If you’ve ever wondered what business functions to outsource, this article is for you! When you’re on the hunt for ways to improve your business, outsourcing is likely one of the first things that come to mind. Learn about these top four business functions to outsource and how outsourcing can benefit your company.
Business Functions To Outsource
Business functions are areas that a company organizes to perform its business goals and operations. All businesses rely on external suppliers to do many of the business functions they need to operate, including back office and white-collar jobs. The primary reasons businesses outsource functions are that they tend to hire specialized skills that they don’t have within their organization and to reduce overhead costs. Take a look at these four functions that businesses outsource:
Information Technology (IT)
IT is a crucial part of a business and one of the most complex. As a result, many businesses outsource this function to an external partner who can manage their security, compliance, backups, network infrastructure, software applications, and hardware systems. In 2021, businesses spent more than $75 billion on outsourcing security.
Bring in a well-established Managed Service Provider (MSP) who can handle your system efficiently so you can focus on running your business. A good IT partner can help you keep your systems up-to-date, secure, and running smoothly, so you can focus on what matters most: running your business.
In addition to paying bills and balancing checkbooks, finance departments must also ensure that all accounting records are up-to-date. This means handling Accounts Receivable and Accounts Payable (AR/AP), and Payroll processes, which require specialized skill sets that many small businesses don’t have in-house.
It’s often more cost-effective for these companies to hire an independent consultant, accountant, or bookkeeper on an as-needed basis rather than hiring full-time staff members who may not be needed all year round.
This allows companies to focus on their core business while outsourcing the things they don’t need to do in-house. This function includes sales, customer support, technical support, and other administrative tasks.
Marketing is one of the most important business functions, and it’s also one of the most time-consuming. If you can’t edit videos or don’t understand Google Ads or social media campaigns, you should hire a professional marketing team within your budget. When you outsource marketing to a professional firm, you free up your staff to focus on other essential business functions.
If your business is growing, you may find that you need professional services that go beyond the capabilities of your internal staff. Hiring a professional contractor to handle different tasks can help your business grow, which means more sales and revenue for your business.
If you are ready to take your business to the next level, schedule a call with our experts today.