The insolvency process is not a simple procedure, and a lot of work has to be done in time. From lead qualification to document processing, the process is very long and involves several monotonous tasks requiring a large team to manage the workload.

This is why many UK insolvency practitioners outsource their back-office insolvency work to countries like India. It helps them to save time and cost; therefore, they can focus more on clients and other core business activities.


BACK OFFICE WORK OUTSOURCING FOR INSOLVENCY PRACTITIONERS

Advantages of outsourcing back-office insolvency work to India:

Many global companies are choosing India as their preferred BPO location to outsource because of the great benefits India has to offer:

Affordable scalability:

Outsourcing services enable insolvency practitioners to quickly scale up without the capital expense and admin of onboarding and training new staff.

Save infrastructure costs:

Lots of Infrastructure costs will be reduced, like the cost of systems, electricity bills, bonuses, basic infrastructure, office space rent, maintenance, etc.

Low labour costs:

Labour costs in India are significantly lower than in the UK. So, an insolvency firm can save a large number of costs by outsourcing back-office work to India.

Get access to expert professionals:

Outsourcing is trending; many companies worldwide outsource their insolvency and other legal administration work to India. So, you will often find a staff who already has a basic knowledge of the subject and is already doing or has done similar work in the past. Thus, you have an excellent opportunity to get expert and experienced staff at a much lower rate than the one you hire in the UK.

Time Zone Difference: 

This is the significant benefit of outsourcing to India. For any urgent work, you can assign it before leaving for the day, and it is ready when you come back to work the next day.

Increase profit margins:

As you save on hiring staff and training costs, you can add those funds to investing in capital or expand profits with better margins.

There is more competition in the market for insolvency practices. You can focus on core business activities to bring more clients by outsourcing back-office admin work. Let's outsource your back-office work and be stress-free. Click here, if you want fixed fee services for MVLs and CVLs. 

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