6 Ways Outsourcing Adds Value to your Growing Company
Growth is the top priority of small companies. This entails the company’s team to focus on core business functions and developing their product or service accordingly. Unfortunately, related but outside matters such as marketing, training staff, managing IT, and problem solving could distract the top management from doing what needs to be done during the company’s beginnings. Outsourcing allows small and medium companies to focus on their growth without compromising other related matters.
According to a Pricewaterhouse Cooper survey, small companies that utilize outsourcing are able to grow bigger and faster. They’re even able to gain more profits compared to small companies that prefer to do everything in-house. Another Deloitte 2014 survey reported that more companies are opting to outsource so they can maintain their strength in the market despite changes in technology and regulations. But how exactly will outsourcing add value to a growing company? Read on to find out six ways outsourcing will work to a small company’s advantage.
Better Productivity at Low Costs
A small company’s team should focus on growing the company and its business development. Assigning additional responsibilities that aren’t within their expertise and pay grade will end up costing your company more. Small companies should also save their ongoing expenses and not add up more overhead costs by hiring more employees. But the expertise of a brand marketer or an HR executive need not be sacrificed. Outsourcing lets a small business work with the economies of scale and cost structure that lead to saving, while also providing a competitive advantage. Outsourcing another company to do your payroll, brand content marketing, and IT-related matters lets you work with the budget you have and adjust it accordingly when the time comes. At the same time, you’re sure to tap experts in these fields and tasks since they are known companies that handle these responsibilities. Both the company’s small team and the outsourced company’s productivity is not influenced by additional responsibilities or costs.
A Sharp Focus on All Matters
Because the small company has outsourced related and important tasks to other experts, the current team is able to maintain its focus on their core competencies. There’s also more than enough room for the team to take care of its key customers. The small company is also able to make the most out of its limited resources so that the company can grow and expand its opportunities, and not end up shifting its priority to other tasks.
The outsourcing company also maintains its own focus on the task assigned. By tapping an expert in the task required, then that outsourced company can do the rest of the work that could also grow your company, such as attracting and retaining customers through consistent customer service and bringing in more exposure through digital marketing. The outsourced IT company can utilize its own hardware and software so everything is running well within your own team as well.
In the Hands of Experts
While the small company’s team is focused on growing its current scope, you leave the rest of the work in the hands of experts. Recruiting and hiring highly skilled workers would require a human resources team, another field of expertise a small company probably can’t cover quite yet. Outsourcing such work lets you narrow down your options to experts that are willing to work for the company but not for the same cost required from a regular employee in another department. Outsourcing companies are experts in their chosen field and also have the resources to execute your needs in detailed matters such as customer service and marketing. Save yourself the trouble of seeking out an expert and let an outsourcing company’s geniuses be the ones to take care of other matters.
The Best Customer Service
Customer service is an integral part of any business. While a small business’s core team can’t do this themselves, an outsourced company can focus on bringing in new customers while also making sure your newly acquired ones are loyal to your brand. Remember that customers don’t just remember a quality product and service, but also how the brand treated them in the attainment of the item. Apart from the initial benefits, an outsourced company will be able to give your market continuous customer service. This means you can opt for a company that still attends to calls and online queries at odd hours, ensuring every member of your expanding market is taken care of. This assures the company a reputation of reliability and approachability, adding as well to its marketing. The served customers will be sure to recommend the company to their colleagues, friends, and families, thus expanding your market even more.
A Global Advantage
It is no longer enough for a company to simply limit itself to its current locale. Outsourcing lets a small company engage in globalization, tapping not just perhaps foreign businesses to do the work but also perhaps looking into the potential global transactions that could take place. It should be noted that outsourcing needs are expanding to other services such as manufacturing, production, and even delivery, so engaging in the globalization aspect will open up other possibilities for your business.
Saving on Staff Costs
Operational costs aren’t the only things to consider for a small company. There are other overhead costs that could easily increase, such as insurance, healthcare benefits, additional office space, and other related expenses. It’s best to keep these costs limited to the needs of a small company’s core team and only decide on expanding when the profit yields enough for expansion. Remember that the company’s focus is on the business’ growth and not the growth of expenses.
The benefits to outsourcing integral and related tasks can only add more value to a growing company. While it may seem tempting to keep operations and even costs in-house, studies and experiences clearly show that a small company can only enjoy advantages from tapping the right outsourcing company. Start looking into the right outsourcing company today, such as Infinit-O, and that small business will soon be growing bigger than expected. Contact us today!
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This article reveals the good running of the business so it is good to read and gather lessons. So I thank the author for this because I have come up with ideas for the next business to grow.