For many businesses, the question whether they should outsource a part of their operations might have popped up at least once during their planning and meetings. Be it for IT, medical, legal or any other sector, outsourcing is a great relief and solves many internal operational issues. Businesses outsource bulk document scanning, survey data entry, medical and legal transcriptions and other requirements to the numerous companies offering outsourced solutions. While there have been no speculations about outsourcing being a saviour for many businesses, there are debates going on about its sustainability. Data entry and payroll operations were the first to be outsourced and these involved lower risks. Later, outsourcing evolved to capture the customer-service. This set a trend and businesses saw huge opportunity in the outsourcing world.
The adversaries of outsourcing companies claim that there is no quality in the work delivered, and everyone involved works in the same pattern – without being innovative. Also, with the rise in demand, the salaries are also increasing. Though these negatives are being pointed out by many, the outsourcing trend has been on the increase. It’s been well-accepted by all, regardless of the size of the company, whether it’s a start-up or large enterprise, to attain a competitive edge.
In this age, businesses and brands are moving towards the cloud, mobile and social to reach their customers and increase their growth; and stakeholders are moving global – geographically. Such is the constantly-changing situation and outsourcing is adjusting with this environment pretty positively. One core reason why outsourcing is still in the scene is because these very businesses – whatever be the sector – still believe outsourcing changes the way their business operate – by giving them more time on their business planning, and allowing them to function cost-effectively.
Future Trends of Outsourcing
Consider we are about to face an economic crisis. Affordable outsourced solutions can help businesses survive because they help them manage core processes efficiently. It is up to the company to choose the right outsourcing agency they can trust with their operations- they need to check the specialized skills, and decide whether it will be viable for them to save their effort and time. Reliable outsourcing solutions are sure to survive the test of time and benefit businesses in many ways.
- In the future, one thing can be assured: Whether it is a SOHO (Small Office/Home Office) or a large enterprise, outsourcing will witness a huge demand. These businesses can spend more time on their core business, and reduce workforce and operational inefficiencies.
- Custom outsourcing contracts that are flexible in their service level agreements (SLA) and scope of delivery are very likely to be the future trend, a consequence of cost pressures.
- Seeing the current condition in some Europe and Latin American countries such as Brazil, in the coming years, they are sure to give some tough competition to the Philippines and Indian outsourcing markets.
- Sectors like medical and pharmaceuticals are bound to move to countries offering better services at lesser costs.
- Outsourcing has evolved through the years and become more standardized. It’s not merely about payrolls or call-centres. From human resources outsourcing to legal transcription outsourcing, the services have come a long way. It is more people and process-driven rather than price-driven. This is sure to ensure it a good future.
- In the span of the next 5 years, more core business or high-end functions may be outsourced, and outsourcing of low-end services like data-entry and customer service will even out.
- Huge rise in physical raw materials, oil and transportation costs will also lead to a boom in outsourcing.
- With more businesses embracing cloud outsourcing, support and development will increase.
Outsourcing is here to stay. What better way is there for companies to enjoy access to specialized skills and experience, and at the same time save considerably on time and effort?
Ready to take the next step in improving and managing your business? Our outsourced solutions are designed to efficiently handle your specific needs.