Are you an entrepreneur thinking about how to take your business to new levels of productivity? Are you looking at streamlining your current processes to strengthen brand recall to target customers? And are you exploring effective strategies like business process outsourcing to help you achieve these goals?
This article walks you through numerous reasons as to why you should explore business process outsourcing and how it will propel your business to new heights.
As a budding business owner, your business is probably far from smooth sailing. This is most likely true when your business is facing many challenges in the event of an economic crisis. In such cases, it is very handy if you let your options open and resort to strategies to mitigate potential downfalls. One way of ensuring that your business performs well while keeping those challenges at bay is to outsource certain non-core functions to a service provider. Below are some of the key features of outsourcing that can benefit your business:
By outsourcing some tasks, you allow your business to reduce labor costs. Outsourcing enables your business to cut employee benefits that add up in payroll expenses. This allows your business to work with professionals without recurring benefits. Also, you don’t have to spend much on training your employees in navigating your business. Professionals from the BPO industry are skilled enough to understand your business requirements.
Moreover, outsourcing can reduce the cost of capital expenditures such as additional office space, computers, and software. You can save on infrastructure and material costs, as these will become your outsourcing partner’s responsibility. This will give you room to budget your capital accordingly and save a huge chunk of money.
Keep in mind that you must be careful in choosing your service provider. Given that there are challenges in synchronizing deliverables, you may suffer from stretched delivery time frames or substandard quality output when you choose the wrong partner.
Outsourcing gives you the opportunity to free up office space. To save up, businesses resort to outsourcing to eliminate the need of renting a larger space for new employees. Instead, they just hire remote staff to make their workplace less crowded. In addition, they don’t need to provide internet service, office furniture, or equipment like laptops, as these are being shouldered by their chosen service provider.
In scaling up your workforce remotely, it’s best to access and overview everything that your service provider is doing. After all, you want to get much value for your money by knowing their level of productivity during working hours.
However, outsourcing limits you to have face-to-face communication which is crucial to developing solid working relationships. With this in mind, you must conduct a consultation via video calls to support positive collaboration.
Relying on local talents alone can stunt the growth of your business. When you can’t find skilled talents within your area, outsourcing could be a better option.
Outsourced talents are more specialized because of their flexibility to switch from long to short-term projects while developing broader competencies. To rack up success, opt for outsourcing international talents to get an edge over your rivals.
Organizations with a limited workforce face challenges of prioritizing key tasks. If this reflects your current situation, then there is no doubt to outsource in the future. One of the many reasons why this happens is most employees focus on non-core activities. Paper works and other routine jobs consume too much time leaving employees unproductive.
Meanwhile, employees of large organizations slack off very often since non-core duties affect the completion of their vital tasks. Simply put, outsourcing can help you prioritize your key tasks regardless of your company size. Not only does it help your employees focus more on other tasks that will help them grow, but it can also maximize your operational efficiency.
Constructing your business model should not be made on a whim, as this may affect your company’s value proposition and strategies. Unfortunately, many businesses are strangers to their business model and feed their customers with inappropriate messages. As a result, businesses focus only on their processes and neglect their customers in mind.
In prioritizing customers, one must ask: what exactly am I offering to my customers? What differentiates me from the competition? What keeps my customers loyal and what is the primary product or service I would want to be known for?
Answering these questions allows you to identify a singular, non-negotiable value proposition where you can anchor your company’s strategy and core processes. In return, you can reinforce more compelling marketing messages to your target market.
While this may sound complicated, keep in mind that you have an option to outsource. Again, these are just some things to consider in helping you decide whether to outsource or not. Identify what’s important to you and your business — this is always a good way to start.
In this new normal, outsourcing can help your business stay afloat regardless of the prevailing economic uncertainties. We’re in a long haul for sure and no one can predict how long the global economy can withstand present challenges. With this in mind, maybe it’s time for you to think about why outsourcing is a brilliant idea.
Magellan Solutions, a BPO company based in the Philippines, offers both inbound and outbound services tailor-fit for your needs. To ensure we adhere to your expectations, our team of quality assurance specialists regularly checks the quality of each customer interaction to deliver promised results. We also provide multilingual customer support and multiple channels to provide you quality contact center services. Plus, we are ISO and HIPAA certified to guarantee the safety of your data.
Are you interested to get started with outsourcing? Fill out the form below to get a free consultation.
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