Startups and SMEs tend to juggle tasks to keep the business growing. To avoid this, the most ideal and practical solution is to outsource back-office functions so you can focus on core business activities.
One of the tasks worth outsourcing is payroll. It is a crucial and time-sensitive task that must be done correctly. It is also time-consuming and can take your focus away from higher level tasks such as improving customer service and increasing your bottom line if you choose to handle it or delegate it to your small in-house team.
If you're looking into outsourcing your payroll to a third-party provider, here are some things to consider to help you make a decision.
When you search for the right payroll outsourcing provider for your business, getting to know each of them will help you decide which one to choose. Read reviews, feedback, testimonials, and other information on the company available to know if they are reputable and competent, and have the right skill set you require.
Outsourcing your payroll operation will no doubt save you money. To know how much you can save by outsourcing payroll, identify the hours your team dedicates to payroll operation then calculate how much you are spending on those tasks. Compare the amount to the outsourced services offered by third-party providers. You will be surprised by how much more money you could have spent on core business activities instead.
One of the concerns when outsourcing business functions involving data management is if the outsourcing company can maintain the accuracy of data. Especially for employee payroll, errors and inaccuracies can put your business at risk. But what's good about outsourcing is that you will be delegating to specialized experts, ensuring dedication and accuracy.
When you delegate payroll tasks to your employees and things go wrong, you wouldn't be able to seek financial restitution – something you can get from outsourcing companies if they committed payroll errors. Furthermore, since you hired an offshore team dedicated solely to handling your payroll operation, things will get fixed quickly and efficiently. If you are unhappy with the service, it is also easier to switch to another provider than replace your employee. Make sure that these things are included in the agreement before signing a contract with your chosen payroll outsourcing provider.
If your business setup involves hiring seasonal employees and freelancers, you would need flexible solutions. Payroll outsourcing providers have the expertise, technologies, and resources to adjust to your varying needs. Look for a provider that offers flexible services.
Ultimately, it is ideal to have a checklist of the above considerations along with your other requirements and expectations and compare each payroll outsourcing provider to find the right one for you.
by: Sidney Liquigan
Wednesday, October 25, 2017 | Comments (0)
Category: Outsourcing Research / Trends
Achieving your business goals and increasing business efficiency is possible even with a small team of full-time in-house employees. The secret? Extra support from virtual assistants.
Here are some ways virtual assistants can help your business increase efficiency and productivity at more cost-effective rates.
Fill non-core responsibilities
Small businesses rely on virtual assistants to fill non-core responsibilities. Instead of having your in-house team multitask and handle responsibilities that they don't specialize in, it is much more practical to outsource the non-core responsibilities to virtual assistants who are experts in each area. This will help increase the in-house team's productivity and will help them focus on main business processes that will directly improve business value.
Work within your budget
With virtual assistants, you don't have to commit to paying a full-time employee and all that comes with it, such as benefits and overhead costs. Outsource some of your business tasks and pay for only the service you require; the outsourcing provider will handle the recruitment, HR management, facilities, and resources the virtual assistant will need.
Connect with customers
Two of the most crucial tasks that need to be attended to immediately are customer service and social media presence. These tasks are time-sensitive, especially for business-to-consumer (b2c) brands. When a customer sends feedback or an inquiry through your social media page or through email, you need to respond immediately. Hire a virtual assistant to take care of these while you focus on your core processes.
If you are new to acquiring the services of a virtual assistant, you can try beginning with simple tasks like data entry, managing your emails, and administrative support. As they prove to be efficient in those tasks, they can also grow as your business grows. They become ready to take more responsibilities. Furthermore, as your business grows, you may need to outsource higher-level responsibilities, which virtual assistants can also handle. These include marketing, SEO, and data management, to name a few.
Multitasking can lead to burnout, which can affect business efficiency. Dedicate your time to core business activities and cope up with your increasing workload and business needs with the help of virtual assistants. Contact MicroSourcing to find out the tasks that you can delegate to virtual assistants.
Survival among enterprises is becoming more and more challenging as markets become more saturated. Add to that the big competitors that already have established their position as leaders in their respective industries. For small- and medium-sized businesses to catch up, brand management should be the top priority, and IT plays a major role in achieving this business goal. While big companies have the budget and manpower to invest in their own complete IT infrastructure, outsourcing IT infrastructure serves as the ideal choice for SMEs.
Outsourcing IT infrastructure gives you access to a comprehensive set of the latest and best technologies and solutions at practical costs. One of the major reasons to outsource IT infrastructure could include saving costs, but this is just a bonus to many other benefits that outsourcing IT infrastructure offers.
Expertise and Flexibility
A responsive IT infrastructure is essential to any business setup in order to gain and maintain a competitive edge. When you outsource your IT infrastructure needs, outsourcing providers can give you flexible services that can adjust to the evolving industry environment as well as to technological developments. Outsourcing providers also have the pool of experts to handle different aspects of your IT infrastructure needs.
Outsourcing your IT infrastructure will not only give you the service and manpower you need, but you will also get to have the full package, including proactive monitoring and management, facilities management, and other support you may need to keep your offshore team in check. IT infrastructure outsourcing providers manage the operations, but you still retain full control without taking much of your time.
Unlike in-house IT infrastructure that has unscalable IT infrastructure usage, outsourcing providers give you the option to increase or reduce your IT infrastructure usage without the hassle and with solutions and costs adjustable to your needs. Increasing or reducing infrastructure capacity can be a headache especially terms of the technical aspects, and the flexibility and scalability of outsourced services are an advantage over in-house IT infrastructure.
Improved Focus and Efficiency
By outsourcing your IT infrastructure, you can have more time and money to spend on your core competencies to improve overall efficiency and generate business value.
More than offering affordable and effective solutions, outsourcing IT infrastructure gives your business strategic and functional benefits that match, and even exceed, the capabilities of in-house IT infrastructure.
by: Mary Christine Galang
Wednesday, October 18, 2017 | Comments (0)
Category: Outsourcing Research / Trends
Social media has become one of the fastest, most effective ways of creating engagement with potential and existing customers, as well as reinforce and strengthen brand awareness. Social media management, in its most basic sense, involves handling, maintaining, and updating social networks. It has become highly regarded as a type of digital marketing.
Depending on your needs and resources, this can be done by one dedicated person or team. This can also refer to the tools used to manage social media, which includes different kinds of platforms and varying content styles. The need for an efficient and strategic social media management is crucial as it involves incoming and outgoing communications or customer engagement, as well as some aspects of marketing.
By making the most out of your social media, you will be able to accomplish many things:
Choosing to outsource your social media management helps you to utilize social platforms in many ways to your benefit. This becomes increasingly urgent as your audience grows and your reach expands. Lack of or mismanagement of your social media can be detrimental. Below are reasons why you should begin to outsource these functions:
by: Mary Christine Galang
Monday, October 16, 2017 | Comments (0)
Category: Outsourcing Research / Trends
Bookkeeping is an essential accounting task that involves the recording of financial transactions, such as sales, payments, purchases, and receipts from individuals or companies that can be done manually and electronically. It requires time and attention, and over the years, has become practical to outsource to a third party, among many reasons.
Below are some of the benefits of outsourcing your bookkeeping:
Bookkeeping is just one of the wide range of offshore accounting services we offer in MicroSourcing. Whether you run a small business or head a multinational, we have customized options to suit your needs. Contact us today!
Business processes have evolved over time to accommodate the changing needs of consumers. These days, the internet is an incredibly significant space where many entrepreneurs conduct their business.
Entrepreneurs have moved from traditional delivery models to digital, which makes the competition fiercer and more challenging. To stand out among an almost never-ending list of potentials is the first important step to engaging your target market. Search engine optimization (SEO) plays a vital role in gaining that competitive edge.
SEO, by definition, affects the visibility of a website or web page in unpaid/organic results. If your business website/page ranks high on and appears frequently in the search results, it garners more visits or 'hits', and the more users visit your website, the higher the probability to convert them into customers.
This is why many businesses opt to hire SEO experts to optimize your site and strategically target the kinds of search you need to boost your online presence.
Below are some tips for you to get the most out of outsourcing your SEO tasks.
Contact us to learn more about how our SEO experts can enhance your online presence.
Wednesday, October 11, 2017 | Comments (0)
Category: Outsourcing Research / Trends
In the early 1990s, BPO telemarketing emerged as a leading solution to business sales and marketing needs. IT and technology companies realized how telemarketing could efficiently help them increase their profits and address customer needs.
But, the rise of digital channels in today's fast-paced and interconnected landscape has brought about the misconception that telemarketing is dead. Yes, social media, email, and paid ads are very powerful and efficient inbound marketing strategies to keep prospects and customers engaged with your brand. However, the fact remains that ROI for inbound marketing isn’t as quick as telemarketing's potential to build a large database of potential customers.
Telemarketing is a direct marketing approach that leverages human connection as its strategy. Consumers crave human interaction with brands, and telemarketing addresses this need. Your brand message is delivered to people by real people.
There are enough reasons to say that telemarketing isn't actually dead. Outbound customer calls or cold calls can provide your business the sales and marketing results that you need.
It costs you less than other marketing strategies.
Marketers have realized the benefits that inbound offers, and are increasing their allocated budgets on every strategy. However, inbound marketing strategies and paid ads are becoming costlier as its popularity increases.
But because of the low cost of labor in the Philippines, telemarketing is still cheaper. BPO providers in the Philippines offer cheaper telemarketing services that can help you boost your operations without breaking the bank.
It helps you expand your business operations.
Telemarketing is part of your business operations. By opening a telemarketing office in the Philippines through a third-party provider, you're expanding your reach. A separate team will now focus their work on finding new customers and following up with existing customers.
You have a secondary operations center that's generating profit for your company in addition to the revenue that your headquarters is making.
It allows you to focus on your core tasks.
Your headquarters and onshore employees can focus on the core tasks of your business, while your offshore provider handles telemarketing operations. Hand off your qualified leads to your telemarketers, and let them close the sale for you.
It speeds up sales.
Since telemarketing is direct, it only takes several minutes for a telemarketer to reach out to a qualified prospect and make the final sale.
Customers can directly ask questions about your products and services, making it easy to convince them that they actually need what you're offering. Telemarketing is instant, direct, and highly personal.
It brings your brand directly to your target market and prospects.
With inbound marketing strategies, you have to wait for the customer to come to you. It's the exact opposite for telemarketing, as you can target a specific market and immediately reach out to them by phone.
These days, people always keep their smartphones within arm's reach, so it's easy to reach the person you want your brand to interact with.
It allows you to get immediate feedback on a customer's level of interest.
In telemarketing, you can instantly gauge the level of interest of your customer through voice cues. Telemarketers can immediately adjust their communication style and tailor it according to the signals the customers are sending to keep them engaged. This real-time form of communication can help in guiding consumers further down the marketing funnel and close the sale.
Your telemarketers are talking to prospects and customers in real-time. It's easy for them to ask what customers think about your products or services. It's a great way to get immediate customer insights and use this information in tailoring the customer experience you offer.
It builds immediate brand awareness.
The moment a customer answers the telephone and your telemarketer introduces himself or herself, brand awareness is initiated. Your telemarketers represent your company and demonstrate company culture through their communication style. In telemarketing, customers can experience firsthand what your brand is all about.
Because they've already heard your brand name and brand message in a call, their brand experience will be enhanced in the next customer touchpoint. With telemarketing, you're providing your prospects and customers primary information about your brand.
It generates key customer and marketplace data.
Telemarketing is a great way to know your customers and prospects better. If you have a contact list that you need to update with new information, calling them is a great way to do so. This is especially useful for building your buyer persona. It’s also a great source for primary research.
When you understand your customer's pain points, challenges, and needs, you can better tailor the customer journey to provide a personalized experience. For instance, you can ask prospects and customers over the phone how often they use products and services related to your industry. This strategy may help you determine whether they are in contract with a competing brand. This information will give you an edge over your competitors and help you win customers over.
While it's true that telemarketing is an outbound strategy that's considered disruptive, it still works. It's especially effective when combined with inbound marketing and lead generation strategies.
Telemarketing is neither dead nor dying. Rather, it has evolved to accommodate the consumer demands that the digital era brought on.
Don't put your eggs in one basket. Inbound marketing can help you generate hundreds or even thousands of leads, and telemarketing can help you qualify those leads and ultimately close the sale.
At the end of the day, human interaction trumps gadgets and machines, and people will buy from people.