In a recent webinar hosted by Infomate, two seasoned leaders, Alan Rides, CEO of West London Chambers of Commerce, and Jehan Perinpanayagam, CEO of Infomate Sri Lanka, came together to address a growing concern for UK businesses: the increasing talent shortage in finance and accounting.

As economic pressures increase and skilled professionals become harder to find, UK businesses are facing a growing talent shortage in finance and accounting. With rising hiring costs and expanding responsibilities for finance teams, many organisations are now looking beyond borders for strategic solutions. Sri Lanka has emerged as a global talent hub offering both high-quality finance expertise and cost-effective service delivery.

Here’s why forward-thinking UK businesses are turning to Sri Lanka to fill their finance talent gaps.

The UK’s Trade Outlook and Sri Lanka’s Expanding Role

The United Kingdom remains one of the world’s largest exporters, with London alone accounting for 25% of the country’s GDP. Global trade through Heathrow exceeds £450 billion annually.

Within this dynamic environment, trade between the UK and Sri Lanka is growing steadily, particularly in services and advanced manufacturing. Sri Lankan exports to the UK have grown by 6.5%, reflecting a shift not just in volume, but in value. Beyond textiles, Sri Lanka is now exporting more scientific and tech-driven products, including financial services and analytics.

This evolution highlights a broader transformation: Sri Lanka is no longer just a supplier of goods; it’s becoming a provider of world-class capabilities.

The Growing Finance Talent Shortage in the UK

UK finance leaders are under immense pressure. Key industry statistics underline the challenge:

• 76% of employers in the UK report difficulty finding skilled finance talent.
• 67% of accounting firms say talent acquisition and retention is their top concern.
• Post-Brexit labour shortages, rising compensation expectations, and the shift toward flexible working have all contributed to a shrinking talent pool.

At the same time, the scope of the finance function is rapidly expanding. CFOs are now responsible for ESG reporting, AI adoption, and risk management – on top of traditional compliance and control tasks. This widening mandate is driving the need for leaner, smarter, and more scalable teams.

How Businesses Can Bridge the Gap

To address these challenges, businesses are focusing on two critical areas:

1. Leveraging Technology and Analytics

Many UK companies are still heavily reliant on spreadsheets, often due to underutilised or poorly implemented ERP systems. Fully optimising platforms like SAP and Oracle can significantly enhance financial visibility and control.

Complementary tools like Power BI, Blackline, and Forestpin are now being used to:

• Detect anomalies in financial data.
• Automate reconciliations.
• Provide real-time dashboards for faster decision-making.

Artificial intelligence is also playing a growing role. Tools such as Microsoft Copilot and emerging AI agents can take over routine reporting, freeing finance teams to focus on forecasting and strategic planning.

2. Strategic Outsourcing to Sri Lanka

Sri Lanka has become a preferred destination for finance and accounting outsourcing. Global firms such as HSBC, London Stock Exchange Group, and WNS operate large shared service centres in Colombo, drawn by the country’s strong talent base and English proficiency.

Local BPO providers like Infomate offer a compelling model for UK businesses:

• 20+ years of experience in finance process management.
• Clients across the UK, Australia, and Scandinavia.
• Expertise in procure-to-pay, order-to-cash, fixed asset management, and KYC/AML processes.
• Access to ACCA and CIMA-qualified professionals at competitive rates.

For small and mid-sized UK firms, this model enables high-quality delivery without the overheads of building and maintaining in-house teams.

Real-World Examples of UK-Sri Lanka Finance Collaboration

Several UK businesses are already benefiting from this model:

• A Bristol-based finance firm manages a remote team of 15 in Colombo.
• A hospitality group with 20+ hotels and care homes uses a dedicated offshore team for finance processing.
• Multiple UK accounting practices are augmenting their capacity with offshore professionals, improving both turnaround time and cost efficiency.

For companies with 10–15 finance roles, outsourcing can offer immediate strategic and financial advantages.

Cultural Compatibility and Shared Values

Sri Lanka offers more than just technical skills. The country’s strong educational background, English fluency, and professional alignment make it an ideal partner for British businesses.

Many professionals working with UK clients are alumni of UK institutions, such as the University of West London, and are trained to work in international environments. This shared history translates into smoother communication, cultural fit, and a commitment to quality.

Rethinking the Future of Finance

As finance departments evolve, leaders must reconsider how work is distributed across teams, geographies, and technologies. Strategic outsourcing is not merely a cost-saving measure; it’s a way to free up internal capacity, increase resilience, and stay competitive in a rapidly changing world.

For many businesses, the question is no longer if outsourcing is the right move, but how soon they can implement it effectively.

Interested in Building a Hybrid Finance Team?

With over 500 professionals, a global delivery model, and deep expertise in finance transformation, Infomate is helping UK companies unlock new levels of efficiency and insight.

Get in touch to explore how we can help you build a scalable, high-performing finance team without borders.

Want to dive deeper into this topic?
Watch our full discussion on YouTube: https://www.youtube.com/watch?v=XM8YYXuFK8w