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Outsourcing: A Tool That Values Time And Money

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The various reasons a company outsources its work are increasing work speed, raising efficiency, and decreasing expenses. To reap these benefits, the company has to trust the service provider’s expertise to work on the outsourced tasks.

The Needs of Outsourcing

Some hiring companies have somewhat different needs to opt for outsourcing. They might lack full-time employees with the specialized skills to perform the tasks. Or they might be unable to hire in-house employees. A few companies look up to service providers as innovation centers. As per an outsourcing survey by Deloitte in 2016, 35% of hiring companies revealed that they measure the innovation value of the service providers.

For any of the above or other needs, Pearl Lemon Outsourcing maximizes the hiring company’s business potential by selecting the optimum service providers. This outsourcing company in Preston has robust experience in catering to outsourcing needs pertinent to call answering personnel, call center agents, creative assistants, private personnel assistants, marketing assistants, web developer assistants, and many more.

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Outsourcing Types

  • Onshoring: The hiring company selects a service provider offering lower-cost services in the same country as the hiring company.
  • Offshoring: The hiring company selects a service provider offering lower-cost services in a different country than the hiring company.
  • Nearshoring: The hiring company selects a service provider offering lower-cost services in a nearby country to the hiring company, such as bordering countries.

Advantages of Outsourcing

The hiring company witnesses decreased expenses and higher efficiencies. It can free up its own resources and redirect them to newer tasks that yield more money for the company than outsourced tasks. So, hiring companies can reduce production duration and can also streamline production.

The service provider can completely concentrate on some specific tasks. Due to this, it can perform the tasks in a cheaper, quicker, and better way than the hiring company. The hiring company can direct its employees to concentrate entirely on their core competencies. Due to this, the hiring company can gain a competitive edge in the market.

Insight into Facts of outsourcing

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In 2019, Statista released a report showing that the worldwide Outsourcing market value was 92.5 billion USD and expected to increase in the future. IT Outsourcing occupies about 60 percent of total global outsourcing work. The remaining is Business Process Outsourcing (BPO). The top companies in the world that practice successful outsourcing are Alibaba (website development), WhatsApp (outsourcing IT talents), Google (comprehensive outsourcing), Skype (back-end development), Slack (app and web design), and GitHub (website back-end development). The growth story of all these companies has the same conclusion. Whether you are an established enterprise such as Google or a rising startup such as Skype and WhatsApp, outsourcing is vital to long-term expansion and success.

Outsourcing is increasingly being practiced as a strategic tool by many companies. When implemented aptly, it assures increased workload flexibility and cost efficiency. It is an incentive for hiring companies to maintain the nature of free-market economies globally.

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