As the world, including businesses, become increasingly digital and technology-dependent, the expectations to meet fast-paced service delivery also grows exponentially. The pressure is on for all companies to be always online and responsive to their clients.
While outsourcing has been around for decades, we don’t see demand as slowing down but rather as evolving. According to key insights from Deloitte’s 2016 Global Outsourcing Survey, compiled for 280 companies spanning the globe, “outsourcing not only continues to expand across mature functions, such as IT, human resources, and finance, but it also continues to move into non-traditional functions such as real estate, facilities management and procurement.”
The key to the outsourcing industry’s continued success is how the industry continues to innovate and how outsourcing companies bring this innovation and technology to their client’s businesses. Below we outline three main ways on how outsourcing can help your business keep up, and even outshine the competition, during this swift-paced era.
- Outsourcing can help your business learn and implement emerging technologies in your industry. Outsourcing is no longer just for answering customer queries or balancing books. As technology moves forward, it only makes sense that the industry deeply rooted in transformative technologies to deliver value to its clients is one the first to learn about and implement these new advancements. Therefore, companies are looking to their BPO partners to help them capture and integrate marketplace advances and new practices. Other companies also depend on their outsourcing providers to introduce them to new software and services such as cloud-based service delivery and process automation. The key takeaway here is that partnering with the right outsourcing company can help your business stay on top of new technologies and innovative practices, helping to give you the edge versus the competition.
- Outsourcing can help your company function better and more efficiently. While the outsourcing industry may have started because of cost-savvy companies seeking to reduce their overhead costs, the role of this industry has changed enough that benefits of partnering with a BPO go beyond cost reduction and instead became a strategy to ensure business efficiency and strategic use of resources. Businesses found that by outsourcing non-core activities, their in-house employees were better able to focus on primary and profitable business tasks. But don’t think that mundane tasks are the only activities a business can outsource. The right outsourcing partner can take on tasks or activities that call for higher levels of expertise. Many businesses find that having an outsourcing partner equates to having a team of on-call experts. This also helps with a company’s risk reduction strategy, taking much of the burden off your shoulders and into the hands of experts.
- Companies are turning to on-demand outsourcing as a strategic approach. Reacting to the peaks and flows of demands is important for any business in the high-paced world. Small businesses are particularly vulnerable to this as they usually do not have the resources to invest on a robust workforce that might not be needed all year round. Outsourcing gives them the flexibility to grow or supplement their team when needed and scale back when not. On-demand outsourcing is still in the early stages of maturity but many industries are already taking advantage of this new trend and use it for planning ahead for demand-intensive seasons. Examples of these industries include the hospitality industry which uses on-demand outsourcing to keep up with the influx of more guests on a seasonal basis; businesses that deal with logistics also see an ebb and rise in delivery demands depending on the season and must be able to meet those demands when needed; while retail companies take advantage of on-demand outsourcing by expanding or contracting their sales staff, IT, and customer services.
Given the right opportunity, outsourcing will help you not only address the immediate needs that your company is facing, but also help improve your process, resulting to higher investment returns in the near future. Let Infinit-O help you with your needs. Click here to learn more.