Back-Office Functions You Should Really Consider Outsourcing

Back-Office Functions You Should Really Consider Outsourcing

Finger touching a virtual screen showing the word outsourcingHow a company managed all its departments and functions under one roof – or at least within one supervised network owned by the business – was one measure of the company’s success. That was before the 90s came rolling in and brought with them the possibility of entrusting several business functions to the capable hands of business process outsourcing (BPO) companies.

These days, almost every major company in the Western world uses a BPO for a variety of reasons. The BPO might be onshore or offshore, but the functions remain the same – to assist a company of whatever size perform specific processes, thereby freeing up the client company’s leaders and staff to focus on other core aspects of their business.

The back-office is an area of business that has benefited largely from the presence of these BPOs. Some of the back-office functions you may want to consider delegating to an onshore or offshore provider are listed below.

Marketing, customer service and related functions

You’re probably familiar with how huge retail companies handle their order-taking and customer assistance through contact centers. With the help of these contact centers, business is open 365/24/7. Imagine how much revenue you could be losing if you were the only one who didn’t have that kind of availability? It’s a worldwide market now, and you cannot afford to be open only for one segment of your market – the one within your time zone – if you want to succeed in this highly competitive industry. Order-taking contact centers are only a portion of the BPO-handled processes for many businesses. There are public relations, customer engagement through social media, and several others.

Financial functions

Who wants to worry about bookkeeping, accounting and other back-office financial functions? Financial services outsourcing by providers like Consero Global LLC has grown by leaps and bounds, as soon as Fortune 500 companies began using it to help them grow. You don’t have to hire an entire department of accountants and finance pros to handle this part of your company. Professional providers are capable, scaleable, and instantly accessible.

Staffing functions

Do you like vetting the candidates for rank-and-file positions? What if your company had to interview a hundred applicants a day? Wouldn’t it be easier if all of the background checks were already performed by HR professionals that don’t even have a desk in your office? Screening, hiring, managing employee benefits and leave credits, etc. – these are only some of the functions a company halfway around the world can do for you, and for much less money than an in-house department.

These are only three of the most outsourced back-office functions. You may be able to think of a few more. Keep in mind that if you need a support department for a process, outsourcing might be an option; it’s quicker, easier, and more affordable.

How a company managed all its departments and functions under one roof – or at least within one supervised network owned by the business – was one measure of the company’s success. That was before the 90s came rolling in and brought with them the possibility of entrusting several business functions to the capable hands of business process outsourcing (BPO) companies. These days, almost every major company in the Western world uses a BPO for a variety of reasons. The BPO might be onshore or offshore, but the functions remain the same – to assist a company of whatever size perform specific processes, ...

The Secrets to Running a Business: Mind Your Finances

The Secrets to Running a Business: Mind Your Finances

Manager presenting budget to marketing peopleForward thinking is one of the greatest practices businesses must possess and apply in whatever decision, activity, and project they intend to execute. It's also a sign that you are a visionary business leader.

If you are planning to start your own business or already running one, this mantra will play an important role in how you manage yours.

Competitiveness is Key

Competitiveness is the secret to today's business' success; it should also be a priority. Strategizing for competitiveness, however, is no walk in the park. There will be moments when your business experiences a dip, particularly in terms of finances. Starting a business will require enough funds; the question is: do you have enough?

Staying successful in the field requires one simple start: mind your finances.

When Concerns Happen

In most cases, starting businesses require help financially. Fortunately, there is a growing number of loan providers who offer solutions to struggling businesses. For ARF Financial, start-ups can worry about one less thing but putting their faith in the hands of experts.

For example, an owner is interested in starting their own salon business. Providing the best hairstyle or makeup services is not enough; they also need a good establishment located in the middle of the market. To have all of these, they will need enough finances. That's where salon financing comes in handy.

Licensed lending firms offer commercial loans that support the business' needs. Forward thinking applies when the business decides to consider loans before establishing its operations. With the help of a trusted loan provider, they can determine the right program that applies to their situation and budget. An expert can also help you set your goals and offer advice on how to meet financial expectations.

Money is one of the lifelines that empower your business. It can be difficult to attain but with advance planning and research, it's easier to find a solution. Mind your finances now and make the most out of your startup's potential.

Forward thinking is one of the greatest practices businesses must possess and apply in whatever decision, activity, and project they intend to execute. It's also a sign that you are a visionary business leader. If you are planning to start your own business or already running one, this mantra will play an important role in how you manage yours. Competitiveness is Key Competitiveness is the secret to today's business' success; it should also be a priority. Strategizing for competitiveness, however, is no walk in the park. There will be moments when your business experiences a dip, particularly in terms of ...

Back-Office Billeting: What to Look for in a Finance Outsourcing Company

Back-Office Billeting: What to Look for in a Finance Outsourcing Company

Outsourcing written on a white table then enclosed to a thought bubbleIn the past, it was unthinkable for any business owner to outsource a process as delicate and critical as accounting to an onshore or an offshore business process provider. More recently, however, big companies began taking the leap. This led to many small businesses doing the same. After all, if multibillion-dollar companies could entrust these departmental functions to a service provider, it is highly likely that it’s safe for smaller companies to follow suit.

Your company can take the same direction. Before doing that, however, make sure the finance outsourcing company you choose offers the following.

Experience and certification

As the processes you are entrusting to the business process provider involve money and assets, it is imperative that the company you choose has staff with the right experience and certification. Highly experienced companies like Consero Global LLC are more likely to have a history of involvement in processes similar to yours. Quality is a major benefit when you work with the right agency.

Cloud-based services

You can’t rely on periodic reports alone. These days, if you outsource something, you should get a service that lets you access your data instantly if that service is available. Not only should you be able to access your financial data anytime, but you should also be able to do it from anywhere, using your mobile devices. This is how you stay on top of things, wherever and whenever you have to.

Updated, high-quality services

If you could take care of all the finance functions of your company on your own without sacrificing valuable time and the capability to focus on core aspects of your business (you do want to grow your business, don’t you?), you wouldn’t hire an outsource company to help lighten the load. What an outsource company should bring yours is an updated architecture that you truly need, without which it would be very difficult to manage your finance processes.

What all this is about is the need to do your homework before settling for an outsource company for your financial functions. Make sure to do your research, get recommendations, and interview the providers on your shortlist.

In the past, it was unthinkable for any business owner to outsource a process as delicate and critical as accounting to an onshore or an offshore business process provider. More recently, however, big companies began taking the leap. This led to many small businesses doing the same. After all, if multibillion-dollar companies could entrust these departmental functions to a service provider, it is highly likely that it’s safe for smaller companies to follow suit. Your company can take the same direction. Before doing that, however, make sure the finance outsourcing company you choose offers the following. ...