With organizations across the world waking up to the importance of gathering multiple digital services under their wings, they have also realized the relevance of outsourcing. The companies understand that they can provide a service without having a dedicated in-house team assigned to it; which is what outsourcing is all about.
Not only that, outsourcing jobs other than your core procedure, helps you align with the tasks at hand. You may need time to look back and inspect the ideas. Also, outsourcing can provide you the much needed time to plan, think, and assess aspects like competitor research associated with your business area.
Top 10 Business Areas Easily Outsourced
Attempting to outsource services allows a firm to accomplish numerous core targets along with catering to new clients. It is said that any service or business process which can be offered from an off-shore location can be outsourced.
We bring to you some of the most popular areas that a company can easily outsource. Let’s dive in.
- IT Management: This makes up for a large chunk of the outsourcing industry. For perspective, towards the end of 2019, the outsourced services in IT had crossed over to $85 billion. The gigantic numbers are indicative of the number of services being outsourced within the IT framework. With multiple options available in terms of firms that offer on-demand services, you could easily outsource some of your work to a service provider.
- Accounting and Bookkeeping: We know for a fact that all businesses, big or small, need accounting. This makes it one of the top areas to outsource. It could be effectively helpful if you are not a financial expert. As learning the skills and the other nuances related to accounting could be extremely tedious, it would be rather wise to hire an adroit accountant. Not only will they help you with compliance policies but with their comprehensive knowledge, they could come up with better ways to improve your business outcomes.
- Sales: It is important to make an effective sales call as that gives the customers an idea of your product or service. Without having an efficient sales team, chances are that the product may not get as much exposure and acceptance as it should. If having in-house sales personnel is a handful for you, then an expert sales professional could achieve it for you. Outsourcing the sales calling service can be advantageous as you could focus better on the jobs you already have at hand.
- Marketing: The fastest growing businesses in the world are the ones that have an expert marketing strategy. If you do not have an in-house team for the job, outsource it to a credible marketing firm. They create digital pamphlets, generate attractive content, and also look into posting ad material on the various social media platforms for you. Also, with their creative expertise, they could add some exceptional and out-of-the-box ideas which may not have been possible otherwise. Besides, they could assist you with ways to manage your marketing strategies despite the pandemic.
- Admin Jobs: The administrative tasks comprise virtual assistants or VAs which are possibly the least expensive business area for outsourcing. Most often you would meet a solopreneur who extends his services in the area from his home. Their services include managing your inbox or scheduling certain tasks on your behalf. Their services may charge from the range of $10 to $75 based on the skills and type of service demanded from them.
- Manufacturing: If you are looking at selling a product that has great potential, you may want to focus only on selling instead of manufacturing it. Most companies avoid getting into manufacturing the product as setting up a manufacturing unit may be cumbersome, time-consuming, as well as very expensive. Therefore, outsourcing this process could be a great option. You could choose from a whole lot of adept manufacturers, domestic or off-shore, who could provide the service at great prices.
- Customer Service: Call-centers that are equipped with a well-trained team of able employees is where you can reach out to, in case you are looking for outsourcing this area. This pertains to businesses that have to deal with customers over the phone or online. You can let them know about your product along with your strategy. Once they have clear instructions from you, they can take over the task of speaking with customers to promote your business.
- Payroll Processing: Most small companies manage this procedure on their own as payroll processing of a small team is not much of a task. However, if your company is fast expanding, then managing payrolls could add to the woes. Maintaining employees’ tax returns, keeping a track of their joining and exiting details, their bonuses, and other perks may soon become too exorbitant to cope up with.
- Research: There may be times when you need to learn about the trends of your industry or learn about customer inclination and interests. Another example could be that you are wanting to know about how your new product will perform.These issues require you to study, read, and research the market you are in. If you do not have enough time at hand to get engrossed with the deep research, you may allow a research firm to step in. With immense knowledge and multiple resources, such firms can be truly helpful.
- Shipping and Logistics: This has become an increasingly popular area since the advent of e-commerce. The online sellers or the e-commerce business owners do not need to have an overhead of shipping; instead, they may outsource it to a logistics company and emphasize the major procedures such as marketing or strategizing. With an upsurge in the logistics business, as an outsourcing company, you may look forward to being assisted with some ideas that the shipping business has to offer such as an e-commerce fulfillment process.
Outsourcing enables companies to provide services without establishing an in-house team for the task. It has been hugely adopted as a method to enhance the efficacies of core business procedures. Cost-effectiveness, access to a wider knowledge base are some of the benefits of outsourcing.
From research to logistics and accounting, companies can outsource services for enhanced productivity and for providing better customer service.
With this article, we hope to have assisted you to gain an insight into the areas, which you could look to outsource for adding value to your business.
Author – Claire Mark is an investment and strategic planning consultant at Alcor, a global investment bank. She’s best known for her insightful blogs on business growth, startups, small businesses, and investments. Claire also has a good network in the Finance industry, especially the investors’ community. Apart from her work, she loves to bake and go out for gadget-free nature walks.