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Procurement Market Intelligence Report

Accounting Services Sourcing Guide & Market Trends

Comprehensive intelligence for making smart purchasing decisions

Learn about actual and potential costs

How much should I pay for Accounting Services?

What is the average price of Accounting Services?

This procurement report includes pricing information to help you purchase Accounting Services. Our analysts provide a benchmark price and a price range based on key pricing factors to help you understand what you should be paying for this specific product or service. To see the average price for this and hundreds of other products and services, subscribe to ProcurementIQ.

Has the price of Accounting Services been rising or falling?

Analysts look at market data from the previous three years to determine an overall price trend. You can use the recent price trends to help you understand price volatility and plan your budget.

I’m not ready to purchase Accounting Services yet. Will I pay more if I wait too long?

We forecast the next three years of price movements by looking at factors likely to affect the market's supply chain, such as inputs, demand and competition. You can then use the price forecast to figure out the best time to purchase.

What other costs are associated with purchasing Accounting Services?

Our analysts calculate the total cost of ownership and assign a level of low, moderate or high, depending on things like customization, integration and installation. Use this information to budget for Accounting Services with a reduced risk of unexpected costs.

See how we display average pricing information, trends and market data.

Find the vendor to meet your needs

Where can I purchase Accounting Services?

Among the estimated 94,000 providers of accounting services, the top four firms account for about 47.0% of total market revenue, signaling a moderate level of concentration. The Big Four accounting firms (PricewaterhouseCoopers, Deloitte, Ernst & Young and KPMG) have engaged in numerous mergers and acquisitions throughout the past two decades,... Subscribe to learn more.

Questions to ask potential suppliers

How can I gain leverage during negotiations?

Internal Control

How often do senior accountants review work?

Do you have a CPA approve the work before delivering it to clients?

What controls and indicators do you have in place to maintain quality?

Who normally identifies errors when they occur?

How often do you experience downtime, errors or inaccuracies with your service?

What service monitoring reports are available?

Trustworthiness

What safeguards do you have in place to protect confidential information?

Do you have an ethics or compliance officer?

How do you prevent any conflicts of interest when selecting staff to handle an account?

Have you received a negative process review within the past three years? How have you responded to it?

Pricing

Do you provide discounts on hourly rates based on the type of personnel you employ?

Do you lock in rates and fees for multiyear contracts?

How much does my staff's assistance influence the price?

How do you decide which tasks to assign to a junior accountant versus a senior accountant? To what tasks do you assign a CPA?

Value-Added Services

What value-added services do you offer? How does bundling these services impact pricing? How will bundling services change contract terms?

What types of discounts do you offer for bundling services together?

How do you maintain your operational efficiency when offering more than just your core accounting services?

What firms could you refer me to for any value-added services I need?

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Key elements for every RFP

What should my Accounting Services RFP include?

Project Budget

Buyers should include the budget for the contract.

Buyers should include what other expenses (e.g. printing and mailing) they will cover.

Selection Criteria

Buyers should evaluate vendors on the qualifications of the firm and the staff assigned to the project.

Buyers should evaluate vendors' ability to meet the scope of the work.

Buyers should evaluate vendors based on their projected costs.

Buyers should evaluate references from vendors' previous clients.

For other selection criteria requirements, buyers should reference the Buying-Decision Scorecard section of this report.

Project Schedule

Buyers should include the date when proposals are due and any other relevant dates (e.g. presentations or final interviews) prior to the contract award.

Buyers should include the date when the contract begins and ends.

Evaluate major factors to mitigate risk

How risky is the Accounting Services supply chain?

Supply chain risk for accounting services firms is low, with most upstream suppliers, such as computer and packaged software wholesalers, posing minimal risk to vendors. Business software publishers generate most of the risk in this portion of the supply chain. Business software publishers with widely accepted products that are compatible... Subscribe to learn more.

HIGH

MEDIUM

LOW