Future of work points to value of outsourcing

The past two years have revealed the possibilities of remote working.

Forced to adapt to a more flexible environment, we’ve discovered an improved quality of life that doesn’t come at the expense of work.

Technology has also played a big part, keeping us connected to colleagues and the information required to get the job done.

Remote working now has a proven track record. This has led to an exodus of people leaving their unwanted jobs, referred to as “the great resignation”. A major knock-on effect has been an upward tick in the trend towards outsourcing.

The cost of doing business changes over time. Hiring specialists to meet the demands of the regulatory environment and keep a business compliant is one such expense.

A business needs to have these systems and the expertise in place to ensure a healthy bottom line.

But often employing dedicated specialists is unaffordable, and the process of integrating solutions can detract from other important areas in the business such as production and sales.

Enter the outsourcing solution and BDO’s new outsourcing division — Business Services Outsourcing.

As part of its Business Services Outsourcing practice, BDO helps clients manage diverse aspects of their business to unlock value.

Offering scalable solutions to various needs, BDO  integrates, manages and optimises recurring processes to reduce costs and allow businesses to focus on their core priorities.

Whether it’s looking to transform finance and accounting functions, upgrade a company’s approach to human capital management, or chart a path for the future of an organisation, BDO helps businesses reach their goals. 

Efficiency through integration

BDO has found one of the biggest advantages of outsourcing is efficiency offered through integration of optimised services and processes. Thanks to technology, outsourcing non-essential services such as payroll, accounting and reporting can now all be done online.

At BDO, everything feeds from one computer system into another, using technology and platforms set up to protect client data and information and ensure transaction integrity. This means information can move a lot faster, more securely and with greater accuracy, as there’s less room for human error.  

Cloud computing further ensures all software is working in real-time, routinely monitored and automatically updated. So businesses no longer have to concern themselves with ensuring systems are regularly aligned with legislative requirements. By saving time, outsourcing offers a business greater efficiency and, in the long run, improved profits — two key parts of a company’s financial health.

Specialisation of knowledge

Another modern workplace reality is skills shrinkage. In SA many skilled workers get recruited by employers overseas. BDO recognises this challenge to corporate SA and tries continuously to mitigate it through outsourcing.

Take BDO's qualified team of specialists. Most graduates have to go through a professional service firm such as BDO to qualify as finance and accounting professionals. This training and qualification is centred on the services they offer.

So, if you’re a company looking for a financial accountant or tax specialist, BDO is ideally positioned. And because BDO has more than five decades of experience, its specialists have confidence in their “be assured” guarantee that any business looking to work with them will receive the best quality service and expertise to ensure their needs are met.

What sorts of needs? One of the major requirements for a business is managing risk to meet compliance and legislative requirements, and to avoid penalties or more serious future consequences.

These risks often require multiple specialists, which is why the integrated outsourcing approach BDO offers works. Instead of speaking to multiple people, a business owner can speak to a project manager tasked with co-ordinating the various specialists associated with the complex effort of meeting reporting deadlines.

In addition, BDO has identified a set of important metrics that every business needs to monitor. Keeping track and managing these sorts of things is what makes outsourcing an invaluable asset to any business.

To contact BDO call today: 021 417 8777 or go to the website, or send an email.

• BDO is a national firm with five regional offices. Find out more about BDO's new outsource offering here.

This article was paid for by BDO.