Enter the search term “benefits of outsourcing” into any internet web search engine and you are guaranteed to hit many sites, all professing the advantages of joining the outsourcing phenomena that overtook the business world in the early 90s and continues today, with anything from the “top three reasons to outsource” to a list of 32!
The four most common points you will find listed under your search for the benefits of outsourcing are;
- Cost – outsourcing functions normally managed in-house will save your business money
- Efficiency – streamlining operations to free up valuable time of in-house resources
- Focus on core business – maintaining a large staff of employees takes time and money
- Specialisation – expertise and specific knowledge is expensive and/or sparse in small companies
While these benefits are a substantial part of why businesses choose to outsource to us, they could also apply to any outsourcing company either locally or offshore. What sets The Accounting Department apart from many of our competitors is that we have also given huge consideration to the risks of outsourcing and the potential detriment to our clients, and therefore have gone to considerable lengths to ensure that the potential risks of outsourcing are mitigated. The two greatest risks we have identified are to brand, and to security.
As a business operator, you will have spent considerable time and resources crafting your brand to present to market. A fear that many operators have is that if they outsource to another company, will that brand image be carried with those personnel? The answer is yes. In fact, the right outsourcing provider can be an asset to your brand, by using their skills and experience to get things right the first time and provide exemplary customer service. At The Accounting Department we manage all communications with the same tenacity as though it was our own business. We contact your customers and suppliers as though we are calling from your office – they need never know that it wasn’t handled internally.
Secondly, the next concern is on security and confidentiality of business data or information. Given I have worked for large corporations including Australia’s largest insolvency firm helping businesses in financial distress, confidentiality is one of the underlying principles of The Accounting Department and something we take very seriously. We would be happy to discuss with you what security measures we have in place to ensure that your data is protected.
Trying to manage your own accounts is an open pit into which business operators pour wasted time. Instead of spending time focusing on growing and looking forward, they are constantly forced to look backwards at non-productive history. Done correctly, outsourcing can be a profitable and savvy way of progressing business to the next level.