back office process outsourcing

Benefits of Back-Office Process Outsourcing Back-office process continues to weigh on the workloads of Business teams in both large and small companies. There isn’t much that is more taxing than wanting to work on productive business activities while being forced to waste time on back-office process activities. This frustration is simply the beginning; the real price is afforded by the bottom line. Fortune 500 companies are known to waste an estimated $480B because of less than back-office processes.

What would the benefits of back-office outsourcing entail? The decision to outsource back-office processes to a reputed Business Process Outsourcing (BPO) provider like IO Digital has been the long-running solution to this hassle for larger companies. Presently, small to mid-sized companies can make the most of outsourcing back-office processes as well. To begin with, a team of 1-2 for accounts payable, for instance, can make a massive difference in the time and resources spent in accounting. However much the specific back-office processes of any company vary according to size and industry, there are various general benefits of outsourcing back-office needs that are common to nearly every sizable company. These include important administrative processes like accounting, data collection, data entry, order processing, market research, and more.

Some of the top Benefits Of Back Office Process Support Services offered by a BPO partner like IO Digital are: 1. 24/7 Work: Many companies overlook back-office inefficiencies because of the simple reason that initially, administrative workload does not prove to be a lot to manage. However, as they grow, companies tend to become overwhelmed by back office processes and soon it becomes one of the greatest challenges faced by them. Sales & Marketing are usually the avenues giving business runners sleepless nights but often, they are allowing the wrong kind of tasks to eat up on their time space - leaving the more important strategic work unattended. Outsourcing back-office processes causes a drastic relief from your company’s workload and leads to a rise in productivity and efficiency, pushing it to the next level. Further, businesses are able to better allocate their resources thus leading to higher sales and profit.

2.Scalability: IO helps clients design new solutions for digital consumers, digital channels & digital markets. Being a trustworthy back-office outsourcing partner, IO Digital boosts your company scale in terms of profit, productivity, size, etc. The company’s growth and development is a direct result of the output of the chosen back-office process outsourcing agency. IO Digital also takes charge of the hiring & training processes, hence providing better support to the business.

3. Data Quality & Assurance: As your trusted BPO partner, IO Digital will up the quality of data collection, data storage and data management – which is an enormous benefit of back-office outsourcing. IO Digital streamlines all data related operations in their natal as well as final stages so as to make all back-office processes and operations hassle-free for you and your business.

Productive Services: Another major perk of back-office outsourcing is that companies gain access to skilled professionals, the very latest in technological resources, quality productive services, and more. Outsourcing companies not only provide back-office support but also emphasize providing support functions using the latest technologies and offer training to their professionals so that they can deliver the output on time.

Data Security: Another advantage to outsourcing back office processes is simple data security. The most important task under this is to choose a service providing partner that focuses on preventing any type of data leakages and keeps a check on security measures. IO Digital uses the highest security measures to ensure your sensitive business data is kept safe.

Cutting Costs: One of the top reasons to outsource back-office processes is simply bettering your bottom line. Improving the infrastructure to manage the back-office processes is both expensive and time-consuming. The cost of maintaining this infrastructure after you develop it can also be very high. When you factor in labor costs, employee turnover, and investment in the newest technology and training, you end up with a large and ever-growing number that can dwarf many of your other business costs.

1. Data Entry: A tedious yet important process for any business, data entry is considered unwise to manage in-house because outsourcing the process along with all other back-office processes is the more efficient and reliable option. We at IO Digital carry a team of professionals with a strong infrastructure who take proper security measures and follow sound protocol – for you and your business. Companies can instead focus their work-force towards core business activities which directly impact their daily operations and customer service functions.

Data Mining: Outsourcing the job of data mining puts the responsibility in the hands of experts like our team of professionals at IO Digital. They have the capacity of rendering added value to organizational operations from a diverse range of industries. It includes translingual data entry – which is crucial and requires the expertise of multi-lingual data entry experts who can process data mining & migration as well as online and offline data entry functions.

Data Enrichment: The real trouble starts when the collective data is derived from multiple sources as double or incorrect entries can cause real damage to the data quality. Data enrichment ensures accuracy and consistency so that you can count on the data and make the correct decisions for your business. Data Enrichment and management is therefore an important service offered by trusted back-office process outsourcing bodies like IO Digital.

Document Indexing: The conversion of data from different sources and in various formats such as images, forms, receipts and paper documents into electronic format is known as document imaging or indexing. It allows businesses to store a large amount of data into digital format. A specialization achieves large-scale productivity gains that a good outsourcing back-office service provider such as IO DIgital can share with you.

Bulk Document Scanning: IO Digital adopts the best, most recent technology to make sure all of your data, in all the different formats, is scanned into a common format that is accessible and retrievable to all.

Invoice Processing: Another one of the many tedious back-office processes that can be outsourced to a partner like IO Digital is invoice processing that includes keeping track of due, partial and paid invoices along with digitizing through the conversion of paper invoices into electronic format.

Document Scanning: We at IO Digital use OCR and ICR technologies to handle all your document types, including hard copies of books, images, and more. This is another one of the many contributing factors from our end towards your back-office process needs.

OCR Services: We at IO Digital, as your back-office process outsourcing partners can look after all of your data conversion and OCR scanning needs. Our techniques and talent can deliver accurate results quickly. When you join hands with IO Digital and decide to invest your scarce monetary resources, you can be certain about having nothing less than the best from our end. We are never finished until you are wholly satisfied with the quality of the final result. Your search for the perfect partner to take on your back-office processes can find fulfillment with us at IO Digital. To learn more about our services, feel free to contact us anytime and find out how we can help your business in reaching new heights of success.