We are facing the highest levels of inflation felt in decades, and we are likely headed for a recession. The combination of policy-field demands, coupled with supply shortages, supply-side disruptions, and the war in Ukraine are all contributing factors.
Outsourcing is one way to mitigate some of the adverse effects of inflation by reducing the need for additional staff and offering a flat rate for services. Furthermore, automating manual processes wherever possible can free your team’s time to focus on more valuable core business initiatives.
How Outsourcing Helps
Outsourcing administrative tasks can help your business if you’re looking to expand during an inflationary cycle. It frees your key personnel to focus on core business initiatives while leaving the administration to a specialist.
Every business no matter their size, must deal with payroll. Outsourcing these duties not only allows HR staff to engage in other tasks with more long-term benefits to the company, it helps to ensure greater accuracy, security and compliance.
Streamlining business processes using web-based technology and implementing an outsourcing strategy will save time, help you better manage costs and allows you to reduce (or increase) your team’s size if necessary. This is especially valuable during uncertain economic times.
Automating Manual Workflows
Leveraging technology and automating manual processes wherever possible, will free your team’s time to focus on more valuable business initiatives. Workflow automation can help expedite and streamline document-based processes to improve efficiency, reduce costs, identify bottlenecks, and increase response times. When it’s easier to pinpoint issues and implement solutions, your organization can increase efficiency, improve productivity, and reduce costs.
For example, in the past you may have needed a large staff to manually process Accounts Payable. Today, technology can do it for you faster and more accurately. Sixty-two percent of invoice processing time consists of data entry, GL coding, validation, and approval. AP automation can reduce lag time by up to 90%. This means your team can do more in less time, reducing costs and eliminating human error.
hubTGI is a Canadian-owned Managed Services provider that offers Print Services, Workflow Solutions, Managed IT, Cybersecurity Solutions, Cloud Services and VoIP to help their customers control costs, secure their data and make their people more productive.
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