Around 8 in 10 businesses think about outsourcing a major part of business functions today. Companies of all sizes can make the most of outsourcing business processes, while it is more beneficial for small businesses today. By opting for offshore business process outsourcing, small businesses can save time, work with experts and boost the company’s growth at the same time by cutting costs. In 2021, 80% of small business owners plan to outsource business processes. If you are on the wall not sure about whether or not to outsource, here is a list of distinct benefits of outsourcing your small business today.
What is business outsourcing?
Offshore Business process outsourcing refers to delegating one or more business operations to a third-party vendor who will administrate and manage the task based on your metrics.
From social media to IT tasks, offshore business process outsourcing can be your helping hand not only for a smooth flow business but also to scale your small business.
Enhance business efficiency
“Time is money” when it comes to business and, it’s twice as true for small businesses. Small businesses can save a lot of time by outsourcing specific business tasks that require high human effort. Saving time also reciprocates as improved efficiency as the in-house team can work on more specific tasks diligently without any rush. In fact, about 27% of small business outsources primary tasks to enhance the team’s efficiency.
Considering the numbers, it is a must for small business owners to outsource certain tasks to stay on track. Working on the nitty-gritty will delay the lined up task and achieving goals becomes a tough feat.
Many small business owners have learnt that offshore business process outsourcing is crucial to focus on more important aspects of the business. If you are a small business owner unable to fit all tasks in your schedule, it is time to outsource the tasks.
Scale your business
When your business works at maximum efficiency, it becomes more valuable for the customers. When your business gets valued, you are on the right track for growth. By outsourcing, you can boost sales and skyrocket market share without compromising the quality of the product or service. Many small business owners think that offshore business process outsourcing is reserved for organisations with at least 15 to 20 employees but, it’s not the case. Businesses with even one employee can outsource the business tasks.
When tasks are delegated to respective professionals, the job will reflect perfection. In addition, offshore business processoutsourcing helps wrap a project sooner opening opportunities to proceed with new projects and take new customers on board. This lays a faster route to achieve your business goal.
Why wait when you can meet your goals earlier than you have planned?
Let professionals do the job for you
Not everyone will be a jack of all trades, even if they are, certain tasks like IT and accounting calls for a professional. It is less likely for an organisation of 10employess to possess the knowledge and practical experience in handling every business task. The small business specifically can outsource their business tasks and get a chance to work with experts in the field. By outsourcing your tasks, you can focus on your passion and play to your strengths. It has been cited that the availability and accessibility of highly qualified and skilled professionals being able to work from anywhere is a key factor for companies to outsource. When that’s the case, why don’t you work with world-class skills?
Manage a variety of business functions
The significance of offshore business process outsourcing is rooted in its ability to handle a variety of business functions. In the business sector today, small business owners delegate a number of business tasks to third-party vendors, including IT services, finances and accounting, legal work, digital marketing, and human resources.
IT services: About 27% that is above one-quarter of small businesses plan to delegate IT related services in 2021. IT service comprises everything that deals with computing technology and requires the brain of a technical expert.
Finance and accounting: Next to IT, small business owners outsource about 23% of accounting and financial tasks to efficiently manage money. Outsourcing financial tasks help avoid mistakes and in turn any loss.
Digital marketing: Another major task outsourced by small business owners is digital marketing. With digital marketing replacing a majority of traditional marketing, one-fifth of small business owners delegate to see tangible results and save some bucks.
Slash staff overheads
Instead of going through the struggle of hiring and managing staff for tasks that are not required often like bookkeepers or payroll experts, you can outsource the tasks. You can hire independent contractors instead of paying monthly salaries. By outsourcing the tasks, you can cut running costs without any compromise with quality or expertise. It also gives you a flexible opportunity in times of climate and calendar changes. When you take a close look at the numbers about 33% of small business owners are motivated for flexibility. If you are looking to work with short-term experts, offshore business process outsourcing is the best option for you.
Outsource as per your need
Globalization has become the reality of business today. Globalization is not only reserved for enterprises but also for small businesses, thanks to outsourcing. Offshore business process outsourcing opens the opportunity to get in touch with companies at both domestic and international levels. Are you wondering how it is possible? It is possible through different outsourcing options such as onshoring, nearshoring and offshoring. Based on the market you aim to capture, you can choose the type of outsourcing. You can choose an offshore business process outsourcing company by asking the following questions:
- Is the project simple or complicated?
- Does the project require working with sensitive information?
- What is the budget?
- In the case of offshore outsourcing, is working across different time zones achievable?
Outsourcing business process tasks has become more of a norm today considering the numerous benefits to small businesses. If you have a tough time delegating the tasks and achieving growth, consider offshore business process outsourcing selected tasks to a trusted service provider.