The Advantages & Disadvantages of Offshoring Your Business Processes
Choosing the right BPO is crucial for successful offshoring. Read our latest blog post to discover the benefits and potential risks.
4 | June 30, 2021
Choosing the right BPO for your business is crucial for successful offshore outsourcing. A good partnership can provide your organisation with reduced costs, higher efficiencies, and more time to focus on the day-to-day running of your business. Without the right relationship, however, you may run into some potential risks or unexpected challenges.
The benefits of offshoring
Outsourcing your business tasks and processes to an offshore company can help save you time, money, and stress. We’ve outlined the top reasons to choose a BPO for your business.
- Reduced overhead costs. By working with a BPO, you’ll be able to delegate tasks to an offshore team that is able to complete your work to the same standard as their onshore counterpart but at a reduced cost. Office space, equipment, and training are all covered by MVP, so your organisation won’t have to wear these expenses.
- Focus on core competencies of the business. By outsourcing tasks such as admin, web design, accounting, and more, you can free up your time to focus on the key areas and day-to-day running of your business.
- Industry-standard resources. BPOs like MVP are specialists in a number of different tasks and industries, meaning they have the resources and equipment to complete tasks to a high standard.
- Increased speed and efficiency. MVP has years of experience across a range of different industries. Because our MVPs are specialists in their fields, they are able to focus on providing processes at the highest levels, with greater accuracy, efficiency, and speed.
The potential risks of offshoring
Choosing the wrong BPO can be challenging and can even lead you to wonder if it’s worth it for your business. There are a number of risks associated with outsourcing your business processes to an offshore team member, which you should consider before choosing an offshore team.
- Data security. Completing sensitive tasks or processes from an offshore office can create the risk of data security breaches, privacy risks, or lost data. MVP combats this by utilising a number of strict safety measures and confidentiality processes.
- Communication issues. As with any new team member, you may face issues of miscommunication. This is particularly noticeable when you factor in potential language barriers. At MVP, we encourage relationship building with your offshore team member and ensure you are paired with the best staff member for your business.
- Monitoring & revising. Communication barriers can lead to misinterpretation of tasks, meaning you may need to spend more time revising or monitoring your tasks. Successful offshoring should be efficient and save you time, not add to your task list.
The different types of BPOs
Offshoring has traditionally been used for data entry and admin, however, the list of outsourced processes continues to grow. MVP’s team specialises in a range of different industries, helping organisations around the globe improve their processes and efficiencies. Some of the areas we can help you with are:
- Accounting & finance. MVP’s accountants can take care of your organisation’s accounting and finance tasks, from bookkeeping and loan processing to financial analysis.
- Customer service & data entry. From outbound agents to live chat support, MVP is here to help you with your customer service and data entry tasks.
- Software and web development. MVP’s web developers specialise in frontend to backend, .Net to PHP, and everything in between when it comes to software and web development.
- Admin and virtual assistants. More and more businesses are offshoring their admin tasks. Your MVP team member can support you with virtual assistants, QA testers, and general admin.
- IT & Cybersecurity. From IT management to cybersecurity, MVP can keep your IT processes and software up to date and secure.
Why you should choose a BPO in the Philippines
A BPO in the Philippines like MVP can help to mitigate the potential risks of offshoring for your business. Being in a similar time zone, the Philippines is the ideal offshore location for Australian businesses. You will benefit from overlapping office hours, meaning you will be able to contact your offshore team member throughout the workday. MVP works with businesses all over the world, and our team has experience working with different cultures and communication styles. Your MVP should feel like another team member, only remote.
How MVP Asia Pacific can help you
Choosing the right team to manage your outsourced business processes is crucial for successful offshoring. MVP Asia Pacific follows a strict hiring process and pairs you with the best MVP based on your needs and requirements, ensuring your remote team member is the right fit for your team. If you think a BPO in the Philippines could help your business, contact the team at MVP Asia Pacific today.