There are more challenges to face in today’s uncertain market. Businesses operating in different market segments are facing similarly new challenges that affect their day-to-day operations. If you are struggling with new obstacles, more competitors, and sensitive target markets, you are not alone.
Remaining lean and efficient is how you maintain a competitive advantage against the rest of the market. One of the ways to stay lean is to keep the organization small and outsource certain tasks to capable service providers.
If you are thinking about taking this approach, there are a few preparations to be made. You still need in-house PICs (person in charge) to liaise with agencies and service providers. More importantly, you have to choose the right departments to outsource for maximum effectiveness.
Legal
Companies such as INS global have a Human Resources software to process payroll. Here is why big companies partner with companies who can offer Employer of Record services, to streamline all the processes around payroll, recruitment globally in one platform while you are being compliant with the law.
There is no shortage of service providers to choose from too. Clinelawyers.com, a leading name in business law, is one of the best to engage. The law firm also offers services in other areas of the law, giving you added flexibility.
The in-house PIC will be responsible for the day-to-day tasks related to legal matters, including reviewing contracts and reviewing compliance. The law firm, on the other hand, can help with bigger as well as repetitive tasks to keep your business running smoothly.
Marketing
Having an in-house marketing department gives you the most agility, but that doesn’t mean you have to do everything related to marketing yourself. In fact, hiring agencies to handle certain portions of your marketing efforts is usually the better way to go.
For example, you can craft a marketing strategy and then have multiple agencies focus on different parts of the campaign such as social media marketing, influencer marketing, email marketing, and more. This way, you can focus your resources on the bigger picture.
There are service providers that offer more mundane services too, including content creation, article writing, and even marketing data analysis. By outsourcing these tasks, you are saving a lot of time and energy – and money too.
Accounting
It is difficult to imagine handing control over your finances to a third-party service provider, and you shouldn’t in most cases, but that doesn’t mean you cannot hire professional accountants and financial advisors to help keep your business finances in order.
Working with accountants is the best way to make sure that your books are in order. There are more accounting services designed to be flexible and based on technology, allowing you to integrate these accounting services as if you are integrating business solutions.
Similar to the previous two departments, the best approach to outsourcing your business accounting is by having a PIC and choosing a service provider that you can really count on. Fortunately, there is no shortage of options in this field too.
Now that you know the three departments that you can safely outsource, you can begin reviewing yours and decide which tasks to offload to service providers. As you offload more tasks, you free up more resources to redirect towards growing your business and making it more competitive in the market.
