Finance leaders are under increasing pressure to deliver more with far less. From managing compliance and risk to enabling strategic decision-making, finance functions must operate with speed, precision and strategic foresight. In this environment, outsourcing finance and accounting isn’t merely a cost-cutting tactic, it’s a transformation driver that unlocks capacity, strengthens governance and scales operations with confidence.
This blog is a practical guide for businesses seeking to outsource finance and accounting functions while maintaining accuracy, compliance and full operational visibility. Whether you're navigating talent shortages, expanding into new markets or aiming to modernise legacy processes, the right outsourcing strategy can help finance teams become more resilient, responsive and future-ready.
Why outsourcing finance functions makes business sense
Keeping all finance functions in-house may seem like the safer option, but it often stretches internal teams thin and limits their ability to adapt. As finance departments are increasingly expected to deliver strategic insights while ensuring compliance and managing risk, several operational challenges begin to surface:
- Rising cost-to-serve for transactional processes like accounts payable and receivable, which often consume disproportionate time and budget relative to their strategic impact. Manual workflows and fragmented systems further increase the risk of errors and inefficiencies.
- Talent shortages in finance and accounting roles continue to challenge businesses globally, including Australia. Organisations are struggling to fill roles across bookkeeping, financial analysis and compliance, leading to delays in reporting and decision-making. This shortage is driving demand for offshore and hybrid delivery models that offer access to specialised talent pools.
- Compliance risks and slower decision cycles, especially in industries with complex regulatory requirements. Without automation and dedicated governance, finance teams may face audit issues, missed deadlines and limited visibility into performance metrics.
According to Deloitte’s Global Outsourcing Survey, 54% of organisations now outsource finance functions, with 67% adopting managed services outsourcing models that focus on outcomes rather than headcount. This shift reflects a broader trend toward value-based relationships, where outsourcing is used not just to reduce costs but to access capabilities, improve agility and drive innovation.
Outsourcing enables businesses to tap into global talent, embed automation and build resilience, especially in regulated sectors like healthcare, financial services and energy. For Australian companies, it also offers a way to navigate persistent workforce shortages while maintaining compliance and service quality.
Recognising the strategic value of outsourcing is only the first step. To realise its full potential, businesses must intentionally structure their outsourced finance function. This means identifying which roles to delegate, choosing the right delivery model and ensuring alignment with internal goals and governance standards.
Building your outsourced finance team
Once the decision to outsource has been made, the next step is to structure a finance team that delivers both operational efficiency and strategic value. A successful outsourced finance function should reflect the same standards, responsiveness and accountability as an in-house team, while offering the added benefits of scalability and cost-effectiveness.
This begins with identifying the right mix of roles to support your finance operations. Transactional tasks such as invoice processing and reconciliation are best handled by accounts payable and receivable specialists, while bookkeepers ensure day-to-day accuracy and data integrity. For deeper insights and forecasting, accountants and financial analysts play a critical role in translating numbers into strategy. Meanwhile, compliance officers and payroll specialists help maintain governance and regulatory accuracy across jurisdictions.
Bringing these roles together under a cohesive delivery model is key. Many organisations are now adopting hybrid structures that combine local oversight with offshore execution. This approach balances control and context with scale and efficiency, making it especially effective for businesses operating in regulated industries or across multiple markets.
For CFOs, outsourcing is no longer just a cost strategy, it’s a transformation tool. By shifting fixed costs into variable ones, embedding scalable capability and freeing up capital for innovation, finance leaders can redesign their operating model to support growth. The goal is not simply to delegate tasks, but to embed functions that align with business outcomes, governance standards and strategic priorities.
At Sourcewiser, we partnered with a leading Australian healthcare network to transform its accounts payable operations. Faced with manual, paper-driven workflows across multiple sites, the organisation needed a scalable solution to support national expansion and improve compliance. Through a structured managed services transition and full digitisation of invoice workflows, Sourcewiser delivered:
- $450k in annual savings
- 30% faster invoice processing
- 100% digital vendor records for audit readiness
- Reallocation of internal staff to frontline care and strategic finance
This model delivered measurable efficiencies across finance operations, from faster invoice processing to improved audit readiness and fully digitised vendor records. These gains didn’t just streamline workflows, they strengthened governance and created clearer visibility across teams. As operations scale, maintaining this level of control and consistency becomes even more critical. That’s where structured management and embedded governance come in.
Managing for accuracy, compliance and transparency
Once your outsourced finance team is in place, the focus shifts to ensuring it delivers with greater precision, transparency and consistency than traditional in-house models. This is not just about oversight. It is about embedding governance into every layer of delivery so that accuracy, compliance and strategic alignment are maintained as operations scale.
Finance teams are expected to deliver timely insights in an environment of growing regulatory complexity. Without the right controls, even well-structured outsourced models can fall short. Governance must be intentional and built into the operating model from the outset.
Several enablers help maintain consistency and control across outsourced finance functions:
- Real-time reporting and performance dashboards
Dashboards that track key metrics such as invoice cycle times and reconciliation accuracy give finance leaders a clear view of performance. When shared across internal and offshore teams, they create a unified understanding of success. Financial analysts play a key role in interpreting these metrics, identifying trends and translating data into actionable insights that support decision-making. - Automation in transactional workflows
Automating accounts payable, receivable and reporting processes reduces human error and frees up internal teams for higher-value work. It also improves audit readiness and speeds up month-end close cycles. According to PwC’s Finance Effectiveness Benchmarking report, finance teams that use automation and outsourcing achieve up to 46% faster month-end closes and 37% higher data accuracy. - Structured compliance frameworks
Outsourced finance teams must operate within the same regulatory standards as in-house teams. This includes alignment with APRA, ASIC and international data protection laws. Compliance officers are responsible for embedding these standards into daily operations, monitoring adherence and mitigating risk across jurisdictions. - Regular performance reviews and SLA tracking
Service level agreements should be co-owned by internal and external teams. Regular reviews and calibration sessions help maintain quality, adapt to changing business needs and reinforce shared accountability.
When these elements are built into the delivery model, outsourcing shifts from a tactical solution to a growth catalyst, driving resilience, improving control and supporting scale. Businesses that embed governance early are better equipped to meet compliance obligations and maintain financial visibility across markets.
With structure and oversight in place, outsourcing delivers not just control but agility. But even with a clear strategy, many leaders seek practical clarity before moving forward.
Common questions leaders ask before outsourcing finance
Outsourcing finance functions is rarely a one-dimensional decision. It often prompts deeper questions, especially for organisations navigating growth, regulatory complexity or operational change. And as outsourcing evolves from a transactional cost play to a strategic growth lever, these questions become even more critical.
Today’s leaders are no longer just weighing cost savings. They’re exploring how outsourcing can unlock agility, embed capability and drive outcomes through value-driven partnerships. The shift from vendor to strategic partner reframes the conversation, focusing on shared goals, long-term trust and performance that scales with the business.
Below are some of the most common questions leaders ask when considering outsourced finance models, along with practical insights to help shape a confident path forward.
- Which finance functions can be outsourced?
Most transactional and analytical roles can be outsourced without compromising quality. These include accounts payable and receivable, bookkeeping, payroll, financial analysis and compliance. When structured intentionally, outsourced teams can mirror the standards and responsiveness of in-house functions, supporting both operational execution and strategic outcomes. - How is control and compliance maintained?
Governance is not an afterthought; it’s built into the operating model from the start. Control is maintained through shared service standards, co-owned performance metrics and regular calibration between internal and external teams This ensures outsourced teams uphold an increased level of rigor, accountability and responsiveness as their in-house counterparts. - Does outsourcing improve financial visibility?
Yes. Outsourced finance teams often bring enhanced reporting capabilities and analytical depth that improve transparency across operations. By standardising data inputs and aligning on performance metrics, businesses gain clearer visibility into financial health, enabling faster and more confident decision-making. These insights support not just reporting, but strategic planning and risk management. - What are the cost benefits of offshore finance teams?
Beyond cost savings, offshore finance teams offer financial flexibility. By converting fixed costs into variable ones, businesses can scale support based on demand and avoid overhead tied to recruitment, infrastructure and retention. This model is especially effective for organisations navigating seasonal peaks, geographic expansion or talent shortages, delivering cost efficiency without compromising service quality.
Outsourcing finance and accounting is increasingly a lever for transformation, not just efficiency. When built with purpose, outsourced teams can deliver consistent performance, unlock operational flexibility and extend the reach of internal capabilities. For organisations facing talent shortages, rapid growth or complex compliance demands, offshore models offer a scalable, resilient way to maintain momentum without compromising control.
The most successful partnerships are grounded in shared outcomes, not just service delivery. By aligning on goals, embedding governance and investing in long-term collaboration, businesses can turn outsourcing into a platform for sustainable growth and strategic agility.
Choosing to outsource is only part of the equation. Choosing the right partner is what transforms outsourcing into a long-term growth strategy. If you're ready to move beyond transactional models and build a value-driven partnership that supports scale, compliance and capability, start with the essentials.
This practical guide on how to evaluate providers and avoid common pitfalls will help you ensure delivery of lasting impact.
