Managing Your Finances: -Outsourcing

Keeping track of business finances can be a pain. For most, this becomes a problem due to the frequency that assets have to be transferred. Larger companies can afford a proper financial department and will not need to worry about this, but small to mid-sized businesses often will need outside help or in some cases, a dedicated financial professional, in order to properly manage their finances.

This is where outsourcing and full-service BPOs come into play. For a cheaper cost, you can hire financial professionals remotely. These remote staff bring benefits such as saved time, better organization, and control.

Full-Service BPOs

Business process outsourcing centers have helped connect businesses with professionals all over the world. The solutions they provide for businesses help to save time and money. However, it’s only recently that the barrier to entry has lowered. In the past, only companies of a certain size, namely the Fortune 500, have had access to outsourcing.

Outsourcing is the acquisition of goods and/or services from a third party. In the cases of these giant companies, it could be any form of outsourcing, including the manufacturing of physical goods, financial services, call centers, etc.

While there are specialized outsourcing service centers for industries such as marketing, finance, medical, etc, full-service BPOs cater to all of the above, all while keeping the same level of proficiency. The added benefit of partnering with a BPO is the different types of staff you can hire through them, should the need arise.

Simplified Steps To Partnering With A BPO

1. Initial Contact — Questions are exchanged from both your company and the BPOUse this time to ask any clarifying questions and voice your concerns the BPO will ask you what you’re hoping to achieve and create a proposal
2. Proposal Meeting — Based on information from the discovery call, you will be presented with a planGo back and forth to get the plan that works best for you and your company
3. Recruitment Started — Sourcing and interviewing of applicants based on your requirements
4. Shortlist Created — The most qualified candidates are presented to you if you like someone, select them and set a start date if you don’t like the candidates, a reset will happen
5. Staff Hired — Hiring Details finalizedStaff onboardedThe staff starts work/training READ MORE