Technologies that are Driving Back Office Outsourcing

It is a proven fact that back office services outsourcing helps organizations in reducing operational and management costs. As a company like Matrix Marketers, you may not be realizing the need of maintaining back office operations as your front office which is key to global success.

Back office accounting outsourcing services can process payroll, service accounts payable and receivables, and even handle some HR duties. If you’re a startup looking to implement a back-office system or a going concern that is spending too much time in the back office, outsourcing to the company like Matrix Marketers is a great solution.

Trends impacting the global back office outsourcing market
Recently, Matrix Marketers has seen several trends impacting the global back office outsourcing market, which are:

Adoption of cloud technology
Cloud-based and digital solutions are now a common thing among businesses. It enables business owners to easily access tools remotely and store and retrieve data whenever they need to. This also means there’s no need to break bank in setting up an IT infrastructure complete with maintenance support and security, enabling decision makers to focus on other core processes while funneling work to back office service providers to help ease the backlog in other departments such as finance and accounting, Human Resources, and data management.

Big data analysis/analytics
Bigdata analysis provides business owners with answers and a microscopic view of how an event took place like say in a purchasing cycle. In a nutshell, it gives them a better understanding of a customer’s behavior. For instance, apart from keeping track of all the historical events of a single customer, and combined with other data from other consumers and or visitors, they are able to create better and tailored products. The rise in big data in every business is creating a need to outsource back office processes, not to simply get on a trend, but to streamline operations.

Increased implementation of mobile solutions
Mobile solutions have created a different type of demand from customer and clients. Apart from wanting to purchase something on the go, the majority of customers who are still at the researching part of the purchase funnel want to have information instantaneously. Creating and sorting information will need the more hands-on deck and to be able to cover this platform, business owners would need a helping hand from back office outsourcing. It is one of the processes that can be outsourced without disrupting the flow of work and is usually applied to supplement current procedures.

Some of the advantages of back office operation outsourcing are:

1. If you are a software development company like Matrix Marketers, then
You need to be billing, collections, and payroll which aren’t your area of expertise. Outsourcing allows you to hire a team of experts to take care of the details that will make you successful, while letting you focus on the core competencies that will drive that success, whether it’s hiring the right internal employees, meeting with potential clients or planning expansion.

2. If you are taking software projects or providing a team of developers to another company like Matrix Marketers
Back office services are constantly upgrading their software and in fact, spend a lot of time devoted to the latest accounting systems and techniques. With security an increasing concern, this is a big plus.

And there is another major aspect to efficiency. Both sets of your clients (your customers and your employees) will benefit. Billing and payroll will be smooth and efficient. This will help your bottom line and ensure the professionalism that you’re representing. Also, most reputable back office solutions ensure that all interaction is branded to your company, specifically.

3. Back office outsourcing is a great tool to give you a leg up when you’re expanding.
For example, you’ll be able to process your growing payroll, handle payroll, and billing and collections. And, if you’re expanding into another geographic area (which many growing firms aspire to do), you’ll have different tax rates and compliance issues to figure out. These outsourced experts can guide you and you can, again, offload these headaches.

Similarly, if you’re scaling down on your accounting, you can decide which services are right for you.

4. Financial Benefits.
Besides the obvious savings of not having internal accounting staff, there are many other financial motivations for back office outsourcing. As mentioned previously, you’re able to focus on your core business, sales and recruiting. You’re not investing in accounting software or the many upgrades that most people don’t have the time to even keep track of. You’re able to add flexibility and nimbleness to your growth plans. You’re keeping your ongoing money and outgoing money running efficiently. This, in turn, improves customer service and your cash flow situation.

Conclusion

Back office operations act as a solid foundation of any organization. At Matrix Marketers, we have created a list of software required for the efficient back operation system. If you are looking for any solution which can help your organization to run in a better way, you may contact Matrix Marketers!