It’s easy to think that having a business is all about establishing a certain brand, doing the right marketing campaigns, and reaching out to your target audience. However, it’s not just these things that your customers or what other people see from your business. Having a business is more than that, and it includes back office support.
If you’re just starting out, your focus might be inclined more towards the marketing and branding side of your business. That’s understandable since these will be what your business is going to be known for. But that doesn’t mean that these are just what makes your business. There are also other departments, particularly the back office support, that constitute the business’ identity.
Take a look at some of the important back office support roles that you will be essential to your success.
What will be a business without employees? Absolutely nothing. If you’re just starting out, it’s easy to think that you can do everything on your own. However, it doesn’t work that way. When you’re managing a business, especially a growing one, you will need more people on your team. This is so you can focus on the things that make your business complete.
A human resource department is essential for taking in new people and retaining them. This department is responsible for making sure that your employees are well-taken care of, and that every concern that may affect how they work is addressed. Without the HR team, you can’t expect that you can personally manage your employees and still have the time to oversee other departments.
All businesses run on money. Should this be mishandled in any way, you can expect that it will also be its downfall. The accounting side of the business is run by accountants and other accounting professionals. Their role is to oversee the whole financial situation of the business – from its operations side to its sales. This should also include the company’s bookkeeping and payroll.
It’s important to have an accounting department intact since the financial status of the business should be updated regularly. The status will tell you how well the business is doing financially and can be used to predict the trend of sales for the next quarters. Through this, you’re guaranteed that every accounting data that the business has will be properly streamlined, and everything is being accounted for.
Along with accounting comes tax compliance. The last thing that you would want to encounter is for your business to be labelled as non-compliant to the tax regulations you have locally. Hence, the legalities of your business’ compliance should always be checked by your compliance team. This may constitute an auditor that checks and balances every data that the accounting team gives out.
It functions primarily to make sure that the company complies with the tax regulations and other local business practices that may be required. In Australia, there are quite a lot of business and environmental laws that all businesses should be following. One of which is the competition law that is being primarily handled and enforced by the Australian Competition and Consumer Commission or ACCC. This law ensures that trading is fair between businesses and consumers. Other regulatory laws are the Australian Consumer Law (ACL) and privacy law, among many others.
The regulatory compliance department ensures that the business is very well updated with these laws and are strictly adhering to it. This is so penalties and possible lawsuits could be avoided along the way.
There’s more to a business than just what people see from the outside. It is composed of professionals working hard to ensure that the business stays afloat, and operations won’t be disturbed in any way. Back office support is just as important as the front office. Without these people comprising the back office, the smooth flow of day-to-day work won’t be possible.
Should you need the right set of individuals to do this for your business, Flexisource IT offers back office support. We use the best practices in the industry to ensure our customers’ goals are being met.
Jessa is an SEO content and press release writer for various websites about tech, digital marketing, law, and medicine. She also manages her own blog and writes lifestyle articles in her spare time.