Whether you’re an ambitious entrepreneur or the owner of a fast-growing business, there are lots of different business functions that you can outsource. Some of the best benefits of outsourcing include:
- Reduced costs
- Increased efficiency
- Access to expert knowledge
Ultimately, this is why over $700 billion was spent on outsourcing in 2022 alone.
No matter which industry you’re in, whether it’s healthcare or gaming, you should think about outsourcing some of your business functions. Specifically, you should outsource the functions you might not be very good at and that requires a considerable amount of time. As a business owner, it’ll make your life that extra bit easier.
Having said all of this, which business functions can you easily outsource with minimal fuss or hassle? It’s a great question — and it’s one that you can find the answer to in this expert outsourcing guide.
In total, here are eight business functions you can outsource in 2023 and beyond.
1. Accounting
It’s no secret that business accounting can be hard work.
Typically, this will include bookkeeping, filing tax returns, and putting together financial reports.
As a business owner, you likely won’t have time to do any of this. Or, you simply won’t want to do it — which is why you should outsource your business accounting to Accountant Penrith. From taxation compliance to payroll services, they’ve got you covered.
37% of small businesses now outsource their accounting (Exploding Topics). This is something that you can do, too. Best of all, it doesn’t involve breaking the bank, as many accounting services these days are very easy to afford, even for small and medium-sized organizations working with a budget.
2. Social Media Management
Does your business currently have social media pages that are sitting there and not doing much? For example, you might have Facebook and Twitter pages that you haven’t posted to in months. If so, you should join the millions of other businesses that are now outsourcing their social media management to a PPC Agency. By partnering with experts in managing and optimizing social media presence, you can revitalize your online presence and effectively engage with your target audience, driving better results for your business.
The way this works is simple: you give the keys to your social media pages to an expert social media marketing agency, and they do all of the work for you. Typically, this will include creating content and posting it to your feeds as well as providing relevant updates to followers, such as when you have sales events coming up.
Simply leave the agency to do the work in the background and experience greater social media engagement levels — easy!
3. Content Creation
In the new era of consumerism, content creation is key.
When customers visit your business website, they want to see interesting content, from videos to blog posts.
Luckily, this is another business function that you can outsource without breaking the bank. Essentially, you pay a reasonable fee, and the content creators do their jobs.
Again, this is an excellent way to boost your online presence and can drastically help to drive website traffic. It’s a no-brainer.
4. Recruitment
Every business is different when it comes to recruitment.
For example, if you’re a fast-growing business, you might be looking at hiring 20-30 new employees (or potentially more) this year.
Naturally, though, recruitment can be tough. You need to go through countless applications, interviews, and research before you finally land on the right candidates.
Most big businesses know this, which is why they outsource recruitment to third parties, such as recruitment agencies. Essentially, this involves telling the agencies about the type of candidates you’re looking for and then letting the agencies go and find them for you.
Outsourcing is especially effective if you have specific recruitment targets and need to hire employees quicker and more efficiently. After all, it’s frustrating for companies when you need to fill a position, but you simply can’t find the right candidate in time.
5. Invoicing
Got lots of clients but are overwhelmed by the invoicing process? The solution is simple: outsource your invoicing.
By outsourcing invoicing, you can ensure that your invoices get paid correctly and on time. Finally, you’ll be able to wave bye-bye to delayed payments and other similar problems that can come as a result of improper invoice management!
If you don’t want to outsource your invoicing, the next best thing you can do is use invoicing software. This way, you can still save time and money while maintaining control over your own invoices.
6. Lead Generation
Lead generation companies continue to grow in popularity each year that goes by.
This makes perfect sense, as today’s industries are more competitive than ever. In order to be successful, businesses need to generate sales leads — otherwise, they’re stuck. Hence, countless businesses are now outsourcing sales leads generation to professional companies who specialize in doing this.
More leads usually mean more sales, which is why you might want to consider doing this, too. It’s usually something that small and medium-sized businesses who are looking to grow their client numbers do, as finding leads is the trickiest part of a growing a business.
7. Cybersecurity
By outsourcing your cybersecurity, you can ensure that your business remains protected in the online world. From your website to important customer data, there are many different online factors that you need to keep safe from potential cybercriminals, which is why the cost of outsourcing your cybersecurity is always worth it.
If you do decide to do this, though, make sure that you outsource to a cybersecurity company that provides 24/7 coverage and monitoring of your servers.
8. Cleaning
Although remote work has skyrocketed in popularity, the main bulk of businesses remain in the office.
Naturally, offices can get easily cluttered and messy — especially when you employ a lot of people. But rather than asking employees to clean up their desks and other parts of the office, it’s a good idea to outsource cleaning to a cleaning company with professional cleaners.
Normally, this will involve a cleaner (or multiple cleaners) coming in to clean your office on set days of the month. This is great for employees, as it ensures their workspace remains clean, comfortable, and well-organized.