Back in 2019, the Small Business Finance and HR Report found that businesses payroll and HR duties took up nearly 40 hours of bandwidth for businesses each month. Fast-forward two years, and businesses are still facing the problem of too many tasks and too little time. However, there are new ways to save time in the back office that you can begin implementing today.
This article will discuss three ways you can save your business time in the back office. Each one works together to compound your time-saving efforts and mold your organization into an efficiency powerhouse in no time flat:
1. Go Paperless
Already thousands — millions! — of businesses are realizing how much time and money they can save by ditching paper for digital alternatives. Mountains of paperwork come with a hefty price tag in paper and toner alone. Worse still, a lot of time is wasted flipping through folders and filing cabinets looking for documents.
To go paperless, all you need is the right software. For example, a document signing app such as PandaDoc or DocuSign makes it sign and store contracts and agreements digitally. While you’re at it, look at cloud storage options to back up all your files on a secure network. Searching the cloud will be 10 times faster than flipping through endless stacks of paper.
2. Automate Workflows
Automation isn’t just the future of the back office, it’s the present. If you’re not automating tasks like invoicing and payroll, you’re already behind the competition. With automation, you’re getting back-office tasks done without any extra labor being expended. Needless to say, you’ll be saving a lot of time when your tasks can complete themselves.
Integration platform as a service, or IPaaS for short, is one of the most powerful forms of automation available. The average company uses over 100 different software applications, each with varying functions. With so many applications, data becomes siloed and workflows back up. With an IPaaS, you can create automated workflows that seamlessly tie your different software solutions together.
IPaaS excels in the movement and transformation of data. For example, you can integrate your sales software and project management software so that data in one becomes accessible in the other. Different integrations enable all of your departments to work and communicate together freely and effectively.
3. Outsource Basic Tasks
The back office has loads of necessary yet menial tasks that need to be completed regularly. Instead of forcing this work upon one of your in-house employees, free up their time through outsourcing. Many back-office jobs can be accomplished by remote workers from around the world. Just give them a deadline, and let them schedule their own work.
Some examples of tasks you can outsource include:
- Data entry
- Transaction and order processing
- Record maintenance
You might wonder whether outsourcing is a cost-effective option for your business. According to Deloitte’s 2020 Global Outsourcing Survey, the answer is yes. It showed that a whopping 70% of businesses looked to outsourcing as a way to cut costs, not just to save time. Outsourcing jobs can be handed out on short, inexpensive contracts that also cut down on operational costs like office space and equipment.
Saving time means saving money. What business can say no to that? Start organizing and automating your back office, and you’ll have plenty of extra time to reinvest in your business to help it thrive in 2021.