Back Office Support - There When You Need It!

 

Back Office Support - There When You Need It!

Back office support is the part of a business which is responsible for running the business rather than actually working with customers. It does not require direct interaction with customers and can be performed more efficiently and effectively offsite. Examples are account origination for new customers, mortgage, account servicing, and personal loan approval and succession management, exception management, and specific processes for small and medium sized business (SMB) customers. It is just opposite of front office work, it refers to the direct moneymaking part of a company.

It provide a range of non-core, corporate services, usually at a distance. Customer services, routine administrative tasks, and technical support functions are some examples of back office operations.

IMPORTANCE OF BACK OFFICE-

1. Benefits include standardization of processes across regions, reduced processing cycle times, improved quality of service to customers and improved visibility into the status of requests for front office and customers.

2. Back office services support the entire lifecycle of client's customers, help in reducing costs and increase operational efficiencies and provide corporate services.

3. Back office services involve extensive human and system interactions. It also reduces training time.

4. Back office processes do not want investment on infrastructure and machines, and no recurring costs on other accessories such as fax, phone etc.

5. Firms can scale up exponentially to respond to changing regulatory requirements with minimal disruption and exploit product launches.

6. Back office service optimization provides better insight into employees, and the forecasting, scheduling and tracking flexibility needed to reduce the number of staff required to meet business destinations.

7. It gives free time outside of work and a stress free life. Also it helps in making networks. The people who works in Back offices, they come in contact with various people and get to know each other.

Back office services not only improves customer service,it also enables retail banks to standardize operations across channels and operate more efficiently. In back office processes, Statements are separately processed from personalized marketing campaigns that makes perfect sense at the operational level.

Some back office services include-

· Order/Sales support

· Data entry and form filling

· Email management

· Payment processing

· Survey

· Marketing etc.

Hence Back office Support is essential for a company and to make the functioning more smooth and feasible, it is advised to outsource these services and obtain better results while saving both time and effort.

 

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