Importance of Efficiency During the Pandemic
A lot of businesses suffers from the pandemic and had to look for ways to increase efficiency to survive this trying time. Due to restrictions, the public becomes reluctant to engage in social activities. People no longer visit public facilities and choose to stay at home, living more frugally. Money circulation in the economy slows down along with the decline of products and services demand. Companies suffer enormous loss from the lack of customers and are either forced to change their business model or file for bankruptcy.
To reduce losses, companies must find ways to increase efficiency. Efficiency in a business becomes the key for companies to survive.
Ways to Increase Efficiency
There are various ways to streamline operational costs to increase efficiency. Operational costs consist of different components; marketing costs, pantry costs, office maintenance and utility fee, employee salary, and others. Most companies spend more budgets on marketing. Therefore, when there is a need to streamline cost, naturally entrepreneurs would go for the marketing budget. However, it is worth remembering that marketing costs is directly related to potential profit. Draining the marketing budget may severely impact the company profit.
To avoid that, it is advisable for companies to save on office costs instead. This is especially true for companies that rents a whole office unit or a shophouse to operate. These companies must bear various costs like maintenance costs, service fee, utility fee, and setup fee. Therefore, when the business is not doing well, those costs will be problematic. Maintaining the office facility is also troublesome. Not only the cost, but the entrepreneur must also make an effort to call the repairman and supervise the work.
To avoid all the troubles, companies are recommended to move to a private office/ serviced office or virtual office instead. A private office is a fully furnished office suite that normally fits 3- 6 people. The office facilities included are high-speed internet access, an IP Phone unit, and a dedicated telephone number. Renting an office suite also includes various office services. These facilities and services can help companies to increase the efficiency of the company.
Beneficial Services in Private Office
As mentioned above, the services in a private office can help to increase efficiency in a company. The functions of these services fulfil certain roles in a company, allowing companies to have a smaller team member as well. Smaller team members make it easier to manage and will incur smaller fees. Here is a list of the services provided at a private office:
- The main function of a receptionist is to greet incoming visitors or clients. They will also handle calls and forward them to the designated extension number. Receptionists are also responsible for mails and package handlings of their clients. Moreover, if the clients are expecting business partners to meet, receptionists will be there to guide them.
- The cleaners will make sure the office suite is hygienic and the facilities are ready to use. Cleaners are responsible to clean the whole office area daily and sanitize the facilities as well. If clients need help with picking up ordered food or goods, they can also ask the cleaners team for assistance. During meetings, the client does not have to bother with self-service beverages. The cleaner team will be there to assist them.
- The good condition of facilities, satisfactory services, and comfort in the office is the responsibility of a manager. Any discomfort or needs can always be informed to the manager to get it solved. Clients can also suggest ideas to improve the office to the managers. Managers are there to ensure clients are satisfied.
- When needing various advice and services in regards to legal, the legal team is there to help. They can assist with the permit application, company incorporations, and other legal documents applications. The legal team are also able to provide legal consultations.
Accounting and Tax Team
- For assistance in accounting and tax consulting and services, clients can reach out to the accounting and tax team. The team is able to provide consultation regarding the matter. They can also assist with financial reports preparation, tax calculation, as well as tax reporting.
The above-mentioned services and facilities are all included with renting a private office, hence making the private office a much more cost-efficient and worthy option. A company that uses private office service does not need to spend a lot of money, time, and effort to set up the company. The private office has included all the facilities needed to run an office and additional services to support their businesses.