The Most Commonly Outsourced Jobs In Small Businesses Are Accounting and IT.

Small businesses usually turn to outsourcing when it comes to accounting and IT because those tasks require proficiency and skills that they might not possess internally. That is why small business outsourcing stats show that 37% of all accounting and IT tasks get outsourced. Digital marketing tasks follow at 34%, with development and human resources at 28%.

WHY NOT OUTSOURCE?

Outsourcing means getting other companies to do some of your work for you. There may be support areas within your company that can be managed elsewhere, freeing up resources within your company.

The trend now among the big business is outsourcing some services. To save money and/or time on projects, outsourcing has been the tool for big businesses. So what are some of the most commonly outsourced services?

Before I go into the list of the services, let me intimate you with outsourcing itself. Outsourcing involves delegating, authorizing and subcontracting parts of business services to other businesses, professionals, and experts that specialize in that field.

In short, outsourcing simply involves subcontracting out a part of the business’ project to a third party. You can outsource pretty much any service in this day and age. But the services you outsource and the ones you keep in-house should depend on your business needs per time.

So while considering this, you should weigh the pros of outsourcing that particular service. Justify your decision by answering these questions: Will it reduce cost? Will it increase profit? Will it save time? If the answers to these are yeses, then you are good to go.

Without further ado, let’s dive right into two commonly outsourced services.

ACCOUNTING JOBS

BOOKKEEPING

As an SME or big business, financial accounting and record-keeping are very important for you.

Not only does it let you know your current financial status, but it’s also the basis on which future projections and plans are to be made. You can’t underestimate the importance of planning.

You could have the options for employing a full-time accountant or a whole accounting team but it is usually more efficient to outsource.

Apart from the time it takes to prepare account records, it is also relatively cheaper to have another firm do your accounting for you. Most of the accounting firms have websites and allows you to check your records in real-time. This will save you money and the time of your employees.

TAX PREPARATION AND FILING

When talking about time-consuming tasks, tax preparation is one. Not because of the size but mostly because of the specific skills needed to get it right. But guess what, it need not be a great burden anymore.

It gets very easy when you outsource it to financial firms. The cost is standardized in most countries so you could effortlessly outsource Value Added Tax (VAT), Service Tax and TDS returns. As a bonus, online accounting software can help generate returns if you give them required access to your records.

PAYROLL

Preparing cheques and vouchers might not be a problem when you are still a small business but it can be an overwhelming task as you grow and the number of employee increase. Why? payroll preparation requires you to keep track of a lot of things for all your employees.

Outsourcing this service means you don’t have to know or keep track of your employees’ tax returns, loan advances, bonuses, joining and exit formalities, paid and unpaid leaves, etc.

These services would be handled by the firm you outsource to giving you time to work smart and not hard. This will also help you to focus on the management of the business.

Apart from saving you time and reducing stress, it also ensures your employees are happy because they get paid without delay.

You can also look at getting your payroll managed in a similar fashion. While payroll may not be a very time-consuming job on the whole for you, if your business is big, mopping up various financial problems can be stressful, and mistakes can be made.

Having a dedicated payroll support service will help you ensure that your staff are paid accurately and in a timely fashion. 

IT JOBS

One of the most popular areas that a business chooses to outsource is their IT support.

A forward-thinking IT support company can offer you advice and assistance in setting up and maintaining your network infrastructure. You will get a whole wealth of experience that would be very costly for you to bring into your company. 

CONCLUSION

Do you know that it is wise to get as much support as you can for your business? You shouldn’t try to do everything by yourself or with your few team members. This is because your day to day activities can get overwhelming and if care is not taken, you might lose focus on the core operations of your business.

In other words, you should get some services done for you. While you may be wondering what services you might need, these cost-effective services will help you run your business with ease.

Your thoughts might be – can my small business afford this? As there is a general belief that only big organizations need these support services, not small businesses. That is not true!

In my opinion, small businesses and start-ups need more of these services than the big organizations. Why? The former cannot conveniently afford the cost of hiring full-term employees for these services while the latter can.

Now that you know, it would be profitable for you to consider outsourcing some of your tasks.

I hope this helps you. ??

****

Book a call to let us know where you're at and what you want to accomplish.

https://bookme.name/shepherdaccountingsolutions