6 Areas of Your Business You Should Consider Outsourcing

For many companies, outsourcing is a strategy to save time and money, increase productivity and free up employees for more important tasks. However, this is not only true for Fortune 500 companies or large corporations.

Outsourcing is becoming increasingly popular among small businesses as well. According to Clutch, more than a third of small businesses (37%) have outsourced a business process, and more than half (52%) plan to outsource.

But with so many options and different outsourcing services, how do you know which job functions you should be outsourcing?

Below are six critical areas of your business that you should outsource to gain a competitive advantage and free up your employees to focus on more strategic tasks:

• Customer support
• Payroll processing
• Bookkeeping and accounting
• Human resources
• Communications
• IT

1. Customer support

Omnichannel customer experience begins with an experienced customer support team

Customer service can significantly burden your business, especially as you grow. While many customers prefer to contact your business by phone, studies have shown that younger generations — millennials and Gen Z’s — are opting instead for social media customer service or other ways to answer questions.

As a result, you may burn more resources than necessary trying to provide an accurate and omnichannel customer experience — spreading yourself too thin and wearing out your team.

As businesses grow and communication channels become more diverse, you should expand your team’s capabilities to handle these customer interactions.

Outsourcing customer support frees time to focus on strategic growth activities, provide a better customer experience, and improve your brand’s overall reputation.

2. Payroll Processing

At MacTay, we support your business with end-to-end payroll management

One of the most critical areas that companies often outsource is payroll. Processing payroll, tax returns and regulatory compliance can be a complex and time-consuming process for companies.

It is often much easier to farm out this process to a professional employer organisation that can help you stay compliant and ensure process automation.

Outsourcing your payroll offers several benefits, including:

• Improved accuracy and efficiency
• Reduced costs
• Freed up time and resources
• Regulatory compliance

3. Bookkeeping and Accounting

37% of companies outsource finance-related tasks

According to a survey by Clutch, more than 37% of companies outsource finance and accounting-related tasks to streamline their processes and benefit from expert knowledge.

Regarding accounting and bookkeeping, it is important to ensure your financial records are accurate and up to date. However, this process can be daunting and time-consuming, which is why many businesses outsource this function to external service providers.

By outsourcing your accounting needs, you save time and money and gain access to expertise and support. Plus, you can rest assured that your financial records are in safe hands.

4. Human Resources

HR Outsourcing helps you gain access to a specialised workforce

For many small and medium-sized businesses, the HR function is often one of the most time-consuming and complex work functions. With little or no HR support, the business owner is often responsible for payroll, benefits administration and employee training.

While these tasks are essential, they take valuable time away from what matters most — running the business.

By outsourcing HR functions, a company gains access to a specialised workforce that is well-versed in all employment law requirements and equipped with the technology necessary to coordinate employee benefits and communicate with employees in a timely and effective manner.

If you are thinking about outsourcing your HR function, we can help you get started.

5. Communications

Manage PR communications, social media, and content marketing more efficiently

One advantage of outsourcing communications to a professional employer organisation is the immediacy of your message. Your company has a story to tell the world, and outsourcing to experienced communications professionals means you can get your story across quickly and in your way.

Outsourcing communications means handing over some or all of the responsibilities for communications — like PR and content marketing — to third-party providers who can help you keep up with all the changes in the digital sphere.

In the same way, a good communications service provider can help you manage media relations and public perception, create compelling content for your audience, and generate buzz and awareness about a new product or service launch.

Recommended reading: Consulting Services: A Business Essential

6. IT

In the age of digital transformation, IT helps businesses maintain competitive advantage

IT outsourcing is not new, but it has become even more attractive with technological advances. According to a report by Statista, IT outsourcing is expected to exceed $1.3 trillion by the end of 2023 as companies increasingly look for digital transformation experts.

As businesses become more reliant on technology and the systems that support it, it makes sense to leverage the services of IT partners who can help you create and maintain a competitive advantage.

IT outsourcing partners can provide the support and skills you need without requiring you (or your employees ) to learn specific skills and processes. Other benefits include avoidance of data and security risks to your business and significant cost savings.

Grow and transform your business with MacTay’s smart-sourcing solutions

Get access to the best people, the most innovative processes and cost-effective solutions. With MacTay’s smart-sourcing solutions, we connect you with the best talent, mitigate your people risk and help you achieve measurable improvements and cost savings for your business.

Get in touch with our team, call +2349139385550 or email: info@mactay.com.