Outsourcing: Increasing a Business’ Efficiency

Outsourcing is defined as sending job functions to an outside party instead of completing them internally. When a company is unable to manage everyday transactions efficiently or reach the target quota, it might be helpful to consider outsourcing.

     Image source: scutwork.com.au

In 2011, the United States Commerce Department reported that approximately 31 million U.S. employees of multinational companies work abroad. This number continues to rise as the fastest growing markets are outside the U.S.

Companies resort to outsourcing primarily as a cost-cutting measure, but it has advantages that go beyond this. A study conducted by Bain & Co. reports that the leading companies (out of the 2,000 companies that they have studied) use outsourcing in more strategic and innovative ways compared to the companies that do not have sustained and profitable growth.

Eighty-five percent of the leading companies utilize capability sourcing, outsourcing, and offshoring to improve client satisfaction, hone world-class talent, and bring fresh ideas and new products to the market faster for a thriving business.

Insufficient talent can be one of the factors that impede an emerging market’s growth. One way to solve the shortage is tapping into global talent. Aside from saving costs, this will cultivate fresh and skillful employees that can deliver positive results for the business.

Tapping global talent also widens market opportunities. A brilliant demonstration of this is AstraZeneca’s offshoring partnership with Chinese companies and universities, which eventually made it the largest pharmaceutical multinational firm in the industry of Chinese prescription drugs.

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External collaboration can also lead to faster production, which subsequently increases revenue, especially among companies with in-demand products and services. Handing off work to the right set of people will also help in-house employees devote their time on strengthening the companies’ core competencies by setting and achieving new goals.

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Outsourcing: Increasing a Business’ Efficiency

The Advantages Of Working In The Bpo Industry

Image source: dnaindia.com
Image source: dnaindia.com

With today’s wobbly economy, finding employment can be tough. Many individuals struggle with finding a career that suits their educational attainment and salary expectations. One industry, however, that offers many work opportunities for job seekers is the business process outsourcing or BPO industry. In fact, even during the most recent global economic crisis, the BPO industry performed well.

For those who are looking for employment or a new career, below are some of the reasons people choose to work in the BPO industry.

No discrimination: For job seekers looking for a great opportunity to earn well, joining t the BPO world is a great choice. And unlike in other industries, BPO companies do not hire a person based on their age, educational status, or race. As long as the person shows interest in working for the company for a long time, they will most likely get hired.

Better pay: A lot of people contest that working in the BPO industry a means having to battle with shifting schedules. However, such work setup can mean more money and better benefits for employees. This is a great thing, especially for breadwinners and those who are saving up for their future.

Image source: officesense.com
Image source: officesense.com

Work stays in the office: Teachers, for example, take home their students’ exams for checking. Sales agents have to meet their clients even after business hours. But for those who work in BPO firms, their work stays in the office. Most employees do not have to worry about doing extended work at home because all BPO work must be done during office hours.

Edmund O’Brien is the CEO of the Americas at Arvato Bertelsmann, overseeing the growth and execution of a multibillion-dollar business that delivers a host of BPO services including SCM, CRM, financial and IT solutions. For more articles on the BPO industry, visit this blog.

The Advantages Of Working In The Bpo Industry