Top 4 Back Office Functions to Outsource in 2023

In 2023, as a business owner, you should concentrate on developing or extending your enterprise. You should concentrate on attracting new clients. But if you also need to handle back-office tasks like payroll, hiring, or IT infrastructure, it can be too much to handle as you concentrate on business growth. It could be time to think about outsourcing if those tasks are preventing you from doing what you need to be doing.

Back-office tasks can take a lot of time and can really distract you from your business objectives. You may concentrate on business expansion and the customer-facing components of your operation by outsourcing. In addition, it can enhance productivity and provide additional advantages like increased profitability.

Additionally, outsourcing might benefit your company's profitability and resource efficiency.

You cannot, however, just hand up control of your company to anyone. According to statistics, Fortune 500 firms lose an estimated $480 million every year because of ineffective back-office procedures. Your back office should be outsourced to a qualified company with plenty of experience.

However, not all tasks ought to be outsourced. There are some tasks that should be kept in-house, so if you're unsure which back-office tasks to outsource, have a look at the list below:

CUSTOMER EXPERIENCE: Customer assistance, often known as customer service or customer experience (CX), is one of the most important and frequently outsourced tasks. It takes time to talk to angry consumers, listen to their problems, and allay their fears. You should be looking for prospects for growth, selecting strategic partners, or negotiating agreements.

To ensure client retention and happiness, excellent customer support is essential. This can include phone, chat, and email support. Five times as much goes into acquiring new consumers as keeping the ones you already have. By contracting out customer service, you have access to a group of experts who can assist with your incoming requests.

A skilled crew is ideally suited to manage the sensitive duty of providing customer assistance. If not, your company can experience a downward spiral. People enjoy posting negative customer experiences on social media. It may be seen by hundreds or even thousands of clients and potential clients, harming your business's reputation.

HR OPERATIONS: Payroll, Bookkeeping, and Compliance The majority of business owners detest doing the math. Updating your books might take a lot of time. Payroll calculations performed by your internal team may be inaccurate owing to lack of experience. Focus is needed because bookkeeping and payroll are prone to errors.

Payroll and bookkeeping tasks can be outsourced to maintain your company in compliance.

Payroll professionals and outsourced bookkeepers are informed about tax laws and payroll calculations. The crew that was outsourced is qualified and an authority in their profession. Therefore, leave business-related computations to the experts and concentrate on the processes that could support business expansion instead.

FINANCE & ACCOUNTING: It can take some time to create a trial balance, calculate taxes, and create an invoice. Since accounting tasks are frequently performed, they will seriously divert your attention from your primary tasks. You might not have enough money to pay an accountant a full-time salary.

Accountants that are outsourced can assist with billing, payroll, accounts receivable, and sales tax payment. They will work closely with you to keep track of your finances and make sure you don't forget to make payments. The outsourcing firm will make sure that you stay out of IRS issues.

DIGITAL LEAD GENERATION & SALES: Nowadays, to have an online presence, you must be on social media. Facebook, LinkedIn, Twitter, and other social media platforms are used by your potential clients. Perhaps you would prefer to maintain your own social media accounts. But when it comes to social media, DIY isn't always the greatest choice.

It takes more than just updating your Facebook newsfeed to manage social media. You can't handle it on your own because it's a tricky and unpredictable platform. By outsourcing social media, you can work with experts that are familiar with the platform, inclined toward technology, and up to date on the newest trends. For the best ROI, traditional selling techniques must be combined with digital selling and lead generation.

Additionally, marketing and advertising are essential to your company's success. It might aid in boosting brand recognition and expanding your clientele. There is no assurance that you will be able to create an effective marketing campaign that is in line with your brand values and produces a fair ROI if you don't know how to correctly build a marketing experience.

However, outsourcing your marketing tasks to a third-party source guarantee that you will meet your company's objectives. The marketing agency will be able to carry out a marketing strategy that fits your spending plan. Select a business partner with adequate marketing expertise.

To free you up to focus on your primary responsibilities, your outsourcing partner will have experience strategizing and carrying out marketing initiatives across all platforms. You may rely on receiving products created by professionals in their field.

It is important to remember that not all back-office tasks may be contracted out. Determine carefully which ones are not core duties because it is ideal to keep the core ones in-house.

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To have Teleperformance as your premium outsourcing partner for all Back-Office Operations in 2023, get in touch with me on nandini.alagar@teleperformance.com

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Fix a 15-min call using http://bit.ly/meetnandini