One of the most misunderstood concepts among those who are not in business is the idea of outsourcing. To those who are unfamiliar, outsourcing is the idea of taking tasks that are not the main focus of your business and paying another specialized vendor to do them. Imagine owning a widget company. There are several things a widget company must do to be successful besides create widgets—such as bookkeeping, payroll, and marketing. Rather than spend time doing bookkeeping, the widget company would outsource the time-consuming process to outside vendor. This is outsourcing, and it allows people at the widget company to do what they do best – focus on making widgets.
The next question is how can you effectively outsource different areas of your business operations? The answer is Resource Operations International (ROI). ROI understands efficiency, and their goal is giving a business the tools to do what they do well while making other functions efficient. Outsourcing is just one of their tools, but the value businesses derive from outsourcing via ROI is immense.
Outsourcing is big business. In 2017, Deloitte reported that 31% of all IT services are outsourced, and as an industry, outsourcing generated $88.9 billion in revenue that same year. It’s clear outsourcing is growing. The revenue in the industry alone is immense. In that industry, ROI is a master of using the business of outsourcing to help your business. ROI starts by evaluating your company’s efficiency, specifically looking for areas where costs can be cut and time can be saved. Think of it this way – ROI checks to see what your business does efficiently (this relates to your core services) – and then reviews if your company would benefit from outsourcing.
The easiest way to assess outsourcing for your company using an ROI cost comparison to see how much you currently spend on activities that could be outsourced. Then, the consultant will analyze the costs outsourcing. That said, it is not just simply a cost for cost analysis. There are also efficiency gaps. For example, the time it would take you to hire, train and fix any mistakes within bookkeeping may not always beworth it, therefore outsourcing makes the process much more efficient and it makes a lot more sense for your business.
There is a natural inclination to keep all pieces of your business in-house. However, in many cases this leads to your business trying to do too many things with too few resources. There is a cost-benefit analysis that drives outsourcing. But at the same time making the resourceful decision to save money is not the only reason a business would choose to outsource. Think about bookkeeping again. Unless this is a personal passion, few get in business for the enjoyment of keeping the books. Instead, entrepreneurs are in business because they are passionate about a product or service. To do tasks that are not directly related to this passion drains the business leader of their energy.
The difference with outsourcing is you get to work on your passion without all the other aspects of the business cluttering your time. A great way to understand how outsourcing can help with this problem is to think about how much time you spend working on your business. Consider how much time are you spending on your core products and services versus other aspects of the business. If you are finding that a significant portion of your time is spent on things other than your products and services, these are areas where outsourcing can benefit your company. There are two types of investments that ROI will help you consider – how much money you are pouring into a task and how much time you are pouring into it. When thinking about outsourcing, consider the time you are spending on things taking you away from your primary objective – your product or service. If you are spending any time at all on those tasks, outsourcing is something to consider.
ROI will show you how focusing on your products and services through outsourcing will increase your profits. Having a firm help your business by doing what they do as proficiently as you serve your customers is a great recipe for more success and less stress.
It’s no secret that attention devoted to the customer experience is the best way to ensure your customers are satisfied. Therefore, outsourcing has a direct relationship to the customer experience. The best way to build positive customer relationships is interacting with customers. As it was earlier discussed, the more time that’s taken away from focusing on your products and services, the less time you have to focus on your passion. The same goes for the customer experience. If there’s too much distraction by other things needing to be handled, how can you be there for your customers? This is where ROI is quite helpful. ROI consultants will help you find time you didn’t know you had, which is time freed up is time that you can spend really diving into the experience of your customers.
With ROI taking care of the outsourcing, you can take care of all parts of the customer experience. Everything from acquisition to retention can be the focus of your attention. As the customer experience keeps improving, your business will too. Customer satisfaction will increase, leading to jumps in retention, word of mouth marketing, and revenue. This increased focus on customers is a boon for your business, and that’s all because you removed the extra tasks that were distracting rather than adding to your business.
The beauty of Resource Operations International and outsourcing is essentially having less extra work to do in your business, so your work will be more efficient. Outsourcing is proven effective for helping businesses grow and enhancing the customer experience. Learn how your business can become more efficient through the magic of outsourcing by contacting your local ROI consultant or visiting our website today www.rointl.com