A word from Bula Outsourcing
Bula Outsourcing is helping brokers and businesses scale with confidence by delivering tailored support solutions that drive growth and efficiency. With over 70 years of combined experience across banking and financial services, both in Australia and abroad, Bula’s team is well versed in the demands of residential and commercial lending and is equipped to meet the needs of broker businesses, large and small.
From lead generation to virtual assistance, Bula Outsourcing provides strategic outsourcing solutions that free up valuable time and resources, allowing clients to focus on core operations. Whether you’re a growing brokerage or a larger enterprise, Bula Outsourcing’s tech-enabled, people-first model ensures you get the support you need, when you need it – all backed by a trusted, experienced team.
At some point, every business owner has to think about recruitment, whether they’re struggling to keep up with the number of clients coming through the door, sick of being behind on their admin, or simply hoping to free up time for more high-value tasks. While most time-poor brokers who have reached this point will recognise the need to do something, exactly what they should be doing is sometimes less clear.
For instance, the recruitment needs of a solo operator are vastly different to those of a multi-franchise owner opening a new store, even if both brokers seem just as busy. And bringing another loan writer into the business isn’t the only solution.
In many cases, particularly for the majority of the industry who are either a sole (42 per cent) or dual (14 per cent) operator (according to Mortgage and Finance Association of Australia [MFAA]), a delegation service can prove just as effective. Particularly if partnering with an outsourcing provider that knows the industry well, such as Bula Outsourcing, an outsourcing specialist co-founded by industry veteran Clive Kirkpatrick.
Josie Prasad, managing director and CEO at the Fiji-based outsourcing provider, says outsourcing can help shift the burden of time-consuming tasks that don’t require a broker’s specialised skills.
This might include the time-consuming tasks of admin, compliance support, and data entry. “This allows brokers to stay focused on their core priorities: nurturing relationships, converting leads, and growing their business,” she says. “With our team managing the back-office load, turnaround times improve, client service becomes more consistent, and brokers can finally reclaim their time and reduce burnout.”
Precious time
Delegation isn’t a new concept to the broking industry. More than a quarter (26 per cent) of brokers surveyed in a recent study by tech provider NextGen said they had now outsourced their loan processing, with larger firms almost twice as likely to delegate tasks compared to the smaller operations. The report also noted the growing emergence of support roles, such as client service managers and parabrokers, allowing brokerages to “scale without compromising service quality”.
Rachael Howlett, finance strategist and broker at Infinity Group Coaching, says outsourcing has helped her business deal with the administrative burden that came with rapid growth.
“When we did have that quite big growth quite quickly, I found myself buried in those backend tasks which were holding me back from doing what I do best, which is building relationships and delivering strategic financial guidance to my clients,” she says. Bringing in an offshore team member from Bula Outsourcing was a turning point, she tells The Adviser.
“They’ve been able to handle some of that critical behind-the-scenes work, which is your data entry, compliance tracking, following up on supporting documents, keeping our CRM up to date, liaising with lenders and getting updates on our applications,” she says. “These were the bottlenecks that slowed down client service on the front end and business growth. By freeing up this space, I can now focus entirely on crafting strategies for clients.”
The extra pair of hands has also led to a noticeable shift in her day-to-day role. “We’ve shifted from constantly firefighting admin to running a more strategic, high-performance operation, where our strategists or our brokers can solely focus on what they do best with the clients, with our face-to-face interactions and building those strategies,” she says.
“So my day now is no longer consumed with manual tasks. Instead, I can just plan ahead, deepen client relationships and deliver that white-cloth service Infinity is known for.”
Prasad adds that Bula Outsourcing strives to position its service as a premium offering that also affords the brokerages it works with a degree of long-term consistency. “Staff turnover and inconsistent performance are huge challenges in-house. Our model is designed for long-term consistency,” she says. “We handle recruitment, training, and performance management so that you’re not constantly hiring or retraining. Our staff work the same hours as your team, from a secure, professionally managed facility. “You get consistent output, fewer disruptions, and peace of mind – while we handle the people and process side of things.”
Choosing the right help
So, what is the best way for brokers to tell the difference between a situation where they need to bring a new – and potentially expensive – loan writer into the building, or one where they’d simply benefit from delegation and some support? A frank conversation is a good place to start, says Prasad.
“Start with a conversation. You don’t need to outsource your whole business – many brokers begin with just one admin or VA,” she says. “Talk to us about your current pain points, and we’ll map out a simple plan that’s right for your business. Our onboarding process is guided and supportive, so you won’t feel overwhelmed. “The biggest risk isn’t outsourcing – it’s waiting too long to take pressure off your plate.”
Melissa Gielnik, managing director at Smart Lending, agrees that starting small can be an effective way forward – but says preparation and structure are essential. Speaking to The Adviser for its Elite Broker podcast, she says she recommends documenting processes before hiring, so new team members know exactly what is expected from day one.
Start with a conversation. You don’t need to outsource your whole business— many brokers begin with just one admin or VA
- Josie Prasad, managing director and CEO, Bula Outsourcing
“Have a process. You need to document what you want them to do. There’s no point hiring someone and then saying, ‘Right, what are we going to teach you today?’” she says.
She also stresses the importance of training and empowering staff – whether onshore or offshore – to take ownership of their role.
“They’re only as good as you train them to be,” she says, noting that her offshore staff handle retention, valuations, pricing, data entry, and document collection – freeing brokers to focus on clients.
“Every step of the process is important. If they don’t do their part, I can’t do mine.”
Culture is also an important part of succeeding in outsourcing, she says. Daily team check-ins, casual chats, and genuine interest in offshore staff’s lives have helped build loyalty and engagement for the Smart Lending offshore team. Howlett also advises against waiting too long to seek out help.
“Don’t wait until the moment you need it. You’ve got to start earlier than you think you do. At Infinity, we approach outsourcing as more of a long-term strategy, just not a quick fix in a moment where we were buried in work,” she says.
“We mapped out exactly what tasks could be delegated, and treated our outsource team members as a genuine extension of the Infinity brand and the team, and we fully integrated them into our processes that we’ve built, and, of course, our culture.”
She says partnering with Bula Outsourcing has been transformative. “For any broker looking to grow sustainably, protect their time and deliver top-tier client service, outsourcing is definitely one of the smartest investments they can make,” she says. When done right, outsourcing can be more than just an extra pair of hands. “If you’re a broker looking to grow, scale, or simply create breathing room in your day, outsourcing isn’t a luxury – it’s a smart move,” Prasad says.
