Increase Work Productivity Fast Using Virtual Assistant Services
Since 2007, businesses have taken notice of the importance of integrating virtual assistant services into the development program. 2007 was a watershed year because the global economies went on a downward spiral after equities markets worldwide collapsed. Several people were laid-off, unemployment rates were rampant and businesses worldwide collapsed. Companies were forced to retrench and conceptualize options that would allow them to streamline costs without affecting revenue targets.
Outsourcing solutions became a constant fixture in the strategy toolbox as more companies capitalized on lower costs of business and economies of scale prevalent in countries like the Philippines and India.
Companies began to massively outsource departments to remote locations beginning 2007. As proof of the growth of the global outsourcing industry, in 2007 the global outsourced services market size was estimated at US$77 Billion. In 2014, the estimate rose to US$104.6 Billion. Through outsourcing, companies were able to streamline costs by an average of 40% and continue to stay on course their revenue generation programs.
Congruent with the corporate strategy to outsource non-core departments, business also outsourced both non-essential tasks and technical, highly-specialized tasks to virtual assistants.
Virtual assistants or VA’s are people who are contracted to render clerical, technical and creative services to clients from a remote location. The scope of work of the VA has evolved with the growth of technology and the globalization of the business environment. Virtual assistants are no longer just tasked to provide secretarial or personal assistant services. Today, virtual assistants are hired to manage more specialized services such as:
- Human Resources / Recruitment
- Information Technology systems management
- Market research
- Transcription services
- Legal research
- Real estate CRM services
- Medical Billing
- Medical Coding services
- Digital Marketing
By incorporating virtual assistant services, companies are able to acquire the services of people with the experience, competence and required technical skills to manage more specialized work without compromising their budgets. A company improves its levels of productivity in two ways by implementing virtual assistant solutions:
Re-alignment of resources
By outsourcing select services and departments a company can repurpose or re-align two important assets. Additional funding sources as a result of cost savings can be channeled to support activities that directly contribute to the company’s revenue generating programs. These programs may involve direct marketing and promotional activities, product development, research and development and human resources optimization. The additional cost savings could be used to upgrade facilities and improve production. Second, the company will now be able to re-align more time to focus on its main enterprise or core activities. For small business owners, having a VA on board frees up more time for items that need to be attended to immediately.
Improve quality of work and services
A Virtual Assistant is not a full-time employee. They are paid only on productive hours rendered. Each hour logged in by the VA meets a specific purpose or task. A regular office worker is paid a fixed monthly salary plus benefits. A study by personal development coach Steve Pavlina revealed that the average office worker only spends 90 productive minutes at work. The rest of his or her time is spent reading newspapers, surfing the net, taking extended coffee breaks and chatting with co-workers at the water cooler. Virtual assistants are focused on completing tasks because their scope of work is defined by milestones or targets. In the four hours a Virtual Assistant is at work, he or she can generate more productivity at less cost than a regular office worker.
Businesses of all sizes and industries will benefit greatly by adapting virtual assistant services. It is a strategy that addresses both variables of the profitability equation: cost and revenue and enhances the productivity of the enterprise.