If you happen to have a role that an IT specialist has to perform in your business, chances are that you can outsource it. In fact, around 59% of businesses choose to outsource in order to cut costs. While this means that you’ll need to pay certain agency fees, you no longer have to worry about employment contracts and HR issues, or taking on staff for fixed periods when your projects might be seasonal. While it might be daunting to let others behind the scenes of your operations, there are elements you’ll want to outsource.
Outsourcing can be a daunting prospect and if you’re only willing to outsource a single component of the business, it should be this element. Marketing and lead generation are not only items that can improve your bottom line, but they are also essential in terms of keeping the sales flywheel going. Outsourcing this function to a marketing firm that has the necessary experience will not only boost your numbers but will also ensure that this a continuous process despite all the other tasks a business may need to perform, which means that there are always leads coming in. While marketing and lead generation can be outsourced to two different firms, there are a number of firms that offer this service as a bundle.
One of the biggest investments a business can make when it comes to client service, is adding in a dedicated servicing element. CRM systems work well in this regard, as it allows the business to keep up to date with the various elements that ensure that you build a relationship with the customer. While some businesses choose to outsource the entire CRM system to companies, this could prove to be counter-intuitive, especially if the business is still fairly small. However, the administration can take time and doesn’t necessarily have anything to do with the relationship element of the business. This function is easily outsourced to a CRM administrator who will ensure that the system is regularly updated with correct information. The administrator will ensure that the CRM functions properly and that all staff who need to use it, know how to use it.
One of the most important components of running a successful business is to ensure that it’s safe from online attacks and data loss due to security breaches. While an in-house security infrastructure expert might be able to do the job, it might be prudent to outsource this function to companies that specialize in cybersecurity. These companies invest in constant training and upskilling of staff to remain ahead of the threats, which is tough for companies who rely on in-house staff. According to Taylored Systems, it helps to outsource security aspects of the business, especially if video surveillance is used. This is to ensure that the security aspect of the business remains impartial which prevents tampering.
Human resources is a function that will always be a necessary component in a business, however, it’s not always necessary to hire someone outright. There are a number of companies that offer this service virtually. It’s not just talent acquisition that you can look forward to, as the HR function can also include timesheets, leave management, and the virtual management of employee benefits. Some HR firms can also take care of the payroll aspect of the business which ensures that the business spends less time calculating overtime and leave pay, and more time doing the things that will benefit their bottom line.
While you may still need the worker on the floor to manually update the inventory as it comes in, if you happen to have a business that handles a substantial amount of inventory, it helps to outsource the management of the inventory to an external party. When someone actively manages your inventory, you will know which items are fast sellers, which just take up space, and whether your stock is moving fast enough for you to make a profit. It also highlights items that could be close to their expiration date and even items that get wasted. This can be difficult to do when you’re focused on other elements in the business and unable to drill down into the details.
Businesses rely on various types of software to tick all the boxes when it comes to financial management. Certain apps allow businesses to capture all their information, from stock take to invoicing, cost analyses, budgeting, cash flow projections, and more. This, coupled with access to the bank statements will provide a bookkeeper or financial manager with more than enough information to prepare their reports. The tools are also designed to easily integrate into other apps that allow businesses to generate their own management accounts. The need for an on-site bookkeeper, if needed at all, can be reduced right down to a few times per month.
With the increase of remote workers and the multiple apps that make this happen, roles such as the Virtual Assistant came about. This function is an asset to digital businesses who still need administration done, but don’t necessarily have the traditional brick and mortar office to house it in. For businesses, this is a major win in terms of keeping someone on the books even when the admin is low, as virtual assistants are flexible. Virtual assistants can take care of social media accounts, digital marketing, preparing reports, arrange events, and more. Another advantage of hiring a virtual assistant is that they’re often already trained and skilled in what they do, which means that the business wouldn’t have to spend too much time and money on training.
If a function can be performed online, it’s worth considering the cost and time implications if these services are outsourced. Let us know what your digital needs are and we’ll become your guide on the route to success.