This is no exaggeration at all, outsourcing is beneficial to all – both the person outsourcing and the person being outsourced to. Outsourcing company provides a wide range of services to companies, organizations and business owners. It doesn’t matter what business task is involved, you can outsource it to a third party who would execute the task successfully from another location.
Benefits of Outsourcing to Business Owners
For businesses and organizations, outsourcing offers great benefits that include the following;
Lower expenses are one of the reasons outsourcing has become a trendy solution in the business world today. Lower expenses emanating from outsourcing stem from a number of factors. First, the outsourcing company (especially the offshore outsourcing firm) is willing to work for a far lower rate than the full-time workers.
Also, since the outsourcing provider will not work from your own business premises, you don’t have to spend money on setting up and equipping an office as you would do when hiring full-time workers. This in fact saves huge costs, including maintenance costs and overhead costs.
Access to Superior Expertise at a Small Cost
This benefit becomes more significant for the small business that can barely afford to pay experts (on a full-time basis) for areas such as information technology. So, by taking advantage of outsourcing, the cost of hiring an expert for tasks that require expertise is reduced to the barest minimum.
The reason is that technology and the internet have helped in making lots of experts in different fields available online. As a result, supply tends to outweigh demand, leading to lower costs in terms of the service fee charged by these freelance workers from all around the world. So, with just a click of the button, you can hire an outsourcing company or provider for a task that requires expertise.
Speedy Entry to the Market
The outsourcing providers work with a strict deadline in mind. As a result, you won’t have a delay in making an entry to the market with your products and/or service. So, what’s the end benefit? When you are the first to enter the market with your product/service, you will gain a larger share of the market than your competitors. In essence, you must have achieved massive sales before your competitors enter the market with their own products.
Shared Business Risks
Since an outsourcing provider is like a business partner running an aspect of your business from his own business premises, you are indirectly sharing your business risks with this partner. This is especially true when a proper contract is drawn up and signed before commencing business with the outsourcing provider.
Benefits that Accrue to the Outsourcing Service Provider
Generally, the outsourcing company gets constant work as a result of offering far better rates than the full-time worker, alongside quality outcome. It may interest you to know that the Philippines and other popular offshore outsourcing locations have grown their economy with the proceeds from outsourcing.
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