Outsourcing solves Covid issues for in-house operations

We process donations and other accounts receivables for clients with high transaction volumes. Since Covid started, the cost of compliance and providing a safe environment has skyrocketed. Simple fact; people sitting 6 feet apart take up a lot more office space. Add PPE such as screens, increased cleaning regimens, masks and even working from home add another level to personnel expense and overhead.

If I downsize or sublet my space, will I be able to rebuild my infrastructure post Covid?

The arguments against outsourcing have included:

1. Our staff can do it cheaper (and they are here anyway)
2. You don’t know our business
3. We have always done it this way

Looking at the new reality post Covid, having staff means a per head increase in costs for PPE, you need at least twice as much space to house them, and many may have left and will not return. With your office infrastructure and business procedures already in turmoil, now is the time to revisit outsourcing as a very viable option.

Outsourcing benefits typically cited in the past include:

1. No employee overhead
2. Professional, secure state of the art services are rented, not bought (pay as you play)
3. It frees up space and overhead
4. You dictate the service levels appropriate for your activities

In looking at the pros and cons, it is easy to see that shifting from an in-office and at-home work cohort can tilt the arguments dramatically. However, it is more than bums in chairs; it’s also about the need for their at-home systems to mimic the security and access controls you have in the office.

Concerns

1. Will I be sued?
2. If systems are compromised, will my insurance pay?
3. If my employees are hacked, what if my clients’ credit card or other private data are breached?
4. Are my employees and their home networks keeping compliant with necessary industry audits and standards?
5. Do my employees have the necessary firewalls, backups and access controls to protect my data?
6. Are my corporate data secure?

Let’s be frank, few companies have the policies in place, the systems knowledge, and the money to be entirely prepared for a data breach, a ransom attack or the public scrutiny that would be attached to the admission of a security breach; a privacy breach…. or worse yet – a credit card data breach. Credit card processing and secure storage of that data is imperative. If you process, hold or store credit card data your clients may require that you have an annual audit certifying that your systems are compliant with the standards published by the Payment Card Industry (PCI). These audits can add thousands to infrastructure overhead, and when data or access leave the safe umbrella of your office and secure systems…. well you get the idea.

If you are not certified as PCI compliant, your ability to take payments with credit cards is at risk. Now is the time to re-evaluate your options.

Covid has cost businesses billions of dollars, and restoring your operations will cost even more. Stop the bleeding, call HKA Data to find out how to save money, insure against data breach risk and get back to doing what you do best – run your business.