Which is the best example of outsourcing
Which is the best example of outsourcing ?
Analyzing the top 5 outsourced jobs & their strategic advantages.
Outsourcing or offshoring is now a common term in the world of business. Even if you are not doing it, you have undoubtedly heard of it. It is a business model that large corporations have been profiting off of for decades now, but now the small and medium enterprises are making use of it. It is an efficient way of cutting costs and acquiring skilled employees for your company. But it is still a massive undertaking for any company, and it is natural to be puzzled by the whole process. But first and foremost, for any company looking to outsource jobs, it is essential to evaluate your company and figure out your requirements. Wondering which is the best example of outsourcing? We have compiled for you a list of 5 areas that are highly outsourced to other countries. Though every company is unique, there are certain services you cannot function without but don’t need to do it yourselves either. Let’s take a look at some of these jobs and how it benefits your company if you outsource them.
IT asset management
It is possibly the most significant outsourced sector in business, and with good reason. IT specialists and engineers are highly sought after jobs owing to the digitization of companies and the involvement of technology in all processes. Companies no longer operate without computers and software, however big or small. It is part of daily life in offices. With the use of IT infrastructure comes the need for IT professionals who can provide and manage this infrastructure. But in the USA and UK, an IT employee costs a lot. To have an in-house IT employee or a team would mean high spending. But when you outsource the same jobs to another country, you end up employing your team at a considerably less price, but more importantly, you get highly skilled employees. This job demands extensive computer knowledge and technical skills. An individual needs to be highly qualified in the IT field to undertake this job, which is a talent not easily found locally. But overseas, in a country like India and China, there is a large pool of IT professionals who are experienced enough to manage your systems efficiently.
Marketing (Social Media Management)
Marketing and advertising is another crucial aspect of a business. This is how you reach your audience and sell your products or services. But it also happens to be a highly time-consuming job that needs proper strategy and awareness about the latest marketing trends. It takes time to hire and train an in-house team for marketing. Yet, when you outsource this area, you get yourselves experts in your employment that are experienced in the field and can formulate a plan most effective for your company. They can evaluate your company’s needs, work on the strategies, and provide you with the best solutions. Not only do you get top-notch marketing for your services across various platforms, but you also save a lot of time that can be dedicated to promoting your business.
But even if you are hesitant about having a whole offshore marketing team, you should outsource social media advertising. It is a massive part of the marketing sector that you can profit from. An active social media presence with engaging content helps companies boost their sales. So you need a skilled, dedicated team managing your social media, and with the lucrative price offered offshore, it is a job worth offshoring.
Accounting and Finance
Which is the best example of outsourcing you asked? Accounting and finance for sure. You need the best accountants at work on managing your finances, yes. But you don’t need them managing it in-house. Accounting and finance is purely a financial area of business that has nothing to do with your specialization. So every moment spent managing an accounting team or managing your finances on your own is a moment spent away from your actual business. This is why it is one of the top outsourced fields in business. You outsource the management of your finances to better-skilled accountants to streamline your business. The offshore employees are talented professionals with the best tools and software at their disposal. Not only can they handle your accounts efficiently, but they can also offer you insights and advice regarding your finances. They can help you run your company with better profits and margins.
Customer support
Customer care is vital to all companies. Your customers should be able to reach you with their requirements, whether it be for information, complaints, or simple feedback. Your customers are what makes your company, so be sure to provide them with the best services to avoid losing them to competition, and that involves providing them with customer support. But setting up customer support requires a lot of resources; you need money, office space, employees, and necessary tools and equipment. That can put a massive dent in your budget, which is where outsourcing comes in. You outsource your customer support to a country like India, which has an English speaking population and low labor cost. They also have some of the best technology and infrastructure that ensures smooth work.
Human Resources
Another highly outsourced service is that of human resources. A company can outsource its entire human resources function from recruitment to all the other administrative activities, or they can outsource certain services such as maintaining payroll, managing employee benefits, and organizing team activities. The HR department needs to have proper knowledge and skills and should be proficient in communication. With outsourcing, your company can hire experts who can take care of all the administrative tasks for you and ensure staff productivity. They are current with all the business procedures and technologies to make sure that the company operates smoothly. With an offshore HR team, a company avoids overhead costs.
These are some of the services that are commonly outsourced by companies nowadays. Other than saving them on labor and overhead costs, outsourcing provides the best talent for you to hire and help your company grow. So, next time you think which is the best example of outsourcing, you might want to take a look at these fields first.