Depending on the market you operate in, the biggest impediment to a better bottom line is overhead. The cost of technology, maintenance and staffing that technology can be a huge burden on the profits of any company. Outsourcing has long been the modus operandi for savvy businesses, and with much outsourcing now undertaken in-country, prices are lower and quality assurance easier.
For new businesses looking to make a name for themselves, business overheads can be prohibitive – certain things, especially regulatory filings, need to be done, regardless of your operating income or resource levels. There are a few key areas that every business can dispense to outsourcing.
Printing And Printing Procurement
For many businesses, paper remains the way of life – despite widespread efforts to become a digital business first. Businesses are often keen to be able to manage the ‘whole job’ cycle, leading to inefficient and costly installations of printers for niche uses. This is a key area in which savings can be made and ties in with the wider trend of automation, mooted to save businesses $4m/year. Part-automation can be achieved with the integration of business processes into outsourcing, with a competitive market producing companies that are able to satisfy varied print and production jobs and focusing on customer service. Outsourcing printing reduces maintenance, inventory costs, resource and improves space availability at your business premises.
Startups dominate today’s small business landscape. Silicon Valley still holds much sway, but the low-impact process of creating a tech startup has led to international tech competition from Africa and Asia. The result is numerous startups that are completing their web development in their own time, on a semi-casual basis. However, as your business grows and its requirements expand – things like secure nosql databases, encrypted messages, ecommerce and the ilk – you may be putting in more time updating an out-of-date development model. Web development can be fairly expensive, with low end costs hitting $40/hr. However, you will likely be saving a lot of time and effort that be put towards growing your business and maximizing sales.
Human Resources and Administration
The HR and admin operation of many bigger businesses take up monumental levels time and money. It can be expensive, too, with a poorly operated HR function a surefire way to damage employee retention and create workplace issues. Admin functions, particularly front-end, will also have deeper felt effects as a result of issues. Customer service can be damaged before contact is ever made by poor quality of late documentation. When it comes to these tasks, technology has enabled automated HR and in the process reduced costs and increased efficiencies, creating one of the largest areas of savings for businesses – both big and small.
Outsourcing has come out of the poor light it previously sat in, when the stereotype was of poorly trained and exploited workers in far-flung countries. Outsourcing is now clean, efficient, and provides an excellent way to cut costs in your growing business.
Image from https://blsinternational.com/blog/technology-gives-bls-international-edge/