Key Indicators for Smart Outsourcing Decisions
Is your company ready to ramp up to the next level?
With the demands in digital transformation reaching an all-time high, business owners are constantly challenged to navigate their enterprise into the digital future by making smart outsourcing decisions.
Business process and knowledge process outsourcing (BPO-KPO) can make a significant impact on your company’s bottom line. It minimizes overhead costs, attracts innovative expertise, and helps you focus on your core business competencies.
If your company is undergoing rapid growth rate, experiencing complex workload, or handling several roles at a time, this can be the perfect opportunity to get a BPO-KPO outsourcing partner.
The following are key indicators to consider in making smart decisions on whether or not to outsource tasks in your business.
A. Create an Outsourcing Decision Matrix
This matrix focuses on the most important factors you should consider about outsourcing business processes. It involves three steps, namely:
- Identify Strategic Importance
Study the strategic importance of the process or task to your business needs. Analyze if it will deliver better advantage over your competitors, create unique business proposition, or play a vital role in your products or services.
- Evaluate Contribution to Operational Performance
Evaluate the importance of this process to your company’s daily operation. Identify its impact on your operational performance. Will it contribute to the smooth running of your business operations or cause disruptions?
- Plot the Process on the Matrix
Plot the main processes on the matrix. Place the strategically important tasks on the vertical axis and the key operational performance indicators on the horizontal axis.
The resulting process quadrant can offer you a strong indication as to whether you should perform the following: Form a Strategic Alliance, Retain, Eliminate, or Outsource.
B. Sustain Core Competencies
Focus on your core business tasks for maximum control. Retain in-house activities that differentiate your company from competitors. This include knowledge-intensive processes, such as product design and development, professional training, and managerial decision making.
C. Outsource Specialized Skills
Whether you’re a small or medium enterprise or a large retail company, you’ll need a scalable workforce with specialized skills to meet your specific needs. Outsourcing processes that require specialized skills are less expensive than developing them in-house. An expert BPO-KPO company can effectively manage the top performing team tailored fit to your requirements at a cost-effective fee. It makes sense to engage in popular outsourcing tasks which frees up much of your time.
When you outsource with Infinit-O, you’ll enjoy endless opportunities, perpetual benefits, and lifelong partnership. Outsourcing should be on your top bucket list of priorities this year to keep your company moving forward.