Outsourcing has been a popular business trend for the last decade as there are a many proven benefits from it. When you outsource, you are basically contracting with an outside party to take care of certain tasks instead of hiring new employees or assigning those tasks to your company’s existing staff.
Outsourcing has various benefits, but in this article, we sum up the top 7 reasons to outsource.
Finding highly-skilled workers can be a challenging, plus it takes so much of time. Companies can spend weeks or months just to hire the right expert for the job. Additionally, you have to go through trainings and internal processes that takes a day or even weeks more.
By engaging business process outsourcing providers like FBC Asia Pacific, which has quick access to highly-skilled resources, you will have the peace of mind that experts are doing the job for you.
2. Lower Costs
Rather than spending money to purchase new equipment or having to move to a larger space, you can outsource your business services for a lower cost. Countries like the Philippines and Sri Lanka have standard wages that is up to 50% cheaper than the wages in U.S. and U.K. Don’t be fooled with the cheaper cost — these countries are proven to provide high-quality work. In fact, the Philippines have been constantly included in top 10 most desirable outsourcing destination.
Aside from undeniably cheaper wages, you can also immensely save on health care and benefits, hiring to onboarding, and payroll taxes.
Indeed, working with contractors can minimize these costs, letting your business get higher-quality work at the same cost.
3. Access to Cutting-edge Technology
Businesses need to keep up with the latest advancements in technology to stay updated and competitive. Why spend thousands of dollars on the newest technology when outsourcing allows you to accomplish more with less? Outsourcing companies utilize modern technology to deliver high-quality services and solutions. Not only that, but they also have subscriptions to all the latest frameworks and development tools that they use for all their projects.
4. Free-up Internal Resources
Freeing up internal resources, is the process of making the best use of internal resources without burdening or overloading them. Through outsourcing, you can employ external talent when it’s necessary or when there are no suitable candidates within your organization. Or if your company has a specific skill set that you don’t currently have the expertise in-house, outsourcing will help fill this gap.
5. Focus on Core Competencies
Outsourcing allows you to focus on what matters most—providing quality services for your customers—instead of managing the day-to-day tasks that may be taking up too much of your time (and energy).
6. Staffing Flexibility
If you need someone with specific skills in a short amount of time, outsourcing allows you to find them quickly and effectively. It allows you to hire specialist expertise in key areas where you don’t have the time or expertise in-house. For example, if your business is heavily reliant on IT systems, then outsourcing IT support will allow you to focus on other aspects of your business.
7. Flexible Solutions
It is essential that businesses are able to adapt to the fast-changing global economy. You should be able to expand or downsize quickly based on business needs. This can be hard as there are certain labor laws that protect the employees from being laid off right away. By working with BPO providers like FBC Asia Pacific, we take that risk away, making your business flexible to the economy’s quick rising and slowing demand.