Adapting to constant change is essential for the success of any business. Companies that know this and do it correctly can bring more productive outcomes. Outsourcing is one of the hottest trends that is becoming increasingly common among companies across the world. Businesses are outsourcing their services to cut their costs and invest more in their core functions. For those who are new to outsourcing, may find it hard to decide what to outsource. Depending on the type of company and the industry, some companies demand one kind of service or another. Here are some of the areas that companies can outsource:
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IT
The information technology industry is one the rise for the last many years. Tech companies across the world provide a range of support to the clients in various areas such as software development, web design and development, mobile apps and more. While companies manage in-house employees for the majority of their tasks, they somehow have to outsource when duties go overboard and put pressure on the employees. It’s best to outsource the service or a project to a third party that will not only reduce the burden but also cut the costs.
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Administration Tasks
A large percentage of companies prefer to outsource their administration tasks that mainly revolve around answering email enquiries, scheduling meetings, hotel/flight reservations and other arrangements. These people are usually called “virtual assistants” who handle all the aspects of administration, including data entry. There are many freelance websites from where you can hire these virtual assistants for as low as $5 for an hour.
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Accounting
With the advancement of technology, it has become easier to share data and documents in a secure, quick and reliable manner. Several companies prefer to outsource their financial matters such as bookkeeping, financial analysis and reporting and invoicing to a third party. The outsourcing party can be an accounting firm or an individual who is expert in accounting.
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Digital Marketing
“If your business is not on the internet, then your business will be out of business.” This insight by Bill Gates is now being implemented more than ever. Companies who never used an online medium are now putting more and more emphasis on creating their online presence. Nowadays, almost every business, big or small, is focusing on digital marketing to increase their audience and credibility. Startups usually build their content and market it in the beginning but eventually, as their business start to grow, they tend to outsource the whole digital marketing department for better results. Outsourcing can help your digital marketing boost at low rates.
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Human Resources
For a growing company, handling recruitment tasks can be tedious. Companies waste a lot of time in screening resumes, calling for interviews, hiring and more. However, nowadays, many businesses are outsourcing recruitment tasks to a third party. LinkedIn, that is a professional platform for hiring skillful resources, is one of the most used platforms for such tasks. You can hire a recruitment specialist and get rid of the new hiring stress. On the other hand, outsourced teams can handle all your human resources tasks to save your effort and cost.
Outsourcing is an excellent strategy to implement if you want to bring more fruitful results, but one should keep in mind the risks that are involved in outsourcing. Not every outsourced team or individual is reliable and hiring one wrong company can cost you a lot. Before you outsource, it’s better to research thoroughly beforehand and only hire from the reliable resources with a proven track record in providing services that you’re after.