Outsourcing continues to grow as a viable productivity model for small businesses. Large corporations have known the benefits of outsourcing for some time now. Outsourcing is cost-effective and when you have product development projects, the right talent is at your fingertips.
As a small or medium-sized business, there are many areas prime for outsourcing that allow you to keep valuable resources in-house. Entrepreneurs also see huge benefits when they outsource time-consuming tasks.
Are you looking to outsource roles within your company? Keep reading for five outsourcing examples you can benefit from starting today.
- Social Media Marketing
It’s nearly impossible to run a successful business today without a social media presence. Social media marketing connects you to potential customers.
Outsourcing to a marketing agency includes creating and running your social media, content creation, and ad campaigns.
- Outsourcing Examples for Information Technology
IT outsourcing is one of the more popular outsourcing examples you’ll find under lease administration services. IT can absorb a big portion of your overall operating budget because it encompasses a variety of tasks.
Your businesses may need help desk technicians, software developers, and someone to oversee data security. By outsourcing, you pay one flat fee for everything you need under the IT umbrella.
- Human Resources
HR outsourcing is another cost-effective measure. It includes hiring, payroll, and training. A Professional Employer Organization (PEO) will save a business owner on benefits, and insurance costs.
PEOs handle everything on their end leaving you time to build and improve your business. Imagine, never having to deal with the stress of hiring, firing, or training employees.
Accounting is crucial to your business and can have legal implications with the Internal Revenue Service if there are mistakes. Hiring accounting staff to cover both accounts payable and receivable means hiring at a minimum, two employees.
At tax time and when quarterly reporting is due, more money goes to a Certified Public Accountant (CPA).
The benefits of outsourcing your accounting are having professionals with business accounting experience at your fingertips. When negotiating your contract, make sure you include safeguards in the event you’re audited by the IRS.
- Project Management
Project management falls under business process outsourcing. This is a field of outsourcing technology firms will want to look into. It is also great for businesses that work on development projects.
The benefits of project management outsourcing are the level of experience bring in. Companies that do not have development projects year-round do not want to employ fulltime development teams. The money you would spend on top talent, in terms of salaries and benefits, would not be justifiable.
Instead, you get top-tier talent specializing in what your projects require. Also, you only contract for the number of people you need.
It’s Time to Look Into Outsourcing
These are only a few outsourcing examples for your business. Weigh the pros and cons of each and how they will impact your bottom line.
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