Just like every other individual, businesses also make their own New Year resolutions. These goals will enable you to not just try new things but also find unexpected ways to drive profit. Outsourcing is one goal your business should include among its resolutions. It may not be the first thing you have in mind, but take a closer look and you’ll find that outsourcing brings in more opportunities than expected.
1. Give Your Team More Focus
Your business probably has several goals to execute throughout the year. For a small business, many of these goals will take time and use up most of your core team’s resources. At the same time, these resolutions should not distract your company away from tasks that are necessary to running operations, such as customer service, content marketing, and human resources. These tasks demand just as much time and effort. They will also throw off your team’s schedule for executing the bigger tasks your business has in mind. You could outsource the rest of these tasks so your main team can focus on growing the company further for the rest of the year. This also gives them more time to develop products and services, not causing any delay on goals that have a deadline.
2. Manage Your Costs
Sticking to a strict budget is likely part of your business’ main New Year resolutions. Outsourcing is one way to help your company control costs. You’re probably looking into hiring new individuals to handle tasks from your company’s growth, such as payroll. Unfortunately, hiring a new employee would just add more overhead costs. You will also end up spending on training this individual. It’s more sensible to outsource this task to a company that is well-versed and used to handling the given field. You limit your expenses to one payment that would have been so much more had it been a regular employee. The costs you’ve saved can go into other investments or add up to your company’s capital. At the same time, your current employee is able to focus on her main responsibilities.
3. Maximize an Outsourcing Company’s Expertise
Small businesses have a set of core employees that are experts in the service or product’s chosen field. If you are a restaurant, the people know a lot about food and service. But there’s a small chance one of them is an expert in coding, videography, accounting or social media. You would want to outsource tasks that require a specific expertise not just to keep your staff focused but also to capitalize on expert knowledge. By outsourcing an outside expert, your company can receive the benefits of the field without spending the same amount on an in-house employee. You not only pay for the outsourced company or expert’s services but also for their equipment, which is also considered in the packaged cost. Don’t worry about looking for a reliable outsourcing team for matters outside your main business. There are many experts out there who have established companies based on this premise.
4. Access to Global Knowledge
It is no longer enough for companies to limit themselves to their local resources. The Internet and technology lets us communicate with expert companies from all over the world. Many outsourcing businesses are located in different countries. Thus opting to work with them will give your small business access to world-class capabilities. These companies have hundreds of employees who have been trained in the field or task you are choosing to outsource. They are also well-versed in dealing with international clients and will have valuable input to provide in terms of tackling the task you are outsourcing.
Alternatively, you could also offshore one aspect of your business to another company. Offshoring is a business process outsourcing model that delegates one business activity to another activity. This move has several benefits related to global knowledge. The first would be business growth, as labor and service costs are lower in other countries. This frees up majority of your budget and lets you invest it in other aspects of your business. The second is access to a larger staff. These huge offshored companies normally hire university trained and English-speaking individuals that add even more value to your company. You don’t have to worry about hiring the right individuals as the offshored company will know how to select and train the needed staff. Offshoring companies also normally have a 24/7 operation, making them immediately accessible to your clients. The customer service aspect of your business is taken care of on a daily basis without you putting in much effort from your end.
Third, this offshored company has a staff hired specifically for your company’s needs. You are free to train them accordingly and manage them within the business’ goals so that they are aligned to your company’s strategies.
Lastly, offshoring also gives you access to a new market. If you are targeting a global audience, then working with locals within your chosen market helps you expand company reach. You don’t have to spend on travel and instead allow individuals who know the market better take care of that matter.
5. Reduced Risk
Outsourcing and offshoring leave relevant tasks in the hands of experts. If you were to take these on yourself, you end up risking not just funds, but also your staff’s time and resources. You can reduce the risks involved in taking on new staff by delegating to a company of experts. You have the freedom to choose whom to work with while also limiting the outsourced company’s responsibility according to your budget and needs.
Outsourcing could be that New Year’s resolution you need in 2018. Review your current goals and see which ones outsourcing can help. Just like any other resolution, it will seem daunting to fulfill at first. But soon enough you’ll find that working alongside experts will bring your company to new heights. Infinit-O is an outsourcing company you can rely on for a number of services. Get in touch with us today and see what we can do for your company.