7 ways your business can benefit from outsourcing

Published 15 Mar. 2023 | 5 min read

Here is why business process (BPO) and IT outsourcing (ITO) can be the right choice for your business to thrive.

If you stumbled upon this article, chances are you are successfully growing your business and are wondering if outsourcing some of your processes might be the right choice for you. The numbers certainly don’t lie – according to data from Exploding Topics, in 2022 alone companies spent over $700 billion on outsourcing.

Going into the specific segments, ITO is expected to reach $519 billion in 2023 — a 22% increase from 2019, while BPO is forecasted to grow to $212 billion by 2023 – a 19% rise over 2019. Evidently, the practice of outsourcing is rapidly growing.

But why is it that so many businesses of all sizes actively choose to partner with an outside company and what could be in it for them? Here are the top 7 factors that tip the scales in favor of outsourcing and why you should consider it.

1. Accelerate your growth

Oftentimes when companies are on a growth path, they reach a point where the workload becomes heavy and needs optimization. Thus, they might start contemplating hiring and training new full-time employees. However, this often becomes a cumbersome and unnecessary task that only slows down the momentum and reverses growth. In such cases, outsourcing can be a great opportunity to avoid sidetracking and continue benefiting from competent professionals without the commitment to a whole in-house team.

2. Stay flexible and adaptive to changes

Outsourcing allows you to easily adjust to changes within your own business or in the general market. For example, you might need different staffing needs depending on the time of the year or you might benefit from certain services only in specific cases. As such, an outsourcing partner can lend a hand while you retain the possibility to either scale up or down the intensity with which you outsource certain projects.

3. Focus on developing your core competences

A crucial advantage of outsourcing is that you can keep your focus on your main business objectives and develop your key company tasks. Let’s consider customer experience (CX). Although it is undeniable that it is one of the most important aspects of any business, it is also far from a core competence. Consequently, it can be time-consuming and, in the end, might not produce good results if not done right.

Outsourcing your CX solutions will help you in two ways. On the one hand, it can increase ROI by making your business operate more efficiently. Meanwhile, a good outsourcing partner will also represent your company and your product/service in a high-quality, professional, and responsible manner and will enhance your brand identity and image.

4. Reduce your expenses

As we’ve mentioned, recruiting full-time employees can be a long, complicated, and often unnecessary task which can eat up a big chunk of your company’s budget. Preparing and launching job campaigns, conducting interviews, training and providing office supplies and specialized equipment can all turn into a bad investment. Outsourcing allows for better budget delegation and planning. Ultimately the budget that you would otherwise spend on recruitment can be better invested in scaling up and diversifying your business operations.

5. Obtain access to high-quality skills and resources

Constantly keeping up with the industry trends and having access to the newest updates can sometimes be out of your reach. For example, IT experts spend a lot of time on learning about data workflows, cybersecurity and privacy as well as keeping up to date with the fast-paced and rapidly growing digital environment. Thus, it is reasonable to rethink hiring a whole IT team where some will need to learn from scratch.

For outsourcing companies this is not a problem – they are able to attract and retain top talent which gives your company competitive edge. Furthermore, an innovative BPO/ITO partner is highly advantageous as they understand your business needs and objectives, implement modern tools and deliver the latest tech solutions right to your door. Last but not least, outsourced teams often possess different knowledge and skillsets and can provide fresh insights to truly innovate and diversify your company.

6. Improve your risk management

Let’s face it – all companies have had to deal with issues of quitting employees, missed deadlines, cancelled or delayed tasks and projects. These disruptions are often unanticipated can be truly detrimental to a business’ operations. Investing in outsourcing improves your risk management since these companies are well-prepared and a have a large talent pool at hand. They also have already developed learning and training programs set in place and can therefore rapidly ramp up and down their teams according to the client’s needs.

7. Enhance your CX and increase customer loyalty

The end goal of every business is to build a strong connection brand-customer relationship and deliver the ultimate CX. This, however, is easier said than done and requires years of research and experience. Outsourcing companies have highly trained professional customer support teams that are always ready to meet the rapidly evolving needs of your customers, help you stand out from the crowd and win at the CX game.

At Pontica Solutions, we are committed to building reliable and trusted partnerships as we work in synergy with your company culture and tailor our solutions to your specific needs. So don’t hesitate and get in touch with us!

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