Of late, outsourcing has seen a lot of press. Some people appreciate it as the saviour of their business while others look at it as an evil job-killing approach of the management.
However, the outsourcing trend continues to grow both in value and the number of outsourcing transactions in various kinds of services which are outsourced. The work pressures which lead businesses to outsource their services show no signs of slackening and saving on costs remains the most important reason. Also access to innovation, quality of service and increasing market speed are other factors that influence organizations to outsource.
The range of outsourcing services is increasing with the value of transactions. Most of the non-core services like IT, accounting and finance, property management and HR which were initially done on an in-house basis are now outsourced to offshore locations like India. Of these, Business Process Outsourcing and Business Process Management are the fastest growing sectors in outsourcing. Since the attraction towards outsourcing has soared, several companies choose to outsource their projects resulting in the outweighing of downsides by potential benefits.
THE REASONS BEHIND OUTSOURCING
The basic idea behind outsourcing is to benefit the administrative staff to focus on some of the regular work that needs to be done to help businesses to grow and stay current in the marketplace. Normally outsourced projects are contracted for specific tasks and might be for a short period of time. The job is done by skilled professionals who are trained and screened by the Service Company in the specialized field.
To ensure better quality control and assurance, these experts work in the facilities of the company rather than from a home office setting and complete the requested tasks as expected with perfection. Contracting with a third party also reduces the overhead costs and provides the flexibility need to stabilize various demands.
AREAS THAT ARE OUTSOURCED
An Outsourcing Services Company employs large number of expertise staff who have been trained to provide the required services for their clients. The Company has its own management and runs background checks on these staff to ensure better quality control and assurance.
The most common functions and areas that are usually outsourced are:
• Information Technology functions
• Accounting & Finance
• Network & Telecommunications
• Data Entry
• Medical Billing and Coding
• Marketing and Security
CHOOSING AN OUTSOURCING COMPANY
Choosing an outsourcing services company is equal to choosing a business partner for your organization. Hence care should be taken to make your choice as the contractor should have the same type of work ethic and dedication as you are to lead your business to success.
1. Take step immediately and find a suitable outsourcing services company and do not wait till you need help.
2. Make it clear to the company what projects you want to be outsourced.
Now outsourcing is no longer about saving money and cutting costs. It is about how to do things more efficiently and rapidly and maximizing workforce flexibility to get to the market faster than your competitors.