Getting other parties to sort out certain business aspects could save on bottom line costs.
Small businesses that decide to cut costs by outsourcing certain aspects of their company may wish to invest in document scanning services to free up space in their office.
Martyn Hart, chair of the National Outsourcing Association, said doing things like the company’s payroll in-house is time consuming and resource intensive, so getting a third party involved may save on bottom line costs.
"To do it in-house means employing someone, or someone taking time out of their other duties in order to calculate and disseminate the monthly wages. How many small businesses can afford either of those options? You need your people wholly engaged in revenue generating activities – this can be the difference between survival and collapse," he pointed out.
"Outsourcing to a specialist company [means it can be done] quicker and cheaper, with no upfront investment in software and none of the complications of staying abreast of evolving legislation," Mr Hart commented.
"Mistakes in this area can prove expensive, resulting in devastating fines and hamstrung cash flow down the line."
Firms can also outsource their document storage to other companies if they want to downsize their office in order to save money on commercial rent.
Research from insolvency trade body R3 has found that the weekend just gone (March 26th) marked the deadline for quarterly rent payments, which means many businesses will be feeling the pinch today.
With video games retailer Game filing a notice of intent to appoint an administrator while facing a £21 million rent bill, many other businesses will want to save as much money as possible on their rented commercial properties, meaning secure document storage at offsite locations could be the ideal way to get rid of paperwork cluttering up prime office space.