Outsourcing is creating a buzz in the business world especially now that most sectors operate either on skeleton force or under a remote work setup. Many companies across the globe opt to hire external vendors because of its benefits. Whether you’re new in the business or a veteran, being familiar with the industry is important to maximize all the benefits of outsourcing. Thus, this article aims to talk about what you need to know before diving into outsourcing.
What is Outsourcing?
Outsourcing is a business strategy where company owners hire staff from third-party service providers to perform certain tasks and responsibilities. It allows companies to maximize resources at a minimum cost and acquire innovative ideas without neglecting non-core business tasks. This also helps improve efficiency and operational performance.
Why Outsource?
Outsourcing has a lot of benefits, making it become a go-to practice in the business world. With the help of outsourcing, business owners can focus on their core functions. Here are some points about why it’s beneficial to outsource.
In-Depth Expertise
Outsourcing frees you from the burden of training your employees. Instead, it assures you that you’ll be working with a group of experts in different fields. When you outsource, you can expect that the people who’ll be handling your project are trained to deliver excellent work.
Opportunities
With outsourcing, you can seize new markets through investments and partnerships. It opens various prospects for your brands to build their presence in fields such as manufacturing or sales before your rivals do. Partnership with local groups and other firms is likewise possible as one of the outsourcing perks.
Productivity
Your employees will not be overwhelmed and stressed with the workload when third-party service providers handle some tasks and projects. They have plenty of time to focus on the tasks assigned to them. Thus, the quality and quantity of their work increase.
Innovation
Outsource firms use modern tools to provide efficient services to their clients. Because of this, you can enjoy perks such as fast turnaround time and larger scope of functions.
Convenience
There’s no need to set up a new office and buy tools because vendors got those for you. You don’t need to exert too much effort; all you need to do is to outsource.
Resources
BPO/KPO companies give you access to their resources. They’ll work on your outsourced tasks with the help of their advanced tools, facilities, and skilled professionals. With this, they guarantee to provide outstanding services.
Risk Reduction
Risks always come with these gains. It may not be possible to remove them, but you can at least reduce their effects by leaving the complex course to the experts.
What are outsourcing services?
Large companies nowadays resort to outsourcing their non-core tasks to be able to focus on the improvement and maintenance of their core competencies. Others hire contractors to enjoy the less hassle route of growing a business. Outsourced companies offer wide range of services to meet your business goals. Here are the top 6 outsourcing services.
Administrative Services
Companies usually outsource administrative tasks to avoid piling of work. Administrative services include data entry, data processing, secretarial, website support, project management, real estate support, human resource, and personal and executive assistance.
Contact Center Services
Contact center services focus on customer satisfaction. Thus, if you’re in sales of products and services, it would be helpful for your company to outsource competent customer service representatives to cater to the needs of your clients. This includes live chat support, telemarketing, technical support, e-commerce support, and help desk.
Creative Services
Now that digital content is on the rise, creative services are starting to get noticed. This is because services such as video production, web, graphic, and UX design boost online presence. Plus, an optimized website can get more sales. Thus, many companies hire a creative team to focus on crafting designs to increase profit.
Digital Marketing Services
Since most transactions are now online, businesses try their best to improve their websites with the help of outsourcing companies. They hire digital marketers to do search engine optimization and marketing, content marketing, social media marketing, and email marketing. With these services, getting clients online and expanding the network is now within reach.
Financial Services
Bookkeeping and accounting services are the top 2 financial functions most companies outsourced. They hire bookkeepers and accountants from external vendors for a fast turnaround time. Business owners are guaranteed that only experts will work on their accounts payable, accounts receivable, payroll accounting, and other financial matters.
Information Technology Services
With the advancement of technology, many companies make sure that they won’t be left behind. Thus, they work with developers that will make sure that their website, software, and even mobile app are working at their optimal level.
Why Should You See Outsourcing as an Investment?
Outsourcing is a great help in growing a business. Many companies choose to hire services to ensure that their businesses won’t miss growth opportunities. It could be pricey but not as much as when you employ in-house staff. This makes it an investment more than an expense.
Pool of Experts
Working with professionals on the field you’re outsourcing increases the return on investment. You don’t need to waste your time learning how to do a particular task you aren’t good at because you can simply hire experts to work on it. Outsourcing gives you the benefit of working with people who have the knowledge, experience, training, and skills.
Time
Time is one of the reasons outsourcing should be considered an investment. Outsourcing gives you the time to focus on making money with the core functions of your business. The time you saved from non-core tasks can be used to do more important responsibilities. Further, the agreed turnaround time is guaranteed because external vendors will focus on your project.
Deliverables
Working with experts assures you that they will deliver first-rate outputs. Thus, not only do you save time; you also get your money’s worth with the services outsourcing companies offer. This quality assurance reduces the liability of your company. Instead, third-party service providers should hold themselves accountable when they fail to meet the outsourcing contract.
What are the Top Benefits of Outsourcing in the Philippines?
Outsourcing goes with a lot of advantages. One of its highlights is low cost while ensuring business growth. However, outsourcing isn’t simply about saving extra bucks. It has various benefits, too, and knowing where to outsource best helps you enjoy these perks.
The Philippines is one of the leading countries in providing third-party services. Many countries choose to hire BPO/KPO companies in the country because of their quality processes. Aside from that, there are many other benefits of outsourcing in the Philippines.
English Proficiency
As the third largest English-speaking country with a neutral accent, Filipinos are proficient in conversing in English. It’s the second language in the Philippines. Thus, it’s being taught as early as in grade school. This gives Filipinos the advantage since English proficiency is one of the most important skills BPO industry.
Fully Equipped Workforce
Aside from being English proficient, Filipinos are equipped with different skills needed to be effective service providers. The government prioritized the need to meet the demand for skilled workers. Thus, they have tailored call center training programs for those who want to be part of the industry.
Cultural Affinity
To increase customer satisfaction, you need friendly personnel who could address and cater to the needs of your clients. This is possible when you can connect with them, and having cultural affinity helps achieve it. That’s why hiring Filipinos is advantageous because the Philippines was immersed in Western culture.
24/7 Services
Providing 24/7 services could be difficult for you and your in-house employees. When this isn’t met, you can lose clients. Thus, offshoring can help you avoid that. Outsourcing to the Philippines is the ideal thing to do because of its location. BPO/KPO companies in the country offer all-year-round services; hence you don’t need to worry about missing leads even on holidays.
Technology/Resources
The Philippines don’t just invest in providing a high-quality labor force. It also prioritizes the continuous advancements in technology and resources. BPO vendors make sure that their equipment is up-to-date to deliver satisfactory output.
Cost-saving
Offshoring not only guarantees a pool of skilled workers, 24/7 services, and modern facilities but low-cost services. You can save more if you outsource to the Philippines because the salary range of Filipinos is 550.18 USD to 9,688.99 USD. While the salary range in the US is 24,000 USD to 423,000 USD.
Finding the Right Outsourced Company in the Philippines
There are many reasons outsourcing is better than going through all the hassle of hiring in-house employees. Plus, you can put more time and effort into the most important aspects of your business without leaving out your outsourced tasks. With all the benefits of outsourcing and the services it offers, the question now is: Where should you outsource?
Finding the best firm should be the top priority of business owners. This is because only the best service providers can better your business. Thus, if you’re an owner of a big company or a startup, you should aim to hire external vendors who offer the best services. Before farming out your tasks, keep in mind that skill is more important than the rate. You can find lower rates; however, it doesn’t guarantee skills right off the bat.
Good thing, as mentioned earlier, the Philippines is one of the leading countries in the field of offshoring. Filipinos are known to provide quality work because of the country’s continuous effort in strengthening the BPO industry. Because of this, many firms offer remarkable services at reasonable costs and one of them is Outsource-Philippines. So what are you waiting for? Let us help you skyrocket to success with our top-notch services. Get a free quote now.
