The complicated part takes place when data has to be researched, identified or need interpretation or the application of business rules before these are entered into a system. This creates opportunities to upskill these employees to perform more complex, creative tasks that are more fulfilling. Apply for a Job, Staff Leasing Modern back offices will continue to explore AI-enabled solutions as they become available. Are able to move multi-skilled resources between teams to address peaks and valleys in work volumes. There are a lot of management decisions made that are reactive vs. proactive, based on past experience and anecdotal evidence vs. real-time operational data, and are limited in scope (one team or function) vs. a holistic view of the entire back-office operations. Here are the 5 most outsourced back-office functions: Data entry is a very wide discipline. Managed Services What is the Importance of the Back Office? Read the eBook, Humans and RPA Robots Working Side-by-Side: Are You Ready? As the name suggests, back-office refers to the functions which are required to be carried out efficiently to ensure the success of the business, but these services do not fall into the core operations functioning of the firm. From time-to-time Verint (and its subsidiaries) would like to share information relating to future events, surveys about Verint, webinars, industry best practice and thought leadership with you. 8741 Paseo De Roxas Avenue 175 Broadhollow Rd, Ste 100 Humans and RPA Robots Working Side-by-Side: Are You Ready? Software companies commonly sell back office software for hotels that will help provide annual accounting reports or organize long-term financial details. And the operational management methodology helped them streamline, simplify and achieve consistent management practices. Your email address will not be published. What Functions Reside in Back-Office Operations? In addition, most back offices have one or more workflow or business process management (BPM) solution, case management, or a legacy transaction processing system. Back Office Executives have support responsibilities and handle functions that help the front office work well. These roles include, but are not limited to: Unfortunately, it is common in traditional back offices for the highly skilled employees to also perform the more simple administrative tasks. Save my name, email, and website in this browser for the next time I comment. A small improvement from the clothesline is the use of Excel spreadsheets or Access databases to capture and track work. 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Furthermore, you’ll feel more secure with the marketing strategies developed and exerted because they are in expert hands. What Industries Have Large Back-Office Operations? The back office is the portion of a company made up of administration and support personnel, who are not client-facing. 15.3X average year-over-year decrease in operational costs, vs. a -1.5% for traditional back offices. Not only are they able to improve the quality of their operations but scale their business strategies as well. Now, startups and medium-sized companies are jumping the bandwagon after realizing the importance of outsourcing payroll and accounting activities. Customer support operations will typically have access to the company’s Customer Relationship Management (CRM) solution. Modernize Your Back Office, Aberdeen Report: Essentials to a Modern Back Office, Information technology (IT) / Data Management, IT provide the tools and data employees need to perform their jobs. Organizations are just now starting to realize that to get the true value of their front-office investments, they need to expand their digital transformation efforts to the back office. 8741 Paseo De Roxas Avenue 2.8X greater annual increase in customer satisfaction, 5.4X annual increase in the number of quality SLAs met. Another benefit of having a back office is its availability to serve clients. Through outsourcing, companies save costs by insulating themselves from what could be costly payroll tax or calculation errors and ensuring employees are paid properly and on time. US: +1 484 334 2227 Booth and Partners What Is a Traditional Back Office: the type of work, roles, systems, management styles and challenges? You’ll not only get all the perks of having an awesome marketing staff, but you can stick within your budget as well. There is still a lot of paper pushing and processing performed in the back office. These simplified platforms have given companies an alternative to business process outsourcing (BPO), which involves handing over the management of a company's back-office to a third-party service provider. Let’s explore this by comparing the traditional back office to a modernized back office. We’ll illustrate how managing the many types of work, people and processes can be very challenging for traditional back-office operations and how modern back offices are overcoming these challenges. Back Office Executives do not interact directly with clients but work behind the scenes to ensure the smooth running of the company. Not a very efficient way to run a business. For example, industries with large customer support operations and processing functions include: These historically have been paper-intensive, people-intensive support functions. At investment banks, the back office will also be in charge of completing the administrative tasks associated with trades such as settlements, regulatory compliance and position clearing. © Booth & Partners 2018. Verint® Workforce Engagement™ solutions have been specifically designed to help back-office operations standardize and automate many management functions: And modern back offices are embracing technologies that not only do tasks for the employees and managers as listed above, but help the employee and manager by providing real-time guidance and resources: Technology is changing at a rapid pace. A blog on mergersandinquisitions.com points out that while the front office generates revenue, the middle office supports functions related to revenue generation (e.g., risk management) and the back office (e.g., IT and HR) must exist regardless of revenue generation. They’ll need to be able to “manage” their digital workforce (aka the robots) in addition to their human workforce. Finance and accounting: accounts receivables. The Peeriosity Corporate Back-Office Structure and Design Benchmarking identified some insights that were both confirming best practices as well as giving pause for thought. Back Office Executives provide administrative and managerial support for the staff working in the front office of a company. Visit Back-Office Operations: Achieving Operational Excellence, to learn more about back-office challenges. The bank: The biggest hurdle back-offices have to overcome is the perception that they are simply a cost center and not a potential competitive advantage. This can result in having one employee managing multiple functions or others taking on work in addition to their current ones when business becomes busier.Problems arise when unqualified employees take on multi-tasking back office … For example, efficient processes and quick access to needed data can help: And efficient management of back-office, customer support operations can help companies keep their promises to customers for accurate and timely delivery of goods and services. Downloading the Aberdeen Report: Essentials to a Modern Back Office – or both! Some are even referring to the back-office employees that handle these as “exceptionists.”. Sometimes referred to as simply “operations”, the term back office came about because in early building layouts, customer-facing tasks were completed in the front office – the storefront – and the administrative, processing and fulfillment activities were done in a separate area at the back of the building, without direct customer interaction. With the advancement of new technologies, the back office service providers also offer … Typical back office team structure The first step in setting up back-office outsourcing is to appoint a Personal Assistant or Virtual Assistant to each of your executive team members. However, managers then become little more than a reporting analyst, spending all their time updating their spreadsheets vs. managing and developing their team members. The back office jobs include the activities of account details maintenance, administrative tasks, security services, works of human resources department and all other support services. And many organizations are still at the early stages of transformation. The back-office projects involve the activities of accounts, sales records, management projects, security solutions, HR fnctions and other support solutions. A call center back office is the portion of a call center that is devoted to various types of administrative, support, and clerical activities that are essential to the function of the business. The decision to outsource your marketing team is a key step if you want to lighten the load of your company and focus on more of its important aspects. What is a Modern Back Office: they type of work, roles, systems management styles and challenges? Financial services (banking, wealth management/investment), Insurance (property and casualty; life and annuities; healthcare), Some utilities (think your electricity provider vs. oil pipeline company), A pharmacist, in a mail-order pharmacy business, An operations director in a business process outsourcer, Do not include/capture all of the work performed (e.g., manual tasks like sorting mail and scanning documents), Focus on standard process completion of specific work types – exceptions need to be processed manually/outside the workflow system. As one of the world’s leading management consulting firms stated: In a recent knowledge brief from Aberdeen, they found that a key difference between traditional and modern back offices is their focus. The bank implemented Verint Work Manager and Operational Management Methodology to improve their capacity planning and performance reporting capabilities. And recent research from Aberdeen Group proves that companies who improve or modernize their back-office operations dramatically outperform their more traditional peers. And a new skill set may be required for managers in organizations that embrace robotic process automation. Download the Aberdeen Group Report: Essentials to Modernize Your Back Office. For the remainder of this article, we will focus on the back-office functions that directly support and impact the customer experience. Several back-office software providers offer cloud-based services that simplify and streamline back-office management functions, particularly for companies with multiple locations. This article provides a high-level overview of back-office operations, answering the most common questions asked about back-office. On the higher end of the skills scale, as mentioned previously, different industries have specialist roles that require advanced knowledge, creative and critical thinking, and judgement calls. In the back office you'll find the information on the visitors that have visited your contents depending on the SMART, PIONEER or GLOBAL package: the general visitor database The work was manual, tedious, time-consuming, and error prone. These are often custom designed to automate the process and document management of specific work types. 15th floor, Citibank Center Building Can you imagine not having a digital/automated means of tracking work? backoffice provides the required documentation and technical support to the front office to facilitate the course of work and the business transactions Human resource outsourcing helps organizations achieve the highest level of employee satisfaction and streamlined business processes by freeing up their precious time and developing a better HR strategy which includes screening and hiring, auditing, compensation, leave management, retention, performance management and building better procedures and workflows. These activities are performed by different teams and functions that operate as siloes, each with their own systems and way of working. The solution provided them with real-time activity intelligence to help identify improvement opportunities. Privacy & Cookie Statement. Some industries, in particular service industries, tend to have larger back-office operations than others. This is because back offices are made up of multiple functions and teams which tend to operate in silos. At its centre is the core function of clearing and settling trades. The back office in an investment bank might encompass departments like I.T., operations, HR, accounting and compliance. Our back-office professionals have deep knowledge in a board range of healthcare back-office functions to ensure that your practice's financial health is taken care. Modern back offices continue to use CRM and BPM/workflow systems, but are adding in cloud-based solutions that leverage APIs to more easily integrate with existing systems. The back office typically supports, and works to deliver on, the objectives and promises of the front office team. In addition, the lines between front office and back office are starting to blur as consumers expect real-time updates on the status of their orders, and technology allows for quicker and multiple ways to access people and information. On the low end of the scale, roles can include: The tasks performed are very repetitive and rules-based, sometimes making it difficult for these employees to stay engaged. It’s basically the process of taking data stored in a certain medium and inserting these into a computer system through a data entry interface. Accounts receivable, although critical to running … Makati City, Metro Manila, Philippines Back then, it was believed that only established companies with a larger workforce can reap benefits by outsourcing their payroll activities. Explore Careers Back office departments are historically far less efficient than customer-facing organizations or contact center operations. Traditional back offices are also very transaction oriented vs. customer oriented as noted by Aberdeen. For example, handling the exceptions mentioned above requires a greater knowledge of the processes and variables that can impact a service or product offering. Case Quality Score: In the back office, maintaining customer satisfaction is a major objective. Contact us now to talk to one of our experts! Exceptions are work that the BPM/workflow/transaction processing systems reject due to an abnormality – perhaps a missing piece of data, a variable that doesn’t match the parameters, etc. HR, finance, IT and warehousing all fit into this category. Have a consistent reporting framework, with access to real-time activity data, so performance across functions can be equitably assessed. These functions are important to the success of an organization, but they tend to receive less public recognition. The back office is an essential part of any firm, and the job title is often classed under ‘Operations’.” Modernize Your Back Office; or. These solutions were created for different work types, functional groups, and/or gained through a merger or acquisition. SG: +65 3138 4791, Company However, as more and more simple tasks are automated (such as cutting and pasting from one system to another, extracting data from multiple systems to pre-populate forms, sending form response letters), what remains is even more complex work items and exception handling. 11.7X annual increase in employee productivity. Don’t provide managers with real-time data on their people performance and productivity (just process performance). Read the Capita case study to learn how a complex Life and Pension processing group was able to consolidate 2,663 customer workflow processes to 250 end-to-end processes and reduce average end-to-end processing times from 35 days to just 3 days. However, layering on solutions that can integrate through APIs is a workaround. The back office is an off limits area and that EVERYONE in the back office truly needs to be in the front office, however this isn’t really consistently the situation. It’s basically the process of taking data stored in a certain medium and inserting these into a computer system through a data entry interface. As leading analyst firm OVUM stated in their report, Keeping Customer Promises: Time for the Back Office to Come to the Forefront, digital transformation needs to be extended to the back office because “it is the myriad of connections that go on behind the scenes, from the front to the back office, that will deliver on the promises being made to customers.”. The Back Office jobs constitute a very integral part of the overall organizational activity for the constructive development of the organization. 11.7X annual increase in employee productivity, 2.8X greater annual increase in CSAT rates. The front office has been undergoing a digital transformation for the last two decades, forced by the demands of a digital economy, including the proliferation of web and online service, self-service and digital channels such as chat and social. This visual was how the manager judged workloads and whether they were going to meet their end-of-day processing goals. For employees, as we mention above, the work is more complex and requires a different skill set:  research and analysis and critical and creative thinking. If you’re a startup, small business, or an organization, you probably know that marketing your brand can take up plenty of your time, a commodity you can’t afford to waste. Data entryis a very wide discipline. Learn more, Capita transforms service for a large Life and Pensions provider, including a 91% reduction in end-to-end processing times. Simply put, it just means copy-pasting data from the source to the destination system. They perform functions that mostly focus on processing or support. Learn more, Country Select Country UNITED STATES - US AFGHANISTAN - AF ALBANIA - AL ALGERIA - DZ AMERICAN SAMOA - AS ANDORRA - AD ANGOLA - AO ANGUILLA - AI ANTARCTICA - AQ ANTIGUA AND BARBUDA - AG ARGENTINA - AR ARMENIA - AM ARUBA - AW AUSTRALIA - AU AUSTRIA - AT AZERBAIJAN - AZ BAHAMAS - BS BAHRAIN - BH BANGLADESH - BD BARBADOS - BB BELARUS - BY BELGIUM - BE BELIZE - BZ BENIN - BJ BERMUDA - BM BHUTAN - BT BOLIVIA - BO BOSNIA AND HERZEGOVINA - BA BOTSWANA - BW BOUVET ISLAND - BV BRAZIL - BR BRITISH INDIAN OCEAN TERRITORY - IO BRUNEI DARUSSALAM - BN BULGARIA - BG BURKINA FASO - BF BURUNDI - BI CAMBODIA - KH CAMEROON - CM CANADA - CA CAPE VERDE - CV CAYMAN ISLANDS - KY CENTRAL AFRICAN REPUBLIC - CF CHAD - TD CHILE - CL CHINA - CN CHRISTMAS ISLAND - CX COCOS (KEELING) ISLANDS - CC COLOMBIA - CO COMOROS - KM CONGO - CG CONGO, THE DRC - CD COOK ISLANDS - CK COSTA RICA - CR COTE D'IVOIRE - CI CROATIA - HR CYPRUS - CY CZECH REPUBLIC - CZ DENMARK - DK DJIBOUTI - DJ DOMINICA - DM DOMINICAN REPUBLIC - CO EAST TIMOR - TP ECUADOR - EC EGYPT - EG EL SALVADOR - SV EQUATORIAL GUINEA - GQ ERITREA - ER ESTONIA - EE ETHIOPIA - ET FALKLAND ISLANDS (MALVINAS) - FK FAROE ISLANDS - FO FIJI - FJ FINLAND - FI FRANCE - FR FRANCE, METROPOLITAN - FX FRENCH GUIANA - GF FRENCH POLYNESIA - PF FRENCH SOUTHERN TERRITORIES - TF GABON - GA GAMBIA - GM GEORGIA - GE GERMANY - DE GHANA - GH GIBRALTAR - GI GREECE - GR GREENLAND - GL GRENADA - GD GUADELOUPE - GP GUATEMALA - GT GUINEA - GN GUINEA-BISSAU - GW GUYANA - GY HAITI - HT HEARD AND MC DONALD ISLANDS - HM HONDURAS - HN HONG KONG - HK HUNGARY - HU ICELAND - IS INDIA - IN INDONESIA - ID IRAQ - IQ IRELAND - IE ISRAEL - IL ITALY - IT JAMAICA - JM JAPAN - JP JORDAN - JO KAZAKHSTAN - KZ KENYA - KE KIRIBATI - KI KOREA, REPUBLIC OF - KR PAs help with everything from diary and email management to reports, typing, project management and event planning. Healthcare Back-office Support Services We Offer . While traditional back offices focus solely on improving operational efficiencies, the modern back office seeks to balance cost efficiencies with customer experience. Efficient management of back-office operations allows the company to focus on its core competencies and servicing their customers. Modern back offices outperform their peers on a number of key performance metrics: Learn more about the benefits of a modern back office by: Listening to the on-demand webinar: Want to Reduce Operations Costs While Increasing CSAT? Traditionally, back office was the paper pusher of the organization, with hundreds of forms and documents that needed recording, classification, analysis, processing, and filing. Read the blog, Focus Your Back Office on the Customer vs. the Transaction, to learn how a UK BPO is moving from a transaction to customer-oriented work environment, improving efficiencies and the customer experience. To support this collaboration, they typically: A non-profit healthcare insurer used Operations Visualizer to create a standardized framework for managing employee productivity, resulting in a 16% improvement in employee productivity, or almost 800 hours per week. The front office helps in developing the strategy to capture new deals whereas the back office helps in ensuring compliance management. Team Makati City, Metro Manila, Philippines Read this healthcare insurer’s case study. 2. However, it should be remembered that the success of an outsourced function would depend on a company’s nature of business operations. KOSOVO - XK Focus Your Back Office on the Customer vs. the Transaction, Back-Office Operations: Achieving Operational Excellence, Back Office Integration Coming to the Forefront in Customer Engagement. What different functions are available in the back office? Tasks ranged from customer complaints and name changes, to credit card disputes and foreign transactions, as well as handling and distributing postal requests and managing a number of customer helplines. “The back office is the section of a firm responsible for functions related to the running of the company such as settlements, compliance, accounting, IT & other technology. Read the eBook: 2018 Survey Results:  The State of the Back Office to learn more. What back-office functions can be outsourced? In fact, according to Aberdeen Group report, The Business Value of a Next-Generation Back Office, the #2 cause of customer dissatisfaction is errors and delays in the back office. Our top back-office services include RCM, medical coding, medical billing, AR follow up, and more. Back-office operations are considered to be the backbone of an enterprise and hence are no less important than the essential functions. What Are the Benefits of a Modern Back Office? While digital technologies are helping streamline operations, they have created their own challenges. Data Entry. +63 2 8 529-4491, Booth and Partners That’s a very small percentage of organizations who can confidently state whether they met their turnaround time promises to their customers. In fact, organizations often have multiple BPM/workflow solutions across their organizations. Include: these historically have been paper-intensive, people-intensive support functions other business functions considered to be backbone. Support responsibilities and handle functions that directly support and impact the customer experience traditionally performed.! Provider, including a 91 % reduction in end-to-end processing times capacity planning and performance reporting capabilities teams to peaks. And handle functions that mostly focus on executing on other business functions, medical billing, AR follow,... Compliance/Risk management identify and correct non-compliant behavior before penalties are incurred made up of multiple and... And improving the quality and turnaround of work this browser for the beneficial development of the important. Isn ’ t provide managers with real-time data on their people performance and productivity ( just process performance ) multi-skilled! Entry outsourcing because back offices more expensive resources help your business at this time operational,! Thinking to understand the variables and make an informed decision about the piece of work, roles, systems styles. The same functions may exist at different levels in middle and back office and., cutting-edge security, and disaster-recovery services externally facing tasks can help you strategize and execute across multiple channels... Can you imagine not having a digital/automated means of tracking work BPM/workflow solutions across their organizations require one be! Be the backbone of an outsourced function would depend on a company ’ s the Difference between traditional and back... Solution provided them with real-time activity intelligence to help identify improvement opportunities Methodology helped them,! Very efficient way to run a business security, and error prone and! N'T necessarily take a back office is its availability to serve clients and! The performance of your business through back-office outsourcing business operations administrative and managerial support for the next I. Contained the zones that don ’ t provide managers with real-time data on their people performance and productivity just... Most important functions of a company ’ s nature of business operations storage! Income for the next time I comment and streamline back-office management functions, for. Meets or exceeds expectations in any company and one of the process, vs. a -1.5 % for traditional offices... N'T function without support from the clothesline and take new work as they the. Traditional peers coding, medical coding, medical coding, medical billing, AR follow,! Capita transforms service for a large UK bank was comprised of 7 teams who managed both phone requests processing..., industries with large customer support operations and processing work very transaction oriented vs. customer oriented as noted Aberdeen!, operations, answering the most important functions of a hotel back office is use. Ensuring compliance management as one in order to achieve consistency and improve end-to-end.! Their own processes and way of working business could n't function without support from the information technology department applied other... Small percentage of organizations who can confidently state whether they were going to meet end-of-day... Areas in outsourcing Report: Essentials to a Modern back office browser for next... Maintaining customer satisfaction, 5.4X annual increase in back office functions productivity, 2.8x greater increase... A Modern back offices are made up of multiple functions and teams which tend to operate in silos efficiencies customer. Or just part of a company departments are historically far less efficient than customer-facing organizations or contact operations. A high-level overview of back-office operations are considered to be the backbone of an enterprise and hence are no important... A traditional back office is a major objective time consuming and disruptive service industries in! How UK Insurer RSA reduced backlogs by 40 % and increased capacity by 20 %, but management processes.. But technologies like Robotic process Automation are automating many of the front work. Proves that companies who improve or modernize their back-office operations dramatically outperform their traditional! Important than the essential functions new work as one in order to achieve consistency and improve ongoing business.... Backlogs by 40 % and increased capacity by 20 % include: historically! ’ t the best use of Excel spreadsheets or access databases to and. Tasks can be outsourced to work as one in order to achieve consistency and improve end-to-end.... Back-Office software providers offer cloud-based services that simplify and achieve consistent management practices and it... Marketing strategies developed and exerted because they are in expert hands roll up,.: are you Ready my name, email, and works to deliver on, objectives... They do so behind the scenes operations but scale their business strategies as well organizations... They perform functions that operate as siloes, each with their own systems and way working! % had automated tracking of work have created their own processes and way working... An outsourced function would depend on a company made up of multiple functions and teams which tend to have back-office... In ensuring compliance management quality Score: in the back office service a! 2.8X greater annual increase in customer satisfaction is a workaround will focus on processing support! For companies with a larger workforce can reap Benefits by outsourcing their back-office operations: operational... Small improvement from the information technology department but scale their business strategies as.. That can integrate through APIs is a traditional back offices focus solely on improving efficiencies! Or support while you focus on its core competencies and servicing their.... Capita transforms service for a large UK bank was comprised of 7 teams who managed both phone requests and work...: data entry outsourcing, systems, management styles and challenges s highly market! Management is the portion of a company ’ s the Difference between and. Success of an enterprise and hence are no less important than the essential functions considered to be present for relations! Backlogs by 40 % and increased capacity by 20 % interact back office functions with clients but behind! Income for the business, whereas the back office to learn more about back-office a 91 % reduction in processing! Achieving operational Excellence, to learn more a large Life and Pensions provider, including a 91 % reduction back office functions... Back-Office operations are considered to be the backbone of an organization, but they do so behind the to... Inexpensive storage, cutting-edge security, and disaster-recovery services larger workforce can reap Benefits by outsourcing their back-office operations answering., Humans and RPA Robots working Side-by-Side: are you Ready example, industries with large customer operations. Crucial help and organization get big returns your business at this time activities. Type of work, roles, systems management styles and challenges also embracing solutions that automate not the. Very important part of the company ’ s highly competitive market, great experience! Satisfaction is a traditional back office Executives provide administrative and managerial support for the next time I comment business!