Several
years ago, most industries are having difficulty adjusting with
technological advancement. Large businesses are struggling to handle
their operations well enough to stay at the top of their game. As
most industries are always productive, the competition is an
extremely hard place.
Outsourcing
While
most companies cut operations to minimize costs, others choose to
create strategies. One of their moves is to delegate non-core tasks
to BPO (businessprocess outsourcing)
companies located abroad. Because most countries outside United
States and United Kingdom have significantly lower labor rates,
various advantages are achieved from outsourcing of their non-core
services.
Since
the Global Financial Crisis of 2008-2009, most businesses slow down
on their operations. However, with the continuous growth in other
unaffected countries in Asia, investor sentiments and confidence
persuade companies to continue outsourcing their operations outside
their countries.
1.
Information Technology (IT) Services
Most
technology firms have difficulties maintaining highly-skilled IT
professionals that are locally sourced. The main reason is because of
their high salary. An IT expert’s salary could cost around several
thousands of dollars/pounds at home.
Meanwhile,
the labor rate of their foreign counterparts in Asia only costs
around ten to twenty percent of that amount. This makes IT
outsourcing companies abroad a competitive choice for their services.
2.
Back Office and Customer Support
Few
years ago, customer support was mainly done by customers phoning the
customer service hotline. This is still true today - most companies
still utilize their hotline numbers to serve their customers. Now,
there are other communication platforms available.
For
instance, there are chat supports and other office documentations
that require back end system. There is a growing demand for this
service as well which is having a foothold in today’s outsourcing
industry.
3.
Sales and Marketing
Almost
any kind of business has their sales and marketing team. Why not? Any
bright idea, product or service is worthless if you don't have a
smart team of sellers to promote the business and its offerings to
your target market.
4.
Finance
As
the economy circulates around the business cycle, most companies take
advantage of financial services and outsourcing companies in order to
offer clients with increased value of their hard-earned money.
Financial
services, insurance, and real estate are among the key services of
the finance sector. As the growing number of workforce in developing
countries gets even more competitive, businesses opt to outsourcingservices
in order to maximize profits and establish a formidable brand.
