Running a successful business is not easy. You need to pay attention to all aspects of the operations, from clients to accounting, logistics to marketing.
It is not possible to have expertise on everything, to precisely understand what a particular department needs. Multi-tasking or switching tasks results in lower performance and productivity levels. Also, having multiple departments and employees pushes the fixed costs up, limiting your profits.
So what can you do to ensure everything is running smoothly? Outsource it, of course!
Outsourcing allows companies to delegate operations, such as customer services, to lower costs and receive professional services from a third-party expert. Whether you have a small business or a large corporation, everyone can benefit from outsourcing their back office services.
The back office is a part of an office that works behind the scenes. It may include the administration, support staff, and the IT department. They do not directly interact with the clients or directly generate “value” for the company. However, they are responsible for providing all business functions that are essential to the company’s operations.
Companies may choose to outsource services depending upon their requirement, costs, workspace, and the ability for the work to be done remotely. The below-mentioned services are some that can be outsourced to help your company.
Technical support
Providing uninterrupted services to customers is every business’s dream. However, this is not the reality. Having a technical support department to cater to the user’s technical support needs is important to maintain your company’s reputation. According to Microsoft Corp, 58% of American consumers will switch companies because of poor customer and technical support service, highlighting how important this is.
However, every company can’t have an excellent technical support staff in-house, equipped with all the required tech. Therefore, technical support outsourcing is the answer to most business needs.
There are many advantages to outsourcing your technical support. First, outsourcing companies have trained staff who can deal with the customer’s queries 24/7 instead of just within business hours. Second, this over-the-clock support will help your business because the truth is that technical support can be required any time of day by a customer, not just from 9 am to 5 pm.
Moreover, it is crucial to look at your product needs, whether it is available for users worldwide. Global technical support will require not just 24/7 assistance but also will need to bridge the language barrier that may arise. Hiring an outsourcing company that has multilingual staff will help in connecting with customers throughout the globe.
Most importantly, technical support outsourcing will allow your company access to the best tech available for customer technical support, improving their experience. Big companies such as Target and even Amazon outsource their customer and technical support services to cater to their consumers and lower their costs.
Financial services
Financial services are services that may include the accounting, financial analysis, and taxation of a business. These back office services can be easily outsourced as they require qualified individuals such as CPAs and management accountants who are costly to recruit and retain.
Hiring another company to fulfill such needs will save you the cost of hiring and retaining these employees. It will also save you space in the office which can be used for business operations that can’t be outsourced.
Sales and Marketing support
When you are working to build a successful and thriving business, you may face many hurdles. From budget constraints to lack of specialized staff, these shortcomings may hinder your goals and ambitions.
Outsourcing your sales and marketing, to a certain degree, to a third party may be a good idea in order to prioritize your business deliverable. Work such as generating prospects, making outbound calls, and tackling sales chats may take up a lot of time that can be allocated elsewhere.
Sales and marketing support outsourcing is perfect for you if you have a small business or start-up that lacks the resources and workforce to handle the overload of tasks. Outsourced staff will use their expertise with a laser focus to achieve your set goals. They will also support your company by doing market research for your products while also providing copywriting and content writing services that your online platform will need.
The opportunity cost of hiring, training, and retaining a big workforce for sale and marketing will be better utilized in other operations for your business, maximizing your profits.
Human resource services
Having a specialized Human Resource (HR) department is necessary for any business; however, it is costly. Recruiting and selection, payrolls, and employee benefits all come under the banner of HR. Additionally, HR is also responsible for evaluating employees’ progress and organizing training and other capacity-building exercises to boost the workers’ performance.
Through HR outsourcing, you can utilize the expert services of a third party to handle some, if not all, of your HR needs. According to a study, “47% of HR teams say employee retention and turnover is their biggest challenge,” indicating the HR department’s cost in the long term. Therefore, it is crucial to have the right HR policies and recruit suitable workers for your business needs.
Outsourcing HR will help take the load off your shoulders. It will also help formulate good HR policies for the company to prevent frequent turnover. Many companies are specialized in training and providing recruits for specific departments. Also, they can evaluate the changes that may be needed to better the organization’s prospects.
Back office services constitute a crucial part of any organization. Knowing when to outsource some operations is vital to save costs and time, which would be better spent meeting deadlines. If something can be done better and cheaper in-house via automation, then don’t outsource it.
However, if outsourcing is the right choice for you, you must do due diligence and proper research to choose the best outsourcing services before outsourcing any service. The wrong choices will not only damage your company’s reputation and progress but will also setback your business finances.
