What reasons for outsourcing are there?
Have you considered sub-contracting your work to an outsourcing firm and thought “Am I alone in this?”. Many times companies experience the need to handle more growth. Outsourcing has proven to be a model that comes in quite handy for many industry types based on the margins set by each business and the resources they have available to complete the job. After some research, I found these top 10 industries that successfully use outsourcing to grow their business.
1. Customer Support – Companies looking for phone support are following trends of off-shoring and outsourcing this task to foreign markets. It ranks as the number one export of outsourcing jobs.
2. Accounting – Some companies can benefit from outsourcing this work because it involves a standardized methodology that professionals all over the world know. However, trusting someone with your books has made hiring for local firms more important than any overseas firm can provide.
3. Tax Preparation – Just as in accounting firms, these outsourcing groups are more specialized in tax preparation due to the nature of the service. A good tax preparation service can save your company thousands and avoid being audited.
4. Web design and Marketing – These particular types of groups have a specialty and flair for knowing the niche market and how to promote your brand. Sometime it helps to have an outsiders view without getting caught in power struggles and office politics that can dilute the marketing and web design image.
5. Computer Programming and IT – Many companies have seen success in using foreign markets to accomplish this task. The reason is simply for the specialized skill set you can pay pennies on the dollar for foreign labor to accomplish what local American programmers charge.
6. Manufacturing – Another foreign market giveaway as the U.S. has transitioned from being a manufacturing country to that of a service industry leader.
7. Data entry – Many groups can position themselves to be a great resource to companies looking to outsource this particular kind of task. As long as the data is not sensitive in nature, this type of resources will continue to grow.
8. Research and Development – All types of research and development projects are outsourced by today’s businesses. Everything from market research, customer demographics, financial research and even pharmaceutical research is handled by overseas teams trained in the various methodologies of each field. The most important task from the company’s standpoint is locating an outsourcing firm that specializes in the unique type of research needed for the project in question. Like any other field, different firms will specialize in different things. Be skeptical of hiring “one size fits all” firms that claim to be capable of doing any type of research you could possibly need.
9. Legal Services – Legal documentation, drafting/analysis, document review and litigation support are all examples of legal tasks that businesses confidently and profitably entrust to outsourced teams every single day.
10. Creative Services – Another task that is increasingly being handed over to outsourced teams is creative services. Whether it’s full-length articles, logo design or advertising copy, outsourcing firms capable of completing such tasks are ready and waiting to assist your business. Perhaps the ideal situation in which to outsource creative tasks is when a temporary need arises, such that it makes little sense to hire a salaried employee.
Don’t feel alone when considering your reasons to outsource your next project. Consider why so many other companies look to outsource accounting as a possible solution. Many groups have diverse backgrounds and see a variety of projects come to their offices, making them a valuable and skilled at what they do. LUXA Enterprises is an outsourced accounting group offering outsourcing solutions to small and mid-size businesses in the Tulsa and surrounding areas.
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