Where Does Your Business Need a Boost? Does Outsourcing Fit?

While outsourcing has been around ‘forever,’ that doesn’t mean it’s a static industry. The field has gone through ups and downs over the years, tracing its roots way back before the industrial revolution. For instance, early outsourcing arrangements focused on speeding repetitive processes, such as in manufacturing. Or look at offshore outsourcing. The practice somewhat fell out of favor in the early 2000s after a rush of companies turned over software development and customer service roles to offshore companies – with mixed results. Their goals were primarily centered around gaining access to skilled software development teams and cutting costs. 

Fast forward – outsourcing gets more strategic 

How we see outsourcing today continues to evolve. Many business leaders now see it as a way to gain strategic advantage, enhance and amplify new processes using technology, not just as a way to save money. It’s a practice big and small companies are using to propel profitability and efficiency – most importantly, helping organizations focus on core ROI activities. 

What to consider if working with a third-party

That’s probably why the growth in this market continues to explode – it’s doubled in size over the past eight years. So if you’re considering hiring a third-party service provider – so your core team can stay focused on what they do best – what do you need to know? What areas make the most sense to farm out to experts? Let’s look at top trends that may help shape your thinking. 

  • Beefing up social media presence and customer service – Social media started as a consumer application for staying connected with friends and family. Today, however, it’s a full-blow business tool for connecting with customers, delivering customer service, and building brand loyalty. For many companies, it’s part of their full-blown customer experience strategy. But how can SMBs keep up with social media marketing and integrate with customer service channels? The answer for many is outsourcing. A social media partner can help you build out your company’s online presence and leverage social media tools and analytics to optimize campaigns, better support current customers, and move potential customers through the sales funnel. 
  • Improving transparency and maintaining compliance – Today, no matter what industry you’re in, you have compliance rules you need to follow. Those may include PCI DSS Compliance to safeguard cardholders’ data, HIPPA to maintain patient info, or other financial guidelines. The challenge is these growing compliance rules require experience to understand and navigate. That’s why many organizations are turning to third-party suppliers for support. An external compliance team can alleviate the pressure to hire a full-time, in-house team. Going this route can also give companies immediate access to sophisticated compliance programs and systems, such as compliance analytics, which may otherwise require a significant in-house effort. 
  • Cybersecurity – Relying on a trusted expert for cybersecurity services remains a smart choice in the year 2020, primarily as businesses look to reduce risks and shift to a highly remote workforce. This approach allows companies to stay more agile and save money, while still receiving high-quality security services. The right security partner can deliver dependable technical support, an external layer of protection, and higher business value by keeping your company security architecture robust. By hiring cybersecurity experts, organizations can be confident knowing they’re getting a team of knowledgeable individuals with experience in encryption, firewall protection, anti-malware, endpoint protection, and threat monitoring tools that can stop threats from getting past network defenses. 

The future of work

There are many outsourcing options out there, but they’re not all right for every business. The key is to invest in a company that treats the arrangement like a true partnership and understands not just your project goals, but also your strategic goals for outsourcing in the first place. If you want to learn more about how the right partner can help you reach your full potential, email us! At Outsourcive, we offer customized solutions, and we pair those with stellar customer service. Let’s talk!