We often are asked about what the key benefits are of outsourcing Income Reconciliation and as we provide this as one of our key services, I thought I would put together this article which outlines where firms can gain benefits when considering this as an option.
There are several benefits to outsourcing which have been outlined below:
Cost savings - This is always a key consideration and is a clear benefit when firms look at the cost of hiring someone with the right skills, knowledge and organisational fit. Having a team of people, rather than one person means that it removes a single point of failure in a business. It helps companies avoid the costs associated with recruiting, hiring and training new employees.
Access to specialised expertise - Often the teams performing this type of function can be small, depending on the size of the business, or in many cases it can just be one person who has responsibility. Consider then having a team with this and wider knowledge on your CRM that the firm now has access too.
Increased efficiency - Outsourcing can increase efficiency by allowing companies to focus on their core competencies and servicing clients. Allowing for better efficiency, increased productivity and profitability.
Scalability - Outsourcing can help firms to scale their operations much quicker and more efficiently.
Flexibility - Outsourcing can provide companies with greater flexibility in terms of staffing and resources. For example, a company may choose to outsource certain tasks on a project-by-project basis, allowing them to scale their resources up or down as needed. This can be particularly beneficial for small businesses that need to be agile in order to compete in a rapidly changing market. Jigsaw Tree can provide holiday/sick or maternity leave cover for those firms who have one person who covers this function, which means the business knows that this work is being competently covered during periods of absence.
Improved quality - By outsourcing it can lead to improved quality of work as Jigsaw Tree specialises in outsourced income reconciliation it leaves the inhouse team to focus on data quality. In addition to this, as we have accreditations/certifications in a number of CRM solutions we can offer a fresh perspective on the company's operations, leading to new ideas and approaches that can improve overall performance.
In conclusion, outsourcing can provide many benefits to companies of all sizes. From cost savings to increased efficiency and scalability, outsourcing can help companies operate more efficiently and effectively. If you are considering outsourcing, it is important to carefully evaluate potential providers to ensure they have the expertise and experience needed to meet your business needs.
If outsourcing appeals to you and you would like more information, please visit our income reconciliation page where we have testimonials and case studies,
We also offer a FREE 30 minute consultation or you can email hello@jigsawtree.com. If you would like to speak with one of our existing clients, we are keen to put you in touch, as this is a great way of understanding better the services that we provide.
You may also be interested in reading our blog 'Outsourcing Your Income Reconciliation – It couldn’t be easier.'. In this blog, we outline the 4 step process we use.