What is business outsourcing and why should your SMB consider it?
Business outsourcing is the process of hiring another company or individual to handle certain business functions on your behalf. This can be done for a variety of reasons, including cost savings, improved efficiency, and access to specialized skills and resources.
What are some common business functions that are outsourced?
There are a number of different business functions that can be outsourced, including:
- Accounting and bookkeeping – This is one of the most commonly outsourced business functions, as it can be very time-consuming and complicated. By outsourcing to a professional accounting firm, you can free up time to focus on other aspects of your business, and have peace of mind knowing that your finances are in good hands.
- Human resources – From recruiting and hiring to employee onboarding and training, there are many HR-related tasks that can be outsourced. This can save you a lot of time and hassle, while also ensuring that these important tasks are carried out properly.
- Marketing – Many small businesses don’t have the budget or manpower to invest in a full-fledged marketing department. However, outsourcing your marketing needs to a professional agency can help you get the exposure and results you need without breaking the bank.
- Customer service – Not all businesses have the ability to provide 24/7 customer support. But if you outsource this function to a reputable call center or customer service provider, your customers will always be taken care of, no matter what time of day it is.
- Information Technology support – Technology is a crucial part of any business, but it can also be very expensive and time-consuming to manage on your own. By outsourcing your information needs to a professional service provider, you can save money and keep your business running smoothly.
- Shipping and logistics – If you sell physical products, then shipping and logistics can be a big drain on your time and resources. Fortunately, there are many third-party shipping and logistics companies that can handle this for you, so you can focus on other aspects of your business.
- Social media – Social media is a powerful marketing tool, but it can also be very time-consuming. If you’re not confident in your ability to effectively manage your company’s social media accounts, then outsourcing this task to a professional can be a wise move.
- Event planning – Organizing events can be a big undertaking, especially if you’re not experienced in doing so. By hiring an event planning company, you can take the stress out of planning your next big event, whether it’s a corporate conference or a private party.
These are just some of the many things that your small to medium business can outsource. By hiring a professional to handle these tasks, you can free up time and resources to focus on other aspects of your business. So don’t be afraid to outsource – it could be just what your SMB needs to take it to the next level.