by: Mary Christine Galang
Tuesday, August 1, 2017 |
Offshore outsourcing today has provided businesses – big and small – with valuable opportunities to grow. Primarily, outsourcing became a practical option in order to cut costs, but eventually became a strategic way to improve business processes and generate profits.
The Philippines, in particular, is one of the top destinations in outsourcing. Australia is governed by regulations that aim to protect their public sector, telecommunications, and financial services – all of which involve private data. This makes outsourcing to the Philippines ideal in its guarantee of protecting sensitive and confidential data, due to the existing Data Privacy Act.
Below are ways small- and mid-sized businesses can take advantage of outsourcing:
Save on costs
By outsourcing your business processes to an experienced/specialized third party provider, you will get the same quality results from a traditional in-house staff, minus all the standard employee compensation packages that come with it. Not to mention, it will boost productivity at lesser the cost. You will also save on making large expenditures on operations for as much as 70%. This involves office space, recruitment costs for new hires, and IT infrastructure.
By choosing to outsource, you are mitigating risks and sharing them with your outsourcing partner, which they assume and manage for you. This is especially true for start-ups and smaller businesses that are not as fully equipped compared to their multinational counterparts. They anticipate any possible risks and also give you advice from a fresh and outsider's perspective.
Gain more control
Outsourcing allows you to avoid long-term commitments (and therefore, higher risks) and give you more flexibility in your operations. You are more confident that every dime is well-spent and each task is paid for accordingly.
Establish presence in local markets
It is not always that SMEs can expand their business, but outsourcing offers that possibility. Not only you have access to global talent, you will also gain insight on their operations.
MicroSourcing prides itself as a reliable and efficient SME partner for outsourcing business processes. We have supported hundreds of SME clients in various capacities. Contact us today to start growing your business!