With the ever-growing number of Australian start-ups and small businesses, outsourcing has been more viable in recent years. Aside from the increased operational efficiency it offers, this business practice allows business owners to scale, increase profitability while cutting costs.
Small business functions that you can outsource
There are tons of Australian companies that choose to outsource functions and resources for their operations. This practice has been proven to be an effective way to grow your business.
If you are planning to have your own start-up or small business, here are some of the best back-office roles that you can outsource:
Your payroll deals with your business’ expenses and other calculations. It includes payroll tax statements, year-end taxes, and more. When you outsource your payroll service, it will ensure that your employees and taxes are paid accurately and on-time.
Payroll is an in-demand function to outsource for small businesses. This is one of the tasks where mistakes are prone to happen, so entrusting this task to the experts or acquiring accurate payroll software is the best way to go.
In addition, outsourced payroll services have been shown to decrease costs and increase compliance.
Accounting handles your business’ day-to-day transactions, such as coding, accounts payable and receivable, financial reports, and many other services. It is one of the most common roles needed for small businesses.
In-house accounting teams can cost a lot of money – money that can be saved or spent in other relevant strategies. Additionally, hiring in-house means having to spend a lot of time and energy to learn all the processes and compliance standards needed by the department.
When you seek the services of an outsourced accounting team, they can effectively and efficiently manage this area for multiple businesses at once. This not only increases efficiency and saves money, but also gives you the quality of work needed for the role.
Marketing refers to the process of strategically selling your products and services. It encompasses your social media management, content creation, video editing and posting, and official branding.
The goal for start-ups and small businesses is to grow your business in a calculated period of time.To make this possible, an outsourced marketing firm can help you to get known and expand your business more quickly.
Your offshore marketing team can generate the ad designs, campaigns, creative content, and any social media relations off your plate so you can focus on the internal functions of your business.
Benefits of outsourcing for small businesses
Outsourcing firms are filled with professionals who can deliver the job functions with desired results. This strategy also allows your business to benefit from the following advantages:
Access to a skilled workforce
Countries such as the Philippines are known for their skilled talented workers looking for employment. The country also generates around 650,000 eager college graduates annually – so rest assured that the professional workforce is there, stronger and better than ever!
From the outsourcing companies’ point of view, their recruitment teams are thorough when it comes to the recruitment process. This is so when you outsource labor, you will have access to a talented workforce that has already been meticulously screened by your outsourcing partner.
They will handle all the tedious and meticulous tasks for you: the hiring, interview, and onboarding process to ensure that only qualified staff will work on your end. Further, you have the option to be as involved as you want in the hiring and training processes.
Reduced operation cost
The cost of turning in to a service provider is lower than setting up in-house operations for several reasons. This is because the external company acts as a separate entity and they are responsible for their own cost of operations.
You can save 70% of the employment costs when you outsource, as BPO firms shoulder the expenses needed for logistics and have the capacity to hold training and conduct bigger operations. This will save a lot of money on your end.
Outsourcing companies are sometimes working in a different time zone than Australian companies that want to outsource. Good thing that the Filipino workforce is known for its resilience and workload flexibility.
This ensures that the workforce, whether they might be working day or night, is expected to conduct seamless operations. Your provider can manage its flexibility with outsourcing by working in multiple time zones by simply allocating the workforce into different work shifts.
Grow your business with Six Eleven BPO
Undeniably, outsourcing feels like a big step towards upgrading your business and you might feel that you’d lose control during the process. With the right outsourcing partner and a strong working relationship with them, you can yield profitable results that would not only meet but exceed your expectations.
Six Eleven BPO is here to guide and grow with you through your outsourcing journey. Discover how they can benefit your small business with the functions and resources you can outsource from them. See your business grow it into the company that you want it to be.