Outsource by BIM

Tags: Outsourcing, Strategy to Boost Revenue in 2020, Importance of Outsourcing, Core Business Processes, Digital Outsourcing, Steps for Successful Outsourcing

Outsourcing in 2020: Cost or Revenue Booster?

Tags: Outsourcing, Strategy to Boost Revenue in 2020, Importance of Outsourcing, Core Business Processes, Digital Outsourcing, Steps for Successful Outsourcing

What is Outsourcing?

Outsourcing is simply delegating certain business processes to outside companies or parties to get the job done on behalf. The outside company or party will then gather the required resources such as expert staff, equipment, and other intelligence to get the job done. Companies can outsource a number of tasks and services to ease out their processes. Tasks and services can range from manufacturing processes to payroll processing to customer service to social media management and more.

How to outsource?

Before considering outsourcing part of your business, many factors need to be taken into considerations in order to avoid the risk of failure. The most important factor is identifying the core business processes of the company.

An important Business Process refers to the core business processes that run the company. But what is the core business process and how can you identify your core business processes you may ask? The core business process relates to individual tasks that are important for the business in order to deliver consistent quality and quantity of products or services. This excludes taking into consideration the hardware, software, people, resource, or performance. Those core business processes are considered to be critical for business success and without them, the business will just not exist. That's why it is known as important business processes. But let us not go deeper than that, we will discuss more on important business processes and how to identify your business important processes in the later blog.

Here is the important part, core business processes are expected not to be outsourced. The simple reason behind this is you will be creating your own competitor in the market. If you would outsource your core business processes, it means you would give away your competitive advantage to a third party to reproduce it for on your behalf.

Rather, you should be concentrating on improving your core business processes and if you should, if deemed appropriate for your business, outsource non-core business processes. Non-core business processes are tasks that if performed poorly will not lead to a harmful effect on the company and cause it to struggle with its survival in the market.


Core and Non Core

How can outsourcing be a revenue booster?

You might be wondering that outsourcing is just another cost a company will have to incur. But no, Outsourcing non-core business processes are considered to be a revenue booster. Outsourcing will ease the processes of the businesses and will leave more room to concentrate on core business processes.

When outsourcing, the hassle of finding the right candidates and then going through the interview process, and all are erased. Therefore, the budget allocated to human resources department can be reduced or allocated to better serve for the core business processes. Not restraining to the cost, the company will be able to choose and hire already professionals in the field to get the job done. This will further eliminate training costs. As such, at BIM we provide you with the best resources to manage your social media accounts without giving you the hassle of finding candidates and training them, as we hire the most suited members for the job to provide you with low-cost high-value packages. This will impact your business by turning it to a more profitable one.

While outsourcing, physical space needs will also be eliminated for employees who would be employed if the tasks were not being outsourced. This will, further more, save on cost as all resources will be allocated and managed by the outsourcing company.

Outsourcing will also leave room for financial flexibility. There will be no need for the company to commit with employees, but rather commit with the outsourcing company and adapt to changes if needed to, whether to lower staff scale of increase staff scale, it will be done comfortably.

Focusing on core business processes will enable the business to have a greater potential to grow, as resources will be more at ease and management will be hassle free from non-core business processes.

SHARE:

Posted: May 31, 2020. | By: Admin

Our Service

We provide multiple range of services from our diversed experienced workforce leading to outstanding results. All services are tailored made according to your business model and needs.