Today, “Outsourcing” is not only about cutting costs, but also about reaping the benefits of strategic outsourcing, such as obtaining specific skills and expertise, reducing overhead, greater flexibility in staffing, increasing efficiency, reducing turnaround time and ultimately, generating more profit.Like any other business venture, proper planning and research are necessary before choosing an outsourcing partner, on shore or offshore. By outsourcing to a third party, your business can focus on what it does best and gain a competitive edge in the marketplace.The outsourcing partner selection process can be a very complicated. As you evaluate your choices and decisions in outsourcing different components of your operations, you will need to consider the advantages of outsourcing. When done for the right reasons, outsourcing will actually help your company grow and save money. There are other advantages of outsourcing that go beyond money.
Few Benefits of Outsourcing:
“Today CEOs are saying, ‘Don’t tell me how much I can save. Show me how we can grow by 40% without increasing our capacity in the U.S.,”‘ says Atul Vashistha
Get Access to Skilled Expertise
One of the primary reasons for a business to outsource a task is when it requires specific skills and expertise that may not be its core competence of its business. To allow you to focus on your mission of providing high quality products and/ or services to your customers, it only makes sense to outsource skill-specific tasks to experts who can perform it better and faster.
Focus on Core Activities
As your business grows in size, all the non-core functions also increase, and could affect the quality of your core activities. By identifying and outsourcing these tasks, you can redirect your organization’s resources towards tasks that are critical to your business.
Run Your Business 24×7
Offshore outsourcing to a different time zone, gives you the added advantage of making full use of the 24 hour day. You thus get more work done in a day, increasing your overall productivity.
Cut Costs and Save BIG!
All the benefits listed above come with the bonus benefit of lower cost and big savings! When you outsource, you can save on time, effort, infrastructure and manpower. Since you don’t have to invest in infrastructure, you can also save on making unnecessary fixed investments. Outsourcing removes the burden of changing or maintaining infrastructure. You can also save on capital expenditure and training costs, because you do not have to invest in infrastructure and manpower. These savings will help bring about an increase in your revenue.
Give Your Business a Competitive Edge
The ultimate benefit of outsourcing is that it helps your organization gain a competitive edge in the market. Through strategic outsourcing, you are providing your customers with best-of-breed services, managing your internal resources intelligently, and increasing your productivity. Outsourcing will get you way ahead of your competitors who have not yet realized the benefits of outsourcing.