As outsourcing's reach broadens, some very dramatic patterns are emerging. Earlier the companies used to outsource in areas like manufacturing where cost considerations were paramount. Now the companies outsource even those activities which involved day-to-day functions such as facilities management and information services maintenance.

As they gain experience with outsourcing arrangements and management, companies expand their outsourcing further until they are even outsourcing activities that center around the relationship of their most prized possession their customers.

Companies who realize the full potential of outsourcing know the benefits go beyond cost savings. They can actually gain more control over their processes that are outsourced as well as increase their flexibility in the market.

The companies that outsource business processes are often able to reengineer those processes and capture new efficiencies. Then they can reallocate resources to other important projects and leverage their investment in technology.

The following processes under the different functions can be outsourced:

Finance and Accounts

General Accounting
Accounts Receivables
Accounts Payables
Billing Services
Reconciliations
Tax Returns
Audit of Accounts

HR Services

Payroll Services
Benefits Administration
Personnel Administration
Retirement Planning
Hiring and Recruitment

Transactions Processing

Royalty Claims Processing
Accident Claims Processing
Health Claims Processing
Check Processing
Credit/Debit Card Processing
Insurance Claims Processing

Transcription Services

Legal Transcription
Medical Transcription
Other Data Conversion

 
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