“If you deprive yourself of outsourcing and your competitors do not, you’re putting yourself out of business.” Lee Kuan Yew
Business process outsourcing (BPO) entails hiring of freelance outsourcing services through individuals or outsourcing solutions through companies to handle your business activities. The purpose of outsourcing is to gain services that are usually hard to find and expensive. Thus, you are free to concentrate on your business and leave the rest to outsourcing companies.
A number of smaller tasks could be outsourced that include:
• Sale and marketing
• Search engine optimization (SEO) and digital marketing
• Remote assistance
• Admin support
• Account and human resource development
1. REDUCED COSTS
Too much competition, poor supply of experts and rising costs are some of the travails of businesses today. Outsourcing companies provide improved efficiency from experts and services at reasonable costs. Once these two important issues are taken care off, businesses can work towards taking care of the competitions.
2. FOCUS ON CORE COMPETENCY
As the business grows, the demand for more human power and areas that seek attention grows too. Outsourcing solutions leave the businesses to focus on their core competency and important areas like production, sales, and mergers while handling the other areas themselves.
One of the main reasons for outsourcing is to get experts in a given field to work on projects related to that field. It is for this reason that most of the US-based companies outsource their work to India and China, software outsourcing is one of the key areas of outsourcing services. Businesses are assured of getting experts and at reduced costs.
Well, despite all these benefits, there are innumerable drawbacks of outsourcing too.
1. Refusal of an outsourcing company to stop the supply
2. Issues of confidentiality
3. Loss of control over your own work
4. Inefficient and untrained in-house team
These and more drawbacks make outsourcing a tad difficult too. Albeit, there are ways and solutions to beat these issues.
1. Maintaining a firm grip on your outsourced work
2. Regular and timely follow-ups
3. Due diligence of the outsourcing company
4. Continuous training of your own in-house team
Outsourcing services in India are happening in a big way. Economic Times has stated that outsourcing business in India is more than $ 150 Billion dollars. According to a London based global management consulting firm India provides the largest, financially most attractive and resource- wise the best human resource outsourcing destinations. ‘Outsource2India’ says that India is on top amongst the total of 55 outsourcing countries. There are many reasons that collaborate to make India the favorite outsourcing destination:
1. Access to educated professionals with a mindset to work hard and charge reasonable
2. Expert services (research, customer care, marketing, accounting, etc.) of Indian professionals can keep your mind focused on your core areas, while the outsourced work is carried on perfectly
3. Very high-quality work is what India has been giving in outsourcing. The National Outsourcing Association said that initially reduced costs was the primary reason for outsourcing work to India. However, the speed with which the Indian outsourcing companies worked and the superior quality of their work, made the businesses get hooked to Indian outsourcing.
4. State of the art infrastructure
5. Stability of the Indian government
Thus, outsourcing is something that cannot be ignored by businesses that want to grow without being bothered about technical issues.