Are you hesitant to explore outsourcing due to concerns about potential risks?
For businesses across multiple verticals, outsourcing is a smart strategy that helps them improve efficiency and productivity while lowering overheads. However, concerns over potential risks and a loss of control over operations can make some business owners reluctant about offshoring. To still avail of offshoring benefits while retaining control – partial outsourcing might be the solution you need.
Not only does partial outsourcing provide a way to mitigate potential risks, but it also offers a range of benefits. You will have the freedom to retain the ability to swiftly switch service providers if issues arise. It also enables you to enhance your productivity while maintaining full control over your essential business operations.
7 Reasons Why Your Company Should Invest in Partial Outsourcing
With the current global economy getting competitive by the minute, it makes good business sense for any company (large, medium, or small) to outsource at least partially. Here are seven reasons why your company should give partial outsourcing a thought:
- Save on the cost of labor while getting quality services from skilled and trained IT/ ITES professionals
- Obtain more local market share, maximize your profits, and beat your business rivals
- Offer your customers 24/7 support services, without stressing out your current employees
- Minimize time to market for new products and get a competitive edge over business rivals who are not outsourcing
- Enjoy the benefits that come with tax breaks and increase your company’s business growth
- Move your business firm to a higher level on the value-added chain
- Use the time of your in-house team of employees for other revenue-generating business activities
How Does Partial Outsourcing Reduce Risk?
When you partially outsource, you can keep popular outsourcing risks to a bare minimum. To begin with, you can always have control over what you outsource, as you will be outsourcing only a few, non-core business activities. If you are not happy with the services of a vendor or if you encounter data security problems, you can quickly change over to another service provider.
Since you will only be outsourcing non-core work, you can keep propriety knowledge, trade secrets, and details on new products safe from the outsourcing service provider. For the few services that you partially outsource, you can ask the outsourcing vendor to sign an NDA (Non-Disclosure Agreement) before commencing work. This way you can protect your business from data security issues.
Popular Partial Outsourcing Services
Here is a list of some popularly outsourced non-core business activities:
- Customer Support
- Data Entry
- Accounting and Bookkeeping
- Software Development
- Market Research
- Mortgage Services
- Creative Design Services
- Engineering Services
- Data Science Services
- Photo Editing Services
- Healthcare BPO Services
Top 5 Benefits of Partial Outsourcing
By partially outsourcing a few of your services, your company can leverage the following benefits:
- With non-core work out of your hands, you can shift your time and energy to business-critical activities
- You can save on cost and increase your overall productivity at the same time
- You can save on overhead cost
- You can benefit from better risk management and assured business continuity
- Partial outsourcing provides better flexibility in staffing
Would you be interested in implementing partial outsourcing? If so, which non-core business activity would you consider offshoring to professional service providers such as Flatworld Solutions? Let us know by filling in the form here. We love to hear from you!
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