Business Process Outsourcing (BPO) is the practice of companies engaging third parties to complete services, tasks, or operations for them. BPO is in increasing demand in today’s world, as technology allows for extremely qualified organisations and professionals to collaborate. The recent global pandemic has proven to the world what we already knew: the technology of today is more than capable of carrying the global economies online. And in this current business ecosystem, it is companies which engage in outsourcing that manage to grow tremendously. Smooth scaling and expansion is possible for those who use BPO and seek remote support. Despite these numerous benefits, some have remained old-fashioned and lagged behind on the trend. Here are five reasons why your company should stop wasting time and money and begin outsourcing today!
You focus on your core business!
By outsourcing certain tasks, you allow for your company to focus on what’s more important for the organization. “Businesses must identify their core competencies and capabilities and focus their own R&D, talent management and resources on being the best in their industry at these,” says Marc Resnick, Ph.D., director of the Institute for Technology Innovation at Florida International University. By allowing for employees to focus on their core competencies, and not engage in work they’re not specialized in, or repetitive, menial tasks which can be easily outsourced, you’re giving space to your employees to perform the jobs that they’re good at: the jobs you hired them for.
Become growth-oriented, faster!
The ability to focus on your core competencies translates to another crucial superpower you will gain when outsourcing: the ability to focus on growth. Many companies can’t scale fast enough or at all as they face numerous hurdles, such as micromanagement, lack of resources, multi-tasking and not being able to delegate well enough. Scaling up and growing your business is much easier to do when you are outsourcing and no longer worried about micro-management, creating extra teams, and allocating a number of tasks which themselves come with incessant distractions, extra menial work from previously unconsidered details, and potential errors.
You’re choosing from the best of the best!
When you outsource a task, not only are you choosing from a limitless pool of talent, but you’re also choosing a company that is highly specialized for the job! This way, you can have multiple employees – on demand – at a lower cost! Who doesn’t like that?
This naturally leads to incredibly high quality of work, as well as a smoother workflow, because the high-stress and highly-interruptive work of management is now handled by the company you’ve outsourced to! By outsourcing, you also create a more focused work environment in which both the people in your company and those outsourced will be working on a single task, and more likely to be “in the zone” A.K.A. “flow”, a state of energizing focus and intense concentration in which a person is fully immersed in their work.
It’s cheaper and safer!
Besides operations and management costs, the recruiting and training process for many companies is very time-consuming and expensive too, and it includes a lot of regulatory and legal risks.
With outsourcing, you won’t be wasting time recruiting, training or educating your employees. These costs have already been covered by the company you will outsource to. As they handle all the operational, technical and financial headaches – they also take care of the legal risks and responsibilities related to employment.
Some organizations only consider outsourcing when they’ve already grown too big to manage all of their tasks, but it can actually be cost-efficient to outsource from the get-go, too. While it’s true that you don’t want all of your core competencies to be delegated, you can outsource plenty of other tasks such as assistance in bookkeeping, customer support, data entry, and software development from the very beginning! These tasks might also be cheaper in and of themselves for the specialized company to handle due to their expertise, time, and equipment. This is especially true for highly-specialized tasks for which you might lack local talent and cannot afford to set up an entire in-house department.
It is time-efficient!
Allocating tasks to a specialized BPO company often means simultaneous work, as the party you’ve outsourced to will complete these tasks more quickly, with no need for you to micromanage, all the while you’re doing your own day’s work, doubling up on productivity. A company which refuses to outsource is a company in which lack of prioritization leads to inefficiency, as workers are juggling tasks that they weren’t hired for, aren’t specialized in, or find boring and repetitive.
Having a reliable company in a similar time-zone enables you to utilize both real-time communication with the perks of covering multiple time-zones for your clients. For example, at Sonnecto – a BPO company based in South Europe, the employees work full-time in sync with the client’s time-zone in New York or Illinois.
“We find substitute employees for night-shifts or holiday coverage – as we handle the details of scheduling and the necessary HR work – so that our clients have their customers covered. “ says Fatos Ameti, Co-Founder & Chief Executive of Sonnecto
As we all know, time is money – and outsourcing saves you a lot of time, too! Besides helping you cut down on operational costs, it allows you to respond more quickly to customer inquiries, requests, and demands. Moreover, outsourcing allows you to focus on high-priority tasks, and the remote team can handle all the rest – along with the headache that comes with it.