How Offshoring Could Benefit Your Business
| May 24, 2020
It’s no secret that offshoring can save an organisation a serious amount on costs. However, if you aren’t choosing the right Business Process Outsourcing (BPO) company for your needs it can seem like it’s not worth it. You’ll end up wondering whether the savings are worth the time spent monitoring and reviewing your offshore teams work.
What if we told you that it is possible to work with a BPO that delivers quality work so your savings, just become savings?
Below are the benefits your business could be receiving when working with MVP Asia Pacific.
1. Increase your efficiencies and save yourself time
When offshoring work, your external team are generally located in a country with a different timezone to you. This can be incredibly beneficial to establish 24/7 services for your company. You are likely to exponentially reduce work lag as your team will be working while you’re sleeping and vice versa.
For example, if I’m located in Australia and have given a brief to my team in the Philippines that I need by the following morning, the team in the Philippines has a 2-hour time difference to my location. What this means is, by 7 pm AEST I will have a completed task ready for 8 am the next morning.
2. Significantly reduce overhead costs and save yourself cashflow
Having a strong and reliable onshore team to handle management, business development and other essential roles is important. However, where possible, outsourcing non-essential work could be saving your business up to 75% on overhead costs. To decide on what tasks/projects can be outsourced, we recommend sitting down with your key business colleagues and delegating what can and can’t be completed internally. From there, all you need to do is find a BPO company to service your needs.
3. Spend more time innovating and less time on admin
Admin work is single-handedly the biggest time killer across every vertical. You need to respond to emails, answer phone calls, send out invoices but how much of this work can be outsourced? Generally, most workers response will be ‘none, I can’t delegate this’. Well, they’re 50% correct. There are a number of admin related tasks that can’t be outsourced, for example, logging your time or responding to emails addressed to you. However, tasks like answering phone calls and invoicing can be easily outsourced to an external party.
4. With your time savings, invest in growth and scale your business
Once you have begun working with a BPO company that fits your needs, you will start to realise the free time you now have. With this time, it’s important to re-invest it in your business. Spend time identifying gaps and opportunities to further grow your market share.
With a higher amount of time on your hands, you have more opportunity to make your company customer-focused. This is the perfect time to gather as much feedback from your users as you can. Once you’ve gathered feedback, you can come up with a tangible plan and send it off to your offshore team for a rapid, agile approach to your business development.
There are a number of benefits that come with offshoring work to a BPO. We, at MVP, understand the concerns that a lot of businesses have with offshoring and the worry that quality may drop. This is why our process puts your needs first. We ask you to provide our team with a brief of your role, then we go above and beyond to interview and put through rigorous tests, the potential candidates. Once our team believe the candidate meets the requirements, you’ll then meet your new team member. With this process, you’re guaranteed amazing outcomes at a fraction of the price.