What infrastructures do they use? Are their systems reliable? Ask a potential company about their technology and backup plans in case of unprecedented breakdowns.
As companies race to scale their operations, some still opt to remain exclusively onshore, putting themselves at a competitive disadvantage to their competitors who are operating from a lower-cost offshore base. While these companies may remain competitive through aggressive process improvements and cost-cutting, their opportunities for growth and improvement are limited by closing their corporate minds to the many benefits of offshore outsourcing.
Dare to Care: Walking over 16 million steps for charity 10 Nov We recently wrapped our Charity Walk Challenge under our Kris will head our US Tim will lead operations of one of His responsibilities include overseeing general operations, developing the US business through the implementation of customer-centric strategies, as well as growing the nearshore delivery centre in the Dominican Republic.
He is the primary decision- and policy-maker for the company, formulating and executing long-term strategies and collaborating with clients, employees, investors and other stakeholders. With many years of executive management experience, Scott has held a track record for driving the success and growth of a number of start-up companies and large organisations prior to his current role.
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Acquire Home. Direct Selling. About us. One of the potential advantages of outsourcing is that contracting out work could lower overhead expenses and the need for additional in-house employees. Provides access to outside expertise. Outsourcing offers companies the opportunity to hire a vendor that specializes in a skill their company lacks. Faster service. A specialized offsite vendor may have the talent and resources to complete a task faster and more efficiently. Potential disadvantages of offshoring: Regulatory differences.
There are also foreign laws and risks that may impede standard North American business practices. Time zones. Working with overseas employees may mean having to make calls at inconvenient times in order to reach them during their normal business hours. Exchange rates. The highs and lows of currency valuation can make a significant dent in overseas transactions and may offset savings.
Potential disadvantages of outsourcing: Security risks. Entrusting an outside firm with sensitive company information may increase the chances of a security breach. Loss of control. Delegating responsibilities to an offsite vendor can make it difficult to monitor progress and maintain quality control.
Lack of institutional knowledge. A company's interests may not align with those of an external organization, which lacks the firm's in-house insights. Intellectual property concerns. Sharing ideas and data with a third party can make it difficult to protect intellectual property. What is offshore outsourcing? There are several potential benefits: Cost savings. By combining offshoring and outsourcing, a company could potentially save more money if able to take advantage of lower foreign costs and less overhead.
Territorial knowledge. Having the ability to leverage a foreign workforce familiar with its own country and markets could be useful.
Confidentiality is another legitimate concern when moving business operations overseas. Whenever possible, avoid sharing trade secrets or sensitive client data with a new offshore partner. Need a hand analyzing your current staffing strategy to arrive at the right mix of domestic and offshore labor? Start the conversation with one of our headhunters by scheduling your complimentary consultation now.
Have a question you want to be answered in a future post? Submit it by clicking here. Pete Newsome is the president of 4 Corner Resources, the nationally acclaimed staffing and recruiting firm he founded in His mission back then was the same as it is today: to do business in a personal way, while building an organization with boundless opportunities for ingenuity and advancement.
The technology available to help us work and collaborate digitally is always improving. Thanks to Privacy Policy Sitemap. Home » Staffing Corner Blog » Staffing Trends » The Pros and Cons of Offshore Outsourcing Businesses of all sizes are feeling the crunch from Covid, which means any measures that can help cut costs are on the table.
What is Offshoring? Pros of Offshore Outsourcing 1. Cost Savings The dominant reason most companies choose to outsource overseas is the potential cost savings, though it may not be as dramatic as you might expect.
Access to Specialized Expertise Specialized labor, like IT or financial services, can be expensive and competitive to hire domestically. Onsite Call Center Agents 4. Improved Focus on Core Business Tasks Cost savings aside, perhaps the greatest benefit of offshoring is its potential to free up resources that can be redirected to focus on your core business operations, which ultimately increase profits.
Cons of Offshore Outsourcing 1. Logistical Challenges Operational challenges are one thing, but even the most trustworthy offshore firms can come with logistical challenges that are an inherent part of working with a partner located halfway around the world.
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