Building a Better Back Office with Business Process Outsourcing
The article illustrates how business process outsourcing can help you build a better back office.
Businesses outsource primarily to increase efficiency (24%) and receive assistance from an expert (18%). (Clutch)
Aside from improving front-office or customer-facing operations such as customer service, outsourcing services and business processes lets you build a better back office.
Business Process Outsourcing offers a targeted focus on core back office functions.
When you delegate back-office services to a well-established business process outsourcing provider, qualified remote teams provide technical expertise at a quicker turnaround time, enabling excellent service, efficient operations and customer experience.
From Human Resource to Software development, here are ways Business Process Outsourcing can help you build a better back-office:
Accounting
Through a business process outsourcing partner, you can Hire, build, manage a dedicated remote accounting team or staff.
General Accounting functions can be outsourced to your remote team such as accounts payable management, Accounts Payable (A/P) Data Entry, reconciliation and preparation of budget reports and forecasts, invoice and billing management, payment posting and records monitoring.
Human Resources
In a survey conducted by Accenture of executives of more than 120 companies in North America and Europe with annual revenues of at least US$1 billion, the results found that outsourcing is now firmly embedded as part of HR service delivery. (Accenture)
The global market for Human Resource Outsourcing (HRO) estimated at US$32.8 Billion in the year 2020, is projected to reach a revised size of US$45.8 Billion by 2027, growing at a CAGR of 4.9% over the analysis period 2020-2027. (ResearchandMarkets)
Outsourcing Human Resource Functions lets businesses focus on core business process and on strategic organizational issues.
HR Outsourcing is a cost-effective solution to delegating these HR functions. Functions that can be outsourced are people management and maintaining a positive organizational culture, employee satisfaction and engagement, retention rate, providing new hire support, payroll processing or work policy updates.
Software/ Web Development and Testing
In software outsourcing, you gain access to working with business process outsourcing teams experienced in product development. Services that can be delegated are building and deploying a building a scalable, well-designed architecture with related tasks such as Program Configuration, System Design, Technical Setup and troubleshooting.
Quality Assurance and Reporting
Your outsourced team can implement approved internal Quality Assurance Methodologies, and develop methods for data collection, documentation, analysis, and reporting for the purpose of quality control and continued process improvement.
Claims Processing
Claims processing is also one back office function you can outsource. Your remote team can process claims according to plan documents while applying Company policies and procedures, and verify that the data entered from the claim form is accurate and complete to enable the claim to be processed correctly. Outsourcing claims processing can help improve claim payment accuracy by identifying pricing and/or submission inconsistencies to management.
Connext provides Quality Back-Office Business Process Outsourcing Solutions
Connext Global Solutions helps manage a client’s team as if it was theirs and makes sure the performance matches or exceeds that of your local teams.
Connext Global Solutions offers a large array of cost-effective remote staffing service. Their dedicated staff members work in multiple function areas for clients that help build a better back-office in roles such as: medical claims processing, QA and business analytics, real estate, full-spectrum accounting, customer engagement specialists, back-office staff, IT developers and support, graphic designers, social media, and more.
Build a better back office with Connext Global Solutions today.
