No business comes without tedious tasks that are at the same time indispensable. Obviously, outsourcing has been here for a while. However, the reasons companies are outsourcing as well as what they are outsourcing is changing rapidly.
The 2018 Global Outsourcing Survey shows that ‘disruptive’ outsourcing is on the rise. You may be wondering what disruptive outsourcing is all about — it’s simply a type of BPO (Business Process Outsourcing) centered especially on leap-forward operational innovations. For most companies, disruptive outsourcing is not targeted majorly on cost-cutting but used as a tool to boost competitive advantage via organizational agility.
There are some features that are common with the best business tasks for creative outsourcing — these common features include tediousness, and at the same time indispensable in the modern economy.
Here are the business tasks you should not bother handling in-house so that you can free up time for your company or business core competency;
1: Payment Processing
In addition to being quite tedious and time-consuming, payment processing can also eat up a sizeable portion of a company’s resources. According to a research carried out by Tungsten Network, an average business spends over $170,000 and wastes 6,500 hours each year on unproductive payment process handling and practices.
The best option for companies that are international oriented or businesses that cut paper checks is to partner with an outsourcing payment processor via an outsourcing platform. This is a great way for companies to leverage technology in streamlining collections. Leveraging payment processors in-depth will offer even more powerful way to achieve payment processing — in essence, it is possible to automate invoicing via signals such as “automated proof of delivery”.
2: Customer Service
Also, companies are better off outsourcing customer service, which can be time-consuming and capital intensive when carried on in-house. Offshore outsourcing destinations are a great option when it comes to helping desk outsourcing.
In addition to freeing up substantial time for core tasks, customer service outsourcing is also a great way to cut off costs that come with setting up a call center in-house. Indeed, it pays more to outsource customer service than handle it in-house.
3: Product Innovation
Once upon a time, companies see product innovation as a task that must be performed in-house. The trend has changed so fast as these companies are now looking beyond their walls to innovate their products. Could the reason be that these companies have noticed third-party firms tend to outperform in-house innovation team?
Start with these tedious tasks in terms of outsourcing and gradually add others.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.