What Are the Benefits of Outsourcing for Small Businesses?
With the right outsourcing partner, smaller companies can focus on growing their business while remaining agile and competitive.
Companies of all sizes can benefit from Business Process Outsourcing (BPO). Yet, many small to mid-sized firms don’t realize that the services, support and advantages large corporates enjoy through a BPO partnership are also open and available to them.
If you want, and plan, to grow your organization and every aspect of your business is in-house, then every single element of the organization will need to grow at the same time. For most companies, from a financial standpoint alone it is simply not feasible.
Therefore if your organization harbors genuine growth ambitions,the moment to start thinking about outsourcing and its potential benefits is the moment when operations and ancillary elements of the business are starting to redirect too many resources away from the company’s core competencies.
And, if your company then identifies the right BPO partner – one who can demonstrate your non-core business processes as its core business and that has expert understanding of your business sector and market, there are a host of benefits.
1. Unlock capital
At its most base level, outsourcing does reduce a company’s costs while providing the same but usually better levels of service. For smaller businesses, in particular, being able to reduce existing overheads and use the freed-up capital to develop the core, income-generating areas of the business results in stronger and faster growth.
2. Greater efficiency
Once an organization ceases to undertake all of its operations in-house and focuses more ons resources, talent and capital on the areas of the business that are going to make a strategic difference, a good BPO provider will be able to flex and grow with the organization in terms of the support and services it provides relative to the financial costs of the partnership.
3. Increased agility
Outsourcing provides economies of scale that are impossible to achieve in-house and also offers access to other services and resources, from data analytics and social media management to ad-hoc teams for meeting seasonal peaks or supporting new products or campaigns. This level of support gives an organization the agility to act rather than react to situations or be able to seize a business opportunity as it is presented.
4. A competitive advantage
Because you’re free to focus time and resources on the core business and because leading BPO providers boast a global footprint, outsourcing opens the door to new markets potentially anywhere in the world meaning you don’t need to be a large corporation to challenge and compete with larger businesses.
5. Manage risk
With support from an outsourcing provider, you’re better equipped to avoid certain risks, such as investing in technologies or equipment that could become dated too quickly, and be able to operate knowing that regulatory compliance such as for data protection is being met now and will continue to be met in the future.
Identifying and partnering with the right BPO provider leaves you free to focus on your core business and gives you access to the latest technologies and business insights. It can improve customer loyalty, even as your business expands and supports you as you look to explore new markets or potential revenue streams.
Startups, small-to-medium-sized businesses and Fortune 500 companies alike that want to get closer to their customers and further away from their competitors rely on Sitel Group as their long-term BPO partner.