We all know that outsourcing has become a major destination for big businesses across the world, its business model has been utilized as a strategic option for increasing revenue and seen as an effective cost saving measure. Most are also aware of the impact on businesses by Covid-19, seen in foreclosure of many businesses and decrease in customer traffic. What many are unaware of, is the resiliency outsourcing has shown during the pandemic and how BPOs have remained afloat in spite of the innumerable setbacks.
If you plan to operate a business during these trying times or are struggling with your start up, here are some reasons why you should start considering outsourcing.
If you've felt hounded by small tasks that tend to draw your attention away from the bigger picture, you are not alone. By outsourcing more mundane functions to offshore companies this allows you more time to focus on your core business functions.
Range of Expertise
Outsourcing expands your choices across international waters, and there are no shortages of suitable applicants that charge less than half and can accomplish more. The rate of experts in one country does not apply to another, any entrepreneur would deduce that hiring more could lead to higher revenue and accomplished objectives. Resources are no longer limited when the globe becomes your recruitment pool.
Access to Resources
Offshore outsourcing evens the playing field by offering state of the art technology at low cost pricing, this allows entrepreneurs to speed up production deadlines and employ more personnel to accomplish their goals. Faster internet connections, more conducive and affordable office spaces and pool of experts can be made readily available. In 2019, outsourcing posted a $92.5 Billion revenue thanks to their timely delivery and consistency of BPO companies to keep up with the needs of their clients.
Yes, the number one reason why big businesses outsource -it's cheaper. From the cost of equipment to budgeting operational expenses, even the rate of salaries and non coverage of government mandated benefits can go a long way. If managing your operation expenses is a top priority then this is your go to solution.
While covid may have closed the door temporarily on face to face transactions, it opened windows of opportunity for your business to adapt and evolve thanks to outsourcing. If you wish to know more, feel free to contact us.