In our previous blog, we talked about the benefits of automating some of the processes in your business to save on costs. Not all processes
can be completed by machines, as some require the skills of physical people. For these tasks, business outsourcing may be an option.
Just like business process automation, outsourcing allows you to relegate some of your tasks so you can focus on your core competencies.
Outsourcing might not seem like the more economical choice compared to hiring an in-house employee at first, but in some cases doing so
actually provides a better return on your investment because of its numerous advantages:
No need to hire more employees
Outsourcing your non-core activities means there’s no need for you to hire additional employees. This is beneficial since hiring employees,
keeping them and even the process of scouting for potential candidates can be expensive for your business.
Less work for your HR department
One of the human resource department’s primary tasks is to keep track of the welfare of every employee in your company. This means taking
care of payroll, tax calculations, attendance, leaves, file management and even complaints. Because there’s no need for additional team
members, HR workload is minimised.
Focus on core activities
Your core activities are what drive your business most, so it’s only reasonable to prioritise them. With a lot of non-core activities to
think of however, you can be distracted and unable to really focus on core activities. By outsourcing non-core tasks, you’ll have more time
to focus on the more important aspects of your business.
Talent for less
Many outsourcing companies offer services that are carried out by highly talented team members but still remain affordable. It’s even
possible to work with a whole team of talents for a fraction of the cost. Pay the cost of a single talent and get input from a group of
individuals with different skillsets.
Wider pool of skills
Another advantage of outsourcing is that you are opening yourself to a vast sea of skill options. You can get access to the skills of
talented graphic designers, web developers, marketers and even financial officers through outsourcing companies who serve different clients
in different industries.
No need to worry about infrastructure
Outsourcing means not having to pay for additional infrastructure and tools in your office. When you pay for outsourcing, the cost includes
the talent, the infrastructure, the tools and other resources that are involved in the completion of tasks, e.g. software licenses, computer
maintenance and power consumption of hardware.
Pay for services only as needed
The costs of hiring an in-house employee is fixed; this means that it will cost you whether there’s a task or not. With outsourcing, you are
only needed to pay for the specific services that you need, when you need them. This can save a lot of money and ensures that all your
resources are being used efficiently.
Easdowns Wagga accountants are not only knowledgeable in the business process outsourcing realm, we also provide business outsourcing via
our Your Cloud CFO
removing the stress of bookkeeping processes and business finance management. Leave these tasks to the experts and focus on your core