Focus on business
In an era of rapid change and fierce competition, the key to business success lies in the ability to adapt quickly and focus on strategic priorities. However, many companies still allocate too many resources to handling a range of operational issues, diverting attention from more critical tasks. Moreover, global crises present businesses with new challenges: lack of time, human and financial resources, and the complexity of strategic planning in an unstable world.
The spectrum of operational processes requiring regular attention in any business is extensive:
- Payroll processing and compensation payouts to employees
- Personnel management, tracking work hours, sick leaves, vacations
- Tax planning and reporting
- Accounting and managerial accounting
- Legal support for business activities
As businesses expand, managing these routine yet resource-intensive tasks becomes a significant headache for managers and necessitates delegation. So, what are the solution options?
Solution 1
Expanding the internal team
Increasing the team’s size is the most traditional option that managers consider first. However, attempts to solve all problems through hiring full-time specialists lead to a significant increase in payroll costs and tax burdens. According to Glassdoor, the average salary for an accountant in the USA is $76,700 per year. Maintaining HR managers and recruiters is also costly. People First Club research shows that the median annual income in this field is $42,600 in the USA, $30,000 in Germany, and $25,200 in Poland.
Universality can also be a problem for narrowly specialized professionals. From time to time, they have to perform additional functions for which they lack knowledge and experience. In large companies, besides hiring specialists, it is necessary to create separate departments and management verticals to oversee the respective departments.
Of course, people are people, and it is always necessary to remember that any specialist, regardless of how much you invest in their development, can resign, and you will have to find a worthy replacement.
Solution 2
Multiple external contractors, each solving a specific task
Facing the complexities of the human factor and trying to optimize costs, business managers typically start looking for external contractors. However, delegating individual functions to outsourcing to various contractors creates additional trouble.
In practice, contractors often act independently, requiring constant intervention to synchronize their work. Moreover, there is a risk of data discrepancies due to communication gaps – to avoid mistakes, the customer has to monitor the most critical processes additionally.
Platform solutions for automating operational processes may also seem like an alternative, allowing streamlining HR management procedures or payments. However, in this case, the responsibility for the accuracy of information and the timeliness of preparing primary documents is usually shifted to the contractor. In the future, this can lead to unforeseen losses, primarily related to compliance, data manipulation, or poorly processed terms in contracts. It is worth noting that even using several similar platforms not only requires additional expenses for subscriptions but also demands the presence of internal specialists for management, quality control, and data integration.
Solution 3
InfinIT as the sole external contractor
Having tried various options to overcome operational challenges, business representatives increasingly opt for a single partner capable of providing comprehensive and quality execution of the entire range of tasks. This is where InfinIT comes in.
Our services offer tangible advantages compared to the first two approaches, and here’s why:
- Outsourcing all routine processes frees up the working time of managers and teams, allowing them to focus on business development.
- Cost savings – by engaging a single external contractor instead of hiring, training, and maintaining employees, you can save up to 30%. Moreover, all your expenses are predictable and transparent – we keep track of that.
- A comprehensive approach to operational support for your business thanks to a full range of services from one partner company.
- Clients always have a “single communication window” for prompt resolution of any situations and issues. We are in touch even on weekends and holidays.
- InfinIT ensures synchronization and effective control of all tasks’ execution on its part, including bearing financial and legal responsibility for their quality.
According to Deloitte research, involving more than 500 leading companies in the business and technology sectors, 61% of them already use outsourcing for tax support, and 57% – for personnel management. The wider the range of services available for delegation, the more resources are released for the development of the core business.
All that remains is to choose the optimal solution – the single external contractor that combines team expertise and the use of automated solutions under one roof. By working with InfinIT, you can finally not only save time and resources but also focus on the main thing – developing your business.
Focus on business, we'll take care of the rest.
