8 Business Functions You Should Consider Outsourcing
Are you getting leads from Instagram?
About 4 in 10 Americans use Instagram, and most check the site multiple times a day. The social media platform can do a lot more than just pass the time. It’s also an excellent tool for directing traffic directly to your website.
However, learning what to upload and when can be time-consuming. Instead of doing everything on your own, we suggest outsourcing to a social media expert. You can either hire an individual or an entire team, depending on your needs.
What other business functions should you consider outsourcing? Read on to find out!
1. Finance and Accounting Business Functions
First, on our list of business functions to outsource, let’s talk about accounting. Instead of overpaying for an in-house bookkeeper, outsourcing accounting is much more affordable. However, that doesn’t mean you can simply hire the first finance company you come across.
Instead, you’ll need to clearly identify your accounting needs so you can look for a firm that can meet them. Accounting involves more than just payroll.
You could also outsource your general ledger, customer billing and payments, and account reconciliations. Services like www.taxfyle.com/tax-preparation-outsourcing, help business owners with their tax needs. Once you know the type of accounting services you need, start looking at the different levels of experience each company offers.
Instead of price shopping, find an outsourced accounting firm that has built up a reputation. The more positive online customer reviews you can see, the better!
Next, you’ll need to consider security. To prevent falling prey to fraud, double-check the accounting firm’s references. Make sure that all of their cyber security protocols adhere to the latest compliance standards.
You can even ask one of the customer service reps to let you know their company’s policy and security. Ask for an explanation of what they’re doing to keep customers safe. You should also peruse the 3rd parties website to see what safety measures they list online.
Next, compare what the customer service representative tells you, to what you read on the company’s website. If there are discrepancies, you might not be dealing with a legitimate company.
A quality accounting firm will be happy to explain the encryption methods they use. They should also share the other measures they’re taking to protect your data. You can check out these cyber security tips to get an idea of the latest safety practices online.
2. Shipping and Logistics
As you begin to scale your business, you’ll realize that shipping things on your own are a big hassle. Whereas outsourcing shipping and logistics mean you can focus on the core aspects of your company. For instance, you can enjoy more time focusing on things like product development.
Another advantage is that third-party shippers are usually better at fulfilling orders. They already have a lot of experience with handling, packing, and order fulfillment. That means you’ll be able to improve your company’s order fulfillment time and possibly save your customers money.
The downside to outsourcing shipping is that sometimes third parties can have confusing prices. The pricing structure can be challenging to understand as a new merchant. However, you shouldn’t let the new information overwhelm you.
Simply let the company you’re considering using know that you’re new to outsourcing. Let them know what services you want, and let them provide a run-through of the rates. After they list the rates, ask the customer representative to break down each category.
Lastly, in some cases, the returns process can suffer when you outsource shipping. To avoid any customer upsets, only choose companies that have a track record of pleasing clients.
3. Front Desk Receptionist
Do you do most of your work remotely? As more businesses begin to transition to a remote working structure, receptionist needs are changing. A virtual assistant could be the perfect solution if you don’t have a physical location where you need someone to greet clients.
Virtual assistants can help with answering phone calls, sending out emails, and social media management. You’re going to get what you pay for, so be wary of any lowball offers.
A quality virtual assistant service will typically cost $300 a month or more. Before choosing a company, make sure that they will offer all of the services you need.
Often, virtual assistants will be functioning as independent contractors. They’ll be offering administrative services from a remote location, such as their home office.
Along with answering phone calls and managing email accounts, they can also help you plan your monthly schedule. If you need someone to schedule hotels, book flights, or schedule appointments, the right virtual assistant can handle it all.
4. IT Department
Next, on our list of small business functions to outsource, let’s talk IT. Should you outsource your entire department? The answer is going to depend on the type of company you’re running. If you don’t already have an in-house IT department, outsourcing the responsibilities will be easier.
If you already have an IT expert, you could outsource the menial tasks that are taking up too much of their time. That way, your experts can focus on solving significant IT issues that could impede your company’s growth.
Outsourcing IT staff members also means you’ll have fewer expenses upfront. Instead of having to worry about paying for IT certifications, you’ll be able to focus on getting the things your company needs. You’ll also be able to save when it comes to buying the latest software and equipment.
Quality third-party companies will use the latest technology to help your company run smoothly. All menial issues, like customers getting locked out of accounts, will no longer be your concern. Instead, the outsourced experts will handle all of your recurring tech issues.
How does payment work? When you hire an outsourced IT company, they’re going to provide you with a set fee. The fee will vary depending on the IT services your company needs.
5. Content Marketing
Running a solid social media campaign is only the beginning of content marketing. You’ll also need to ensure that your company stays up to date with the latest blog, web copy, and press release practices.
Since the world of content marketing is constantly changing, hiring a third-party team that’s up to date on the latest trends can be helpful. Not to mention, content marketing can be very time-consuming. Coming up with creative blog titles and writing posts can take hours out of your day.
Even after investing half a day’s work into crafting the perfect blog post, you could wind up with content that doesn’t convert. Thankfully, a third-party content marketing team will know how to create content your readers want to see.
You’ll provide customers with informative content that positions you as an expert in the industry. We suggest looking for a content marketing firm that will be able to handle aspects of your needs. For instance, look for a company that deals with social media, posting directly to your website, email campaigns, and press releases.
If you plan on creating a lot of video content, make sure the third-party team has a stellar videography department oo. By taking the time to improve your Tik TokYouTube channel, you could more than double your business within the year.
6. Sales Professionals
Are you a professional salesperson? Or do you already have one working for your company? Sales are more than a job position; it’s an art form. Effective salespeople have the right combination of talent, passion, and experience. Don’t mess with a good thing if you already have an effective sales team working for your company.
If it’s difficult for your sales agents to keep up with all of the leads, it might be time to outsource a portion of your sales program. By outsourcing the right part of your sales program, you’ll be able to focus on your more prominent clients, optimizing your sales efforts. Another advantage is that it’ll be easier for you to mitigate turnover.
Nationwide quit rates are up by 2.9%, and they may continue to rise. As more employees are transitioning out of jobs and searching for their ideal position, it can be difficult to retain quality talent.
Thankfully, third-party sales teams do a practice of only employing the best members. You’ll get instant access to a well-qualified team without having to go through the hiring process.
We also suggest looking for an outsourcing partner that has a nationwide footprint. It’s even better if the company you choose has an international reputation. You should also find a company that’s willing to offer flexible solutions.
For instance, you should be an option to hire full-time, part-time, and even seasonal sales associates. Before signing a contract, double-check that it gives you the ability to adjust your needs as your company changes.
7. Outsource Manufacturing
You can also cut costs when you outsource business functions related to manufacturing. Small companies and startups will benefit the most from outsourcing the manufacturing department. Instead of having to provide the capital for equipment and labor, you’ll be able to get right to work.
There are a few different factors to consider before outsourcing your manufacturing department. The 3 factors to consider are; labor, overhead, and flexibility.
First, you’ll need to calculate the total labor cost for each employee you would need. Determine your overhead cost as well. For instance, calculate your utility and maintenance fees associated with the manufacturing operation.
Next, think about flexibility. Does your current setup give you the flexibility you need should customer demands change?
Setting your company up to have the scalability it needs is vital for your success. If a sudden increase in customer demand happens, having a third-party manufacturing team means you’ll be able to meet all of their needs.
For the best experience, you’ll want to look for quality vendors with a reputation for providing excellent products. We suggest reaching out to other manufacturers in your area to get their advice. Find out what they’re doing to reduce costs, and then do a little bit of your own research.
Overall, you should avoid trying to copycat other companies. Instead, look for a third-party manufacturing model that works for you.
8. Event Management
Are you planning a big event for your entire organization? From the preparations all the way to the execution, managing events takes a lot of time. You might wind up calling on workers to help plan things, which could ultimately reduce your company’s productivity.
Outsource the entire occasion to a third party instead of stressing yourself out with all of the details. An experienced event management firm will already know who to call. They’ll have working relationships with food caters, technicians, sound providers, and more.
You’ll need to be very specific about what type of event you want to have for the best results. If you’re looking for a formal event, explain to the event manager what you’d like to be eloquent about the event.
Will the attire be the only formal thing? Or are you going to also want fine dining food options? Let yourself be creative as you picture the perfect outing to treat your company to. Explain your vision for the event to the management firm, and let the magic unfold.
Have More Time in Your Day
What business functions do you think you can benefit from outsourcing? Are you ready to invest in a quality sales team? Did you like the idea of handing over all of your payroll responsibilities, so you can focus on growing your business?
Outsourcing can be intimidating at first, but you shouldn’t let doubt keep you from success. Start looking for an experienced third party who will be able to handle your outsourcing needs, so you can save time.
Ready to be successful? Then you owe it to yourself to check out the rest of our blog.