Friday, September 2, 2016

Top Three Reasons to Consider Outsourcing

Outsourcing is the process of delegating the non-core work of your business to third party service providers and freelancers, allowing your business to experience benefits ranging from lower labor costs, and improved quality of products and services.

In the early days of outsourcing, cheaper labor costs was the main reason why most businesses considered offshore outsourcing, as it was more cost-effective to outsource business processes to third world countries, such as India, where the cost of living was significantly low. 

But today, with the growth and expansion of the BPO industry, cost-effectiveness isn’t the only advantage it can bring to the table.

Why Should You Outsource?

In his treatise titled “The Wealth of Nations” the economist Adam Smith said, “If a foreign country can supply us with a commodity cheaper than we ourselves can make it, it is better to buy it of them.” That same idea, which has existed since the early days of trading, is also applicable to outsourcing today.

Here are some of the reasons why outsourcing can be helpful to the growth of your business:

Outsourcing Allows Your Business to Focus on Its Core Business Processes

Outsourcing non-core business processes, such as those which are repetitive and require an extended amount of time, will allow your business to spend more of its valuable time and resources taking care of core business functions instead. This means that the management of non-core business activities such as call center operations, accounting etc. are transferred to your outsourcing partner. In turn, your company will be more able to focus on the areas that are critical to your business, thus improving its efficiency and effectiveness.

Outsourcing Saves You Money in the Long Term

Cost reduction is one of the most critical driving factors for businesses to outsource. Depending on your goals, outsourcing can bring your company a lot of benefits, ranging from flexibility to expand operations as and when they are required, reduced capital outgoings and potentially less expensive labor costs if you were to consider offshore outsourcing.

Outsourcing Leads to Better Service

Most business owners underestimate the ability of outsourcing to improve the quality of their products and services. Why waste precious time and resources training an in-house customer service team when you can just hire professionals for a cheaper amount of money? Information Technology, HR Functions, Accounting and financial services are just some of the most commonly outsourced jobs, and outsourcing companies have been mastering those specific fields for years. Allowing an offshore company handle your non-core business operations usually results to better quality of service.

Knowing which business processes to outsource allows your company to take the full advantage of this amazing and effective strategy.

Let us take care of your outsourcing needs, visit our official website to learn how we can help improve your business further. Here at Exo Management LLC, you are our priority!

Thursday, September 1, 2016

Reasons to Outsource Human Resources Functions

The trend of outsourcing human resources functions to third party companies and service providers has been more popular in the recent years, and there is a big reason for that. It is believed that delegating these time-consuming tasks to outside agencies can bring several benefits to your company, which will have a great impact to your company’s bottom line and efficiency of services.

An organization’s HR department is responsible for a broad range of functions, such as administering the employee’s payroll, tax filing and employee benefit and health administration. The department is also responsible for the legal compliance, maintaining files and records, and training and development. For several companies, the responsibilities of the HR department are too vast and complex to maintain in-house. That makes outsourcing a smart move if you want to focus on reaching your business goals.

By allowing outside agencies to handle the HR functions of your business, you can acquire a vast number of benefits for your company. Here are some of them:

Cost Savings

What company doesn’t want to reduce expenses? Finding a good HR outsourcing firm can allow your business to save more money, as outsourcing human resources functions to outside agencies costs significantly less than hiring an in-house HR personnel.

Focus on Core Business Functions

Letting the outsourcing companies take control of the administrative tasks enables you to focus on the company’s core functions, allowing you to allot more time on the most critical part of your business – increasing its revenue.

Increasing Business Efficiency

Allowing third party service providers take care of the HR functions of the company allows business owners increase efficiency and effectiveness of the employees. Advanced human resources technology used by outsourcing providers help streamline critical HR functions, which includes payroll, benefit administration and compliance management. It basically helps employers and managers spend less time doing paperwork, freeing more time to dedicate on improving the efficiency and productivity of the workforce.

Save You from the Hassle of Hiring Effective Employees

It’s pretty difficult to find qualified applicants for critical positions, especially when no one seems to meet your standards. Outsourcing saves you from the hassle and expense of searching and training a new employee. Companies that offer HR outsourcing and other services usually employ qualified and highly trained individuals ready to do the job efficiently and effectively.

Let us get the job done for you. Exo Management LLC can provide the services you need to further improve your business. Visit our website to know what we can do for you.