Boring Back-Office Management Without a Hassle

A Complete Guide on Correct Back-Office Management
Enty is building a solution that will change back-office management forever. It's simple: you purchase a single subscription and manage all back-office processes under one roof. While our solution is still in development, we would like to offer you several tips that will help you automate back-office processes yourself until Enty is launched.
Enty is building a solution that will change back-office management forever. It's simple: you purchase a single subscription and manage all back-office processes under one roof. While our solution is still in development, we would like to offer you several tips that will help you automate back-office processes yourself until Enty is launched.

What is Back-Office?

The back-office is the portion of a company made up of administration and support personnel who are not client-facing. Back-office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services. For example, a financial services firm is segmented into three parts: the front-office (e.g., sales, marketing, and customer support), the middle-office (risk management), and the back-office (administrative and support services).
The back-office is the portion of a company made up of administration and support personnel who are not client-facing. Back-office functions include settlements, clearances, record maintenance, regulatory compliance, accounting, and IT services. For example, a financial services firm is segmented into three parts: the front-office (e.g., sales, marketing, and customer support), the middle-office (risk management), and the back-office (administrative and support services).

Three Main Back-Office Areas

Back-office includes over 10 different areas of companies' activities. But for simplicity, we can divide them into 3 major ones:

Management Accounting
Track how your company spends funds
and determine your savings

Recruitment
How to properly formalize working relations between employees and your company

Contracts and Agreements
How to create contracts with customers
and counterparties without legal mistakes
Tax Reporting
How to count and pay taxes
correctly and avoid unexpected mistakes
Payroll
Correct payroll management regarding payments and paperwork
Corporate Management
All corporate issues that your company might face starting from incorporation
Accounting
What is accounting and why is it vitally
important for a company and authorities
Transfer of Intellectual Property
How to properly transfer rights on
intellectual property
Other Legal Issues
Other types of issues and how to
streamline company management

Three Main Back-Office Areas

Back-office includes over 10 different areas of companies' activities. But for simplicity, we can divide them into 3 major ones:
Financial Management
Management accounting
Track how your company spends funds

Tax reporting
How to count and pay taxes correctly

Accounting
What is accounting and why is it vitally important for a company and authorities

HR Automation
Recruitment
How to properly formalize working relations between employees and your company

Payroll
Correct payroll management regarding payments and paperwork

Transfer of intellectual property
How to properly transfer rights on intellectual property
Legal Issues
Contracts and agreements
How to create contracts with customers and counterparties without legal mistakes

Corporate Management
All corporate issues that your company might face, starting from company incorporation and shareholder relations.

Other Legal issues
Other types of issues and how to streamline company management
Financial Management
Up to 35%
more efficient administrative
tasks after automation


Up to 45% of a day
managers spend on gathering
data and doing analytics


More than 80 hours per year one of three small
businesses spends on federal taxes


40% of small business owners state that bookkeeping
and taxes are the worst part of
business-owning


£3,937 spends an average
British startup in its first year on accounting

No company performs well without accurate financial management that is the vitally important part of all back-office performance. Financial management is an in-depth process consisting of a great number of operations such as accounting, tax reporting, management accounting, and more.

So, you can imagine how much labor and financial resources each company spends on it. A company is required to create a lot of different documents starting from a bunch of invoices ending with tax deduction papers. Moreover, many of these docs are created by accountants manually without any sign of automation. Here you may think that financial management is another bureaucratic procedure that is just hampering a company's development and needed only by the authorities. But you can always benefit from it!

Despite the mentioned complexities, you should make financial management your company's best friend. All financial metrics and statistics that you're collecting during the accounting process help your business perform well. It is a great opportunity to constantly track the conditions of your company's economy and change business processes if needed.

Management accounting
For instance, management accounting helps you determine the company's savings for now and for tomorrow, plan your business revenue and expenses more accurately for months to come. It also gives you a real picture of the financial state of your company from the bird's-eye view that helps you avoid a probable cash gap situation.

Accounting and Tax Reporting
In addition, bookkeeping is a report reflecting all facts of the company's financial performance required by the authorities to track the country's economic achievements and monitor corporate compliance with relevant law. Accounting is a highly regulated and formalized process, and all you need to know about it is to keep reporting correctly and in time. Tax reporting is the same operation with the same tools but only on the matter of taxation.

Importance of the invoices
Note that invoices are among the most important financial documents for your business, and for correct accounting and bookkeeping in particular. They help you keep all details of your sales and transactions, data about your customers. Based on this information, you can track your actions and the company's performance better right after the sales are completed.
Solutions and Pricing
Financial Management
HR Automation
17% of small businesses
commit 6-10 hours per month
on payroll


Only 39% of organizations
use a cloud-based payroll systems

74% of companies
plan to increase spendings on HR automation

Up to 80% of costs
are reduced by payroll automation

Only 6% of companies
states they already use the
process of automation in their
payroll processes


35% of the time
dedicates an average HR team
to payroll and error correction

No company operates without people — that's why founders pay close attention to the department of recruitment. Many people consider the HR team to have dolce vita: all their work is just about finding new staff and keep employees' well-being at place.

However, HR is a much more complex part of the company's performance — the HR team covers a ton of issues linked not only with staff but with regulation as well. Firstly, HR is about recruitment and onboarding that are connected processes of the initial organizational phase in each company.

Also, HR is in charge of correct salary payments and document workflow on this matter. This in-depth process is named payroll and includes tracking employees' working hours, calculating social taxes, net salary, and ultimately distributing payments. Another legal issue is a proper transfer of rights on employees' intellectual property, and many others.

Mainly, HR teams waste long hours per week on manual correction of multiple mistakes in payrolls and other documents. Without automation and cloud-based payroll systems, recruitment teams waste precious resources in vain. Nowadays, repetitive tasks of the HR teams may be automated with modern technologies, and that can lead to significant savings.
Solutions and Pricing
HR Automation
Legal Issues
£6,259 spends an average
British startup in its first year
on legal fees


0.44% of revenues is the
average total legal spend


19 team members
is an average small company's
(<$1B) legal department
headcount


18 minutes
professionals spend to locate
each document


65% of companies
use a contract management
system

Legal issues are extremely diverse and in some way affect every employee. Each business has to create dozens of documents day by day — contracts, agreements, reports, certificates. All of it!

First, let's observe complex corporate management that consists of a great number of issues arising right from the start. Company incorporation, the addition of new shareholders, changes in corporate docs — is just a tip of a huge legal iceberg. And these corporate management processes never stop.

Every week you can spend hours seeking, customizing, and completing needed contracts or agreements that are tied to all business processes. Everything is done manually, mostly without any automation and cloud-based solutions. And all of this paper mess happens whilst the role of corporate legal operations is growing in prevalence.

Fortunately, modern companies try to focus on technologies that improve the transparency of data management, quality, and consistency of document workflow. In order to prevent spending millions on the swollen legal team, founders are eager to make contract management more customizable and automated.
Solutions and Pricing
Legal
What's the Main Issue with Back-office Management?
The answer is simple: no solution allows to manage of all of these processes as a whole. A complete solution with seamlessly integrated services — that's exactly what we're developing right now. But why it's so important? Well, let's take a closer look at the next section.
Overwhelmed by Back-Office Processes?
Join Enty and focus on truly important things, while we take care of your back-office

Join Enty now to get rid of overwhelming back-office issues!