Growing your small- to medium-sized business can be extremely exciting. Periods of industry growth mean taking on more customers, thus increasing your sales revenue and boosting overall profitability. However, as with all things in business, there is a trade-off.
Developing your company also involves taking on additional business management responsibilities. While you may relish the opportunity to serve your customers, improve products, and enhance your services, managing back office processes is likely one of your least favorite tasks.
We get it. Without the right resources in place, it can be difficult managing critical business activities like accounts payable and receivable, payroll, and HR. It can also be expensive if you lack efficiency.
Fortunately, you can outsource essential accounting and business process tasks to a team of experts. You can also take advantage of specific back office BPO services offered by our team at Finlyte. Learn why partnering with our award-winning company is an excellent idea.
What Are Back Office BPO Services?
Back office business process outsourcing (BPO) services are designed to take key management processes off the plate of your business team. You can outsource various back office tasks that fall into a few different categories:
- Human Resources
- Chief Financial Officer (CFO) responsibilities
Finlyte’s back office BPO services are designed to alleviate the burden of managing these various business processes. When providing services, we can handle even the most intricate tasks, including the following:
- A/R and A/P processing
- Maintaining business insurance
- Processing yearly 1099s
- Reconciliation of receipts against rhapsody
- Consolidated and location monthly financial reporting
- Benefits bills recording
- Workers’ comp audits
Finlyte can manage and optimize virtually any back office process that is essential to the success of your business.
How BPO Services Save You Money
Leveraging our back office BPO services can save your business a tremendous amount of costs and increase your organization’s overall efficiency. Specifically, with Finlyte, you can achieve these benefits.
1. Eliminate the Need to Expand Internal Staff
Taking on even a single additional staff member can cost your business tens of thousands of dollars yearly in wages, benefits, taxes, and insurance payments. Imagine if you brought in two to three additional employees to manage your growing back office processes. The added staff expenditures would erase a large percentage of profits enjoyed as part of your business’s growth.
When you work with Finlyte, you won’t need to expand your internal staff, as we can meet the needs of businesses of all sizes. As your organization continues to grow, we can allocate additional resources to your account to effectively manage your back office processes. In other words, our BPO services are scalable with your business.
2. Save Time on Recruiting and Hiring
Hiring and recruiting new team members is a costly, time-consuming, and at times, frustrating endeavor. Let’s face it. Finding qualified and skilled staff members to fill back office vacancies can be challenging.
By partnering with Finlyte, you can drastically reduce the costs associated with recruiting and hiring. Instead of tying up your in-house team for weeks searching for the ideal employee for your business, you can let Finlyte’s experts manage critical tasks for you.
3. Decrease Training Expenses
As the needs of your business grow, the demands placed on your internal team will undoubtedly increase. In many instances, you will need to help them adapt to these changing demands by investing in training and upskilling courses.
Though it is vital to invest in your team, some training expenses are, in fact, avoidable. For instance, you can eliminate the need to train your staff on complex HR, accounting, and payroll topics by using Finlyte’s BPO services.
Our team of experts has the skills, technology, and resources necessary to handle complex situations with confidence. We’ll also optimize processes so that your company can achieve greater efficiencies.
4. Optimize the Efficiency of Core Business Processes
Speaking of optimization, Finlyte will not simply maintain the status quo when assuming responsibility for your back office functions. Instead, we will use leading-edge technologies and proven strategies to increase organizational visibility and improve the efficiency of your accounting functions.
At Finlyte, we’re not just here to help you survive in your respective industry. We want to provide you with the back office support and resources needed to continue growing your business so that you can thrive.
It’s why we were recognized by Oracle NetSuite as a NetSuite Partner of the Year in the category of Breakthrough BPO Partner of the Year. We have invested in our services, and we are ready to leverage our capabilities to support the growth of your organization!
Ready to Optimize Your Back Office Activity? Contact Finlyte
Managing critical business activities and back office processes will become extremely challenging as your business grows. The traditional approach of expanding your internal staff, recruiting and hiring new employees, and upskilling existing team members is inefficient and expensive.
Fortunately, there is a better way. Finlyte already has a team of experts capable of managing your back office processes and optimizing them. We will handle behind-the-scenes, business-critical activities so that you can focus on the core functionality of your company.
Taking the first step toward reducing your workload, decreasing costs, and unlocking the true potential of your organization is as simple as scheduling a consultation with Finlyte. Talk to us today about our BPO services.