5 Tasks All SMEs Should Outsource

Even the greatest business owners can’t manage everything on their own. Although it can be hard to relinquish control over an operation you’ve nursed and nurtured, at some point, for your business to reach its potential, you need to outsource some of your tasks. The benefits when you outsource parts of your enterprise are well documented – you reduce operating costs, you can focus on vital projects, you access a wider talent pool of expertise and productivity can soar. There are many tasks your business can outsource – here are 5 that will free up your time while helping your company grow.

Human Resources

HR tasks can be very time-consuming, and as your team grows, the situation only gets worse. There is a long list of boxes that need to be ticked: managing employees, training, recruiting, benefit plans, leave and sickness to name but a few. It can be very easy for HR to be mismanaged. For example, incorrectly terminating employment, neglecting health and safety and employee welfare, and hiring the wrong staff. Getting things wrong can lead to legal consequences and stress while costing you time and money. Outsourcing to a HR company can avoid these problems and give you peace of mind. They’ll be up to date with all the processes, rules, and regulations with regard to hiring and firing. Timekeeping, recruitment, insurance, benefits, and management of leave can be easily handled by a third-party company too.

Payroll

If you have a small team, payroll may not be an issue for you. However, much like human resources, as you get bigger, handling monthly payroll will become more and more time-consuming. And it’s not just a case of calculating employee hours and paying them correctly and on time. You need to keep right on top of tax laws and regulations – and the smallest mistake with payroll can trigger audits. These can end up costing your business thousands. A smart policy for SMEs is to outsource payroll to an expert service. They will ensure costly mistakes are avoided and allow you to concentrate on growing your business.

Software Development

Every enterprise relies on technology these days – without it, it is virtually impossible to conduct day-to-day business. In the digital world, access to the best software is paramount to make your business run efficiently and smoothly. With technology developing so quickly, you’ll likely need to add new software on a regular basis too. Unless you are willing to pay for an in-house IT specialist or are happy to spend valuable time and money handling it personally, you should look at outsourcing your software development. Third-party suppliers will provide bespoke solutions to match your needs, from developing custom software for your company to slick commercial software for your customers. After projects are completed, it is easy to arrange maintenance and get immediate tech upgrades. The software development outsourcing world is a highly competitive landscape, so there are lots of excellent deals out there. And you’re not limited to your own country either. You can outsource to companies across the globe, accessing the very best professionals at brilliant prices. It’s no surprise that offshore development options have become so popular.

Marketing

All businesses need to market their brand, products and services, or they’ll likely fail. To make sure you are hitting your target audience and stay one step ahead of your competitor set, you’ll need a professional website and be able to understand, buy and implement many different forms of marketing. You’ll need to use social media effectively, produce great and regular content marketing, get SEO covered so your website is seen on the likes of Google and so much more. It’s essential you outsource these tasks to a marketing agency. They’ll be able to optimize your site, sort your social media and buy the most effective ad campaigns. They will professionally analyze what works, and what doesn’t. They’ll save you time, minimize waste and put an end to your frustration.

Accounting & Bookkeeping

No matter what size the operation, all businesses need to keep accurate records of all financial transactions. You need to know what you’re spending, what you’re spending it on, and where your income is coming from. Handling finances is often not the most attractive of tasks, but it is one area of your business you have to get right. It is not the job for the amateur – if you don’t know exactly what needs to be done, it is likely your books are peppered with errors. And again, the smallest of errors can have huge consequences. In the digital age, accounting and bookkeeping is one of the simplest business tasks to outsource. There is a huge choice of suppliers who can record all your vital monetary data and handle tax documents and provide profit and loss statements. Mistakes that could threaten your income are eliminated.

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