In today’s world, complex and global mid-market companies face an entirely new set of challenges, and not all are able to keep up with the back-office demands of having an expanded reach. Compared with the Fortune 500, companies averaging between $300 million and $3 billion have unique and complex needs. Fortunately there are solutions.
Biggest Back-Office Challenges For Mid-Market Companies
IT services, accounting, and finance are three of the major areas where mid-market companies struggle. With a smaller amount of employees in relation to the volume of customer demands, financial tasks and technology needs, mid-market companies are continually looking for a way out of the struggle. Trying to optimize business processes in the back office is a task that is further complicated by other factors slowing down the processes of mid-market companies – namely a recovering economy and a hostile regulatory environment.
In the 2014 Gartner CEO and Senior Executive Survey, Gartner Fellow Mark Ruskin said that aging, regulations and the economy were the top issues affecting mid-market companies. The survey also showed that more than 30 percent of respondents said growth was their top priority. Most respondents placed heavy importance on digital and technology processes. Mr. Ruskin said that these companies must be willing to make the cuts necessary and take advantage of opportunities to make technology and digital improvements a priority. Accounting, customer service, IT support, and various financial processes are some of the top areas that can be optimized with business process outsourcing.
How BPO Solves Back-Office Challenges Of Mid-Market Companies
In the past, business process outsourcing was something only larger businesses could do. Today there are outsourcing providers whose services are designed around the unique needs of mid-market companies. With these tasks outsourced to capable and trained teams of professionals, needs are met immediately and a company can focus on dealing with core business activities. Businesses can then use their best resources to focus on other challenges.
ContinuServe specializes in BPO services for mid-market companies. Advising services help CEOs determine which business processes are best to outsource. For the processes that are better to outsource, ContinuServe offers quick solutions that are affordable and customized to meet complex BPO needs. Contact ContinuServe for an evaluation today.