Global Market Trends 

The global F&A outsourcing sector is expected to grow from approximately US $54.8 billion in 2025 to about US $81.3 billion by 2030, implying a compound annual growth rate (CAGR) of around 8.2 %. This growth is “fuelled” by automation, artificial intelligence, increasing talent shortages in developed markets, and more companies embracing outcome-based engagements.

TBS Global is well positioned to take full advantage of this trend by supporting Australian businesses with its support centres in the Philippines. We believe Philippines will continue to strengthen its position as the key outsource destination for the following reasons:  

• The Philippines has emerged as a top-tier destination for outsourced accounting services including bookkeeping, payroll, accounts payable/receivable (AP/AR), and financial reporting, positioning itself alongside leaders like India and Poland.
• Outsourcing firms such as TBS Global are leveraging a highly educated talent pool, near-native English proficiency, lower wage rates (~$8–9/hour vs. $37–39/hour in the U.S.), and supportive infrastructure to attract clients globally.

• Government incentives and mature BPO infrastructure further enhance competitiveness—key hubs include Manila, Cebu, Clark, and Davao
• TBS Global with its presence in the Philippines market, now deliver not just transactional bookkeeping but also financial statement preparation, tax compliance, payroll management, and management reporting.
• We are CPA-led or staffed, aligning with international accounting standards and ensuring high-quality delivery and audit readiness.

Australian Market Disposition                                                                                                                

The Australian market has traditionally had been a reluctant outsourcer. There are various reasons for this including market and population size being smaller than other mature markets, the highly regulated business nature (especially in banking and finance sector) and its physical position of being isolated and distanced form rest of the global markets. Over the last 2 decades, technology and training has narrowed some of these gaps allowing the Australian market to consider near shore locations such as the Philippines as its outsource partners.

We believe The Philippines add an extra level of confidence to Australian business in the financial sector for the following reasons:

Workforce Talent & English Proficiency

• Filipino accountants are well-trained in IFRS and often familiar with Australian standards (e.g., BAS, ATO filings)
• The Philippines consistently ranks #20 globally in English proficiency, ahead of countries like Switzerland or Malaysia

 

Comparable Time Zones

• Philippine time aligns closely with Perth, Brisbane and only 2 hours behind Melbourne/Sydney, allowing real-time collaboration and efficient handovers.

 

Mature BPO Infrastructure

• The Philippines boasts a well-established BPO sector, which includes finance outsourcing, supported by government incentives, economic zones, high-speed internet, and training programs.

 

Increased Efficiency & Productivity

• Continuous turnaround (Philippines works while Australia sleeps), delivering financial reports and payroll processing quicker.
• Providers streamline processes with proven workflows and advanced accounting tools to reduce errors and accelerate delivery.

 

Risk Mitigation, Quality, Compliance & Expertise

• Filipino professionals commonly hold CPA credentials and experience applying international standards (IFRS, GAAP), ensuring audit‑ready, compliant output.
• Many are trained on platforms like Xero, QuickBooks, and experienced with ATO, BAS, and Australian payroll systems.
• Quality Control & Data Security: Choose reputable providers with ISO certifications, secure cloud platforms, and clear communication protocols.
• Legal & HR Compliance: Consider models such as Employer-of-Record (EOR), or local incorporation via vetted partners to manage Philippine employment laws effectively.
• Cultural Alignment: TBS Global has been a long-term service provider to Australian clients who understand local tax systems, business norms, and expectations.

 

Scalability & Focus on Core Activities

• Easily scale up or down to match seasonal workloads or business growth—without hiring or firing internally.
• Frees your in-house team to prioritize strategy, client service, or expansion over administrative finance tasks.

Major Cost Savings

• Outsourcing can lower operating costs by 60–70%, mainly due to lower salaries and no overheads like office space or equipment.
• In Australia, bookkeeping rates range from AUD 70–150/hour, compared to AUD 9–25/hour for equivalent service in the Philippines.