Back-office work continues to be a burden for large American companies. Nothing is more annoying than wanting to focus on activities that bring value but having to spend time on administrative tasks.
However, frustration is only the start. The bottom line is where the true expense lies. According to a report, from the past few years, Fortune 500 companies cause approx $480 billion in annual inefficiencies, most of which were caused by back-office bottlenecks.
Businesses of all sizes require back-office support to remain organized and successful. In 2023, back-office support will be even more vital in helping businesses to stay competitive and efficient.
Why Must Companies Outsource their Back-Office Work?
Companies outsource their back-office work for various reasons, including cost savings, improved efficiency, increased scalability, access to specialized expertise, and leveraging technology.
Back-office outsourcing provides essential administrative tasks such as data entry, accounts payable and receivable, bookkeeping, and payroll.
Outsourcing can help companies focus on core competencies and remain competitive. With back-office services, businesses can benefit from a more cost-effective structure and streamlined processes, saving money and freeing up resources that can be allocated to other areas of their operations.
Additionally, businesses can access specialized knowledge and advanced technology, improving accuracy and faster turnaround times. Ultimately, companies that outsource their back-office tasks can reduce risk while improving their overall performance.
Which Industries can gain from Outsourcing Back-Office Work?
The following industries can gain from back-office outsourcing in the following way:
1. Finance and Accounting
By outsourcing back-office work, organizations in the finance and accounting industries can access highly trained personnel and free up more time for staff to focus on mission-critical tasks and capitalize on high-value opportunities.
They can outsource accounts payable and receivable services, bookkeeping services, invoice processing services, and financial services to ARDEM to focus on their core operations.
2. Retail
By back-office outsourcing, retailers can benefit from improved operations and cost savings. By allowing specialists to handle tedious yet important tasks, retailers can better focus on their main goal of providing excellent customer service.
Retailers can outsource sales order processing, sweepstakes and rebate data entry, and loyalty program data entry to ARDEM to focus on providing quality products.
3. Manufacturing
By outsourcing back-office tasks, manufacturing companies can free up time and resources that can be better utilized in other areas, such as product creation and innovation.
Additionally, outsourcing back-office tasks can help manufacturers save money on labor costs, avoid investing in expensive software or technology, and gain access to experienced professionals.
Collaborate with ARDEM for complete turn-key solutions for manufacturing outsourcing from bill of material statements to large format conversion.
4. Logistics
Logistics industries typically have various back-office functions, such as accounting, billing, inventory management, customer service, warehouse operations, and equipment maintenance.
Back-office outsourcing lets companies save money, reduce operational costs, and free up time to focus on core business activities.
With ARDEM’s logistics outsourcing services, companies can benefit from freight billing, logistics data entry, and bill of lading to increase efficiency and accuracy.
5. Insurance
The back-office work of the insurance industry may include data entry, document management, customer service, and IT support. They may also be responsible for handling claims processing, dealing with regulatory compliance, and ensuring compliance with policies and procedures.
By back-office outsourcing, insurance companies can focus on customer-facing activities while achieving greater efficiency and cost savings. Additionally, when partnering with an experienced service provider like ARDEM, the insurance company can benefit from access to the technology they may not have access to otherwise.
Conclusion
As we enter the new decade of 2023, back-office support is becoming increasingly important for large companies by helping to streamline processes and maintain efficiency.
From reducing manual labor with automation to responding quickly to customer needs, back-office support helps create competitive advantages for businesses and makes them more profitable. As technology evolves, back-office services will become even more vital for companies to stay competitive in the global market.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information please reach out to us at pricing@ardem.com or call us at 908-359-2600.
