What is Business Outsourcing?
Business Outsourcing is the process of delegating a company’s business processes to third parties to reduce labour costs.
Outsourcing is the process of strategically hiring employers from offshore or near-shore countries to perform tasks that are traditionally given to external staff.
Why do businesses outsource?
The main reasons for business outsourcing include:
- Lower operational and labour costs
- Risk Management
- Improved Performance
- More resources for core business processes
- Ability to downsize easily
Whilst offering advantages, business outsourcing has some inherent disadvantages. When outsourcing various functions, the company often has less direct oversight and control of the product or services it’s purchasing, which can threaten the relationship between the company and its customers.
The most common problem with outsourcing is communication. Outsourcing overseas can lead to language barrier issues. Security issues, such as keeping company information private can also arise.
Business Outsourcing is not something that should be taken lightly. Here at The Quinn Group, we aim to add value every step of the way by providing strategies to reduce expenses, increase revenue and minimise taxation.
Our services are designed specifically to provide a timely solution for small and medium sized businesses and business owners alike.
For advice on business outsourcing, call us on 02 9223 9166 or submit your online enquiry here.