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To Outsource or Invest in Technology

May 23, 2013

There is a lot that goes into a successful business operation.  Typically we look at the retail and production end of a company and assume that’s the business, but a lot has to happen for the business to run smoothly and successfully.  People have to get hired and paid to do the work, orders have to be placed for production to continue, bills have to get paid, and computers have to run.  All of this is managed by what we call the “back office.”

One solution is to keep all of the services in-house.  Maintaining control of the services within your agency might be ideal for small businesses.  You do have a little more access to your employees and services.  By outsourcing, there is an immediate short-term cost, but most find that the long-term savings and benefits far outweigh any short-term costs.  If you are looking to centralize all of your accounting and human resource needs, back office outsourcing services may be the perfect solution for you.

The alternative to outsourcing to an outside agency is to maintain all of the work in-house.  Whether your industry is products or services, technology frees you up to manage other aspects.  In the case of real estate there are a lot of solutions available to manage your business.  A major asset is real estate property management software.  You can pay a salary to someone to manage your properties, or you can invest in real estate accounting software.  Imagine being a brokerage that focuses on making sales rather than managing office paperwork.  A software system allows you to make payments, receive reminders and renewals, and run reports.  It will make you significantly more efficient and successful.

Prior to deciding on a software program you should do your homework to pick the best option for your business.  There are property management software reviews that outline the pros and cons of each program.  Because everyone’s need is different, you will want to look at the property management software review specific to the program that you are considering.

Whether you are considering outsourcing all of your back office work, or investing in a portfolio management system, breaking free of the day-to-day responsibilities of the office will increase your sales and productivity.  If you are looking to save money on salaries and consolidate your business, then the outsourcing option is the best for you.  In the long run the service will pay for itself and ultimately save you money.  If you prefer to keep all of the services at your fingertips, then invest in the right software to give you the control you are seeking.

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