Customer-facing roles like sales and marketing, are usually considered the ‘front-office.’ Roles that don’t interact with customers, like accounting, HR, operations, and others are considered ‘back-office.’ The back office may not be the most exciting part of your company, but it’s actually a crucial component to a well-run business.
The back-office roles don’t generate revenue, which can make it easy to seem like a cost center. But a well-run back office can actually make a big impact on the profitability of your operation, which is why it’s a good idea to invest in getting the work done right and efficiently.
Here are five ways that you can set your back-office operations for success.
Managing the back office is time consuming, and for business owners trying to manage the back-office themselves, this is time they can’t spend on growing their business. Working in multiple systems, entering the same information over and over decreases productivity and creates a larger payroll expense. Investing in an all-in-one product that simplifies daily tasks, eliminates virtually all double-entry with real-time accounting, and gives you time to focus on growing the business is definitely worth the investment.
Going paperless improves communication and productivity between your front-office and back-office teams. Empower your team with paperless technology that makes everyday tasks seamless without having the need to store and retrieve paper documents. Going paperless also keeps your data and documents safe in the instance of a natural disaster, fire, or flood since the documents are stored on a cloud server.
On average, business owners and managers spend at least eight to ten hours a week on manual tasks – that’s a whole workday! Implementing automated processes minimizes errors and redundancy, resulting in more efficient work. Another area where you can see cost savings when automating processes is in collections. By transitioning to an electronic payment system, like eAutoPayment, you can help your collectors focus on making more calls to increase revenue and reduce delinquency. Automation translates to more labor hours available to grow the business.
Most businesses have large amounts of data on several different systems – meaning employees may be using different processes. If an employee doesn’t follow protocol or any information goes unaccounted for, there is going to be a roadblock in your audit trail. Investing in a system that handles all your processes while ensuring that you are following all applicable laws can give you the peace of mind in the instance of an audit.
As a business owner, having accurate and full financial visibility of the operation is paramount. Having a solution, like Deal Pack, that has real-time integrated accounting gives business owners complete peace of mind. They say that knowledge is power, and having a solution to run full financial reports like a P&L, Trial Balance, and Age Analysis at any given moment, anywhere in the world gives business owners that power.
For established and growing companies, finding a solution that provides back-office expertise is a true investment. One thing to consider is the value of your business – it is your livelihood. Ensuring that you have the right solution, like Deal Pack, that hits these five topics should be at the top of your list when choosing the right Dealer Management Software.
To learn more about Deal Pack, please call 800-526-5832 or email firstname.lastname@example.org.