, Bill.com, Cin7 Core, Oracle NetSuite |
Chief AI Officer
Physical and technical safeguards across all teams (i.e., 2-factor authentication, data encryption, application whitelisting) |
Physical and technical safeguards across all teams (i.e., data encryption, access control restrictions, security audits) | Physical and technical safeguards across all teams (i.e., data encryption, multi-factor authentication, regular patch updates, USB and external storage disablement) | Physical and technical safeguards across all teams (i.e., disk encryption, firewall, V-LAN segregation, site to site IPSec VPN encrypted connections) |
| Certifications or Attestations | AICPA SOC 2 | ISO 9001:2015 | AICPA SOC 2 ISO 27001:2022 GDPR | AICPA SOC 2 | ISO 27001 ISO 9001 HIPAA GDPR PCI DSS SAQ-D | AICPA SOC 2 ISO 27701 ISO 27001 GDPR HIPAA PCI DSS B Corp certified | ISO 27001 ISO 9001 HIPAA PCI-DSS | ISO 27001 ISO 29001 |
| Partnerships and Alliances | BDO Alliance, Baker Tilly, Morison Global, AGN International, MSI Global Alliance, Allinial Global, and 10+ more | Transfer Pricing Assoicates, Xero Gold Partner, Cisco Partner, NTT | Institute of Management Accountants, BDO Alliance, Boomer Consulting Partners, Abacus Worldwide, Eide Bailly Alliance, Harper and Company CPAs Plus, and Gujarat Government | Not publicly available | Institute of Public Accountants | Emapta Global Talent Partner Program but partners aren’t publicly disclosed | Not publicly available | A2B and Double Yolk (acquisitions)
Evertreen eco-organization |
| In-Country Facilities | 24/7 CCTV and security personnel across all 4 delivery centers with production rooms, training rooms, pantries, lactation rooms, and a corporate floor
1/3 office space dedicated to recharging and refreshing (recreation area, massage chairs, coffee vending machines) Power and internet redundancy |
24/7 CCTV and security personnel across all 2 delivery centers with open-style desks, conference rooms, phone booths, client room, recreational area, lactation area, and kids’ area | 24/7 CCTV-surveilled delivery center with 50 fixed desks, 1 meeting room, and 1 cabin | 1 delivery center with an open plan work area, conference rooms, pantry, digital detox area, lounge, and daycare | 13 delivery centers with office suites, VIP lounge, Cloudstaff cafe, network operation centers, Cloudstaff radio studio, game and relaxation rooms, kids’ areas | Delivery centers with hot desks and free seating setup for remote core and client staff, conference rooms, private suites, pantry, play areas, in-house gyms, and lounge | 24/7 CCTV and security personnel across 13 delivery centers with an open plan work area, private offices, meeting rooms, training rooms, breakout rooms, locker | 6 delivery centers with ergonomic workstations or hot desks, meeting and conference rooms, private branded team rooms (optional), and chill-out lounges |
| Client Support | Dedicated client relationship managers
People management platform with 24/6 support through live chat and helpdesk |
Account managers collaborate with Human Resources and Quality Assurance Departments | Account managers | Client Services team | Client Growth team | Dedicated Support Team and partner portal | Client Experience team | Client success managers |
How Much Does It Cost to Outsource an Accountant
One benefit often cited when working with outsourced accounting professionals is cost savings. Since businesses won’t have to worry about paying for office space and other overhead expenses, outsourcing tends to be more affordable than hiring domestically.
The total cost of hiring an outsourced Filipino professional can vary based on factors like years of experience and industry specialization. But it’s still generally lower than hiring from major markets.
Here’s what you can expect to pay monthly:
| Job Role | Monthly Rate | Average Monthly Rate |
|---|---|---|
| Bookkeepers | PHP 22,000 - PHP 47,000 | PHP 37,000 |
| Accountants | PHP 29,000 - PHP 50,000 | PHP 40,000 |
| Senior Accountants | PHP 45,000 - PHP 70,000 | PHP 51,000 |
From Glassdoor (2025)
These rates represent the costs of hiring Filipino talent, but many providers offer additional value through in-house training programs, infrastructure, and ongoing support.
Notes on Choosing a Partner for Outsourced Accounting Services
Each of the providers we mentioned brings different strengths to the table, ultimately contributing to the Philippines’ well-earned position as a premier destination for outsourcing. However, not all of them may be the right fit for your business.
When evaluating potential partners, consider factors beyond cost savings:
Experience and Track Record
- How long have they been serving the finance and accounting industry?
- Are they specialized or multi-industry providers?
- What’s their average client retention rate?
Technology and Software
- What’s their standard equipment suite per offshore team member?
- How are they keeping up with advancements powered by artificial intelligence?
- Do they have technical training for employees?
Training and Development
- What baseline qualifications do they look for in their employees?
- Do they support certification programs?
- What career development opportunities do they provide for their staff?
Security and Compliance
- How do they keep their workspaces and facilities secure?
- Do they have appropriate certifications and compliance standards?
- What are their power redundancy measures for business continuity?
Cultural Compatibility
- What’s their communication style and frequency?
- How do they handle time zone differences and collaboration?
- What’s their process for handling client feedback?
In your preliminary conversations, request proposals that outline service level agreements, reporting procedures, and escalation processes. With most providers, you can take advantage of pilot projects or trial runs that allow you to see their capabilities in action before committing to anything long-term. And on your part, establish clear expectations from the outset to ensure a successful partnership.
Read More: The Ultimate Guide to Offshore Accounting
Making the Right Choice for Your Business
As providers ramp up investments in technology and develop even more specialized expertise, the Philippine accounting outsourcing industry will keep getting better. To make the most of your investment, perform your due diligence in identifying the provider that understands your core business, shares your commitment to quality, and can grow with your accounting needs.
Remember, the best providers are not competing on price alone anymore. Today, it’s about value, expertise, and the ability to become extensions of your local team.
Choose the Global Leader in Accounting Outsourcing
Whether you’ve partnered with global talent teams before or you’re yet to start outsourcing, our elite accounting professionals at TOA Global can handle your firm’s day-to-day work so you can focus on strategic planning and other business-critical tasks.
All 1,190+ firms we’ve partnered with over the last decade have overcome capacity constraints, thanks to their experienced and skilled outsourced team members in the Philippines.
If you’re aiming for a similar success for your firm, we’re here to support you. Schedule a call with our growth experts today.
