General Business

Digital Forecast: Cloud Management Risks in Remote Work Era

The COVID-19 pandemic isn’t halting businesses to embrace the new state of remote work. Through the power of cloud technology, business continuity has been ensured  helping industries access their systems at home at any time allowing them to thrive in an unsettled time. But since no one saw COVID-19 happening and how fast it became a pandemic,  companies didn’t have sufficient time to fully establish their work set up at home and they swiftly jumped from one cloud technology to another in an attempt to enable remote work sooner.

Because of this unexpected shift, the cybersecurity and IT teams bore the weight of cloud management challenges, data security risks and struggled with under-licensed environments such as free technologies like Zoom, which is now facing increased scrutiny for their privacy and security practices. Although there are many benefits of working remotely felt by both employers and employees such as; flexibility, time-savings, higher productivity, reduced operating costs, fewer geographical restrictions and the reduction of our carbon footprint, the risk in data privacy is a pressing challenge. 

Many industries and organizations are forced to move business data from secured hardwares to the cloud so that employees working remotely can easily access this information at the comforts of their home. Non-IT employees get administrator access and control to high level business data and information that are supposed to be secured. The unavailability of technology options to secure and manage user access and authentication and the actions of employees, may be both intentional and accidental, and can add to cloud management risks.

The Role of the Cybersecurity and IT Industry in Cloud Management

The arising limitations of remote work especially on cloud storage has opened an avenue for Cybersecurity and IT companies to step up in fortifying cloud management and security to effectively prevent data breach at home. But in order to effectively address cloud management challenges, having an adequate number of support teams and talents who can remotely set up and maintain VPN servers, those who know how to utilize Microsoft Windows Server Applications, and who can configure and update necessary active directory, DNS and DHCP records and databases. 

Since companies find themselves utilizing the cloud and working with a number of unexpected and possibly unvetted cloud providers; technology and IT companies must review and update their policies to look for any common challenges that need to be addressed. They also need to have a clear understanding of their role as cloud providers and how they can roll out enhancements to their service. One of the great advantages of the cloud is that service providers can continually update their support remotely. Ensuring any updates are done in a test or non-production environment that will help security and data privacy teams fully assess any risk before introducing the new features to their clients.

But as the demand for technology and IT support increases, there is also a relative surging need for cloud management specialists such as AWS and Azure DevOps Engineers, System and Cloud Administrators and Threat Intelligence Analysts. But because of the growing demand, this could result in a limited pool of on-shore talents. Yet every company is now sourcing these specialists because of the new remote work set up. With hiring limitations in place in this high-priced job market, there is a challenge to scout for the best people to do the job with the limited training period and face-to-face skill transfer. Companies need individuals to put on board without the obligation to teach them the twists and turns of the cybersecurity industry. To put it simply, companies need those who are already experts in the field. 

Infinit-O - Digital Forecast: Cloud Management Risks in Remote Work Era

The Solution

Given that most companies are experiencing an impact in their financial resources because of the crisis, they may be looking for options in delivering their services to the clients while ensuring that they get to save on operational costs. One alternative solution that may be beneficial for companies especially for SMBs is partnering with an outsourcing company like Infinit-O, who can give you access to a team of cloud management specialists. This will help you focus on your client’s satisfaction while your outsourcing partner builds you a dedicated team of System/Cloud Administrators, DevOps Engineers, and Solution Architects with proficient knowledge of various operating systems from Windows to Linux. These teams will help you improve your department’s productivity by ensuring faster response to alerts generated by monitoring systems, quick troubleshooting availability or performance issues on your systems and streamlined approach in providing technical support to your clients via different channels like your preferred ticket system or through  telephone. 

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize your full potential. We take pride in our >97% client retention rate founded on trust and open communication. Having an extensive and profound expertise in cloud management, we’re here to help you build a great cloud management team of experts for your unique needs with up to 70% operational cost savings. You will have access to world-class talent that will be meticulously sourced and screened through our A+ Recruitment process. As your business demands shift, so can your Infinit-O team. Guaranteed operational excellence thru collaborative Service Level Agreement, metrics-intensive performance, and open communication. We are ISO 27001 and 9001 certified and GDPR-compliant, so your company and client’s data are always safe with us. 

Let’s work together in building a Great Cloud Management Team consisting of:

  • Systems/Cloud Administrator
  • AWS and Azure DevOps Engineers
  • Windows and Linux Server Engineers
  • Office 365 Systems Administrators
  • DevOps Engineers
  • Solution Architects

With a great team and a partner that understands your unique business needs, you can achieve the goals and vision you have for your company.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

2 weeks ago No Comments Views

Cyberattacks as Digital Pandemic

The World Health Organization (WHO) did not only report the increasing number of cases on the COVID-19 pandemic but also a significant swell in the number of cyberattacks since the remote work transition, through email scams targeting the general public. Sometime in April 2020, about 450 active WHO email login credentials were leaked online along with others working on the novel coronavirus response. Although the leaked credentials did not entirely put the WHO systems at risk, the attack dampened an older extranet system, used by current and retired staff as well as WHO organization partners.

According to the Modern Bank Heist research, surveyed from 25 CIOS and major financial institutions, 80% of the firms have experienced more cyberattacks which results in an increase of 13% year-over-year. Overall, the pandemic has been connected to a 238% surge in cyberattacks against banks. But because the pandemic has forced everyone to depend on the digital medium, organizations and people are forced to adapt to the current situation and this has made everyone become digitally dependent to maintain normalcy with everyday life despite the risks.

Unfortunately, only 51% of technology professionals and leaders are saying that their cybersecurity teams are equipped to detect and respond to the rising digital pandemic and only 59% are saying that their cybersecurity team has the needed tools and resources at home to perform their job effectively. The proliferation of these attacks may eventually lead to business jeopardy. Luckily, most of these can be forestalled by sound cyber hygiene and training employees on information security to increase their digital vigilance. 

The Role of Technology and IT Companies

remote work, cybersecurity, pandemic, digital

In the wake of this crisis, IT companies can invest in robust email-filtering software, mandatory employee training regarding phishing emails and building a great cybersecurity team that they can outsource from trusted partners.  In addition, companies may want to consider whether they have proper network segmentation given the limited administrative access and credential protocols, which includes but not limited to multi-factor authentication and password management systems. To adhere to this demand, having an alliance with outsourcing partners can help the technology and IT industry to respond accordingly in the digital transformation era.

As cyberattacks continue to mount during this pandemic, many businesses and companies are scouting help from technology and IT companies. The demand for cybersecurity support is as high as the need for medical allies because the pandemic is not just on physical health but also digital health. Hence, there is a need for cybersecurity and IT specialists to address this dilemma. Therefore this industry has a big role to play.

Aside from having ample knowledge on these cyber attacks, the technology and IT industry should expect a surge of technical support needs from different companies as more and more businesses are in need of advanced IT consultancy. Rapid-response support services composed of certified IT professionals and threat analysts that are committed to building and implementing the most effective cybersecurity infrastructure for any businesses is equally important to have.

Partnership and Support

And since most if not all companies are now sourcing these skilled workers because of the new remote work set up, hiring limitations arise. There is a challenge to scout for the best people to do the job with the limited training opportunities and face-to-face skill transfer. Companies need individuals to put on board without the obligation to teach them the twists and turns of the IT industry. To put it simply, those who are already experts in the field. This is where outsourcing companies come in. 

Partnership with Infinit-O

Infinit-O’s aim is to create long lasting partnerships and endless opportunities for your institution while managing the sudden demand for technology and IT support. We render a strong understanding in cybersecurity and cloud management; all utilizing the latest technology to provide excellent value for our clients. We are also ISO 27001 and 9001 certified and GDPR-compliant, so your company and client’s data are safe

We can build you a great team of:

  1. Cybersecurity Specialist
  2. Threat Intelligence Analyst 
  3. System Administrator
  4. AWS and Azure DevOps Engineer
  5. IT Technical Assistant
  6. Information Technology Team
  7. IT Operation Analyst
  8. IT Operation Engineer

All the while ensuring Key Performance Indicators:

  • high level and timely resolution of IT support and services
  • great customer and client satisfaction rating

Key benefits of Infinit-O partnership:

  • Cost Reduction

Expect high quality & productivity with a 70% saving on operational costs.

  • Scalability

As your business demands shift, so can your Infinit-O team.

  • Access to Excellent Talent

Our world-class “A+ Recruiting” process attracts world-class talent.

  • Operational Excellence

Collaborative Service Level Agreement, metrics-intensive performance, and open communication.

  • Trusted Partnership

Have confidence with our >97% client retention rate.

Let’s work together in Building a Great Cybersecurity and Cloud Management Team who can duly respond with the expanding IT needs.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

3 weeks ago No Comments Views

The Remote Work Culture in the Lens of Cybersecurity

The COVID-19 pandemic catalyzed a shift in the workplace. Companies moved the ‘normal’ office setting to working from home in compliance with the physical distancing mandated by the government in an effort to limit the spread of the virus, at the same time maintaining business continuity in the four corners of the home. Most industries and businesses are first timers in this digital set up, where teams are to collaborate, operate and communicate virtually through the power of technology. Businesses are finding ways to stay afloat amidst the crisis – continuously serving their customers while ensuring the welfare of their employees.

The remote work is here to stay.

This transition is not just a temporary effort but a more stable and permanent change. A survey from a global research company, Gartner, gathered from 317 CFOs and business finance leaders found out that 74% plan to move their previously on-site workforce to permanent remote positions post-COVID-19. The main reason that business leaders have decided to make this permanent shift is the cost-saving benefit of remote work. This is mainly from on-site technology spend, as well as reduced costs in real estate savings.

Aside from operational benefits, employees also get to save from this set up. According to a study done by online recruitment platform FlexJobs, employees get to save as much as $4,000 a year from expenses such as commuting, office meals, and other miscellaneous expenses. These operational gains along with continued productivity and maintained staff wellbeing, leaves little reason for many businesses to move back to traditional working styles even after the pandemic ceases.

But despite these remote work benefits, there is a major roadblock that companies are trying to counter. As more organizations are relying on technology to enable work to happen seamlessly, cyber criminals are lurking to attack. And since no one perceived this crisis, the digital shift was not something business had prepared for in terms of cybersecurity. As a result, this has posed heightened cybersecurity and data privacy risks with the sudden increase of users. On top of it, not all equipment that is being used at home is fortified with the best cybersecurity applications and software because the declaration of the pandemic by the World Health Organization did not allow ample time for transition and readiness to happen smoothly.

cyber and data security

The Role of Technology and IT Companies in Digital Shift

This is where IT and cybersecurity companies come in. With the expanded demographics of users, there is a definite need for technical and IT support to respond to digital inquiries, cloud management teams such as treat specialists on securing client’s business and personal data and system administrators for cybersecurity. According to CSO Pandemic Impact Survey, 61% of IT and security respondents are concerned about the increasing cyber-attacks of their employees who are remotely working and 26% have experienced increase in volume, severity, and/or scope of cyber-attacks since mid-March. 

Hence, the technology and IT industry should quickly determine how they serve other industries through cybersecurity and data protection in the wake of these challenges. This includes identifying sources (Office 365, Box, Dropbox, Yammer, etc.), the type of sensitive data (CCPA, GDPR, PII, PCI, ITAR, PHI), and the risk and exposure involved. Having a clear understanding of the technology and IT industry’s role as cloud providers will roll out enhancements to their service. One of the great advantages of the cloud is service providers who can continually update their offerings without requiring maintenance on the recipient’s end. 

Back-up Support

With the increased demand for technology and IT support, there is also a relative escalated need for IT personnel. But the challenge that technology and IT companies is the limitations of the talent pool. Every company is now sourcing these skilled technology and IT experts because of the digital work shift. And because of the hiring limitations in a high-priced job market, there is a challenge in scouting for the best people to do the job with the limited training period and face-to-face skill transfer. This is where outsourcing companies come into play. They will give you access to IT Developers, Threat and Cybersecurity groups, Penetration Analyst, Penetration Tester and DevOps Engineers and build a great team for you.

At Infinit-O Global, we aim to create long lasting partnerships and endless opportunities for your institution while managing the sudden demand for technology and IT support. We render a strong understanding & experience in cybersecurity and cloud management; all utilizing the latest technology to provide excellent value for our clients. We are also ISO-certified and GDPR-compliant, so your company and client’s data are safe.

We can help create a great team of technology professionals that are composed but not limited to: 

  • Levels 1, 2, 3 Technical Support Representatives
  • IT Operation Analysts
  • IT Operation Engineers
  • Systems Administrators
  • Threat Intelligence Analysts 
  • AWS and Azure DevOps Engineers

We can help you with 98% of High Priority trouble tickets solved within a timeline, 100% IT back up support, 100% Bug free based on client specification and 90% Completion of task as per schedule all the while ensuring high quality & productivity with a 70% saving on operational costs. 

Let’s work together in Building a Great Cybersecurity and Cloud Management Team who can duly respond with the expanding IT needs.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

4 weeks ago No Comments Views

Effectively Handle Your Business in the Time of Crisis

Overcoming business crises like pandemics is critical to your success. Here are insights on how to navigate situations like this effectively.

3 months ago No Comments Views

7 Biggest Successes of Philippines BPO in 2014

The year 2014 will come to an end in a few weeks and we can’t help but look back at how the Philippine business process outsourcing industry has fared throughout the year. Let’s take the time to review its biggest successes in 2014.

1. Ideal Investment Destination

A Singaporean government agency called the International Enterprise Singapore (IES) revealed that the Philippines is an ideal investment hub for businesses because of the country’s strong economic growth potential. The BPO industry in the Philippines is one of the top growing segments in the country, which attributed to the increase in the demand for office and commercial infrastructure. The IES also stated that the country’s talented workforce is also another big contributing factor.

2. Increase of Call Center Business

A statement released by the Associated Chambers of Commerce and Industry of India (ASSOCHAM) stated that India is losing 70% of its call center outsourcing business services to the Philippines and Eastern Europe. This could lead them to lose up to $30 billion in foreign exchange revenue if the trend continues. The Philippines’ quality manpower, lower operating costs, and high-quality services are the top three reasons seen to have contributed to this.

3. Cost-Effective Hub

Cushman & Wakefield published a research paper entitled “Should MNCs Stop Paying Rent Overseas?” It forecasted that the Philippines may soon join China and India in the ranks of viable hosts for MNCs overseas operations. Presently, China and India remain at the top for overseas operations. However, there is expected to be a shift towards other markets because of the increase in rental rates in these countries’ central business districts.

4. Improved Rankings

Despite a controversial video released by BPO company, Aegis Malaysia, promoting Malaysia as a better outsourcing destination that the Philippines, a survey conducted by A.T. Kearney revealed that the latter has actually improved its ranking against 50 other countries. The 2014 A.T. Kearney Global Services Location Index stated that the Philippines ranked seventh among 51 countries, which is two spots above its 2011 ranking, where it ranked 9th out of 50. It further indicated that despite falling in the financial attractiveness factor, the country improved significantly in people’s skills and availability.

5. Improved Global Competitiveness

The Global Competitiveness Report by the World Economic Forum (WEF) ranks the economies of 144 countries. It stated that the Philippines’ Global Competitive Index jumped 33 places this year and is now in 52nd place. The country’s ranking has had a steady upward climb since 2010 but this year’s improvement is the highest in the region since that year.

6. Significant Increase in Employment

The BPO Philippines industry has helped provide better-paying jobs since it started in the early 1990s and it looks like it will continue to do so in the coming years. It has been credited for providing jobs to one million Filipinos is targeting to provide jobs to 1.3 Million Filipinos by 2016.

7. Expected Increase in Revenues

During the International IT-BPM Summit held in Manila, Vikrant Khanna of Tholons stated that the country’s information technology-business process management industry will soon become the Philippines’ biggest earner. Its revenues are projected to hit $48 Billion by 2020, which will account for 19% of the $250-Billion global outsourcing industry.

All these achievements by the Philippine BPO industry this year goes to show that the country is indeed growing by leaps and bounds and that it is truly a prime location for outsourcing. It is exciting to see how much of the industry predictions will be realized in the coming years.

6 months ago No Comments Views

Philippine BPO Off to a Promising Start in 2015

Experts and business forecasters agree: the BPO Philippines industry is off to a bright start. Here are three articles we’ve compiled for the week that shows us an even rosier outlook for the BPO industry. One article gives us a report on how the BPO industry will impact the local real estate market and how it is viewed as a viable contender in the Asia Pacific as an investment and development prospect. Another shows us the latest Tholons report that includes Metro Clark among its list of BPO hubs in the country. And lastly, Credit Suisse tells us why it foresees a strong 2015 for the BPO Philippines industry.

Why the BPO Sector Continues to Drive the Philippine Property Market

A report by the Urban Land Institute and PriceWaterhouseCoopers predicts that the real estate sector will continue to grow alongside the growth of the BPO industry in the Philippines. Also, the Emerging Trends in Real Estate Asia Pacific reports Manila to rank higher as an attractive investment and development prospect, higher than its neighbors Bangkok, Singapore, and Taipei.

8 Philippine Cities Now in Top 100 Hubs as Metro Clark Enters List

The 2015 Tholons International Top 100 Outsourcing Destinations report reveals that the Philippines now has 8 cities in its list, with the inclusion of Metro Clark recently. Metro Manila is still going strong at second place, with Metro Cebu on no. 8.

Credit Suisse Sees Strong 2015 for the Philippines

The bank stated that the continued strength of the BPO companies in the Philippines are leading the country’s consumption-led economy as it relies less on remittances and more on revenues brought about by compensation being spent by young professionals. This is leading to “structural changes” in the investment front of.

6 months ago No Comments Views

Philippines’ Healthcare BPO Industry: 100,000 Employment Opportunities and $1 Billion Revenues By 2016

According to the January 2013 report of international business advisor and research firm Everest Group, the healthcare BPO is a “hidden jewel” of the Philippines, having grown fourfold over the past two years. The Philippines healthcare BPO’s revenues increased from $102 million in 2010 to $460 million by the end of 2012, making it one of the fastest-growing sectors in the IT-BPM industry of the country.  And it’s not slowing down anytime soon — the report also cited that by the end of 2016, the Healthcare Information Management (HIM) sector targets to achieve $1 billion in revenues and employment opportunities to 100,000 Filipinos.

The 4th Healthcare Information Management Outsourcing Services Congress (HIMOSC) last November 12, titled “Intensity 10: Propelling Healthcare Information Management to Exponential Growth”, provided a venue for key industry players, providers and the larger business community to address issues and trends in healthcare outsourcing towards exponential industry growth. One of which is the impact of healthcare reforms on the healthcare industry, that was discussed in the session “Harnessing Opportunities in Healthcare Policies.”

Addressing Challenges in Healthcare Reforms

Healthcare regulations and laws such as ObamaCare, Medicare Modernization Act, Health Insurance Portability and Accountability Act (HIPAA), and the recently-signed Philippine Universal Healthcare law, are opening up great opportunities for the continued growth of HIM industry in the Philippines. But how will the industry deal with the challenges that arise from it?

According to Jeffrey De Jesus, Infinit-O’s VP for HIM and Client Solutions Group and a panelist for the healthcare policies discussion, the projected 100,000 employment opportunities and $1 billion revenue by 2016 are doable, “as long as we have the proper information, formation, transformation, and education. The Philippines has to become an ideal place for HIM. We have to help people understand that there’s a job opportunity here.”

Information

De Jesus was joined by the Department of Health (DOH) Undersecretary Hon. Teodoro Herbosa and HCCA Health Connections Vice President for PH Operations Michael Burbach in the panel. The discussion included queries about several regulations and laws related to the global healthcare industry, specifically ObamaCare.  De Jesus states, “It opens a new horizon of opportunities. There are US companies that are looking for services that don’t yet exist.”

For proper information, the industry must have all the details to provide the best possible solution. DOH’s Undersecretary Herbosa says, “Understand what the government is doing for healthcare so you can offer the right solution”.

Transformation

For proper transformation, De Jesus cites a challenge of, “making the Philippines as the ideal place for HIM”. In an article citing Dr. Josefina Lauchengco, president of the Healthcare Information Management Outsourcing Association of the Philippines, she said that “The Philippines’ competitive advantage in the growing Healthcare BPO sector is built on the availability of talent pool, strong cultural affinity with the United States, and medical know-how that leads to good customer interaction skills and efficient delivery of niche services.”

Raise Awareness of Alternative Career Opportunities

De Jesus also adds that there’s a need to “help healthcare/medical people to understand that there’s a job opportunity here in the Philippines.” Since 2001, the Philippines has produced over 1,000,000 nursing graduates, yet a lot of them are forced to take a different path because of the lack of job openings in their chosen degree. There is a need to raise awareness among unemployed Filipino in the healthcare industry that there are alternative career opportunities provided by the HIM sector.

No matter how cliché the statement, “Health is wealth” can be, it is definitely something that each individual should take into account. Need not worry though, because we can provide your medical institution all the assistance you’ll need through our exceptional patient services such as billing, coding, and even back-office responsibilities.

6 months ago No Comments Views

India VS Philippines: Which is the Better Outsourcing Destination?

In the 2014 list of Tholon’s Top 100 Outsourcing Destinations, India and the Philippines ranked first and second place, respectively. The competition between these two countries is getting tougher as India strives to maintain leadership amidst the aggressive strategies of the Philippines’ continuously growing BPO industry.

For companies looking to outsource their business functions, it is important to note the similarities and differences between the BPO industries of these two countries. To find out which one is the better outsourcing destination, let us compare the two according to the following factors:

Manpower

One of the reasons why companies prefer the Philippines over India is due to its treasure trove of highly-educated manpower. In fact, according to the United Nations Development Programme, the Filipino workforce has an impressive literacy rate of 93.4%, whereas the Indians only achieved a rate of 61%.

Language

Providing good customer service to consumers worldwide requires customer service representatives to have excellent communication skills specifically in English. Poor English speaking skills result in difficult conversations, frustrated customers and loss of business for the company. In this case, the Philippines fare better than India because the latter’s British English accent can be thick and difficult to understand.  With English as their second language, Filipinos speak in a neutral accent preferred by most Western countries.

Culture

Filipinos are naturally hospitable, service-oriented and responsive, which are all traits necessary to have in any customer service environment. Compared to India, the Philippines has had closer ties with the Western world for a longer period of time, particularly with Americans. This is already deeply entrenched in their way of life, which is evident in the clothes they wear, the food they eat and even the movies and TV shows they watch. Because of this, Filipinos are able to relate and communicate better with Westerners.

Service Quality

India and the Philippines both offer a variety of offshore services to clients. According to an article on the Oxford Business Group though, pure voice services account for 62% of total BPO revenues in the Philippines in 2013. Initiatives are currently being made to expand service offerings in order to maintain their competitive edge. India is said to be more successful in sales and upselling services. This is said to be the reason for Aegis’ decision to transfer 600 call center positions from the Philippines to India.

However, it all boils down to the quality of service. A press release issued by the Assocham stated that India has been losing 70% of its call center business to the Philippines and Europe. This can be attributed to their problems with staff turnover of 31% among other reasons.

Industry Growth

The Philippines’ BPO sector continues to thrive each year, growing at an average annual rate of 20%. Employment has currently reached 1 million milestones and is expected to increase some more in the years to come. Estimates from the IT and Business Process Association of the Philippines (IBPAP) reveal that the industry generated US$15 billion in total revenues in 2013 and is expecting it to reach US $18 billion in 2014 and US$25 billion by 2016.

On the other hand, NASSCOM reported that India generated US$17.8 billion in 2013, which is a 10.2% increase from 2012 figures, despite losing a significant amount of their business to the Philippines.

Based on these facts and figures, we can see the reasons why India remains at the top of the list of BPO destinations. However, the Philippines is clearly gaining ground and has the potential to reach the top spot in the future.

6 months ago No Comments Views

5 Outsourcing Models Available for Your Business

The N+1 Theory suggests that there is always one more of everything. Most of the time, this is true. But there are also cases where in the +1 in the theory could provide better results. Simply take the case of finance and accounting, where the old methodologies employed by companies such as manually inputting the numbers and figures for each of the employees’ corporate finances could be definitely exceeded by its +1, which is to engage in finance and accounting outsourcing. By doing so, your company will be saved from the troubles of committing mistakes in calculating employee salaries and deductibles.

Finance and accounting outsourcing covers all areas within that specific department, including general accounting and bookkeeping and accounts payable services and accounts receivable services. It is suggested in an infographic published in Focus that both billing and accounting aspects are two of the processes that were initially outsourced to offshore solutions providers. When these administrative tasks are done manually, it definitely paints a mental picture of a tedious work process. To lessen the drawbacks of employing old and manual methodologies for the finance and accounting aspect of the business, it is highly suggested for your company to seek the assistance of an expert – a finance and accounting outsourcing solutions provider.

With the number of outsourcing companies that provide finance and accounting services today, potential clients will no longer have a hard time looking for the outsourcing provider that is fit for their businesses. There are existing outsourcing companies that offer boutique services that will be tailor-fit for your company’s processes.

Once you have identified the accounting process that you want to delegate to an offshore team, it is best if you can also identify which business outsourcing model is most suited for your business’ needs.

  • Staff Augmentation – This model allows companies to add contractors or temporary staff to a team once in order to meet the demand. In this model, the company may have complete control over their staff members and daily work
  • Project-Based Outsourcing – From the name itself, this model is on a per-project basis wherein companies outsource an entire project to a solutions provider as the latter acts as a partner to the client.
  • Out-Tasking – A shortage or cost of skills necessary to conduct a task may happen, which is why companies identify the skills – those that can be separated from the general process – and look for an outsourcing partner who can provide them and perform certain functions.
  • Managed Services – The business model that usually spans over a long period of time and is driven on a measure of value based on defining the requirements and the performance criteria basis. This is the usual model applied by large enterprises and those companies with multiple clients.
  • Build-Operate-Transfer (BOT) – In this model, the solutions provider operates the business over a period of time and then later on transfers the operations to the client.

All business models mentioned above are quite prevalent in the outsourcing industry, however, it seems that preference for both Project-based Outsourcing and Managed Services are increasing.

Before outsourcing business model, it is best to identify which among these business models are suited for your company’s needs and operational duties because once you have figured out that your current business model is not working, it is quite challenging to transition from one model to another.

About Infinit-O

Infinit-O is a outsourcing solutions provider that caters to both small and medium-sized enterprises (SMEs). Among the services being offered by Infinit-O are general accounting, accounts receivables and accounts payables.

Infinit-O assists their clients in identifying which outsourcing model is best for their business. This has helped their clients in the United States, EMEA and APAC fully maximize their outsourcing partnership.

6 months ago No Comments Views

Struggling Outsourcing Companies Attractive Targets for Acquisition

The U.S. recession has squeezed onshore outsourcing firms’ revenues. Most are experiencing dwindling client pools, lack of access to credit to finance operations, and fierce competition from offshore outsourcing providers. This makes them attractive targets for organizations seeking to increase their presence in the business process outsourcing (BPO) arena.

This is exactly the opportunity Philippine-based company Ayala Corporation has been waiting for. Recently, the company acquired bankrupt US-based On-site Sourcing, Inc. for $9 million. In an interview with BusinessWorld, Ayala Corporation chief financial officer Rufino Luis Manotok said “The company will focus on investing in the BPO industry. While its growth rate might slow down, the industry will still grow”.

Ayala’s move to buy the bankrupt Virginia-based firm seems to be a wise decision. KPMG, an audit, tax and advisory firm has just released its list of “locations to watch for next outsourcing boom”.  Two cities from the Philippines made it to the list, Davao and Iloilo.

In fact, according to KPMG the 31 cities cited in their report will challenge current well-known outsourcing locations in India and China. Emerging outsourcing destinations in the Asia-Pacific region are attractive offshore destinations for their lower costs, young and educated talent pool, and government incentives.

It’s now up to the local BPO industry to capitalize on their strengths and seize possible acquisitions that could further strengthen their foothold in the offshore market and expand market share.

On another note, India’s global IT-BPO trade body NASSCOM reacted cautiously on US President Barack Obama’s remarks against outsourcing saying US companies had benefited from outsourcing since 50% of their business is overseas.

NASSCOM president Som Mittal bashed on comments blaming outsourcing for the increase in US unemployment rate, citing the latest US state department data on employment which proves job losses in construction, retail and manufacturing were higher than in services, especially in IT. “Compared to other sectors, job losses in the US tech sector were 2.2 per cent as against the overall unemployment rate of 7.2 per cent. The US administration will not do anything that would harm its industry or economy, which is driven by the technology leadership its companies enjoy,” says Mittal.

6 months ago No Comments Views

Newsletter

Subscribe to our emailing list and get notified of the top stories on the web.

Scroll to top