Outsourcing is the new buzzword nowadays, as more and more quality and cost-conscious businesses across the globe are turning to destinations like the Philippines for outsourcing back office and repetitive tasks. Therefore, what exactly is outsourcing? What are the benefits of outsourcing in the Philippines?
What is Outsourcing?
Outsourcing refers to how companies delegate the processes of their business functions to external providers. Any business process, which can be conducted from an offshore site, could be outsourced. It includes functions such as bookkeeping, payroll, transaction processing, customer service, marketing and inventory management, among others.
Benefits of Outsourced Work to the Philippines
You will find numerous benefits of hiring an outsourcing company in the Philippines. Below are some of them:
- New Products and Services Go to Market Faster
You can have a “second shift” work on your product and service offerings “after hours”. This will help shorten the time to “go to market”.
- Get Access to Expert Resources
Imagine spending less time recruiting and hiring talent? An outsourcing agency will handle all of your resourcing requirements with its pool of highly trained resources.
- Save Money on Technology and Infrastructure
Did you know that outsourcing can reduce your investment in infrastructure? Your outsourcing team handles the responsibility of the business processes and thus builds their own infrastructure.
- Concentrate on Core Areas
The best thing about outsourcing is that it frees up key staff to work on more value-added tasks. Many companies have their outsource team handle data entry, update metrics and reports which allows the more senior talent to concentrate on developing your brand, and more strategic initiatives.
- Improved Efficiency
The best outsourcing companies bring experienced staff members who can ramp up quickly. Accounting functions such as Bookkeeping are very popular as remote talent are familiar with Quickbooks and other software, which ensures enormous cost savings and a swift transfer of tribal knowledge.
They can perform the task better with their understanding and knowledge of the domain. That results to amplified proficiency and efficiency in the process, supporting the bottom line of your company.
This is perhaps the most visible and apparent benefit of using an outsourcing company in the Philippines. Because of the lower salaries, typical savings start at $20,000 per position. Higher paying positions such as Software Developers and Controllers can generate savings of $50,000 per positions!
- Time Zone Advantage
Another much-flaunted benefit of outsourcing is the time zone differential between your region and the location you’re outsourcing to. In fact, you can get your work done while you’re closed for the day and wake up to your service being sent the other day. That excellent benefit offers you the advantage of round-the-clock business operations.
As you can see, there are many benefits associated to outsourcing in the Philippines. Some of the processes you can outsource are bookkeeping and accounting services, data entry management, customer support services, digital marketing services including website design, software development, photo and video editing services, and among others.