Business Functions

Jump To

Companies often obtain products or services from reliable outside providers rather than dealing with them in-house, which is called outsourcing.

Most businesses outsource their operations as it allows them to get more work done when tasks are left to be handled by professionals.

This gives businesses time to focus on doing what they are good at, increases efficiency, and helps maintain costs.

There are many different business functions where companies can use the idea of outsourcing to improve the performance of their businesses.

Below are some of the most important areas where companies can consider outsourcing.

Business Functions that Should be Outsourced

Outsourcing different business functions allow you to get more work done by handing over essential tasks to professionals instead of spending all the time trying to build your team to handle tasks they are not skilled at.

Accounting and Bookkeeping

The most common area where all kinds of businesses would choose to outsource is Accounting and Bookkeeping.

If you are not an expert in this area, you might need considerable time to learn and perfect the skill. This might cost you time, money, and also effort.

Outsourcing to a skilled accountant who can manage your company’s accounting and bookkeeping will improve efficiency and save you time and money.

Payroll

Payroll processing can be a time-consuming job. It also consumes a lot of energy to keep track of workers’ payrolls, applicable tax returns, exits, and everything else. Not to mention, it also requires a lot of attention, as care needs to be given to every little detail.

The larger the team, the more challenging the task gets. As such, payroll processing can be outsourced to make things simpler.

This can be done by hiring a service provider to handle everything related to employees’ salaries. This idea of outsourcing payroll management will save you enough time to focus on improving your workflow and the company’s efficiency.

Tax Filing and Preparation

The task of tax filing and preparation can be a burden for many people, as making mistakes in this area can be a disaster. Try outsourcing tax filing and preparation to make things easier.

Many professional tax consultants will be able to handle this task for you. By doing so, you will benefit from saving a lot of time, and also, tax consultants can guide you in cutting down on the payment of excessive taxes.

Corporate Secretary

A corporate secretary can be considered one of the key roles in any organisation. It is a role that holds an entire corporation together.

The corporate secretary is responsible for executing the decisions and changes that are put forth by the board of directors of a corporation.

As this is one of the most important roles of a company, outsourcing the work of a corporate secretary offers a more cost-effective and practical solution. This will free up time to focus on other day-to-day business activities.

Hiring a professional corporate secretary is essential for your business to thrive. The service providers for this usually offer a variety of flexible services to support companies to function efficiently in all aspects of corporate governance.

Employing one in-house can be too costly as the work of a corporate secretary is often only seasonal.

IT Management

IT management is a very challenging part of a business, as it is hard to find the right specialists and developers. However, you can outsource to an IT firm to handle the related tasks instead of worrying about hiring a developer.

You will find yourself more relaxed once you hand over software development and management of IT systems, hardware, and infrastructure support to a skilled team that will handle all these areas for your business.

This allows you and your team to focus on the other aspects of your business.

Another benefit of IT outsourcing is global access to related talent, giving you the freedom to choose the best from a wide range of talents according to your preference.

The advanced infrastructure and processes used by IT outsourcing companies will help make things easier for your business as you don’t have to invest in anything else.

Marketing

It’s not easy to grow your business instantly, but marketing firms can help make it possible. Professionals in marketing firms help grow a business quickly with strategies and creative ideas.

They handle social media posts, content creation, and advertising design. Outsourcing to professionals to handle the marketing of your business can lift so much from your shoulders and let you focus on other matters regarding the business.

Customer Service

When it comes to customer service, most businesses fail to maintain proper standards as not everyone is skilled at this. However, customers are the most important part of any business, and they must be handled smoothly and given accurate information for their queries. If you cannot satisfy your customers, it is questionable if your business can thrive in a competitive market.

For this reason, you can outsource the customer service process to a team that specialises in handling customers over the phone or online. Many customer service agencies are providing such services.

This professional method of handling customers will help you acquire a more extensive customer base.

Conclusion

As a business owner, you are most likely wearing many hats as your company’s chief. But unfortunately, what started as a dream is now slowly starting to drain you mentally as you try to juggle the duties of running a business.

You may also spend more time working or stressing about work and less time with family and friends.

Outsourcing these common business functions can benefit you and your business in many ways. This is exactly why we have put this guide together to help you run your business smoothly and help you save more time which you can spend on more business-critical tasks or with your family and friends instead.

But hiring the right agency to manage these business functions is the key. Do thorough research before engaging a service provider to ensure they are not only good at their job but also reliable. You can also look for a service provider that provides multiple services so that you have one point of contact to manage all the tasks and your queries. For example, you can outsource services like corporate secretary, accounting, taxation and payroll management to one trustworthy corporate service provider like HeySara.

Share this post:
Share on facebook
Share on twitter
Share on linkedin
Share on whatsapp
Company Secretary In Singapore
Compliance & Secretarial Matters

How To Change Your Company Secretary In Singapore

Once incorporated, companies must appoint a company secretary in Singapore within six months if they don’t want to violate the Accounting and Corporate Regulatory Agency’s