To remain competitive all the time, corporate organizations irrespective of their sizes have to implement appropriate strategies that can contribute towards reducing their overhead cost, enhancing revenue and helping overall growth. Business process outsourcing is an effective and affordable solution for business entities looking to expand their business without making any bulk investment. Professionally organized back office outsourcing services help corporate organizations significantly minimize their operational costs, make the back office a real zone of profit generation and benefit from increased business productivity and savings.
Planned Outsourcing of Services Ensures Increased Revenue and Savings
For efficient management of back office support tasks, your corporate organization must be equipped with the necessary infrastructure, modern technology, equipment and talented experts. To set up all these, it is necessary to invest a huge amount of money. Outsourcing the non-core back office jobs to third party service providers will help you get the work done in an affordable manner.
Back office outsourcing services can streamline the workflow of your firm, and simultaneously cut down overall costs, which will enhance your efficiency, productivity, revenue and savings. Back office services from reputable companies will help you save on infrastructure costs, as well as avoid the huge outlay involved in recruitment and training of new workforce and providing them good emoluments. Additionally, these services will reduce your managerial responsibilities; and ensure that you focus your valuable time, effort and resources on more core areas of your business. All these will help accomplish your business objectives such as increased savings and revenue within a short time.
The following are the major benefits of utilizing back office support services from reputable outsourcing companies:
- Helps redirect your skilled workforce on other important business activities
- Build long-term customer relationships through delivering quality services
- Reduce voluminous paperwork
- Benefit from expert solutions
- Gain a competitive business edge
Specialized Solutions for Diverse Back Office Tasks
Back office outsourcing services offered by experienced companies excel in quality and accuracy. Equipped with state-of-the-art technology, up-to-date software, equipment, and talented staff having hands-on experience, these firms deliver customized services. Back office support solutions offered by an experienced BPO company covers:
- Data entry
- Transcription (Medical, Legal, Business, Media and General)
- Document Conversion
- Electronic Medical Records (EMR)
- Forms Processing
- Medical billing, coding and AR collections
- Website design and development
- Legal research
- Medical record review
- Software development
- SEO, SEM, SMO
- Internet branding
- Appointment scheduling
- Staffing Solutions
Reliable and focused business process outsourcing services are beneficial for many business verticals comprising healthcare facilities, banking sector, insurance companies, legal entities, information technology sector, government organizations, and others.
Why Hire Professional BPO Company for Affordable Services ?
Services provided by a professional BPO company are marked by features such as:
- Accuracy and versatility
- Three tiered quality control process
- Rapid turnaround time, except for immediate
- Affordable pricing with 30% to 40% cost savings
- Free trial facility
- Regular reports, and lots more
Back Office Outsourcing – Benefits You Can Expect.
Back office outsourcing is now seen as a strategic move that allows businesses to gain a competitive advantage. It involves the outsourcing of some or all back office responsibilities such as data entry, payroll management, forms processing and customer support to a third party instead of handling these processes in-house.
The activities and tasks for which businesses are increasingly seeking back office support are online data entry, offline data entry, data processing, database development, document management, document conversion, online product entry, image editing services, data mining services, claim processing, web research, yellow pages data entry, mailing list compilation, data entry online, check entry and processing, insurance claim entry, data capture insurance and document scanning.
Reliable back office services can help a business grow. By outsourcing these functions to an outsourcing provider, you can focus on your core business and at the same time, be guaranteed that all your tasks will be completed efficiently and on time. Many businesses process outsourcing companies can carry out these works effectively since they have a large pool of skilled workforce resources.
Benefits of back office outsourcing
- Reduced paperwork: Outsourcing these tasks to an outsourcing provider eases the burden of paperwork.
- Reduced cost: Reduced cost is perhaps the prime benefit of business process outsourcing. By outsourcing, you get your work done at a fraction of the cost that you would have to spend if it is done locally. On an average, you can expect cost savings of up to 30-40% if you outsource to countries like India.
- The skilled team on the job: A reliable BPO company ensures that your specific tasks are done by a skilled team of professionals. This ensures that the work gets done efficiently.
- Time zone difference: Businesses can take advantage of time zone by outsourcing to countries such as India. Service providers like call centers and customer care work during the late night hours to provide round-the-clock customer support.
- Time to focus on core competencies: Managing back-office operations and administrative functions consume a large amount of your valuable time. Outsourcing frees companies from having to manage non-core functions, and puts the focus back on their core competencies. Entrepreneurs benefit greatly by outsourcing these tasks.
- Increased productivity and efficiency: Outsourcing not only offers cost advantages but can also improve the efficiency of business operations.
- Sharing of risk: When certain functions are outsourced, companies share the risks associated with running that particular function with the BPO service provider.
Since back office outsourcing takes care of your back office operations, it allows you to concentrate on growing your core competencies and thereby enhancing your bottom line.
Back office process is critical to the success of any business. Most of us realize this but are reluctant to do the work. Back office outsourcing is a good option through which one can get the back office work done in a hassle free process. Nowadays, more and more business are being outsourced. This is because outsourcing is a cheap method to get one’s work done. All your back office related queries and worries can be solved with back office outsourcing. With this process, one can be rest assured that one’s work will be done in stipulated time duration.
It is felt by several business houses that back office outsourcing is much more convenient than hiring in-house professionals. This is because in house employees have to be given higher salaries and other allowances. This is not so in the case of back office outsourcing. It is more profitable to invest in back-office outsourcing as it will lead to productive results. It makes a lot of sense to get the work done by the outsourcing firm as it is beneficial in many ways. It saves expenditure of the company which can be used in other productive services. Not only this, but time is also saved as outsourcing professionals are well versed in handling their task efficiently.
Nowadays, whether the business is big or small, everyone is taking the help of back office outsourcing process. The main driving force behind this is cost reduction. One has to spend a lot of work done if one gets the work done in-house. With back office outsourcing, the same work can be done in better quality with half the cost and time. One can reap profits by implementing this process. Nowadays, business owners do not like the idea of doing the burdensome paperwork of their business. This is one of the major reasons why back office outsourcing is gaining prominence. Simple tasks which involve entering data for payroll, making travel plans, entering data on information about employee insurance and several other tasks can be easily taken care of through this process. Thus, one can share his workload burden by the third party and get the work done in an efficient manner.
Before undertaking the back office outsourcing process for one’s business, certain things must be known beforehand. It must be checked what the company is providing security measures to safeguard the data. One must also keep himself updated about the progress of the work done by the third party that is the back office outsourcing firm. This helps one to keep track of efficiency of work done. If one feels that at any time, the work done is not up to the mark; one can always take the work back from the outsourcing firm. But it is better to know about the firm and the work done by it before giving the project to it. It will surely reduce the worries to a large extent. Back office work is the backbone of any business. Thus the work must be given only in the hands of a responsible firm.
The Rewards and Disadvantages of Back Office Outsourcing
In this corporate marketplace together with the present economic climate we have a genuine push by small business proprietors to lower expenses and enhance profit margins. Several see freelancing as a way to accomplish. Back office activities of companies genuinely lend themselves effortlessly to being transferred to specialist companies. Will it take people on site to handle payroll, this is just one operation that a lot of organizations have previously contracted out effectively, it is natural consequently that other back office processes come under scrutiny with a view to outsourcing to professional firms.
So why is outsourcing a good idea? Should I not simply employ an individual for each of the projects that wants doing? The case for using an outsourcing company is a strong one as outlined in this article.
Firstly having more workers is a problem, pure and straightforward it is not great, we need to admit it, with sick pay, holiday pay, pensions contributions, and National insurance payments its a nightmare and definitely not value for money, transferring the activities to an outsourcing provider removes the many hassles, the outsourcing provider takes on all the hassles and expenses of having staff helping to make staff absence problems a subject put to rest.
- Costings : The capacity to understand what a service will cost for a financial year is attractive to many business proprietors along with the advantage that outsourcing can reduce expenses for a lot of businesses it becomes an enticing alternative matched against the costs of having workers.
- Focus : For most businesses their market just is not about financial records, human resources, IT or any number of back office functions, to use outside agencies for payroll lets the company focus on the actual central product or service. Getting the whole back office outsourced including payroll and invoicing allows every person on the workforce concentrate on making the business much more profitable.
- Service Quality : This is often an area of some disagreement between industry experts and business owners; my perspective is that making use of an expert, the dedicated business provides a better service quality than could be supplied by in-house employees. As the outsource company is going to be entirely focused on that one process, it seems plausible to presume they can supply a professional quality service. As mentioned several disagree, they believe that in house people know the eccentricities of the company and know the people active in the company providing them with an original insight to offering back office support. Either way, this is a judgment call, but it is unlikely to negatively have an effect on quality.
- Security and safety : You will find concerns that the outsourcing provider may not have your best procedures concerning security of data, this is readily overcome by being choosy and conducting your due homework in finding a service provider. Try not to be lured by ultra low-priced costs from abroad if you are based in the United kingdom and wish your payroll outsourced it will be sensible to find a British payroll outsourcing company that will fully grasp the local setting, regulations, and customs
- The Experience : You may not always be familiar with the quality of workers employed by the outsourcing company; they might have a higher turnover of staff which could have a knock-on effect on just how effectively they deal with your account. Once more being selective and selecting a local supplier with powerful systems set up ought to overcome this easily, an excellent system at your outsource partner will cancel out these types of considerations,
There are large advantages to be obtained by taking the steps to outsourcing back office processes, but like every essential service it is extremely vital that you do your homework and selects a business carefully, they ought to be specialists and recognized in their field and also have an appropriate Service Level Agreement for your company. Remember your chosen outsource company becomes your partner, you have to be assured in their capability to supply you a service and their effectiveness, trustworthiness and security. If you do this, you will have an extended, prosperous and value for money Back Office.
Back office outsourcing is a subject that scares some small business owners; we hope this article and our resources listed here are of some value to you in your decision making. The Author Ken Pride is a UK based business consultant dealing with major organizations, helping them cutting costs and increasing margins using practical growth strategies. My in publishing articles is pure to put information out there for the smaller and medium sized business owner that could not usually afford our services. There is no ulterior motive just bringing big business ideas and resources to the engine room of the British economy – the small and medium-sized enterprises that sustain us.