The widespread cost-cutting by multinational companies (MNCs) and local businesses as part of overall belt tightening amidst a contracting economy has become an unexpected boon to companies offering outsourcing services. In fact, some of these companies are seeing double-digit growth, a trend that began from the middle of last year when the worldwide economy was spiraling downwards.

This is because many businesses, MNCs or otherwise, are looking to trim the fat, improve efficiency and reduce staff in their accounting departments. In other words, they’re hoping to do more or less.

- The Edge Financial Daily, 17 August 2009

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