Back Office Services
Companies worldwide have recognized the fact that managing customers effectively is the key to customer experience. An integrated and consistent customer experience across all touch points and phases of the lifecycle - pre purchase, purchase and post purchase is imperative to maximize customer value in every business.
A Back Office is that part of a firm or organization where tasks dedicated to running the company take place. Typically, the back office would be those manufacturing or developing the products or involved in administration with no interaction with the customers. Other tasks include IT departments that keep the phones and computers running, financial accounting, and HR activities. A back-office system will also keep a record of the company’s sales and purchase transactions, and update the inventory as needed apart from producing and maintaining invoices, receipts, and reports. Thus, Back Office Processes are a major contributor to business.
Back Office Processes vary across industries:
- Banks – amongst other processes deal with the following back office processes :
- Position Keeping
- Clearance
- Settlements
- Investment Firms
- Trading Securities
- Record Keeping
- Trade Confirmation
- Trade Settlement &
- Regulatory Compliance and other related functions
- Back Office Processes for a general sales oriented company would involve customer-support.
Major Business Process Areas Outsourcing Their Services.
Some key industries outsourcing their support and transaction processing work to Back Office Companies that includes.
Finance & Accounting.
Human Resources.
Web Enabled Services.
Outsourcing your work will help your company to achieve your company goals. Interactive Web Help-desk as your outsourcing partner help’s you to increase your profits, reduce business risk and create breakout value with new services and revenue streams.
Back offices are not necessarily at the headquarters of a company. They are usually located in places where rent and labor costs are lower. Back office processes can also be outsourced to consultants.
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