Infosearch offers back office service to various businesses that belong to a variety of industries from across the World. Though the example organization that we discuss in this article is not our experience, we have supported quite a few businesses and helped them to enhance their performance. Infosearch's back office services include BPO services, invoice factoring, underwriting, financial accounts, HR, e-commerce services and infrastructure management. Contact Infosearch for outsourced back office services.
The Startup Struggle
A fast-growing startup firm on the cutting edge of the
AI-assisted healthcare sector was Zenith Innovations. The future of their
platform was looking quite bright, as they were aiming to revolutionise the
patient care model. However, the company was grappling with the typical startup
challenges: constraints, increased growth rate and the overwhelming struggle
between strategic business processes and support processes.
Daily people problems, accounting and financial issues,
computer and technical problems, and administrative concerns were taking so
much of the founders’ time and focus away from what they were really meant to
do. Many of these difficulties increased linearly with the company size and
could have become limiting factors for the organisation’s development.
The Back Office Breakthrough
Understanding the importance of proper back-office
operations, Zenith for this reason decided to outsource them. They engaged a
professional outsourced back office services company, Optima Solutions that was
well-reputed to understand start-up requirements.
Outsourcing was done of the Human Resources, financial and
accounting, Information Technology and administrative functions to Optima
leaving the key team of Zenith to concentrate on manufacturing, product
development, sales and market development. That partnership was a real bargain.
The Transformation
• Accelerated Growth: The back-office
interference was over and Zenith’s core team gained more time for the invention of
new products and the expansion of the company’s presence on the market. This in
turn resulted in less time taken in product development and the penetration
into more markets.
• Improved Efficiency: Use of
well-structured processes and company best practices improved Optimas processes
and hence Zenith. This led to gains in costs and better organizational
utilization of resources.
• Risk Mitigation: Compliance and
security knowledge and experience of Optima assisted Zenith in avoiding
probable risks concerning operations of the back office.
• Scalability: Optima’s structure
also maintained a reduction of overhead constraints throughout Zenith’s growth,
making it easy for the startup to scale without worrying about back-office
issues.
The Results
After a year of Optima’s involvement with Zenith, the latter
reported double its revenue, a wider customer trim, and a large investment boost.
He took the company to the heights of success and it became one of the leading
companies in the industry in terms of valuation.
Widely known due to the success story of Zenith Innovations
one can identify the importance of back-office support for a startup company.
By outsourcing those functions which are best done by others, Zenith was able to
focus on delivering only its best shots at functions which it believed could help
it grow faster and gain maximum market share.
Key Takeaways
• It is important to remember that
back-of-the-house processes are as essential to a startup’s success as
anything.
• They may also be contracted out,
which could reduce resources when implemented and fasten expansion.
• It is important to select the
appropriate back-office support supplier.
• The right alliance can spur serious
transformation in business.
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