Of late, have you thought about outsourcing your business to a third part vendor. Today, outsourcing is one of the most preferred way, that large business houses adopt to outsource their non-core business functions. Before, outsourcing your work, you need to understand the concept well.
Outsourcing is nothing but hiring a company on a sub-contractual basis which will take care of your back office functions. This enables you to concentrate on your core business like venturing into new business or other important aspects. Most of these companies do not work at your place but from their place of convenience. Now, what are the services that you can outsource?
These are some of the common services that you can outsource:
Customer support services
Telemarketing services
IT- help desk services
Order taking services
Technical support services
Email support services
Insurance processing
Data entry services
Data conversion services
Book keeping and accounting services
Business transcription services
The outsourcing market is expected to grow by leaps and bounds over the next years to come. More and more companies are planning to outsource their high end as well as low end jobs to offshore destinations. Most of the countries in the west prefer to outsource their work to India, Philippines, China, Mexico, Ireland due to availability of cheap labor,cost effectiveness, more number of English speaking professionals, time zone factor, latest technologies and reduced operational costs.
The offshore companies have realized that most of their back office work is tedious and needs special attention. Most of back office function are critical and time consuming. Therefore, by outsourcing their back office operations business houses can concentrate more on other priorities.
Advantages of outsourcing:
Gives you time to concentrate on your core business: As most of your back office functions are taken care by the outsourced company, you have more time to concentrate on your core business.
You get skilled manpower at lower rates: You get the facility of having a set of skilled workforce which contribute towards the efficiency of your company. This also increases productivity and save costs in a major way.
Tax benefits: Most of the offshore destination have flexible outsourcing policies which allows the companies to save big and also on your taxes.
Increased productivity: There is an increase in productivity as the company has skilled labor which results in better customer services.
Gives a cutting edge to the business: In this fast pace economy, a company needs to provide best of the services to its customers in order to retain them. Outsourcing helps a company to give better services and keep themselves abreast with their counterparts.
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