Top Four Industries that Outsource their Operations

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.