Successful Back Office Outsourcing
Outsourcing is the contracting of non-core activities to a business that specializes
in these administrative functions for the purpose of freeing-up cash, personnel, time, facilities, thus allowing the company to concentrate more on revenue generating activities. Overall it reduces costs, increases sales and increases profits.
Every business can benefit from outsourcing in many different ways. Those ways include the following:
1.Where you employ back-office workers;
2.Where you have back-office costs;
3.Where time is spent managing the back-office workers;
4.Where time is spent more periodically searching for qualified replacements;
5.Where the data you currently receive is not always correct;
6.Where your customers or clients are decreasing;
7.Where competition are offering more competitive pricing;
8.Where your profits are less than projected;
9.Where your turnover rate of back-office employees is more than 5% annually;
10.Where your company growth is less than budgeted.
The above is a list of just some of the reasons why you should decide to outsource. Once that decision is made and implemented you will enjoy and number of benefits. Some of those are listed below:
Save Money
The outsourcing providor is able to combine volumes and experience of multiple clients to achieve economies in their operational cost. This cannot be realized when the service is not outsourced.
Shared Risk
By diversifying your operations, the risk is shared.
Concentrate on Core Activities
The management is left with more time to concentrate on their commercial advantage or value and thus achieve business development and growth.
Quality
When the job is entrusted to professionals like chartered accountants, better quality is assured.
Flexibility
When the output needs to be ramped up on short notice, this can be achieved without a heavy cost of capital.
Time
Round-the-clock output is available, so faster turn-around times can be achieved, improving customer and staff satisfaction.
Technology
Technology is provided, reducing the need for expensive investment in technology.
Reduced Cash Outflow
Less capital is required to purchase equipment and resources.
Reduced Overheads
The high cost of back-office operations including office space and equipment can be slashed.
Risk Management
The uncertainty and inconsistency to your operations from staff turnover will be eliminated.
by: Kristen Stewart
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