Business Process Outsourcing is the subset of outsourcing that involved the contracting of the operations and responsibilities of a specific business process to a third- party service provider.
Here are the three questions that you need to ask yourself to outsource a process.
- Will this save me time?
- Will this help cut costs?
- Can an external provider do a better job?
Data entry, competitor research and database building are essential yet time-consuming. If you can get them off your hands, you can focus on the core competencies of your business.
And tasks like financial analysis and website development require skills that your team might not have. It’s best to outsource these tasks to external agencies or freelancers who specialize in these fields.
Almost every business task can be outsourced, here a list of jobs that would benefit your business the most outsource.
Freelancers can do the groundwork of doing research for different aspects of your business.
They can identify potential customers, find events you should attend or gather market data.
The research process can be time-consuming. If you focus all your time and energy on market research, you won’t be able to focus on running a business.
Dedicated research assistants can take over these routine tasks. They can conduct research and compile the information in a summarized format that you can quickly go through and is easy to understand.
Social media is important for the growth of your company. You can connect with your audience, find clients and build your brand.
Freelancers or VAs can create and schedule posts on a day-to-day basis. They gather performance data and statistics, create reports and give recommendations on what’s working and what’s not.
Virtual assistants can keep you up to date with current consumer trends and conversations on social. This data ensures that your business is always moving in the right direction.
Having an external social media team can give these functions the attention they deserve.
This is a way to build an online presence is through your website and blogs. Hire remote freelancers to ghostwrite and edit content.
They help with SEO and SEM. A well-maintained website and constant stream of information can provide great value to potential customers.
Keep in mind that this is a time-consuming activity. Its prudent to find a dedicated writer who will consistently provide you with quality content.
Finance and Accounting
Finance and accounting (F&A) were two of the first processes that companies outsourced.
According to an Ovum study, the most common services within accounting was payroll accounting, accounts payable and account receivable.
Many companies have begun to outsource their entire finance department. And outsourcing services can add value with additional expertise.
And these services help with strategic functions, like budgets, forecasts, and internal audits.
Outsource all your mundane tasks to a Virtual Personal Assistant. They can maintain daily tasks like scheduling appointments, answering phone calls, or booking flight tickets.
You can free up a lot of time for yourself to maintain a healthy work-life balance.
Outsourcing has become synonymous with customer service and for a good reason.
If your business is large, you would need a team of customer support reps connecting with your clients. This would incur operational and installation costs as well.
By hiring a remote customer service team, you can maximize consumer satisfaction and reduce churn.
The processes you choose to outsource depends on the kind of business you are running.
You can check out our complete guide to outsourcing for a detailed discussion on the topic.