In an increasingly competitive market, UK businesses face pressure to streamline operations and cut costs, especially within their finance and accounting departments. 

Many are turning to offshoring as a strategic way to achieve these goals. Offering highly qualified professionals at competitive salary levels, South Africa stands out as a prime destination for account management roles.

This article compares South African account management salaries Vs the UK, and explores how offshoring can lead to substantial savings and operational improvements.

Accounts Processing and Accounting Support Roles

Account management roles support foundational finance processes that are crucial for financial planning, cash flow management, and accurate reporting. We’ll be looking at these key roles:

• Accounts Assistant
• Accounts Payable Assistant
• Accounts Payable Manager
• Accounts Receivable Assistant
• Accounts Receivable Manager
• Assistant Accountant

What’s The Problem?

Account management roles can carry substantial operational expenses due to high salary expectations, benefits, and additional overhead.

This is especially challenging for UK companies, which must cover significant employer contributions such as National Insurance and National Pension Contributions (NPC). 

In comparison, South Africa requires only a minimal UIF contribution of about £8 per month and a 1% Skills Development Levy. 

These lower contributions considerably reduce the total employment costs, making South Africa a compelling choice for offshoring account management functions.

Let’s now explore the salary differences for each role and see how these can contribute to overall cost savings by hiring in South Africa.

South African Accounts Processing and Accounting Support Roles

Let’s compare some roles, their responsibilities, and how offshoring addresses operational challenges.

Accounts Assistant

The Accounts Assistant supports the finance team by maintaining accurate financial records, assisting with daily bookkeeping tasks, reconciling bank statements, processing invoices, and performing basic administrative tasks. 

Candidates could be busy studying towards a degree but usually don’t have a degree in accounting or finance. However, they do have around 5 years of experience in entry-level accounting tasks.

• The average annual Accounts Assistants salary in the UK is around £31,900.
• The total cost after employer contributions is £36,101.
• In South Africa, the salary would be around £16,600 a year.
• After employer contributions, that total becomes £16,861.

Offshoring this role results in approximately 53% savings, with UK businesses potentially saving £19,240 annually.

Accounts Payable Assistant

The Accounts Payable Assistant is responsible for managing outgoing transactions, processing payments, verifying vendor invoices, and ensuring timely payments to suppliers. Candidates are not qualified in accounting or business administration. They typically have around 5 years of experience, specifically in accounts payable functions.

• An Accounts Payable Assistant salary in the UK is around £30,200 annually.
• Employer contributions increase the total cost to £34,094.
• In South Africa, an Accounts Payable Assistant’s salary is around £14,309.
• With contributions, the total employment cost reaches approximately £14,546.

Offshoring this role results in approximately 57% savings, with UK businesses potentially saving £19,548 annually.

Accounts Payable Manager

A Senior Analyst takes on a leadership role within the finance team, conducting in-depth financial The Accounts Payable Manager oversees the accounts payable team, ensures the accurate processing of invoices and payments, maintains vendor relationships, and ensures compliance with financial policies. 

Professionals in these roles are typically Qualified By Experience (QBE) and do not hold a bachelor’s degree in accounting or finance. 

They have around 10 years of experience in accounts payable management, overseeing the processing of invoices, payments, and vendor relations.

• The typical Accounts Payable Manager salary in the UK is roughly £46,800 annually.
• Employer contributions increase the total cost to £53,691.
• In South Africa, an Accounts Payable Manager salary sits at around £25,303.
• With contributions, the total employment cost reaches approximately £25,650.

Offshoring this role results in approximately 52% savings, with UK businesses potentially saving £28,041 annually. 

Accounts Receivable Assistant

The Accounts Receivable Assistant is responsible for managing incoming payments, tracking customer invoices, following up on outstanding balances, and maintaining accurate records to support cash flow.

• An Accounts Receivable Assistant salary in the UK is around £30,200 annually.
• Employer contributions increase the total cost to £34,094.
• In South Africa, an Accounts Receivable Assistant salary is around £14,309.
• With contributions, the total employment cost reaches approximately £14,656.

Offshoring this role results in approximately 57% savings, with UK businesses potentially saving £19,438 annually. 

Accounts Receivable Manager

The Accounts Receivable Manager handles the accounts receivable team, oversees credit control, coordinates collections, maintains customer accounts, and ensures cash flow management. They usually have a bachelor’s degree in accounting or finance and around 5+ years of experience in accounts receivable management. 

• The typical Accounts Receivable Manager salary in the UK is roughly £46,800 annually.
• Employer contributions increase the total cost to £53,691.
• In South Africa, an Accounts Receivable Manager salary sits at around £25,303.
• With contributions, the total employment cost reaches approximately £25,650.

By offshoring this role, UK businesses can save 52% – around £28,041 annually.

Assistant Accountant

The Assistant Accountant helps senior accountants by preparing financial statements, supporting audits, managing budgets, and performing tax compliance tasks. This role contributes to accurate reporting and compliance. They usually have (or are busy working toward) a bachelor’s degree in accounting or finance and typically have 5 years of experience in accounting support functions. Candidates may also be pursuing ACCA or Accounting Technician (AT) type designations.

The average salary for an Assistant Accountant is:

• Around £36,500 a year in the UK – £41,532 after contributions.
• Around £18,338 per year in South Africa – £18,616 after contributions.

The total savings is around 55% (roughly £22,916).

Why Offshoring to South Africa is a Good Idea for UK Businesses

The cost savings associated with South African account management salaries are just the beginning. There are extra strategic advantages for UK businesses considering offshoring to South Africa:

High Education Standards and Relevant Qualifications

South Africa has a well-developed education system with strong business and finance programs.

Many professionals hold degrees from accredited universities and certifications, such as Chartered Accountant (CA) and Chartered Financial Analyst (CFA), that align with international standards.

This ensures a competent workforce with the expertise to handle complex financial tasks and adapt to UK-specific regulations.

Infrastructure and Technological Readiness

South Africa has a well-developed business infrastructure, reliable internet connectivity, and a growing tech ecosystem that supports remote work and digital financial management.

This strong infrastructure allows South African teams to work effectively with UK companies, ensuring stability and efficiency in offshored operations.

Cultural Affinity with the UK

South Africa has historical ties and shared cultural affinities with the UK, making it easier for South African teams to understand and align with UK business practices and customer service expectations.

This cultural affinity contributes to smoother integration with UK companies’ organisational values, enhancing collaboration and operational efficiency.

Conclusion

Outsourcing these roles to South Africa provides UK businesses with a cost-effective and efficient solution to meet operational needs. 

With up to £137,469 in potential savings, skilled professionals, and added compliance benefits, UK companies can enhance their operational flexibility and cost-efficiency by offshoring these critical roles to South Africa.

Ready to get started? Hire Far Out is made up of certified finance and offshoring professionals. With unique access to a growing talent pool, there’s no better place to get your offshoring started. Get in touch with us!