The Expert RA rating agency has overviewed the market of outsourcing services concerning accounting functions and summarized its results for the year 2011. The outcome of the overview was a list and the rating of the largest companies working in this area, among which BDO came up second.
For the third year in a row, by the Expert RA version, the BDO outsourcing division is rated second. In 2011, the total income generated by BDO's provision of outsourcing services in the area of accounting amounted to RUR 487,111,000.00, which was an over 26% increase on the year. The Moscow and Voronezh offices of the company now employ over 200 accounting professionals.
The company was especially successful outsourcing financial, tax and payroll accounting, financial and tax reporting, personnel management and HR record keeping.
We are glad that Expert RA come up with their rating annually. Judging by their data, new players keep coming to the market and outsourcing is now developed in the regions. The overview in question is one of the tools of estimating the capacity and tendencies of the market, which is good for us and for other companies. The new rating has confirmed our forecasts in that 2011 was a step ahead for our business and that companies have begun launching new projects and more actively using outsourcing in order to reduce risks and boost efficiency.
This rating allows us to conclude that a group of stable leaders has actually formed on the market of the outsourcing of accounting functions . They will influence the making of the rules of the game and dictate high quality standards so as to retain their customers. With this purpose, some players have already joined the ASTRA association that has been created in order to support Russia's market of outsourcing. Yet on the other hand, world leaders are conspicuously missing from the rating. According to Lyudmila Shusterova, a Deputy General Director of the BDO outsourcing division, this is the evidence of that this market is not yet as large as in other developed countries and that it will yet see serious changes.
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