back office outsourcing

business-efficiecy

The Top Business Efficiency Lesson During the Pandemic

Business, Offshore Back Office / By

Since the hit of COVID-19 across the globe, it has completely changed the landscape of business practices. In the past, employees working for companies were required to physically be at the office working from 9 to 5. But then they realised the benefits of having remote workers.

Smaller businesses started considering back-office outsourcing to remote workers out of the country to significantly reduce cost.

What is back-office outsourcing?

Storefronts help businesses generate sales and profits, but it needs support to do so. Vital back-office functions such as accounting, bookkeeping, data entry, human resources etc. need to be in place. However, it all costs – rent, equipment, supplies, labour cost.

Large companies typically have in-house teams to support their functions. But for small business owners, they will choose to outsource these functions to a third-party – contracting them to do all the work for the business.

 Benefits of Back-office Outsourcing

For new entrepreneurs, it might be tempting to do all the administrative tasks yourself. But in the long run, it will take out much of your valuable time on income-generating activities. Here are two main advantages of why you should consider back-office outsourcing.

  • Receiving professional services 

Hiring and maintaining a full-time employee is costly to businesses in developed countries. Business owners pay salary, benefits, employment insurance, pension plans and more. With outsourcing the functions, businesses can have their administrative work done with a much lower cost and efficiency.

  • Making your company more competitive

Small business owners should spend more time searching for new business opportunities rather than spending hours in front of the computer preparing taxes and invoices. With back-office outsourcing, you have the option of choosing what functions to be outsourced. For example, one might want to outsource only the tax reporting but not the bookkeeping function to a professional accountant.

Business owners should consider the long-term plan of their businesses when choosing an outsourcing company. Will the company expand internationally? Will the business grow in the future? Are there going to be more shareholders in the company?

Related article: Back-Office Outsourcing: How to Remain on Top of a Competitive Marketplace

  • Free up time and money

This is the biggest benefit for business owners. You can hire a quality full-time employee at a fraction of the cost. It can also eliminate the office location and you have access to professional, top-notch services whenever and however you want.

More and more new businesses are leveraging the power of back-office outsourcing to find more time in their day and save costs.

Conclusion: All About Saving Time and Money

COVID-19 pandemic is a wake-up call to all businesses around the world to adapt to new practices. Business owners have learned that remote work has endless possibilities in the current era. Renting an office is not necessary now and employees are encouraged to work remotely.

With the expansion of the internet, back-office outsourcing to another country has become increasingly popular nowadays to reduce cost. It helps business owners be more competitive in the marketplace and save time.

Why not try it out today and contact Dynamic Business Outsourcing Solutions for a free no-obligation consultation directly from its CEO and Founder Jacqui Miller.

bpo-marketplace

Back-Office Outsourcing: How to Remain on Top of a Competitive Marketplace

Offshore Back Office, Outsourcing in the Philippines / By

When a company wants to stay on top or improve their competitive position in a highly competitive market, they typically look to doing something internally to transform their position whether it’s learning a new technology, developing an innovative process, or even adopt a new business model.

These traditional strategies for enhancing competitiveness are sound but not the only option. More and more organisations turn to outsourcing to improve the competitive landscape, reposition their companies, or restore how they do business.

Thus, small and medium-sized enterprises (SMEs) are trying to find the most suitable offshore back-office provider that will help them achieve success.

With all the tasks available for outsourcing, and a lot of choices, finding the most equipped provider for your service is not as easy as it sounds. So, to keep up with the competition, most importantly with the industry giants, outsourcing providers have become very aggressive.

The demand for back-office outsourcing services

On a recent study, it is said that the outsourcing market is expected to see an annual growth rate of 7.4% in the next 6 years. Partially, this is because businesses are looking at becoming more global, complex, and digital to keep up with the trend. So, the initial step is to adopt the latest developments and work on better strategies to properly outsource.

marketplace

Along with the demand for call centre agents, other popular services today include back-office outsourcing services. Based on the latest data, 74% of companies outsource IT-related services, 52% on HR functions, 43% procurement, and 39% on financial services.

But first, how well do we know back-office outsourcing?

What is back-office outsourcing?

Back-office outsourcing is the process of delegating non-customer facing operations to a third-party supplier. The most common back-office services outsourced by companies are administrative tasks that require a certain level of skill.

Most startup entrepreneurs venture in fields that they are good at. However, to make the business running, there are other positions that must be occupied too. Some of which include; HR, payroll, accounting, marketing, and other support tasks.

Some companies try to do these tasks themselves but eventually didn’t get the results that they wanted. Most of the time, they ended using up all their time and fail in focusing on their core competency.

Why do businesses choose to outsource?

Both small and big companies have been outsourcing for a long time. Their number one reason remains to be for cost-savings. But, there are a lot more reasons to consider aside it. With outsourcing, businesses are not only expected to save a huge heap of money but also gain more time to focus on their main goal. Other entrepreneurs also take this time to make sure that they use their free hand in creating better strategies to expand their businesses.

Most of the time, there are telltale signs that prompt you to outsource, especially when you need it most, watch out for those.

Conclusion

Given the overwhelming advantages of outsourcing, back-office outsourcing is becoming increasingly strategic and even a game-changer.

Back-office outsourcing is changing how business is done. It is a powerful way to improve business focus, achieve better resource utilisation and allows the business to gain a competitive edge in the industry.

Now, we here at DBOS believes that if it is not your cream of the crop, then you should delegate it to the experts. And as an outsourcing company in the Philippines that holds a reputation for providing the best services to all our clients, we make sure to pick only the best talents. Our main goal, to help our clients grow their businesses while saving up to 70% on their labour costs.

Want to know more? Contact DBOS today and get a free consultation with our CEO/Founder.

provider

Things to Remember When Choosing a Back-Office Outsourcing Provider

Offshore Back Office, Outsourcing in the Philippines / By

To remain at the top of this competitive world of outsourcing, there are two highly important things to always remember: to keep nurturing the relationship between you and your outsourcing provider and to find the right people for your outsourced team.

Now, we already know that the business process outsourcing industry is endlessly developing on a global scale. Its advancements in the past years will only keep on evolving as to cope up with the fast-paced change in the business platforms and rising technologies.

The global outsourcing industry will remain on contributing to their countries respective GDP. Startup companies and businesses of all sizes are still expected to flock on most of the sought after locations for outsourcing.

On the other hand, back-office outsourcing in the Philippines is expected to take up at least 34% – making the country as the top choice for digital marketing, content production, virtual assistant, web and software development, data processing, HR services, and other non-voice roles.

With these numbers, expanding businesses and growing competitors in the field became normal and are almost expected to happen every single day. Businesses who take the risk of amplifying their ventures are taking huge leaps in search for the most well-suited outsourcing partner for them. But really, how can they be so sure that their services are in good hands? Where did they found the provider? How did they come up with an agreement when there is little to no interaction between them before closing the deal? Is it only based on a few feedbacks and a lot of trusts?

Outsourcing red flags: How to tell if your provider is not good for your business?

While outsourcing is a great investment that can unquestionably do wonders to your business, it could also be your worst nightmare. That is why startups are second-guessing the power of entrusting their non-core tasks which are mostly back-office services to an outsourced team. Yes, the risks are high while the guarantee is not at all certain. So to help you come up with the final judgement, here are the red flags that say, “it’s time to find another back-office outsourcing partner”:

provider

  • Different problems, same solutions.
    Different problems require different solutions, basic. But if your current outsourcing provider is applying the same solutions for every single issue, then that’s where you draw the line. Remember that a great outsourcing company is always willing to go the extra mile to provide solutions that are customised with each and every client’s issue.
  • Unmatched company values.
    Work with someone who has the same values as you and your business. If your outsourcing partner has a different way of handling your people as to what you have envisioned or what you have initially agreed upon, then you are on the wrong partnership. Find another provider whom you felt comfortable working with and is heading towards the same goal as yours.
  • Your provider is not transparent with you. 
    A reputable outsourcing provider practice transparency in all facets of how they do business. It is also the key to successful collaborations and long-term relationships. Now, if your current provider is irregularly sending you reports, progress, and current status of your outsourced team under their supervision, then that is a call for immediate concern. Take note that a great outsourcing partner must be practising a culture of openness.

Characteristics of the right outsourcing partner for your business

A buzzword that shares the same concept with finding the right outsourcing partner is known as rightsourcing. Technically, rightsourcing is about choosing the right source to accommodate your required services and helps you yield the best dividends possible. But what really does it takes to be the right outsourcing partner? Here are some of the most important characteristics to take note of:provider

  • Reputable track record.
    The right outsourcing partner is guaranteed to be trusted by a huge number of businesses. They never compromise the quality of their services and feedbacks about them are always superb. In today’s internet-connected world, bad reviews on companies are almost impossible to miss. So do your own in-depth research and background checking to be 100% sure before signing on an agreement.
  • Clearly communicates the budget.
    As one of the major factors about outsourcing, presenting the cost to a probable client is an important step that could both make and ruin partnerships. If you are expecting the best services from a high-end outsourcing company, then you should anticipate their pricing. But when you choose to partner with a small outsourcing company, then expect a lesser amount in pricing.
  • A flexible outsourcing partner.
    Flexibility is important when choosing an outsourcing partner for your specific services. They should be flexible enough to accommodate your needs and requirements, as well as can urgently provide support before coming up with an agreement.

The perfect back-office outsourcing provider

Among the hundreds of back-office outsourcing providers in the Philippines, there is one that would definitely be a perfect fit for your business. But before pooling for an effective outsourcing provider, you should list down the back-office services that you are planning to outsource. Also, take note of the benefits that you’ll get if you outsource your back-office processes. Here are some:

  • More focus on your core operations
  • Field professionals with expertise on your back-office tasks
  • A higher level of flexibility
  • Access to state of the art technology and infrastructure
  • Cost-effectivity
  • No hassle staff acquisition and retention

If you’re unsure of all the back-office tasks and services that can be outsourced, check out this list:

  • Payroll outsourcing
  • Data entry
  • Virtual assistant
  • HR outsourcing
  • IT support
  • Digital marketing
  • Search engine optimisation (SEO)
  • Social media marketing
  • Email marketing
  • Content marketing
  • Graphic design
  • Accounting services
  • Web/Software development

If the services that you’re looking for is not on the list, most outsourcing companies can also customise a role that would exactly fit your needs.

Remember that a perfect back-office outsourcing provider is the one that compliments your service requirements, goals, and vision. It should also continuously support your endeavours and the one who is willing to work with you to achieve success.

On the other hand, you must learn how to trust your back-office outsourcing provider and hear them out in times when you are in doubt. As they are fulfilling the duty of looking out for your outsourced team, you should also be open to communication all the time to achieve a harmonious working environment.

Conclusion

Back-office outsourcing can turn out to be the best business move that you’ll ever do when you meet the perfect provider for your business. All you have to do is make sure that it is a reputable provider with an outstanding history in their field. Learn to check for feedbacks and do your research too.

Now, if you want to meet an outsourcing provider with a good track record, satisfied clients, and a guarantee that can help you save up to 70% on your labour costs, contact DBOS today and get a free consultation with our CEO/Founder.

payroll-services

4 Reasons to Outsource Your Payroll Services

Offshore Back Office, Payroll Outsourcing / By

Salaries and wages are important aspects of an organisation. They are part of the time-consuming payroll services that your business does not directly profit from but is highly-important.

In some companies, accountants and bookkeepers handle these services. But as you’re looking out on growing your business, you should stop stuffing other tasks to just anyone. Doing so can pose a serious risk to your company if they don’t meet the compliance standards, taxes, and other obligations. It is the main reason why dedicated payroll experts are needed instead of someone who only knows a thing or two.

In comparison to in-house, an outsourced payroll partner is more familiar with the legalities of other countries, as well as the various approach to ensure a more efficient system. An outsourced payroll partner is usually dedicated to doing one task only as experience enables them to create a better approach to things.

If you want to know more about the importance of outsourcing your payroll services, check out these 5 reasons why:

1. More time for core competencies

By default, outsourcing your payroll services will free up a huge chunk of your time. This will help you focus on the more important matters, most especially if you are growing your business. Also, you will be able to decide on other revenue-generating strategies that will increase your business value. Finally, your staff will be able to focus their attention to their respective fields that will eventually result in increased productivity.

2. Peace of mind about compliance

When a specific task is not revenue-increasing for a company, multiple errors occur here and there. These errors could be costly if not properly addressed. Also, navigating through the rules and regulations of payroll can be a challenge if it is not your cup of tea. Every single detail is hard to absorb and remember if it’s something you don’t specialise in. But, payroll experts can handle it all too well. They are well-informed on the latest updates and changes covered so obligations will always be met in a timely manner.

3. Improved security

Digital security is very complex and costly but, payroll outsourcing providers ensure that they invest in highly skilled specialists. These specialists maintain payroll systems and make sure that they are fully secured.

When you choose to outsource your payroll services payslips, leave applications, and other paper-based forms will be eliminated to make way for digitised materials. All these files will also be organised and available online for your review.

4. Dedicated payroll experts

Choosing to outsource your payroll services will give you access to specialists that will provide you with nothing but quality services. These payroll experts are experienced and always ready to assist you at all times. Having an outsourced team will definitely help reduce the pressure from your in-house staff.

Outsourcing your payroll services can create a big impact on your business someday. Companies of all sizes do this nowadays because of the numerous benefits that they’re getting.

All these benefits and more will be yours when you outsource with DBOS! For more information, check out the other back-office offshore services that we offer and get a free consultation from our CEO/Founder!

back office functions

Back Office Functions You Should Delegate Today

Offshore Back Office, Offshoring in the Philippines / By

Outsourcing is never-changing, but what and why companies do it is what changed the most. Companies nowadays wanted to be ahead of their competitors which are in contradiction to Deloitte’s report that the top reason is to cut costs.

As we are in the phase of innovation, all manual tasks can be quickly finished resulting in higher productivity. A report from the Market Research Future concluded that the global BPO market will continuously grow by 11 per cent until 2023. And it is because of innovative outsourcing. This upgrade even made the tedious back-office functions more manageable and easier to accomplish.

However, those tasks should still be outsourced to spend more time on the company’s core competency.

Know more about back-office outsourcing and see which functions you should be delegating today.

Accounting and payroll

Handling company finances is a very particular task that could eat up all of your time. What more when you have to keep invoicing a client who doesn’t pay up to date? Well, everybody wants to get paid but only a few are willing to take on the legwork because it is definitely time-consuming. However, when you choose to outsource your accounting and payroll, you’ll be saving a lot of money and time. And if you think that outsourcing your payroll would put your finances at risk, you’re definitely mistaken.

Delegating this process to a trusted company that prioritises electronic security actually decreases the chance of cyber theft.

Recruitment

Acquiring talents up to the actual onboarding of new hires is a very long process. Except for the recruitment costs that kept on piling up, the eye for a good hire could only be done by a professional. So stop wasting time trying to find the right staff and let an expert handle the task for you. Not only will you be saving huge recruitment costs, but also maximising the time to grow your business.

Data processing

Detail-oriented tasks like data processing or data entry require strict attention. Due to the repetitive nature of inputting, organising, and cataloguing of data, it is also time-consuming.

Now, if you choose to outsource your data processing, your time will solely be for your business. Thus, you can make better strategies for the growth of your business.

Among the countries that can confidently provide these back-office outsourcing services is the Philippines. As one of the world leaders in the BPO industry, the country is home to thousands of foreign outsourcing companies.

One of them is the Dynamic Business Outsourcing Solutions, a fast-growing Australian-owned offshore staffing company that caters to services which can help you save up to 70% on your wage costs! Reach us today and get a free consultation with our very own Founder/CEO.

back office

Everything You Need to Know About Back Office Outsourcing

Offshore Back Office, Outsourcing in the Philippines / By

Running a business means overseeing all of its functions. These functions are commonly divided into two categories: the front office, which handles all processes that serve as the façade of your company; and the back-office which is responsible for administration and support functions.

Usually, large enterprises build their back-office away from where the front is. On the other hand, small businesses often utilise their few employees and ask them to multi-task to save on labour costs. However, making an employee do one too many jobs can compromise the quality of their outputs. 

In order to effectively cut costs on labour and other expenses, companies have resorted to back-office outsourcing. …

Everything You Need to Know About Back Office OutsourcingRead More »