Hybrid Outsourcing: The Modern Accountant's Approach Over Traditional Outsourcing
In today’s globalised business landscape, outsourcing has emerged as a strategic practice to achieve various organisational goals, including cost reduction, efficiency, and access to specialised skills. Traditional outsourcing models usually involve assigning particular tasks or roles to third-party vendors, often based in countries with lower operational costs. However, the drawbacks of traditional outsourcing—like poor communication, cultural barriers, and a lack of control—have led to the development of a new, innovative model: Hybrid Outsourcing.
What is Hybrid Outsourcing?
Hybrid Outsourcing is an evolved form of the conventional outsourcing model, designed to provide a more balanced and effective solution. It bridges the gap between front office tasks, which are client-facing and strategic, and back-office tasks, which are primarily operational. The model offers a dual-layer of support by integrating expertise from two different geographical locations, typically combining a local consultant with a team based overseas.
The Importance of Quality Relationships
The foundation of any successful outsourcing venture lies in the quality of the relationships established. With Hybrid Outsourcing, clients are not only given access to a skilled team but are also assigned dedicated experts to ensure seamless communication and task execution. When you go with Hybrid Outsourcing model, you can get both a local consultant and an accountant familiar with your specific needs. These relationships are vital for building trust, clarifying expectations, and providing consistent support.
A UK Front Office and an Indian Back Office:
With Doshi Outsourcing’s Hybrid Outsourcing model UK-based consultant pairs with an Indian back office. The UK front office usually focuses on client relationships, business strategy, and compliance, offering local expertise and quick access. On the other hand, the Indian back office provides operational support such as data processing, customer service and technical tasks. This is where the inherent value of experience comes into play—the team is knowledgeable about the facts of running both offices efficiently.
Amplifying Support with a UK-based Accountant
Adding another layer to this robust structure is the introduction of a UK-based Accountant who has previously held a senior role in an Indian back office. This individual serves as a valuable intermediary, possessing complex understanding of both cultures and operational methods. UK accountant amplifies the existing support structure, making it vital for the client. Their comprehensive operational knowledge ensures that the client is fully supported, not only in strategy but also in day-to-day back-office operations.
Ensuring Longevity and Success
Hybrid Outsourcing offers a dynamic, scalable solution, giving you the right relationships at the right time. From day one, you're not just a client but a partner, supported by a multi-layered team that understands your needs and can adapt to your business landscape. It's not just about cutting costs or improving efficiency—it’s about creating a long-lasting, quality relationship that benefits all parties involved.
Hybrid Outsourcing offers an integrated, tailor-made service that combines the best of both worlds, ensuring clients are fully supported from day one and for the entire relationship.
By Dhruv Doshi
Doshi Outsourcing will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand J16.
You can register for a free ticket here.
New bespoke outsourced support to give valuable boost to financial businesses
UK finance businesses and accountancy firms can now benefit from additional award-winning customer service support with a new bespoke service from global outsourced communications provider Moneypenny.
The new service will enable businesses in the finance industry to fully outsource customer care to Moneypenny - using them as an extension of their own teams, without the need for additional fixed overheads.
Outsourcing communications and customer services to a dedicated specialist has been shown to help customer-centric companies by making them up to 60% more profitable[1].
With a remit designed to suit clients’ exact needs, Moneypenny’s new flexible service can be used to respond to inbound queries, proactively engage with enquiries and clients, book appointments, manage social media accounts and oversee reviews platforms as well as handle payments, ID verification and order processing.
Moneypenny can also record activity directly into clients’ lead management and CRM systems to save time and ensure a seamless approach to data management.
Louise Wilson heads the finance sector at Moneypenny, which provides telephone answering and live chat support to hundreds of financial services businesses in the UK. She said: "We know and hear how busy financial businesses are, and how customer care can often be something their in-house teams simply don't have the resource to meet. With client enquiries and customer touchpoints now covering multiple channels including email, phone, social media and live chat, there's more communication than ever before and more opportunities to show empathy and support to existing and prospective clients.
"Our bespoke service allows our experienced and professional to offer bespoke support at an omnichannel level, and provide these businesses with flexible additional resources to suit their needs whilst ensuring customer service is consistently at a high level."
Mark Finlay, Chief Commercial Officer from Moneypenny, said: “Businesses are under pressure like never before. With research showing that brands with superior customer experience bring in five to seven times more revenue than competitors that lag in customer experience[2] it is more important than ever to deliver a consistently high customer experience to valued customers.
“We’ve always been a ‘right-hand man’ to businesses with our call and live chat handling, but this new service sees us going even further. We’re offering flexible and comprehensive support that’s tailored to clients’ specific needs and will ensure they’re delivering a consistently high customer experience to valued customers.”
Moneypenny provides telephone answering and live chat services to hundreds of financial services businesses and is trusted by the UK’s top accounting firms, including five of the top 30.
Established in 2000, Moneypenny is the world's market leader for Telephone Answering, Live Chat, Outsourced Switchboard, and customer contact solutions. More than 21,000 businesses globally benefit from Moneypenny’s mix of extraordinary people and ground-breaking technology.
For more information about how Moneypenny supports the legal sector, visit: https://www.moneypenny.com/uk/accountancy-answering-services/
By Moneypenny
Moneypenny will be exhibiting at Accountex Summit Manchester on the 19th September 2023 on stand H5.
You can register for a free ticket here.