If you run your business entirely from you main office, with staff members trained to undertake tasks ranging from bookkeeping to IT management as well as their roles within the company, you will know that whenever there is a need to retrain or upgrade systems, it can be a hassle that hinders productivity. However, as technological innovation continues to take place, causing exponential growth in cross border activity, outsourcing of back office services has also witnessed a take-off. In this article we will focus on Argentina, the country in which we are based, imparting some knowledge of the outsourcing industry for four main sectors, translation, regulatory compliance, financial services and also IT. It is known that Latin America is paving the innovative pathway for the rest of the world in numerous industries, and Argentina is one of the best countries in the region to experience it.
So, why Argentina? For businesses the world over who find themselves looking to expand abroad, it is important to establish in a beneficial location in which operations will merge seamlessly with those already in existence. Therefore, Argentina, a nation with a US$400 billion GDP, making it one of the largest in Latin America, is immediately an attractive choice. Not only this, but for European and North American companies, in a country where the majority of the population having extremely high English proficiency, there is no obvious language barrier that would affect the running of business operations, which when combined with the time difference (which is two hours ahead of the US East Coast and three hours behind GMT), there is no drastic difference which could render communications difficult.
Translation
Having already touched upon the bilingual proficiency seen in Argentina, it seems obvious that if your business operates in both English and Spanish speaking countries, translation is going to be necessary. Therefore, looking to the Latin American nation seems like a no-brainer, relieving a necessity to translate and edit documents in house, while also increasing work output. Tying in with the increasing global cross-border connections with Latin America is an increase in freelance and remote work, allowing translators to work increasingly flexibly and therefore making them more accessible than ever before, providing you with a reliable, yet also high-quality service.
Regulatory compliance
Although outsourced translation services can be made use of from your business headquarters, perhaps you also want to expand your actual business overseas as well. In this case, it is extremely important that you abide by all of the necessary rules and regulations, which are quite possibly different to those in your current country of residence. In this instance, regulatory compliance knowledge and services are best found in the country you are expanding into, and in Argentina, corporate lawyers (we published an article recently on how to find the perfect corporate lawyer for your business), can be contracted in order to ensure your corporation does not fly under the radar by missing a rule update, for example. You will know that adaptability is key in business, and by using back office services for this reason, you will not have to allocate so much time to regulation monitoring and modifying business plans.
Financial services
Sometimes, using outside corporations to do your bookkeeping (accounting and taxes), can provide a useful external perspective for your business, allowing analysis to be undertaken that identifies strengths and weaknesses you would not necessarily otherwise have found. Much the same as corporate regulations, taxation laws vary from country to country, and by having a third party undertake accounting and taxation services for you, using their knowledge of the country in which they are established, often with many years of experience, there is a far reduced risk of any mismanagement or mistakes in general. By outsourcing these bookkeeping services in Argentina, you are also likely so save (and generate) more money. This is down to no longer needing to train staff on these procedures, saving time and leaving more timetabled hours for work, increasing revenue and decreasing stress!
IT services
As has been previously mentioned, one of the main Latin American industries that has seen a boom in recent years in terms of innovation and development is technology. It has to be said that with such a vast array of technological opportunities in the region, there is no better place to outsource to. Building websites and or user platforms is a task far greater than can be given to someone who is not qualified in IT, further propelling the Argentine technology market into the spotlight. With over 70,000 students enrolled in the 243 IT degrees on offer in Argentina, there is as abundance of opportunity and with that many prospective students, there will be a necessity for work, and your business will benefit from the high quantity and level of talent in the country.
So, if you are looking to expand your business or simply outsource some operations, the back-office services on offer in Argentina are of a world-class level, and at Creimerman, we would love to have the opportunity to assist your business. We are a team of global citizens, experienced in cross-border activities, and as we are based here in Buenos Aires, we can impart knowledge of the market to you and help your business take its next step.