Outsourcing Archives - Business Partner Magazine

Filling the Value Void – Create Real Business Value a Virtual Office Solution

March 21, 2018 by Guest Post Leave a Comment

Just a few short years ago, the concept of doing business in the virtual realm was unthinkable. Running your business from a remote location, communicating with staff who you had never met, based all around the world was about as foreign a concept in business as was thinkable.

Nowadays, with advancements in technology, better connections and more ways than ever to stay connected, running, not just a business, but a successful business, is entirely feasible. Savvy entrepreneurs and business owners are realising the benefits that a virtual set up can provide and are capitalising on the added value that doing business this way can bring. From huge savings to easier access to global markets, it seems that ‘going virtual’ is far from a trend, but is the smart move for those in-the-know.

Continue reading below to learn more about the value a virtual office solution can bring to your business and how you can take advantage of this emerging trend.

Operate from an Ideal Location

Locating your business in the heart of the local business market has always been important to success in business. You need to be right in the heart of the action to meet the right people, to be exposed to opportunities and to be able to give the right impression of your company.

With a virtual office, like those at this link: www.servcorp.com.my/en/virtual-offices/, you can operate your business from a sought-after, prestigious location that will impress your clients. Being in a location like this gives you instant credibility with the local and international business community and shows that you’re a major player who should be taken seriously. When you share an office building with well-established, successful companies, this speaks directly to how your business will be perceived.

Cost Savings

To grab a spot in a premium office building, normally occupied by major corporations, successful law firms and financial institutions would, traditionally, cost a small fortune. And for small businesses, it would simply be out of the question.

However, by utilising a virtual office solution, business owners can have an address at one of these prime locations without having to enter into long-term, expensive and inflexible leases. Instead, you can save money with a flat-rate month-to-month lease while still being able to position your business in one of these sought-after office buildings and putting yourself in the heart of the action.

Larger Talent Pool

Operating in the virtual realm, you have the ability to reach out to a global pool of talent to build a team that will help your business succeed. You can have a graphic designer from America, a web designer in Australia and a marketing whizz in Malaysia, all communicating together and working seamlessly towards the same goals.

The ability to build a remote dream team is something only major international corporations were able to take advantage of, until the dawn of virtual solutions. What’s more, is you can hire remote workers on an as-needed-basis. If you’re working on a new project that you need a particular skill for, you can seek out freelancers from all over the world to bring what you need to the table and get your project over the line.

Global Markets

Going virtual breaks down all sorts of international walls and opens up the global marketplace in a way never experienced before. You can open a virtual office in a country where there is a new opportunity and communicate with the local business community via your local address and dedicated phone number.

This gives the impression of you being on the ground and is a great way to test the waters with new markets and new opportunities, no matter where in the world they might be. Local businesses will be more likely to engage with you if they are contacting you on a local number or sending documents to a local prestigious office location than if they were dealing with someone operating from overseas.

A Virtual Office Creates Value in Business

Having the ability to operate a successful business from anywhere in the world and build a team from all over the world to help you reach your goals is an exciting prospect. With a virtual office solution, this is no longer just an idea but a very real opportunity for business owners to capitalise on.

A virtual office adds value to your business operations as you can enter foreign markets with ease, work with a remote dream team and save money on expensive rents while still locating your business where you need to be. Consider taking your business into the virtual realm and take advantage of the flexibility and opportunity that this office solution can offer.

Article by Caitlyn Bell

Image source: Northeastern University

Why It’s Better to Outsource Market Research

March 21, 2018 by Guest Post Leave a Comment

Market research is the most powerful tool for finding out the deepest desires of your target market. You are able to find out everything you ever wanted to know about these people – from their preferred job to their age, but most importantly, you’ll learn how they behave when choosing a business. Market research requires a very specific skillset in order to gather the right information, so most businesses will find it beneficial to outsource this service.

The market has shown a growing interest in new companies today because they feel ignored by large corporations. Leaders are being forced to become better communicators in order to learn as much as possible about their target market. That’s why so many businesses have started outsourcing their marketing research. It has too many benefits to ignore.

Advantages of Outsourcing Market Research

One of the main advantages of outsourcing your marketing research is that it provides an outside, objective point of view. Roger Dooley says that third-party outsourcing of market research will eliminate the risk of the investigation being jeopardised due to biased views and confirmation bias.

Outsourcing providers have access to the best tools on the market and stay up-to-date with information about market research. It’s their full-time job so they are going to have a huge advantage in terms of skillset. Since market research requires very specific knowledge and tools, outsourcing providers are going to be much faster and provide extensive data acquisition. Plus, their information will be more accurate.

Market research can be an expensive endeavour to take on within a business. Yes, dedicating an entire team to marketing and bringing in a data scientist to lead the charge can provide some huge benefits, but it’s going to be expensive. Small businesses are not likely to have the resources to build an in-house market research team, so outsourcing is their best option. Having providers working for your business will spring forth plenty of opportunities.

Having a group on the outside that is dedicated to handling your marketing research will open up a much larger volume of data, meaning that it will be much more accurate. It brings a lot of diversity to your findings. It also frees up your team to work on core business tasks that help your business grow. Customers change their buying habits so frequently that businesses have to stay on top of market research, which can be time-consuming and quite expensive.

Partnering with a market research provider ensures that you will get a quick turnaround on your reports. Having quick access to marketing data is essential for small businesses because it allows then to compete with larger brands.

I saved the best for last. There is a big difference between effectiveness and efficiency. Most businesses are content with being effective since it means they can be more productive with as little effort as possible. However, outsourcing gives you the best of both worlds. You can outsource from a diversified pool of talent so that you are still being more productive with minimal effort, but it’s also more efficient since it’s usually the most cost-friendly solution available.

Any sized business need to focus their marketing on a very specific audience. Marketing research is how that market is defined so it must be accurate. That’s one of the biggest reasons that large companies continue to outsource marketing research. They could afford to build their own in-house team, but the skillset of outsourcing providers is just too tempting to pass up.

What is the biggest factor you would consider with outsourcing your marketing research? Feel free to share it in the comments below.

About the Author

Jacob Haney is a content marketer presently working with Research Optimus, a business research outsourcing company. A writer by day and a reader by night, he is loathed to discuss himself in the third person but can be persuaded to do so from time to time.

The Ultimate List of Outsourcing Statistics

January 2, 2018 by Guest Post Leave a Comment

Outsourcing as we know it today comes in many different forms—from hiring skilled, independent contractors to performing tasks that might otherwise not be done as efficiently as your existing workforce to contracting with outsourcing firms that specialize in a broad range of services.

The use of virtual assistants and other remote contractors to handle jobs that do not necessarily require the services of full-time employees is also another popular model of outsourcing services that companies are employing. In fact, there are even companies that outsource their C-level positions for a significant period, which is usually during the startup stage of the business.

There are a variety of tasks that a company may assign to a third-party outsourcing firm such as accounting, bookkeeping, human resources management, customer service and technical support, and even web development and design. You could even partner with an agency for your digital or social media marketing.

There’s really no limit on the types of functions to outsource, as most companies use outsourcing services to help them streamline their business processes while aiming to save on operational and management costs.

As of late, though, outsourcing has found itself being confronted with certain challenges, especially now that automation in the workplace is becoming more common and is threatening to take jobs away from humans.

Still, if you’ve been observing closely, you might notice that technological trends in artificial intelligence (AI) or machine learning are also paving the way for an increased demand in a new breed of workers whose skill sets match the complexity of the modern, technology-powered business environment of today.

The accompanying infographic gives valuable discussion and insights about the outsourcing sector – with statistics and data culled from recent global research studies that show the industry’s present state and future directions to guide you to success.

Infographic by Microsourcing.com

Outsource your software setup or go it alone? What’s best for you?

December 21, 2017 by Guest Post Leave a Comment

As a small business, keeping tabs on your finances is essential. If you don’t know how much you’ve got you can’t spend it. If you don’t know who owes you money you can’t chase it. And if you haven’t got a cash flow your business can’t grow.

Which is why many small businesses choose to use computerised accounts such as Xero Accountants to help automate some of the financial tasks that need to be addressed. But being a small business means funds are often tight and if there is a DIY solution it can be tempting to save the money for something else.

Should you outsource?

Setting up an elaborate software package – such as an accounting suite – takes time and needs to be tailored to your business. An expert will already be familiar with the software so will take much less time to configure the system meaning you will be up and running quicker. You may well find that the software runs more smoothly if it is maintained by experts. They can monitor it remotely to ensure that any glitches are ironed out as soon as possible. Some outsourcing agreements harness the power of cloud computing so that bug fixes and updates are applied immediately – sometimes without you knowing anything about it.

There will always be someone to turn to if you have an issue when using your software or don’t know the correct procedure to follow. Whether your outsourcing company is a phone call, email or Skype chat away they will be able to take you through the solution step-by-step. And in the unlikely event that you’ve found a bug or missing feature, it will be automatically escalated to the development team.

Should you keep it in house?

On the other hand, outsourcing does cost money. You may be able to recoup the outlay in improved efficiency and by being able to take on more paying work, but if your business is young, you may feel you’re not yet ready to stump up.

Outsourcing isn’t for control freaks. If you’ve gone into business on your own because you find it hard to work as part of a team you may find having to deal with third parties equally trying. You will have to work with your outsourced support team whenever there is an issue you can’t resolve on your own.

And finally, if your core business is related to software or accounting then perhaps you have the talent you need right where you need it. Outsourcing for the sake of outsourcing has very little to recommend it.

You decide

Whatever you choose to do you can always change your mind later as your business changes. Maybe now you want to go it alone, but afterwards, you may decide that outsourcing works better. There’s no right or wrong answer – what’s best for you will depend on the nature of your business and the health of your finances. Trust your instincts but be prepared to make changes later down the line if things change within your business.

About the Author

I am Sienna Hoddle. Passionate writer and likes to write about unique travelling ideas and home improvement, Business, Health & Beauty, Technology, & much more.

Things to Consider Before Outsourcing any Business Activity

December 20, 2017 by Guest Post 1 Comment

The concept of outsourcing business activity has been far more effective and popular in business in the recent times. For increasingly evolving business environment, outsourcing certain activities is more imperative as it gives business owners time to focus on other aspects of business that can lead to the exponential business growth.

Enlisted below are some basic factors which you should keep in mind before outsourcing any business activity:

Be Specific:

Nowadays, businesses outsource every possible activity that is a core part of their business. This means you need to be clear which particular activity you want to outsource. You need to determine the pros and cons of outsourcing that particular activity.

For example, if you are searching for an IT outsource then select a reliable and experienced company that comprises of skilled as well as dedicated employees. Such an arrangement can result in business growth.

Search for a company that functions according to nature of your business.

Time Saver:

Business aims to meet deadline in an effective manner. Outsourcing a business activity saves a lot of time as well as money. Time management is regarded as one of the major success factor for any business. This means when you think about outsourcing, you save more time to spend on other essential business activities.

Right Control:

You solely cannot control each and every activity in your business. It can be very tedious, time consuming and complicated. In such a situation, outsourcing becomes an integral part of the business as it can create a perfect balance amongst other factors.

Proportionate control amongst both the outsourcing firm as well as the business can result in smooth functioning and development of the business.

Do Not Hire For A Task:

It is important to outsource a particular role and not an individual task. This clarity is very much essential as it minimises confusion about who is responsible to overlook the task. Besides, you need to search for an outsourcing firm that can handle the role and not just one particular assignment. It is thus, significant to hire a firm that can accomplish this role on your behalf.

Keep Your Standards Intact:

If you decide to seek outsourcing service from a company, it won’t mean you will compromise on the standard of your firm. If you are looking for certain qualification in an employee for that particular position, make sure that the firm you hire possesses that level of expertise.

Do not risk your company’s integrity and future by hiring inexperienced outsourcing service providers. For instance, if you are looking for web designers, you will be required to hire a firm that comprises of well qualified designers who has significant industry experience.

While staffing or searching for employees you might have heard the term, ‘right people, right job’, the same goes here.

Eliminate Barrier of Location:

Location is one factor that can impact productivity of your employees. If employees have to travel too far to come to your office their performance is likely to be hampered.

Therefore, look for an outsourcing company that is within your reach. In other words, the employees of outsourcing company do not have to contemplate before planning a meeting with you as they stay in a closer location to yours.

Although, the two ends of location is being bridged by technology. Video calls and various applications to share common data have eliminated this gap. This is why you can take the leverage of hiring freelancers for certain tasks. You can co-ordinate and communicate with them anywhere and everywhere.

It has also been observed that young entrepreneurs are not restricted by these geographical boundaries and are not reluctant to hire outsourcing firms overseas.

Reduce Staffing:

You cannot completely eliminate the process of staffing from management but you can minimise your efforts by outsourcing another firm. This means you get experienced and hard working employees working for you, but you do not have to go through the stress of recruiting them.

You do not have to go through the clutter of numerous applicants. You simply have to look for limited number employees directly working under you.

When you are selecting employees for your firm you have to evaluate their experience and skill set before you hire them. Finding the right candidate with sufficient work experience for your firm can be really difficult to maintain within the firm.

Tailor your jobs:

Skills have prime importance when you look for employees. For certain working situations, experience does not hold as much accountability as skills do. Therefore, it is essential to determine which work profile requires more skills and which needs experience.

When it comes to practical application, skills are considered to be more significant and when it comes to management or administration work, experience is more relevant.

Personality:

An individual personality can be fluctuating and may change over a period of time. On the other side, an outsourcing firm’s personality is likely to be consistent and evolve after years of experience. Besides, an outsourcing firm has uniform personality and work approach which allows smooth flow of business activities.

Mainly, you do not have to cope with constant changes pertaining to that particular activity.

You Get What You Want:

When you outsource a firm for particular function in your firm, you are likely to obtain an outcome which resembles your expectations. This is so because they are well aware about your expectations. Besides, their level of expertise gives them the ability to determine your requirements from the vague description you offered them.

Although you do not have to train them formally, but it is your responsibility to precisely mention your requirements so that they can work in the right direction.

Smart Outsourcing:

You can outsource every department that requires running your office. You have to be very careful while selecting an outsourcing department. You cannot simply outsource finance, marketing, sales as well as HR department as this will increase your efforts in co-ordinating amongst different agencies. Besides, it is not a feasible option.

Instead outsource a particular department wherein you lack knowledge and cannot devote time in understanding it. Outsourcing can help you to gain knowledge from professionals about the field and also determine lucrative options for future. Additionally, you can trace the effectiveness of the plan imposed for a particular duration.

Do Not Over-Expect:

You can expect decent work from the experts but avoid going over-board. This mostly, happens when you have outsourced a firm for the very first time. The first experience is likely to be a decent one as the firm is not familiar with your working pattern and requirements. They too, need some time to understand crux of your business and execute effectively.

Besides, do not expect the outsourcing firm to carry out additional functions. For example, if you hire a firm for HR activities do not ask them to carry out your administration activities as well.

Cordial Relations:

You treat your employees with a positive and right manner. Likewise, it is important to treat your outsourcing firm rightfully and in a courteous manner. Such relations can be maintained for longer duration.

Additionally, keep a stream of transparent communication open which will reduce any misunderstanding or mis-communication. Such relations allow healthy work environment at workplace and between the outsourcing firm leading your business to cover the weak aspects and head for a rocketing success.

About the Author

Charles Martin loves to be called “Problem solver” by both his colleagues and friends as he helps his clients with IT solutions. He works as an IT consultant and office management expert at ACS . He also an avid blogger who likes keeping himself and the readers updated with the changes springing up in the IT industry. His forte is in bringing solution to IT problems that are faced by most and are solved by least.