November 14, 2022
Cashflow Insomnia: How Outsourcing Helps You Sleep Better
Fast-growing businesses can be exhilarating as well as exhausting! The excitement is seeing revenue growth, an expanded customer base, product development, and growth of your team. The downside is CASH FLOW! However, outsourcing helps business owners around the world to sleep better at night.
It is estimated that cash flow;
- Keeps 35% of business owners awake at night
- 65% feel “regularly stressed” or "Anxiety"
These stats are not for a lack of experience. The survey average respondent had 10+ years of running a successful business.
Partnering with an outsourcing company can help alleviate the sleepless nights and anxious days in multiple ways. Here are three areas that can have an immediate impact on cash flow and efficiency;
Learn more about how outsourcing helps business owners grow their businesses.
Utilizing a well-trained, experienced virtual payroll team member, can reduce your cost by 75% while having a dedicated person managing all processing and reporting. additionally, your virtual assistant will be working your hours, so there is no need to worry about the timeszone differences.
Outsourced Accounts Payable
Hire a full-time accounts payable manager while utilizing some amazing and efficient apps like Bill.com or Expensify.com can make your processes much more accurate. You can also use your team to negotiate discounts.
Outsourced Inventory Analyst
Analyzing and maintaining the correct inventory as well as the proper levels can significantly improve sales as well as reduce cash flow drains. Having a trained, outsourcing solution is the answer. Another important aspect, your virtual team member, is dedicated to your company only. That way you only deal with one person.
J.W. Oliver is the founding and managing partner for GlobalBPsolutions.com based in Texas with a BP centre in Africa. They are a Christian based business with a desire to help businesses and ministries to be their very best while helping support people and ministries Globally.*Per June 2019 INC Magazine