Enterprises are faced with many new challenges in the current era. The business landscape is changing faster than ever before, and business leaders need to anticipate, adjust to and take advantage of every new change. This can mean additional work for those at the top, but the alternative is being left behind and struggling to catch up. One of these differences we have seen in recent decades is the ability of companies to hire external individuals, agencies, and teams to lighten the workload. This can come with a range of benefits and helps drive growth.
Why outsource?
There is a range of reasons why businesses choose to outsource certain tasks and responsibilities. A 2016 survey from Deloitte found the two main drivers of outsourcing were the chances it offers to reduce operating costs and focus on the company’s core. Other benefits offered by outsourcing include streamlining and increasing efficiency, solving capacity issues, finding access to new capabilities, improving service quality and gaining access to a wider talent base.
There are also perceived negative issues that may cause companies to be reluctant to outsource. This could be due to the redundancy it may cause, the threat to existing staff, problems with communication, quality issues, loss of control or security threats. But in many cases, the reasons to outsource outweigh the drawbacks.
What to outsource?
It’s now possible for various areas of the business to be passed on to an external party. Some of the key areas include the following:
IT support
Especially for tech-driven businesses, experts in IT support are an essential resource. Most businesses are now dependent on IT systems to a greater or lesser extent, and even those working in the tech field need an extra hand at times. Trained and experienced IT professionals can help improve security, implement new technologies, maximize efficiency, improve customer service and increase returns on investment (ROI) in the long run. IT support can also help you choose and implement the best IT strategies for your business.
Customer service
It can take a long time to perfect customer service skills to build customer loyalty. However, this can be easily handled by a virtual assistant with knowledge of the industry, products or services. They can focus on using the channels that are most relevant to your customers, help resolve issues or close sales by asking questions about your product or service. This will increase customer satisfaction and customer retention rate, and it will also lead to higher revenues.
Website development
Rather than keeping your web development in-house, outsourcing all your web development needs can offer the advantage of finding assistance as and when you need it, which may not be on a continued basis. A web presence of some sort is essential to every business, if not a web platform with a range of functionalities, and this usually calls for the assistance of those with expertise. Finding a remote specialist opens the possibility of finding more specific talent to meet your individual needs.
Marketing
There’s no doubt that marketing is of vital importance in the digital world, and staying on top of the new marketing trends, new technologies, channels, and tactics isn’t always easy. Whether you choose to outsource to a marketing agency or individual, the decision is likely to lower costs and increase productivity. External marketers can offer outsider insights and innovations. It can also reduce overheads, provide access to improved tactics, and offer a holistic strategy to be applied throughout the organization.
Bookkeeping
Another area of business that can be handled remotely, financial records and accounts can be kept up to date by trained accountants. These tasks can be time consuming and technical, so the opportunity to outsource them would be welcomed by many businesses. It will save on training and management of in-house staff and increase scalability. As financial records need to be kept confidential, finding a trusted virtual bookkeeping service with client references is important.
Payroll
Payroll involves calculating the hours and payment of employees, but also the tax regulations. As a high number of small businesses face tax fines every year, keeping a reliable payroll system that can keep everything organized and efficient is a sensible option. With an efficient payroll infrastructure, businesses can represent a healthier working environment that will be attractive to potential employees, clients and investors.
With increased demands on businesses in a changing and competitive business environment, leaders need to make smarter decisions in order to scale and grow. This includes choosing the right areas to outsource – those that can more affordably and efficiently be handled by trusted external parties. With fewer responsibilities to focus on, companies can stay true to their core and keep their eyes on the prize.
