Why should you outsource?
Outsourcing gives you immediate access to new high-valued multilingual talents and skills. Staff shortage is not only an issue of small companies and start-ups. Big, multibillion companies are struggling to find the right people, especially with the global aging of the population or budget constraints.
When you outsource, you will be able to centralize your operations, since service providers supply tools and delivery centers to implement a common set of processes company-wide. Centralization will help with:
- providing operational efficiencies and cost reduction;
- standardizing and streamlining processes across your organization;
- creating subject matter experts;
- achieving appropriate and affordable level of management expertise.
Outsourcing companies are companies that have many years of experience in the field. They can help you improve your business. You might be fantastic entrepreneur, but how good of a writer are you, how skilled Photoshop or IT specialist are you? Imagine looking for a new office – there are benefits of building an office from scratch and organizing all processes (lights, electricity, taking out the trash) on trial and error basics, but you can also hire a nice office that has everything taken care of and lets you focus on your area of expertise.
Choosing the right outsourcing partner is very important. There are certain criteria, that must be met:
- your partner should understand your company’s values and strategy. This will ensure productive relationship, commitment to the long-term goals, improvement of performance and, over time, evolving of the offered services in line with your own business requirements;
- location needs to be considered carefully. You need to think about cultural and geo proximity. Some countries are good at some languages and BPO outsourcing, other countries can be good for ITO outsourcing. Typically, ITO is service based and is focused on reducing IT costs. It involves mature, easily defined services that can be offshored. Whereas BPO is focused on the entire business – improving performance, efficiency and productivity.
- make sure you know what you want to achieve and what you expect from your partner. The first steps you need to take are to define your strategy and prepare and RFP (request for proposal). You need to know if you are looking for 5 German speakers to answer incoming calls or 20 level 2 technical support experts. You need to know what you are willing to pay and what you expect to get from the relationship. Once that’s done, choosing the right outsourcing partner will be an easy task for you.
In some cases, having 24/7 customer support is a must-have. However, this brings extra costs and can prove to be difficult to manage in-house. Outsourcing your customer support to another time zone can easily solve this. The business never sleeps, so your support should be on point. Today’s customers are everywhere – on social media, they can reach you via email or chat, or they can just look up the answer. Approaching an omni-channel approach to your customer support team should be your main drive. Your team members should be on the same page and some outsourcing destinations can offer you all the languages you support, covering all time zones, in one place. Having a centralized 24/7 coverage will boost your business and differentiate you from your competition.
And last, but not least – cost reduction. 59% of the companies that outsource, state that cost reduction was the main reason they decided to partner with an outsourcing company. This is undoubtedly one of the benefits of outsourcing. Lower costs of operations and labor can definitely help your business and deliver significant savings. When budget is short, it might be challenging to focus on your core competencies and at the same time expand your business. With ITO and BPO outsourcing you have the flexibility to decide which functions you can perform in-house and which ones to outsource.
The global outsourcing market is estimated to be worth around 90 billion USD. And is growing at 4% per year globally. Consider joining it!