Back Office is a term that refers to a variety of administrative functions that a factoring company will take over for a client because they are able to achieve economies of scale and drive down costs by doing so. In the case of a staffing company, the factoring company might do the invoicing, payroll, tax remittances, credit work, provide software to run their business and collect on the invoices. Outsourcing back office functions allows a business owner to stay focused on selling and revenue producing activities that help them grow their bottom line.
