Is your business falling behind because you’re too busy with day-to-day tasks to do meaningful work? Entrepreneurs understand better than most that there are too few hours in a day.
If you wish you had more time for growth-oriented tasks and creative thinking, you might try outsourcing some of your pain-points. Outsourcing the most draining tasks that you do on a daily basis could be the key to creating more room for you to focus on things like strategic planning and brand recognition. Here are some fantastic outsourcing opportunities to get you started.
Managed IT is an extremely popular outsourcing option for SMEs. Research has shown that over half of startups globally are outsourcing their IT requirements, with a further third indicating that they want to as soon as possible. The benefits can be significant. Aside from the stress reduction that you get from handing over your IT to trained professionals, you also stand to save up to forty percent compared to training your own in-house IT team. Managed IT is also a fantastic option for growing SMEs who need to be able to expand their IT capabilities at short notice when demand goes up.
Optimise Your Team’s Productivity
If you’re doing manual task the old fashioned way, you may be wasting a lot of time and resources by not optimising your time and activities. Even if you hire extra staff, it’s useful to ensure that everybody’s time is being spent optimally. Depending on the industry you’re in, useful resources such as package design software, file management and mail handling could all offer significant savings in terms of time and productivity.
Hand over Payroll to an Expert
Let’s be honest: nobody enjoys the job of doing payroll. One the one hand you have the complexity and technicality of compliance requirements, and on the other hand, a mistake in payroll means that your valuable team could end up with the wrong pay at the end of the month (the last thing you want to happen in your organization when you’re trying to retain your amazing talent). Many SMEs struggle with tax and HR compliance responsibilities because they don’t have a dedicated payroll team. But outsourcing your payroll (or investing in the right Payroll software) could help to smooth this complex process.
Not only can handing over your payroll to a qualified external partner drastically lower the incidence of errors in your monthly processes, but it can significantly reduce your company’s overall operating costs. It’s worth noting that companies that opt to outsource their payroll requirements typically save around 20% more than similar sized companies that prefer to keep their payroll tasks in-house. On top of major savings, outsourcing payroll can also increase your employees’ trust in your organization, as you’re less likely to end up with pesky accounting errors at the end of the month. That means you’re less likely to lose any of the talented individuals you’ve managed to attract to your company.
Outsourcing could be a fantastic solution for your business, if you know how to puck the best option. These ideas will help you make the ideal outsourcing choice for your business.