Outsourcing: Know The Best Deal For Your Business’ Success

Unlike popular belief, outsourcing is not as easy as one, two, three. There are a lot of things to take into consideration and many questions that need to be answered first, before a business take this big leap.

Let’s answer the 5 biggest “W” questions when it comes to hiring a third-party vendor:

Question One: “Why Should I Outsource?”

Big companies hand over non-core tasks to their outsourcing partners so they can focus on their core competencies. But what are its advantages for small to mid-size businesses or SMBs? When a business is in a competitive industry, they need to have an edge over your competition. That can be done by outsourcing. Imagine accomplishing tasks and getting excellent results while spending less than normal. Outsourcing gives businesses a chance to tap into a humongous pool of world-class talent, at the time they want it, and at the price they can afford. Why wouldn’t that make someone want to take advantage of it?

Question Two: “When Should I Outsource?”

The perfect time to outsource depends on a business or company. An organization with lots of staff may take longer to do so, because they have people who can handle non-core tasks. However, for SMBs, the time to outsource may come sooner rather than later. Start-ups have lots of things to prove. They need to finish tasks fast while maintaining quality. Outsourcing helps accomplish that. When a business or company finds that they want to focus on core duties, then that is the perfect period to hire third-party vendors.

Question Three: “What Should I Outsource?”

It depends on the needs of a business. But here are the most common tasks that are offshored:

There are two types of outsourcing: nearshoring and offshoring. Nearshoring is handing tasks to nearby countries, often benefiting from different dimensions (e.g. geographic, cultural, linguistic, and economic linkages). Offshoring is the relocation of a business process from one country to another. The countries outsourced to is normally quite a distance away from the “base.”

In terms of offshoring, firms have lots of options to choose from. However, there are only 2 countries really fighting tooth and nail for the top spot – India and the Philippines.

However, the Philippines have been a “crowd favorite” for the past few years. Both the BPO and the KPO industries continue to grow in the country. Here are some of the main reasons why:

Cultural Compatibility – Compared to other countries in Asia, the Philippines’ culture is much more compatible with that of the West. This goes back to the time the country has been governed by the US. The Americans’ influence is felt in a lot of industries in the Philippines, from education to entertainment.

Highly Skilled Workforce – The Philippines stands out from competing countries because of its literacy rate. Graduates from universities and colleges in the country often occupy top positions internationally.

Economic Growth – The country’s economy has been stable for the past decade, and its continuous growth inspires foreign investors to take a chance in the good business atmosphere.

Low Cost – Compared to other Southeast Asian countries, the Philippines is a low-cost country. A perfect example to prove this is employees’ salaries. They are a mere fraction of those in Western countries.

Question Five: “Who Should I Outsource To?”

Choosing the right outsourcing partner is a crucial step. There are way too many businesses claiming that they can provide quality service for a low price. However, their credibility and authenticity cannot be verified.

Outsource-Philippines have accomplished so much, and they have proven themselves time and time again. They provide effective methods, as well as, efficient, skilled, and professional staff. They can give these advantages, among other things:

Cost Reduction

Flexibility

Concentration on Core Business

Revenue Increase

When a business is looking to hire outsourcing services, keep in mind that choosing which vendor would have the company’s best interest at heart is a critical and important decision.