The back office in an investment bank might encompass departments like I.T., operations, HR, accounting and compliance. Back office is any department or team in a firm that doesn't directly interact with the customer. Focused on Customer Service Excellence. The back office typically supports, and works to deliver on, the objectives and promises of the front office team. Back-office functions are so broad that operations staff typically specialise in only one of these areas. The back office is comprised of the areas that don’t directly generate revenue for the business, but provide vital support and administration. They perform functions that mostly focus on processing or support. Although the operations of a back office are not considered strategic, they are critical to business success. Find more similar words at wordhippo.com! Building upon 25 years of account management experience, TransCore has installed more than 35 back office solutions and currently operates eight customer service centers. That’s where we come in. They will handle mobile and ATM deposits, order and reissue debit and credit cards, and perform wire transfers and check adjustment duties. The Back-Office Operations Specialist will perform a wide range of operational, accounting, and card services duties, including daily processing of ACH, in-clearing checks, and bill payment files. Back office functions may include compliance, operations support, records, clearance, finance, and IT services, etc. Middle-office and back-office outsourcing services Increase efficiency, reduce costs by outsourcing your operations. Managing over $2 billion in annual toll revenues. The term is most commonly used in the banking industry but is applied to other industries as well. Back Office Operations . Synonyms for back office include admin, administration, behind the scenes, non-public facing, operations and support. Typical functions include settlement of securities and derivatives including FX and commodities, reconciliations, issuance of new securities through Initial Public … Back Office Operations Many back office tasks are integral to core business process of a company. The following are common examples of back office functions. Back Office Operations. In order to outsource them, one must be able to certitude that these tasks will be performed not only more efficiently or at a lower cost, but also with the highest level of quality than they have been performed in … As an investment management company, your goal is to generate returns for your clients, and revenue for your organization. A functioning middle- and back-office plays a crucial role in achieving those objectives. Every hour you spend on your staffing agency back office operations is an hour you could have spent finding quality candidates or growing your business. The back office is the non-customer facing, operational areas of a company. Request a Consultation Apply for Funding. Back office departments are historically far less efficient than customer-facing organizations or contact center operations. Some generic back-office functions include: , clearance, finance, and IT services, etc managing over $ 2 in. To generate returns for your organization 2 billion in annual toll revenues as an bank... Following are common examples of back office include admin, administration, behind the scenes, non-public facing, support. Hr, accounting and compliance, reduce costs by outsourcing your operations operations... Mostly focus on processing or support other industries as well far less than! By outsourcing your operations over $ 2 billion in annual toll revenues and revenue for your clients and... 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