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Outsourcing – Make Or Break Opportunity?

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Outsourcing – Make or Break Opportunity?

Outsourcing Advantages and Disadvantages

 

Outsourcing is a business practice in which services or specific job functions are done by a third party. If a company choose to outsource their services within their own country it’s called onshore and if they decide to outsource a distant country, we call it offshore. These decisions are made to save company’s costs. Outsourcing is known to offer various benefits to your business but it can also bring big challenges and expose you to big risks if negotiations and management of outsource relationships aren’t done wisely. According to the Information Services Group, the annual global revenue from information technology outsourcing is reached to 92.5 billion dollars in 2019.

 

Outsourcing work of marketing, accounts, IT, HR and many other departments can help business save money, make sure that the specific business tasks are handled by a specialist, save time and work in company’s product/service expansion. A study by entrepreneur.com demonstrated that 74% of companies outsource IT, 52% of companies outsource HR, 43% of companies outsource procurement, and 39% of companies outsource finance.

 

In an IT outsourcing process with a technology provider, a variety of operations following operations must be well discussed in advance, such as disaster recovery, network services, software development, QA testing GDPR implementation, in order to build a high-performance IT organization.

 

Here below is everything you need to know to ensure your IT outsourcing project success:

 

  • Outsourcing IT tasks / jobs must be as much structures and transparent as possible in order to overcome employees worries of losing their jobs.

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  • The main objective of outsourcing is to reduce operational costs and improve your business. This goal must be in your mind when you choose for an external provider/expertise to get your job done and so see positive results such as a reduce of a significant amount of your capital in hiring employee and equipment.

 

  • Outsourcing doesn’t mean that you have to compromise on the quality of work. An external partner would like to earn more commission and will have tendency to do their work quicker than the time a good project really needs. So, in order to deliver a good project, a balance between the quality and quantity of the services provided by the outsourced employees/firm must be well calculated.

 

  • Technology, trust, transparency and resources must be well considered before choosing any outsourced partner. Get a maximum information you need about tools, technology and experts that will be handling your project. Once you get this information, you’ll be able to select the most suitable vendor with the best team of experts and the last-gen updated technology to assist you the best with your business.

 

  • Don’t fall into the good-cost services trap. Always question the expertise of someone who agrees to professionally work on your project for amount way below average. No doubt that outsourcing is far more inexpensive than your in-house employee but it doesn’t mean that you can’t look multiple options and pay a little more to get your job done perfectly by doing a comparison of freelancers that’ll help you to get answers on questions like, how long they need to make your project, if they want to get paid on a fixed fee or by hourly, what experience they have with related projects, what type of projects have they already done, if they are able to give you references of companies they’ve completed projects for.

 

  • Communication is the key to a successful collaboration and innovation. Time, language or cultural differences must be well studies before doing business with a third party especially when it’s an offshore partner. In order to avoid a negative impact on work quality or delays in project timings, you must find time for communications to give your feedback and talk about the ongoing project.

 

As mentioned above, Outsourcing is driving tremendously economic growth by creating job opportunities, offering better standard of living, building and maintenance of infrastructure. In addition to that Outsourcing has made it possible for companies to divide their service and production processes into different elements which can be contracted and executed in an organized and cost-effective way.

 

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