Gone are the days when you can afford to have all the necessary expertise to run your business in-house.  Particularly if you are a small or medium enterprise.

Outsourcing is a way of getting the exact expertise you need, when you need it.  It may be a regular task such as a virtual assistant for your administration or a freelance writer to do all the content you need for marketing, social media or anything else to get your message to market.

Technology is a major area ideal to be outsourced.  There are so many specialist areas involved in IT today and no one person is equipped to manage all of them.  You could just outsource the maintenance of your IT to a contractor or you could put all your computing in the cloud.  If you have sales staff or any staff who are mainly on the road, cloud computing is the way to do it, as staff not in the office can benefit from all the office tools while on the road.

cashflow-article-35Even your phone system can be in the cloud with VoIP (Voice over Internet Protocol) and a hosted PBX, much cheaper and more functionality is available to improve your business services.

Most small to medium business won’t have a lawyer or accountant on staff and these roles have been filled by engaging this expertise when it is required.

You can do the same for human resources, there are many HR professionals today who will freelance and look after your recruitment needs and HR issues as they occur.

It will, of course, depend on the type of business you run, as to the types of roles which can performed by an external consultant or contractor.  If you are a mechanic then it does make sense to have this skill in-house, vehicle owners have more confidence in the outcome if they know their mechanic and the mechanic knows the car.

Outsourcing also means cost savings, as you are not usually responsible for the payroll tax, payment of compulsory superannuation, holiday pay or sick leave.  And no responsibility for the paperwork or administration.

It is advisable to build a long term relationship with your outsourced providers and have a formal agreement in place for their services.  This goes a long way to ensuring longevity, continuity and a familiarity with each other’s working style, just as it would if they were an employee.

Having the right expertise to look after the facets of the business you don’t like, or really don’t have the skills to do, frees you up to concentrate on the areas you know and like, making you much more productive.

Debtors is an area most business owners would like to hand over, who likes making the call to discuss an overdue invoice?  Factoring is the solution and it also ensures a regular cash flow enabling you to concentrate on the development and growth of your business.

Take the time to assess where you need assistance and then go and get the expert to do it for you.