In today’s fast changing world, the way we conduct business is also moving at a rapid pace. Especially when it comes to maintaining a balance between a growing business and healthy lifestyle.
The moment the focus shifts from sales and your customers, you know it’s time to step away from tasks that can be handled by others and use your time and efforts in more revenue generating activity. This is when it’s time to stop working ‘IN’ your business and start working ‘ON’ your business. One of the key strategies that many accountants are looking towards is the utilisation of global resourcing and outsourcing. Outsourcing allows business owners to manage growth in a scalable and cost effective manner and in many cases through local account management.
Often times this comes down to the cost of moving with the changing landscape or the cost of doing nothing. One of the greatest realisations of many in the professional services industry is that the status quo is the biggest enemy i.e. doing nothing. Depending on the work that needs to get done, you can find outsourcing partners either locally or internationally.
“It is not the strongest, nor the fittest, but the species that is most adaptable to change, won’t just survive, but thrive”- Charles Darwin
Some tips on growing your business through outsourcing and technology
Accept change: Be prepared to make the change. Outsourcing or offshoring are both key strategic business decisions that need careful consideration. Understanding the need of the business and how one could move their functions to an outsourced or offshore team are key to the success of an outsourcing partnership.
Create a Scalable Network: Off-shoring/ offloading labour intensive work adds significant value and increases profitability. Although there may be some adjustments required during transition, eventually the pay off is significant. An outsourcing partner with capabilities of global resourcing and tailoring solutions is an asset to your business. A solution optimised for efficiency is essential for smooth functioning. Creating a scalable network that can work across platforms and functions helps bring down cost and drive revenue. A true win-win outcome.
Optimize Technology: In a connected world everything is just a click away. An optimized technology framework is as important as the outsourcing of the business process. A robust technical framework will help bridge physical gap, ease transition and assist in growth. With virtual and real time business process options available, thanks to technology, time and distance are no longer of great consequence to doing business.
Processes and systems: How we operate is crucial to the whole process of outsourcing. If your outsourcing partner has the right process and systems in place, outsourcing would prove to be benefit in the long run. Quality checks are crucial to the work delivered. Maintaining a high level of privacy is essential to careful exchange of data amongst businesses and outsourced teams. Above all security checks and firewalls should be in place before sensitive data or processes are shared between teams.
“Luck is when hard work and preparation meets opportunity.”- Nesan Naidoo
All in all outsourcing is a business strategy that is fuelled by robust technology and scalable resources and can contribute immensely towards building your business.