-
Here’s How Business Process Outsourcing Makes It Easy To Scale Up Your Company
When you’re running a business, how well your business scales is a vital consideration. This is particularly important for small and midsize businesses and new companies. Scalability plays a significant role—perhaps the most significant role—in determining if your business is poised to take advantage of growth opportunities and respond to market changes.
Is your company scalable? In other words, is it able to change as needed when the situation changes? One way to find out is to ask yourself how well and how quickly your company could scale up if the opportunity presented itself. Ask yourself questions like these:
- Could you meet customer demands if the call for your services or products doubled tomorrow?
- Can your company adjust if demand falls off a bit one month, then skyrockets the next?
- If a new market opened, would you be able to take advantage of it?
- Assuming you could answer yes to those previous questions, could you scale up without it impacting normal business operations?
One aspect of making your whole company scalable is to use scalable business processing solutions. When core business processes like accounts payable, purchasing, and document management can scale up easily, then it’s much simpler to scale all the other aspects of your business. Business process outsourcing (BPO) or cloud-based business process automation (BPA) software simplifies key financial processes and enables scalability.
How BPO and BPA Enable Scalability
If you’re trying to manage your company’s financial processes such as accounts payable and purchasing manually, then scaling would be difficult. You’d likely need to hire additional employees to deal with the increased workload. It might involve implementing a new system to deal with the extra work, which could put a burden on your IT department as well or result in a large number of new paper files to manage.
When you’re working with a company like NextProcess to outsource and/or automate key business processes, scalability isn’t something you need to worry about. We take care of that for you. Take purchasing, for example. If you suddenly need to place a lot more orders than usual, the system makes it simple to generate new purchase orders, track purchases, and connect with accounts payable. Transaction-based pricing means you don’t need to clear additional transactions with us and you won’t get hit with a bunch of extra fees. You just pay for the services you use the same way you did before scaling up.
Outsourcing works the same way, but it’s even easier for your company. For example, if you outsource document imaging and management to NextProcess the files related to your increased workload will continue to be scanned, indexed, and stored securely. You’ll quickly get a searchable, central database of digital images that employees with the right security permissions can access anywhere.
Scaling Up and Down
Usually, “scalability” in businesses means the same thing as “scale up.” And if all’s going well, that’s usually the case. A scalable business is one that can adjust to increased market demand. If you’re in a field where demand fluctuates, though, it can be helpful to be able to scale both up and down as needed so you’re not losing money during slower months.
For example, if there’s a month where you make fewer purchases for your company, then your AP department won’t need to process as many invoices. Using accounts payable software or an outsourcing solution that scales to your needs—where you only pay for the invoices you process that month—will save you money.
Similarly, if you suddenly get more orders than you were expecting and need to purchase additional supplies, an AP outsourcing solution from NextProcess scales up to process however many invoices you need. With outsourcing or a software-as-a-service model, your business processes adjust quickly to exactly what your company needs.
[imagenumber: 157816191]
Stay Policy Compliant
As a company begins growing, it could be easy to lose track of some things, particularly if you’re relying on paper files. Maybe some expense reports or paper receipts get lost in the shuffle if employees begin traveling more. Maybe company policies suddenly require updates to cover increased capital projects or payment disbursements.
Being a scalable company involves being ready to scale up every aspect of core business processes while staying compliant with best practices and regulations. We’ve already covered how BPO and BPA software can scale along with your company. One thing we haven’t mentioned yet is that you can customize the software to match your company policies. The software will automatically enforce policies as your company scales up. You can also update the custom policies as needed, quickly implementing and enforcing new policies.
In addition, NextProcess offers an Expense Report Audit Service. This lets your company outsource expense report review, making sure your employees are quickly reimbursed for legitimate business expenses. There’s no hassle for your in-house employees, and using a third-party supplier helps segregate duties and ensure policy compliance. You can also outsource payment processing for expenses as well as other payments.
In Conclusion
Being scalable makes your company more efficient. It also puts your company in a position to take advantage of new opportunities without having a negative impact on daily operations. Using BPO or BPA software to streamline key financial processes is a huge step toward having a truly scalable company.
Outsourcing or automation makes it very simple to scale up core business processes. It also makes things easier on your employees, freeing up their time to focus on growing your business and responding to opportunities rather than routine paperwork tasks.
If you’re interested in using business process outsourcing or automation to support scalability in your company, get in touch with NextProcess. We’ll be happy to answer any questions you have. You can also set up a free demo to see exactly how our customizable solutions could work in your company.