How Strategic Outsourcing Will Benefit Your Business
In the era of entirely online business workflows, there are a myriad of avenues for yourself as a business owner or manager to increase profitability, improve efficiency and sustain your market share when compared to competing businesses.
One of these key online workflows is the hand-off or outsourcing of tasks to contractors to enable your business to focus on higher-paying or higher-return work. Whether you’re interested in building out your service offering or simply getting more work done in a shorter period of time, there’s little better than outsourcing.
It’s good to keep in mind that full-featured project management solutions like PMO 365 and similar platforms enable an all-digital solution to keeping a close on all of your delegated tasks — no matter where or to whom they’ve been delegated.
All this in mind, let’s take a look below at how to be calculated in your outsourcing and how strategic outsourcing will benefit your business.
What is Strategic Outsourcing
Before we take a look into how strategic outsourcing can assist with growth, we’ll first take a peek at what this process is and what it involves.
To keep things simple, your strategic outsourcing activities will essentially involve handing off either low-value or low-priority tasks to a third-party in order for your organisation to better focus on higher-priority or value-adding tasks.
As you would agree, this can be an outstanding way to build profit and continue a brand’s trajectory in the business field without needing to go through the process of hiring a number of new staff members.
To add, when being strategic in this process you’re able to locate and delegate tasks to those with better dexterity in the skills required for these tasks. This will mean you’re essentially getting a better outcome for your client or customer base, without needing to hire costly, specialised staff members.
All that said, let’s take a look at a few key benefits.
Better Utilisation of Internal Resources
Once you have delegated those specific and possibly rather complex workflows to specialists outside of your business, you’re able to make better use of the workforce you’ve employed.
With that said, you’re able to continue to work on other tasks at hand and also free up time for your staff members to get to work on company goals. This could be working on client retention or building new relationships with potential customers.
That said, you will have a better chance at improving your efficiency once those extra tasks are outsourced.
Operational Costs Are Reduced
As you’d expect, when outsourcing specific tasks to third-parties, you’ll be able to rely on these experts to have their own tools, office space and other essentials.
With this in mind, you’re essentially doing away with the need to invest in new workplace computers, extra office space, training and a tonne of other costly essentials that would typically come with the hire of a new staff member.
To go hand in hand with this, you’re also able to rely on this third-party’s expertise when branching out to new customers. Once you have another expert on your books, you’ll be able to offer their services to clients and build out your service offering with zero training and no added in-house costs other than the cost to pay the professional you’re outsourcing too.
Added Time to Focus on Other Business
In a similar vein to resource use, you’ll also have added time to work on the core points of your business. Of course, your staff are going to be working on the service offering, though when you outsource you’re going to free up time for everybody involved in the organisation.
That in mind, everyone is going to have a little extra time to work on the expansion of services, customer outreach, CRM and just about anything else.
All of the human interaction processes which would have had time taken from them to offer a specific service are again freed up — a big plus for everyone.
Access to Professionals Outside Your Area
When it comes to being calculated and strategic in your outsourcing activities, you’re able to find ‘hidden’ professionals on the market across the globe, which means offering solutions to local customers that they wouldn’t have been able to find on their own.
As an example, if you’re in a small town, there’s a pretty high chance that there aren’t too many business development and expansion professionals.
That in mind, you’ll be able to find someone who offers these services online and add them to your business’s service offering — and delegate these procedures to them.
This will mean you’ve added a service in your locale that no one else has, making you a lot more competitive.
Now that we’ve taken a look at a few of the ways outsourcing can benefit your business, you’re able to see that you might have a lot more wiggle room when it comes to finding some added free time to focus on your core businesses activities or to free up some time for your staff members.
In most cases, outsourcing is an affordable and highly-effective way to add additional services to your business and to offer clients more complicated solutions and get them the results or product they’re after.