Offshore outsourcing has come to become an effective and popular business strategy in the recent times. In fact, offshore outsourcing has been quoted as the savior of recession-ht markets and businesses across the world seek out new and cost effective alternatives to traditional business processes.
Companies who has adopted offshore outsourcing earlier have realized the importance of globalization and the potential advantages it has on business enterprises. Leveraging technology helps businesses gain a competitive edge, at the same time helping them save money. And more often than not, it came at the expense of small businesses.
At a time when large MNCs were catching on the opportunity and used it to improve their competitive advantage, the small businesses were at a major disadvantage. Small and medium sized businesses adopted offshore outsourcing and hired external service providing companies or individuals do their business processes like accounting, pay roll, benefits administration, marketing, web development, printing, data entry and so on.
Offshore outsourcing is not just about cutting costs. In fact, it has much more to it. Companies can gain massive advantages by employing offshore outsourcing for their business. Here are some very basic ones:
This is the most obvious advantage of offshore outsourcing. Small businesses often need to control their costs in order to keep their businesses running smooth in the turbulent economic atmosphere. Also many of them seek to expand their business without increasing their capital costs. In these scenarios offshore outsourcing is the best bet one can have. Service providers located in offshore countries offer their services at a much cheaper rate than what it would take for you to conduct the same processes in house.
Help for Short Projects
Often SMEs get one-time projects for which they need the skills that they don't posses in-house. In such circumstances, it is not advisable to hire new employees just for a limited duration. Offshore outsourcing enables you to hire service providers of skilled professionals who have the required skills and expertise to complete the project for a limited period of time or as long as the duration of the project.
You may often require specific expertise for your project that you don't have in-house. In such situations you can simply outsource your work to offshore service providers
Outsourcing service providers have efficient manpower and resources and help you to resolve your project problems quickly and efficiently. Also, they have significant experience in the industry and would apply their knowledge for the improvement of your project.
Improved Efficiency in Projects
Offshore service providers have economies of scale that can benefit your business while you can focus on your core business objectives. A good outsourcing service provider that has a global reach can provide you with some lucrative business opportunities.
Gain Competitive Edge
In order to succeed in the saturated market of the present times, you need to have a competitive edge over other players. Offshore outsourcing can help you do that. All you need to do is find a professional outsourcing service provider that can give you this competitive edge that was once available only to larger companies.
Maneet Puri is the managing director of LeXolution IT Services, a professional IT Services company based in India that deals with a a range of Knowledge Process Outsourcing services like internet research and virtual assistance services. He has been associated with the offshore outsourcing industry for more than 10 years.