Outsourcing can often receive a bad rap. In the business world, both big and small, many shun outsourcing due to preconceived notions about what it is and what its outcomes are. The truth of the matter, though, is that many companies are finding great benefits to partnering with external agencies or companies as it helps foster growth and efficiency.
If you’re curious about outsourcing but have been wary about it in the past, the following debunked myths may help you see it in a new light.
Myth #1: It Makes You Lose Control of Your Business
Perhaps one of the biggest misconceptions about outsourcing is that it makes you lose control of your business. However, this is not the case. Depending on what you need to outsource — whether it’s payroll outsourcing or accounting — most companies uphold high standards to ensure that you are fully in control of your own business. Usually, outsourced individuals will only work on their assigned tasks or area and are not a threat to the running of your business. If you are still worried, though, draw up a set of guidelines when exchanging contracts with the outsourcing provider.
Myth #2: The Company Loses Privacy
Privacy is a big issue, but it needn’t be a worry if you develop the right relationship with your outsourcing provider. While many businesses will not want to share their financial information, it is in the interest of the provider to uphold the security of this data as they will be responsible for it. Their reputation rests on how they handle and manage data, and they are also bound to government data protection regulations.
Myth #3: Its Main Achievement is Cutting on Costs
Outsourcing is not just about cutting costs. While this is, of course, one of the primary benefits, outsourcing also provides additional talent, strategy, skills, and value to a business. Importantly, outsourcing also allows a business to focus on priority areas, rather than drain its energies on tasks such as HR and payroll.
Myth #4: It’s Only Available to Big Businesses
Outsourcing is not limited to the world of big business. Small businesses can benefit greatly from outsourcing through increased efficiency and productivity. Many outsourcing companies provide customized services for smaller businesses, especially, as it can cost much less to hire out services to freelancers.
Myth #5: Outsourcing is Inconvenient if Done Off-Shore
Many businesses believe that outsourcing to other countries will be inconvenient due to the time difference. However, these hours can be worked to your advantage if you learn to collaborate online and assign certain tasks and meetings for specific hours. Also, if a business employs a team in India and a team in the US, for example, the benefit is that productivity will be round the clock and result in faster delivery times.
Myth #6: It Results in Low Quality
Another big concern around outsourcing is that the quality will suffer. As long as you partner with a reputable company and establish good relationships, this shouldn’t be a factor. With proper planning, quality can actually increase with outsourcing. If you’re uncertain, get to know the company first and determine whether their standards are different to your own. Again, outsourcing providers have reputations to uphold, so it’s also not in their best interest to deliver poor quality on behalf of a client.
Outsourcing is becoming increasingly popular as businesses seek to expand and improve efficiency and productivity. If you’re considering this move, but are concerned about the outcome, bear the above information in mind and conduct thorough research into reputable outsourcing providers. Good luck!
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