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.
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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.
