Study: Small Companies are Spending 120 Working Days Per Year on Bookkeeping and Administration

Posted by Author 4 months ago

Starting small has its certain ups and downs.

 

One of the common problems of small companies is having a small team due to budget constraints or space allocation. The lack of manpower often gives a certain employee more roles and tasks than agreed upon. An example is having a writer to also perform all the QA tasks, which could have been more efficient if there was a separate fresh pair of eyes to proofread.

 

In a contact centre setting, if there is a lack of manpower, then agents will focus on other tasks as well. Instead of spending most of their time calling customers or answering to questions and problems, they will need to invest their time in administrative tasks and bookkeeping. And according to an economic report by Sage, small companies spend an average of 120 working days in administrative tasks and bookkeeping.

 

The study revolved around different markets in different countries, such as the United States, Australia, Brazil, Canada, France, Germany, Ireland, Singapore, South Africa, Spain and the United Kingdom. In total, Sage has more than three million small and medium business clients in 23 countries, which already includes the mentioned countries.

 

In the United States, the most administrative task done by SMEs is accounting, which is occupying nearly a quarter of administrative tasks, while HR and recruitment is considered having a lower burden.

 

Meanwhile, in Australia and New Zealand, both are wasting AU$56 billion per year due to the time consumed on administrative tasks. The Workforce Institute at Kronos Incorporated and Coleman Parkes Research revealed that non-essential tasks are taking up employees’ time, thus impacting their productivity and producing an average of AU$3,900 worth of losses per year.

 

Administrative tasks are a part of the everyday life of a contact centre agent. However, this should not occupy most of their time since administrative tasks and bookkeeping can eat up the time allocated to tasks that they specialise in. For small businesses that have problems in the burden of administrative tasks, choose a contact centre outsourcing that is updated with up-to-date technology to ease the burden of such tasks, this giving more focus on calling prospects and being able to deliver better customer service.