Thursday, 22 January 2015

Outsourcing Myths: Invest in Emerging Trends to Usher in a New Era

The outsourcing industry wasn't competing with traditional business model alone to establish its credibility but the bigger fight was about breaking the myths associated with the concept itself. The outsourcing sector has always been looked upon with suspicious eyes and lack of trust. The damage caused due to narrow perspective has limited businesses from exploring options that could have saved them from spending huge sums of money. Some of the bankrupt units would have been saved, had they accepted the change and followed a liberal approach. Some of the myths surrounding the business outsourcing solutions industry are insecurity and inefficiency etc.

business outsourcing solutions

1.     Lack of Control Results in Chaos and Loss of Revenue: Businesses retain total ownership and control. The point that you would lose control resulting in loss of business breeds out of lack of information. You would still receive daily or weekly reports. You would still provide feedback and offer suggestions. The primary reason that businesses outsource work is to enhance productivity and save time. Businesses should embrace the new model as it empowers them to manage things in a far more effective manner, than ever.

2.     Outsourcing Companies Lack Vision and Ambition: Business process outsourcing companies continue to beat traditional model by providing better services. They offer customized packages with experienced professionals working with commitment to pull off results. With dedicated teams and round-the-clock support, these companies stand a better chance to deliver results.

3.    Outsourcing Costs More than Managing In-house Teams:  The outsourcing business model is the most productive and economical in nature. In a traditional set-up, you would require to hire, train, invest in technology, offer health insurance and other such benefits etc. On the other side, you do not have to worry about anything at all. You get qualified technical assistance at lowest labor costs by outsourcing business solutions.

4.    Data-breach Threat and other Security Issues: The threat of secure information to be hacked or leaked is a big concern when it comes to outsourcing as compared to when managing an in-house team. The flip side is that a business process outsourcing company offers better security features. They invest in the latest security systems knowing that brand reputation is heavily dependent on it. They keep on adding new features to it. Market reports suggest that offshore vendors are among-st the top buyers of advanced security systems.

5.    Legal System Too Complex for the Comfort Level: Businesses need to understand that writing a legal agreement would only be as complex or easy as you want it to be. The most common mistake businesses make is to over-protect their own rights. It has been learned that outsourcing business services is a moving and evolving concept. The legal system is not difficult for someone who wants to keep the space open to help both the sides achieve commercial goals.   

With all the major outsourcing myths being busted, it is a good option to choose the best outsourcing company in the market today. Cogneesol is a top-notch business service provider offering value-added services related to insurance, healthcare, legal, technology, finance and data management industries.

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