We all know of company giants like Apple, American Express or WhatsApp that have become famous for outsourcing and use it as a powerful tool for maintaining their position as market leaders. SMEs however, have been slow to implement it as a solution to innovate, grow, and stay competitive.
One of the primary issues is that in many cases these companies do not promptly recognize the need to outsource and by the time they do, their operations have already become a dreadful mountain climb – overwhelming and difficult to manage. Thus, let’s go over several different scenarios which strongly indicate that it is time for a change.
It is great when your company experiences dynamic growth. At the same time, you will likely notice that your employees can’t keep up with the new pace. You might feel tempted to hire more staff, but this can be a rigid and expensive solution, eating up even more of your time and resources. Furthermore, during a development phase, it is challenging to determine whether the experts you hire today will be needed in 3 months or a year. As such, outsourcing some of your tasks to an experienced BPO and ITO provider will save time for your current employees and allow you to focus on your core competences to further scale your business.
2. You are struggling to focus on your company’s main tasks
Your business success depends on the continuous improvement of your core product/service. Despite this, you can easily get carried away with tasks outside of your main competences, resulting in slower growth and inability to keep up with the competition. Therefore, looking to outsource important tasks such as customer experience (CX), software development or smart automation is the best way to go about it.
3. You don’t have time for strategic planning
Administrative tasks are indeed quite important, however they can be very time-consuming. In fact, according to a report by Personiv, 88% of the C-level management struggled to delegate enough time for strategy. The issue with SMEs is that senior management are often running a one-man show, juggling a lot of tasks while strategic planning falls behind. This is why an outsourcing partner is needed to take over certain back-office and admin functions while you focus on your strategic priorities in terms of the overall business development.
4. You lack internal knowledge
No one is a know-it-all in every possible sphere, and this applies to your own team too. As you grow, your business will experience the increasing need for different specialists with specific, in-depth skills and competences. Meanwhile, you might not yet be able to afford to recruit enough people or the concrete experts that you need. This is where outsourcing some of your operations to external experts can come in handy. In addition, if you lack the capacity to develop a new idea or project, the diverse talent solutions that outsourcing providers deliver will guarantee a timely, top-notch execution with little to no fuss on your end.
5. You achieve progress at a very rapid pace
Although this is not universally common, in some cases companies can experience rapid growth in a very short period and suddenly face higher customer demand. This can lead to a large and unexpected workload for employees who start to struggle handling the new tasks. With their on-demand customer experience, IT, or talent solutions, BPO and ITO companies can help your business effectively keep up with the fast growth and even exceed customer expectations and innovation trends.
Stay tuned for our next article where we will take a closer look at the key outsourcing factors that give SMEs a competitive advantage.
Ultimately, whatever the situation that your business is facing is, a reliable outsourcing partner will get you a long way. At Pontica Solutions, we deliver outstanding tailored solutions to promising startups, scale-ups, and top-tier global companies in dynamic industries like High Tech, FinTech, Health Tech, Games and Entertainment, Logistics, and E-commerce. Get in touch with us if you are ready to boost your business operations and become a truly innovative leader in your industry.