Maximizing profits during an economic slowdown or recession is possible if businesses maintain lean operations. One way to do this is by outsourcing non-core functions or business processes. Business Process Outsourcing (‘BPO’) companies of today have matured into professional businesses. Strong (both local and global) competition has driven them to increase their services level and improve business processes. BPO staff are skilled, experienced, qualified, and trained to meet industry standards.
Selecting the right BPO company is critical to the success of this type of venture. The business principles of the outsourcing firm should align with your business policies, communication should be timely and transparent, reporting should be exhaustive and prompt, and quality of work should at least meet, but preferably exceed, expectations. The right outsourcing provider could do the job much better than you, in less time and for less money.
Outsourcing firms in general can offer greater value than in-house operations for many reasons:
- They work for more than one client and therefore have a cost-effective platform
- They have the benefit of large discounts due to bulk orders given to suppliers
- They can leverage their economies of scale
Marcoing therefore recommends that companies focus on their core activities. By outsourcing costly and burdensome peripheral tasks, a company can reduce costs, boost efficiency and deliver value-added services to its clients. We advise clients on the best type of services to outsource and how to go about implementing the process.