How businesses can leverage outsourcing to grow better
Choosing what not to do is an advantage
At the core, building and scaling a business can be summarized as complex problem-solving at scale.
Product development, sales, research and development, marketing, fulfillment, legal among others are highly specific business functions, and solving each of them requires experience, resources, and skills.
Sometimes, it can be hard to get access to the right talent, technology, and resources (at the right time), and without solving for these, growth can take a backseat, leading to one cog slowing down the entire wheel.
Successful businesses know how to navigate through this complex maze.
Most businesses think of outsourcing as a way to save expenses. It’s like looking at a supercar and saying that the only job it does is to take you from point A to B. That’s a limited way to look at the capabilities – we all know there’s more to it.
Similarly, there’s more to outsourcing than just cost optimization. If done right, it can serve as a tool to help businesses solve complex problems, without slowing down on growth.
Through this post, we’re going to look at outsourcing from an inside lens i.e. why growth-focused companies can achieve by outsourcing, and how outsourcing can be a competitive advantage in business.
1. Businesses can focus on core competencies
Outsourcing frees up the bandwidth from non-core areas and can help you refocus your resources on the activities and decisions that matter most for your business.
By outsourcing less demanding tasks, you can continue to work on core activities.
For example – if you’re a technology company entering an established industry, focusing on your core product is going to be the area that brings in exponential rewards for your business. Putting maximum energy and effort into what you’re building will help you compete better in the marketplace.
Thanks to an interconnected world, finding, connecting, and working with experienced outsourcing partners and vendors is no more a challenge, but an opportunity to be leveraged.
Outsourcing can also bring in an outsider’s perspective – which can be valuable for businesses who want to deliver better experiences for their customers using technology solutions.
2. Businesses can get to growth faster
For companies who’re set to enter new markets, or expand their product/service offerings, implementing change can take too long, leading to missed opportunities to acquire and engage customers.
Building teams in-house has numerous advantages, but training people on-job is often a time-consuming process that demands internal resources and bandwidth.
Outsourcing is all about relying on an expert to get into action faster. You pay for deliverables.
For example – if you’re building an e-learning app for a niche segment, outsourcing key functions like marketing and advertising can help you streamline your go-to-market strategy and connect with your target audience.
Outsourcing can help businesses get things off their back quickly, so they can launch, test, iterate, and grow. This can save both time and opportunity costs, and help businesses avoid inefficiencies in service delivery.
3. Businesses can stay flexible and agile
Hiring, training, and managing resources in-house can help you build teams to solve problems, but it can also result in massive overheads and huge responsibilities.
Instead, businesses can leverage outsourcing to scale demand for workers as they go and grow, maintaining a company’s flexibility to meet changing requirements.
Outsourcing can help businesses stay agile by staying lean.
For example – if you’re running an e-commerce business, and have seasonal fluctuations in consumer demand, you’d be better off relying on an outsourcing partner to help you prepare for the sudden spike in sales volumes, instead of hiring and training for a cyclical time frame.
One of the key advantages of working with the right outsourcing partners is, it can help businesses minimize unwanted switching costs and stay lean operationally.
The secret to growing online sales?
4. Businesses can access a bigger talent pool
The foundation of every successful business is a rock-solid team.
Having skilled resources on your side is like having the right ammunition when you’re going to war – it will help you maximize the odds of hitting the targets, and winning the battle.
Relying on in-house talent is a good strategy to build, scale, and grow a business, but it can be limiting too, especially for small and medium businesses for whom attracting and hiring talented resources is a common challenge.
For example – say you’re building an ERP software solution for the healthcare industry, it’ll be a lot easier and faster to work with developers, designers, and project managers who’ve had prior experience in building for focus groups.
This way, you can get to work with experienced people, and the timeframe required to kickstart execution will be a lot shorter.
In simple words, you should get the job done from outside, especially if building a solution in-house is taking a lot of time and resources, or is not as per the desired quality.
Outsourcing opens up a bigger and more diverse talent pool for companies who want to expand their reach in terms of working with skilled people from across the world.
With the right outsourcing partner, this can easily be achieved without compromising on talent or service delivery.
So, Should You Outsource?
Warren Buffett once said, “Price is what you pay. Value is what you get.”
If you’re trying to evaluate outsourcing as an option – it’s important to take a holistic view.
Despite the numerous advantages outsourcing offers, it’s also important to consider the risks involved.
Finding the right partner, building trust, communicating effectively are common challenges faced by businesses who outsource activities and processes.
Simply shifting your focus from the cost savings aspect, and looking at outsourcing as a means to drive growth, can help you achieve your business goals faster.
How SquadIQ can be your outsourcing partner for sales and fulfilment
Fast growing consumer companies face a common problem – connecting with leads and customers quickly, without compromising on service delivery, quality or experience.
The challenge is – in-house teams can’t scale effectively with rising demand.
To solve this growth challenge, companies like Delhivery, ZestMoney, Tata Cliq, Aakash Digital, Zomato and Upstox leverage SquadIQ for sales and fulfilment.
Since you pay only for outcomes, not efforts, your business can generate up to 40% higher ROI.
With SquadIQ, businesses can leverage a pre-trained, industry-ready distributed workforce of 5000+ callers present across India, to:
- Connect with your leads and customers via omnichannel mediums like Voice, SMS, IVR and Email
- Follow-up and engage interested leads to convert them into customers.
- Manage entire campaigns through one platform, and get real-time campaign updates.
Learn more about why leading companies trust SquadIQ for sales and fulfilment growth.
See a demo to see how we can help you grow better.