Outsourcing has provided various benefits to the clients that use this service. But how does it actually help with workflow blockages?
Outsourcing helps in streamlining your business process, enabling you to eliminate workflow bottlenecks. It increases the efficiency of your in-house staff as workload is distributed. It also helps in delivering your products or service faster, increasing your turnaround time, without sacrificing the quality.
Outsourcing lets you concentrate on your business while you let your offshore team manage your key back office functions. You can outsource your key back office positions like finance and accounting, payroll, and marketing.
Simplifying and standardising finance and accounting (F&A) processes is a key characteristic of well-run companies, and by instilling good F&A processes these companies can achieve a variety of good outcomes. These include such things as more information, more service and more cash. By simplifying their F&A processes, companies have found they can reduce the cycle time it takes to close books, and they can develop better benchmark and baseline financial processes to help them meet regulatory requirements.1
Outsourcing payroll solutions have allowed companies to enjoy benefits such as being able to avoid facing penalties fined by government tax agencies which may be caused by late and incorrect filings of documents and payments needed. By having outsourcing companies do this particular branch of your business, penalties and surcharges may be avoided.2
Outsourcing your marketing team has recently become a more common practice. If you’re a start-up, small business, or an organisation focused on other growth initiatives such as product, bringing your marketing efforts to an agency that can strategise and execute across multiple marketing channels could be key. Additionally, you can get all the perks of having a multi-million dollar marketing staff, but stick within your budget. Outsourcing provides these digital experts — who have likely worked with top-tier brands — at a fraction of the cost with no long-term commitment.3
Streamlining your business process with outsourcing is a smart and cost-effective way to gain competitive advantage.
The Outsourced Accountant supports Australian and New Zealand accounting firms by helping them understand and implement outsourcing solutions to help them become more proactive and truly add value to their clients. If you want to know more about outsourcing, call us at 1300 729 150, and download our e-book.
ENDNOTES:
1 http://www.forbes.com/sites/xerox/2013/07/12/the-benefits-of-outsourcing-finance-and-accounting/
2
3 http://www.forbes.com/sites/ilyapozin/2014/04/23/leave-it-to-the-experts-should-you-outsource-your-marketing/