If you are looking to cut costs as a small business, one of the easiest things you can do is outsource certain operations. Currently, more than a third of small businesses outsource some of their operations with more companies looking to do so in the future. By outsourcing some of your company’s operations, you are saving money by limiting your full-time staff.
Hiring independent contractors instead of employees saves time and money that would normally go into hiring, training, and providing benefits and salaries. It also helps achieve greater efficiency and allows your business to focus on its key functions and growth. Here are just a few areas you may want to consider outsourcing.
Accounting is one of the first areas most small business consider outsourcing. If you’re not a financial expert, then learning how to deal with these processes and acquire the necessary skills to do them can be time-consuming and mentally draining. Financial services like bookkeeping, adding new payees, invoicing, processing business checks and other payments, handling the company’s bank account, securing a check mailing service, and financial planning and reporting are often grouped together by freelance accountants or accounting firms. They include significant saving discounts when purchased as one package.
- Customer Service
Businesses rely on customers to survive, so having a dedicated and talented customer service system is crucial. However, you can always outsource your customer support to a virtual call center or other communication channels like live chat for greater efficiency — especially if your business deals with customers solely online and on phone calls. With the support of a secure internet connection, remote agents, and remote call center software, your organization’s general sales outreach and incoming calls can be handled externally, giving your team more time to focus on product and other core business elements. Outside contact centers and call center operations are a cost-effective way to improve customer experience.
- Information Technology Operations
Information technology (IT) is one of the main outsourced industries across the world. That’s because — unless you’re an IT company — you will most likely have a limited understanding of IT; it will mostly function as a troubleshooting mechanism within your operations. Any possible technology malfunctions or issues that may arise during your day-to-day can be easily outsourced to an on-demand team of professionals that aren’t part of your company’s primary workforce.
- Sales and Marketing
If you are looking to boost your company’s brand and reputation, then turn to a marketing agency for your needs. These content creation professionals are skilled at advertising, crafting social media posts, enhancing search engine optimization, and blogging at levels your internal team may not be able to reach. Additionally, you should also consider outsourcing to a sales firm to handle sales calls in an expert manner, thereby increasing your business.
- Human Resources
Having an outside agency dedicated to human resources is a wise and practical move for your business. Skilled human resource professionals are better able to recruit competent hires, craft attractive job postings, check references, assist with training, and manage employee benefits. HR firms also generally have a better understanding of current employment laws and standards that companies need to adhere to.
Virtual assistants are increasing in popularity and it’s not hard to see why. These individuals usually charge as little as $10 an hour for their work and offer common administrative tasks like data entry, inbox management, scheduling appointments, social media posting, and coordinating travel arrangements. Outsourcing this service, especially as a solo entrepreneur, is a great way to streamline your everyday business processes.