Outsourcing is rather broad. We know that outsourcing your non-core functions will let you save up to 70% on costs. However, that is only possible if you avail of the right outsourcing type. Outsourcing at the least will be able to let you save from 30% to 70% on costs. The question is, is outsourcing some of your business tasks really that simple?
As mentioned, outsourcing is rather broad. Before you decide to outsource, you need to know more about the outsourcing types and processes. It doesn’t simply have to call an outsourcing provider and let it go from there. As they say “knowledge is power”, learning more about outsourcing and just its basic components will surely confuse more than help you.
For instance, on the get-go, do you know that there are 3 types of outsourcing solutions? Knowing which outsourcing solution to invest in will push you towards your goal.
Types of Outsourcing Solutions
Local Outsourcing
Local outsourcing is the type of outsourcing solution wherein you hire an outsourcing company in your area or within your country. This outsourcing solution while certainly ideal for you as you can meet them face to face whenever you need to is not that cost-efficient as outsourcing to other countries is. Certainly, you can avail of the services most business outsourcing providers do, though usually, this type of outsourcing solution is rendered when you need IT support. Which is ideal for you as you can monitor the outsourcing company in real-time. Aside from that, you have the same time zone which means that communication is not going to be a big problem.
Nearshore Outsourcing
Nearshore outsourcing is where you partner up with outsourcing companies in the countries near you. Nearshore outsourcing has not caught up that much in terms of cost-efficiency. It does have the same advantages as the local outsourcing in terms of the time difference, broad specialization, cultural closeness, and environment. As some European countries such as Poland, Ukraine and more are popping up in the continent.
Offshore Outsourcing
Now, this is the outsourcing solution type that most American and European companies prefer. Offshore outsourcing in developing countries like the Philippines, which is the top outsourcing country at the moment, is not only cost-efficient but also able to overcome most of the setbacks of being far from their clients such as timezone difference, broad specialization and wide range of services. You may not be culturally aligned however that is easily remedied as most Asian countries can adapt easily and assimilate. So far this type of outsourcing solution has flourished over the years and predicted to be an economic boost for these developing countries for years to come.
Outsourcing is indeed a business venture that is necessary for growth. While it sounds simple enough, one can only be too careful. Learning as much as you can and weighing down on the pros and cons of a decision is a great step. And choosing the right offshoring provider for your business is what will push you towards the success that you are aiming for. Offshoring outsourcing in the Philippines guarantees a high percentage of meeting all your requirements and delivering with world-class service.
Virtual Colony is a Philippine-based outsourcing provider that provides offshore outsourcing solutions. The company offers a variety of business processes that you can outsource such as Insurance support guided by licensed property and casualty agents, Sales and Marketing, IT and Tech Services, and Finance and Accounting. They are located in a regional area of Malolos, Bulacan that has an abundant talent pool that they have unlimited access to.
