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Sometimes hiring full time employees can actually slow you down and prevent your business from growing. That’s why so many startups are looking to business process outsourcing for help. Instead of bogging employees down with clerical work, outsourcing could enable your organization to grow faster by focusing it’s talent more on the core of the business.
What is business process outsourcing?
Business process outsourcing (BPO) involves contracting out certain operations and responsibilities that either take place in the back or the front office to a third party.
Responsibilities such as billing, human resources, and finance usually make up the back office or internal business functions of a company. Back office contracted work encompasses the following: purchasing, payment processing, insurance, retirement, hiring and recruiting, accounting, payroll, and general bookkeeping.
Marketing, administrative duties, as well as tech and customer support, are operations usually performed by the front office. These are more external, customer and client related business functions. Any social media, telemarketing, app testing, help desk support, customer interaction via phone or email, scheduling, and data entry that needs to be done would entail front office outsourcing.
Companies can outsource to a variety of locations.
Offshore outsourcing occurs outside a company’s country, nearshore outsourcing is in a neighboring country, and onshore outsourcing happens within one’s own country but out of the state. There are pros and cons depending on the location of the contractor. For example, a dollar can go further in other countries, but time zones and language barriers may prove problematic.
BPO is a popular startup growth hack in that it saves valuable time and money.
Outsourcing to skilled and flexible personnel allows a burgeoning business to build a team as they need to. This is ideal when compared to time spent searching for and interviewing the right candidates. Contractors are also flexible in regards to workload. Additionally, they are an affordable solution in terms of benefits and the costs of training as well. Obtaining remote workers through an agency means they are already qualified and require less of a financial investment.
Both back and front office functions are integral to keeping any company running smoothly. By outsourcing business processing, tasks can be completed with the utmost speed and efficiency.
At Number8, we help fast growing companies find quality remote workers that creatively contribute to your business’s success. If you’re interested in learning more about Number8 and what we do, give us a call at (502) 890-7665, or check out our information page!