It’s challenging for local business owners to focus on core activities when they have to juggle a hundred different balls at the same time. How can you focus on networking when you’re wrapped up by IT requirements? What about local partnerships and social media?
As local businesses operate with smaller workforces compared to corporate giants, staff members are pushed all the times, and the growing demands of business can often make you lose track of core business operations.
Fortunately, there’s the option of outsourcing. Several different aspects of your business can be safely outsourced to experts while remaining under your sole ownership. But outsourcing is a huge step, and you need to know which activities should be outsourced to retain your competitive advantage.
So what kind of activities can be outsourced by local businesses successfully? Here’s a list to help you out:
IT services
Local businesses need to set up computers and servers, keep them running, and if there’s any malfunction, address it as fast as possible. The issue is that these businesses lack IT departments and IT specialists, which means there could be long delays in sorting issues with servers and other IT equipment.
Ottawa IT services and other local outsourcing options are available for local businesses to maintain, access and improve their infrastructure and free up resources. Reliable IT support services maintain both your in-house infrastructure and off-road infrastructure (if distributed teams/work from home employees want to login). This is an ideal outsourcing option to keep up with things like backups, patches and security.
Logistics and shipping
This is one of those repetitive tasks that eat up a lot of time and financial resources. But it’s something you can’t live without if you have customers outside your proximity. Easy access to local fulfillment providers has leveled the playing field for local businesses, just as the Web did for global accessibility and shopping cart did for eCommerce.
As with other business processes, outsourcing something that requires doing things in bulk is quite beneficial. Local businesses can utilize this option and eliminate the unpredictability of customer delays, thereby increasing margins and lowering return rates. They will also enjoy lower shipping costs, which increases their competitive advantage in a locality of choice. Also, they can work on reverse logistics – a process of making profits out of returned items.
Cash flow management and accounting
Optimizing the cash flow management process is a challenge for local businesses. But the good news is most banks that cater local businesses have advisers and specialists that can help you manage cash flow as well as secure grants and lines of credit. Your business needs cash to operate – the local business banker can be a blessing in disguise.
Another task you should outsource is accounting. It not only takes time, but also is a highly specialist role. Mistakes in this area could land you into trouble; expert accountants know the rules and therefore can keep you out of trouble. You can outsource booking for day-to-day entries, and get in touch with an efficient payroll manager to handle withholdings and paychecks.
At the end of the day, evaluate the providers you work with to gain an understanding of the regulatory issues pertaining to the processes they would take care of.
