How to build a better business through outsourcing
You may be involved in a business, whether small or large it would have many tasks to be completed on a daily or weekly basis. Of these tasks, several may be repetitive and can easily be outsourced to another firm so that you can focus on the core areas of your business. The question regarding the cost may arise in your minds, and it is a legitimate one too. However, the truth of the matter is that you will save on costs and time, rather than end up spending, in the process of outsourcing your business to a third party.
In the course of the past 10 years outsourcing has grown in leaps and bounds with over 3 million jobs being outsourced. Outsourcing is no longer considered the domain of large companies, and with the advent of modern technology even medium and small businesses are able to outsource their work, realizing high profits in the process. Today, business process outsourcing enables professionals like software engineers, graphic designers, transcriptionists, accounting professionals and other IT specialists to work from any corner of the world. However, outsourcing is not as easy as it seems or sounds. There are several things to be taken into account, the most important being choosing the correct outsourcing partner. Care needs to be taken in selecting an efficient partner with a professional outlook.
The perfect time to outsource
To put it very shortly – there is no better time like now. However, the ‘right time’ to outsource can vary from business to business. While you may have your regular staff to handle day-to-day activities, they may not be able to manage the show if you are planning to expand or take up a new project. When the current workforce is unable to cope with the work pressure, it is time to think of outsourcing to a professional company that has the wherewithal to deliver. Small businesses can explore the possibilities of outsourcing right at the outset itself and take advantage of the cost savings.
What to outsource?
Today, almost every task one can think of can be outsourced. Right from accounting/bookkeeping, virtual assistant services, ePublishing, healthcare, document management to complex software development projects, to name a few, are being outsourced to third party companies that have the capacity to undertake such specialized tasks. A word of caution though, before you can decide what to outsource, list out your company’s strengths and weaknesses. You strengths are your forte and it is better they are handled in-house. This helps you maintain your USP (unique selling proposition) that sets you apart from your competitors.
Types of outsourcing categories
Outsourced tasks can be broadly classified in three different categories. On the top of the list are tasks that need high levels of a particular skill that are currently handled by the top executives in the company. Next is the category under specialized tasks like computer programming, software development and IT support. The third category comprises repetitive tasks like data entry, data mining, inventory, accounts payable and more. Today, the services of a virtual assistant are most sought after, as the Internet has made the globe a smaller place, with distance hardly making any difference.
The Right Partner
In order to build a better business through outsourcing it is important to exercise extreme caution while selecting your outsourcing partner. One wrong choice can destroy your reputation and cause more harm than benefits. Today’s technology can help you locate a good partner who can help you establish your business. While starting locally is a great idea, it pays to inquire around and check with other business owners who are already outsourcing their tasks. There is nothing better than going by word of mouth and you may also seek your partner through professional online networks like LinkedIn and Twitter. Outsourcing is the proven way to expanding your business globally and small, medium and large businesses can outsource their work and save a whole lot of money in the process.
