welcome back to another video from pm problems the site dedicated to project management construction management and workplace topics if you love that stuff too be sure to check out our website at solvepmproblems.com for tons of free articles downloads and more now let's get into today's topic there are countless videos on youtube that talk about business management and marketing while these are important topics there's an extremely important aspect of running any business or organization that doesn't get enough air time and that's administration administration is critical in nearly every industry including healthcare finance construction law and so many more while we can all agree that administration plays a big role in any business's success there are several different areas in which they're particularly helpful let's talk about the importance of office administration and their four key responsibilities but first what is administration office administration is a set of day-to-day activities that are related to financial planning record keeping billing personnel physical distribution and logistics within an organization thank you wikipedia administrative departments are like the heart in the body day in and day out the heart just keeps on ticking other organs are certainly important but the heart never gets a break it's fair to say that an organization cannot function without its administrative staff when someone's out sick for just a couple of days officers can experience a lag in important processes there's just too much to do on a routine basis work will pile up sky high in no time without a staff member there to handle it with that said let's get into four main responsibilities that an administration handles whether it be by phone or in person office administrators are the first people that outsiders interact with when approaching the company when administrators answer the phone they have the ability to stop the caller in their tracks by hanging up when we think about how many calls emails and other solicitations a business receives each day we can begin to imagine just how much this adds up over time this is particularly important when we consider how often businesses get pitched by salespeople from other businesses administrators are also the first people that any outside visitors interact with as such they belong in the mount rushmore of the office all that said answering calls and speaking with visitors is just the tip of the iceberg when it comes to administration payments come in bills and expenses go out this ebb and flow of company money is an experience that every business goes through administrators handle this process from both an accounts payable and accounts receivable perspective in terms of accounts payable administrators process the never-ending flow of invoices from vendors services and other expenses employee payroll is also a process that's constantly running in the background people need to be paid routinely and on time after all tracking the working hours of employees and processing business expenses falls at the hands of the office administrators when we consider the importance of office administration we must also recognize the true lifeblood of the company revenue without revenue there is no business administrators track the receipt of this revenue and watch closely for late missing payments the flow of company money goes through the office administration companies of all types need to ensure that they're operating in compliance with various governing bodies this usually comes with a crap ton of paperwork and forms complying with rules related to taxes payroll social security banking client needs and specific rules related to the businesses being run are just a few examples whether it be related to forms reports key information or any other number of things office administrators are probably handling it failing to comply with a governing organization can result in fines penalties and the possibility of the company closing its doors for good office administrators play a critical role in keeping the company on track in regards to various regulations a well-run office is always going to be organized organization is essential to the success of an individual employee and an entire company alike so who's in charge of the overall organization of an office you guessed it the office administration when it comes to organizing company information the importance of office administration cannot be stressed enough not only to critical processes like accounting payroll and compliance require finely tuned organization but the sheer volume of paperwork can be astounding it takes time and effort to keep all that wild paper tame this counts double when it comes to modern time given that so many documents are also exchanged digitally a company can be audited at any time the organization and accuracy of essential files will ultimately determine how smoothly this process goes and how quickly it's over when an emergency takes place the last thing anyone wants to do is scramble through stacks of messy disorganized files in fact having to do so will make the whole situation a lot worse sloppy files create confusion and invite the opportunity for mistakes to waltz in the front door a well-run company requires a well-run administration to mitigate these risks and that's why administration is critical to the success of so many businesses i hope you've enjoyed this video and found it informative for more content like this be sure to like and subscribe to stay in touch you can also head over to our website at solve pmproblems.com for tons of free articles downloads and more simply click the link in the description below until next time this is pm problems