If you’ve not considered outsourcing your business financial support – it’s time to think again! As
well as real $$$ bottom line savings, outsourcing can offer a host of other benefits to reduce your
stress, free up time, and improve your business.
Here are my top 5:
1. Space and $ Savings. With outsourcing you can get rid of the desk and extra computer and
use the space for something else. You can also stop worrying about when you will need
upgrade equipment. Slash out those extra hidden employee costs of Annual Leave, Sick
Leave, KiwiSaver, Special Leaves, Staff Training, Recruitment costs…. With high quality
outsourcing you won’t need to worry about your support person going on leave – its for the
outsource business to ensure continuity of the service to you, the client.
2. Faster turnaround, better accountability. With quality out sourcing there will be accurate
time sheeting so you know exactly how long tasks are taking to get done, and what exactly
has been done. There is no down time and you only pay for 100% focus on your tasks.
Many outsourcers also work odd and flexible hours so it’s easy to have work done after
hours or overnight if that’s your preference. Also, outsourcers are generally specialists and
because they are focussed on specific jobs they can get really quick and efficient with a high
3. Separation of Duties. A huge benefit of outsourcing for small business is the ability to have
separation of duties. If one employee is responsible for all admin, it is challenging to have
checks and balances in place for both the employee’s and the employer’s protection. An
outsourcer can administer payroll with confidentiality and use their different set of
resources and skills to provide an expanded perspective of your financial management.
4. Improved Resilience and Sale Value. Outsourcing can push you to sort out your processes
and clearly define who is doing what, when, and how, as well as how effective
communication channels are maintained. Sorting this out can provide huge benefits in
clarifying roles, employees working more in areas they are good at, and ironing out kinks in
processes that have just been muddling along. A business with clear processes improves
resilience by being less vulnerable to any particular person leaving suddenly, as well as
increasing the value of the business to any future purchaser.
5. Professional Relationships. Outsourcing can be quite a different relationship from the
Employer / Employee relationship. You become the client and are treated like a client, with
the outsourcer working to do what you want. This can be hugely different from being “the
employer” where you are the person responsible for the wellbeing of your employee, and all
that may entail. For some businesses, this represented a big reduction in risk and stress.
If outsourcing support with financial systems sounds appealing for you, check in with Living Business
and we’ll have a chat. We just might be able to help – give us a shout. This is what we do.