June 24, 2019
In today’s world, outsourcing has become the preferred practice for an ever-growing number of companies who choose to delegate to third party agencies and consultancies as a means of optimizing business and getting the job done.
The facts speak for themselves – a recent study conducted by Deloitte revealed outsourcing as the favoured option across a range of industries, from legal and accountancy to HR & IT – with some sectors experiencing an increased use of up to 30% in the practice within the last few years alone. This article outlines the core benefits of outsourcing, and why it pays dividends for businesses in the long run.
It’s perhaps no secret that hiring in-house staff can be time-consuming and expensive: taking on new hires always entails a plethora of hidden costs, from onboarding to provision of equipment and employee benefits. Outsourcing creates a win-win scenario in which businesses can slash overheads while simultaneously improving the quality of their work. In the Deloitte survey, 59% of respondents listed cost reduction as the primary motivator for choosing to outsource.
Focus on core functions
Outsourcing doesn’t only save businesses money – it also frees up more time for them to focus on key operations. Secondary tasks and functions are not only more costly to perform in-house, but also rather time-consuming since it often requires extensive training to enable people to perform these jobs. By delegating to third parties, businesses have more leeway to stick to their strengths, and make sure their own employees are focussing on the job roles that they were brought in to do.
Improved service and efficiency
Businesses operate more smoothly when they’re able to leverage the services of outsourcing companies. In all cases, outsourcing jobs are handed to individuals who can hit the ground running on whatever task you assign to them, thanks to a thorough and unparalleled knowledge of their respective industries. This allows for a speedy turnaround time on assignments and more streamlined work process for the client company in general.
Gain access to expert talent and knowledge
According to Deloitte, IT and finance are currently the two most commonly outsourced areas of work – incidentally, these are also fields that are being shaped by continual advancements in technology. Companies who outsource can cash in on the innovations taking place across a range of industries, as well as having access to world-class talent and knowledge which in turn encourages them to be on top of their own game.
We can help
The business world is changing, outsourcing is no longer a simple money-saving tactic, it actively helps companies keep ahead of the curve in the business environment which has become increasingly competitive.
If you’re considering outsourcing your document and data processing, please get in touch with us at Adetiq to discuss your specific requirements.