A Business To-do List of Tasks You Can Outsource

To some business owners, outsourcing is a risky proposition. Why entrust business operations to ‘strangers’ when you have a reliable in-house team? There are many reasons a company would prefer to outsource their business functions despite having a talented in-house team. Common reasons are:

• Improving company focus
• Reducing and managing operating costs
• Freeing internal resources for other purposes
• Sharing risks with a partner company
• Gaining access to world-class capabilities
• Increasing or streamlining efficiency tor time-consuming functions
• Maximizing the use of external resources

From small businesses to large enterprises, businesses of all sizes can use outsourcing to help their business expand while keeping expenses as low as possible. That being said, below are some tasks you can outsource as you grow your business:

Accounting and Bookkeeping

A growing business has a growing list of financial transactions. To keep records organized, outsource your accounting work to trusted providers. Accounting firms or individuals can assist with a variety of financial services such as bookkeeping, accounts payable and receivable, and invoicing, as well as financial analysis, reporting, and planning. Also, outsourcing your payroll processing saves considerable dollars, hours, and headaches. If you manage a small team, managing payroll in-house is easier. But once the company has more than 15 employees, handling monthly payroll consumes time since you have to keep track of applicable tax returns, loan advances, employee leaves, bonuses advances, and more. With outsourcing, your team gets paid on time while the company benefits from greater savings, more time, and peace of mind.

Administrative Tasks

Data entry, scheduling, typing, travel arrangements, and other administrative tasks can be handled by outsourced administrative services or virtual assistants. While these tasks are important in the function of your business, they are not often considered core business activities so a third-party service provider can handle them.

Human Resources

Human resource and employee acquisition functions can easily be handled by an outsourcing company. External agencies are knowledgeable in screening suitable applicants and checking character references. Using employment or HR services to manage employee benefits also simplify your hiring process since they are experts in employment standards and laws.

Marketing

Effective marketing determines how the marketplace perceives the company and its brand. With help from a marketing consultant or firm, you gain an external perspective an in-house marketing team can’t provide. Freelance writers can create engaging, unique, and quality content that entices audiences to read more about your company. You can also outsource different marketing duties like press releases, brand development, website design, search engine optimization, and paid advertising.

Lead Generation and Customer Service

Sales calls are Games of Numbers: the more calls you make, the more sales and leads to expect. Once a third-party outsourcing company has made the initial outreach, an internal sales force can close the sale. Talented salespeople’s skills are better for handling clients and closing sales instead of making cold calls. Also, it is more efficient to outsource customer service than to maintain a support staff, especially for product-based businesses.

Choosing the Right Outsourcing Partner

Outsourcing helps yield the best dividends for growing business but to realize all its benefits, you must work with the right outsourcing company. Follow these best practices to simplify your search for the right partner:

• Define a clear scope of work. Write a clear scope of work document first. Decide on your business’s needs, goals, and the solution needed to achieve your desired outcomes. If writing the work document sounds too technical, answer these two questions: what are your exact needs and what are the potential solutions for them?
• Consider the market reputation. No business can afford to work with a company unable to meet deadlines or that is unpleasant to work with. Check the history and reputation of a potential outsourcing partner. Browse reviews for a potential outsourcing company.

If you have more doubts, get in touch with the company’s previous clients and ask about their experience.

• Communicate about your budget. Unclear communication regarding the cost can complicate your relationship with an outsourcing company, as well as compromise your project. Before approaching a potential partner, finalize the amount of money you’re willing to invest in the project and communicate with the outsourcing company regarding your budget.

• Work with a flexible partner. Your chosen outsourcing partner should be flexible enough to serve urgent problems or requirements. Flexibility is also a crucial factor when you and your partner work in different time zones.

Outsourcing other tasks in your business are the keys to efficiency and growth. Focus on what your company does best and leave the other tasks to a trusted outsourcing company.