Offshore Practices
Decide what to outsource
Introduction
When you contract out business functions to a third party over a substantial period of time it's known as outsourcing. You hand over control of that function to another company that takes responsibility for its success.
Outsourcing allows you to concentrate on what you do best, save money, be more flexible and manage growth effectively. It also allows your business to gain access to outside expertise and technologies.
If managed effectively, outsourcing can help your business reduce its costs and gain access to outside expertise and technologies. However, you will need to carefully consider whether the benefits of outsourcing a function outweigh the costs. The process will have to be properly managed and monitored. Remember - anything done on your business' behalf will reflect directly on it.
This guide shows you how to decide if outsourcing is right for your business, find the right partners for your business and get the best from outsourcing.
Should I outsource?
The benefits of outsourcing can be substantial. Aside from cost savings, there are other gains your business can make. You need to consider the following:
? Will outsourcing free up your business to focus on its strengths? This might produce tangible benefits -allowing your staff to concentrate on their main tasks and on the business' future strategy.
? Will it improve your efficiency or customer service? The outsourcing company you choose should be a specialist in the process or service you ask them to carry out for you.
? Will your business gain a competitive advantage by outsourcing? Outsourcing can bring flexibility to a business, turning fixed costs in ...