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Indeed, the market is highly competitive, and companies tend to fizzle out when they don’t meet up to standard. In layman’s term, they end up not becoming big players in the market. Outsourcing comes in different shapes and sizes. The type of outsourcing you choose to adopt will depend on your business needs. let us dive in and discuss which outsourcing service is best for you.
This is the most prevalent type of outsourcing. Some call it “body shopping”. It encompasses the outsourcing of professional services like accounting, legal, administrative jobs. Here, small tasks or projects are outsourced to professionals like Phillips Outsourcing Services Nigeria Limited. This enables companies to focus more on their core functions.
Outsourcing manufacturing involves hiring a third party to function in the production or marketing of goods. It is vital to companies that lack specific technology or resources. Here, the third party builds a part of or the entire product for the company. If you are looking to cut labour cost, then try outsourcing some manufacturing functions .
BPOs were rampant amongst manufacturing industries but over the years, other industries began to practice it. Companies use BPOs for back-office functions and front-office functions. Back-office functions are internal business functions like human resources, payrolling, accounting, information technology (IT). Front-functions include sales, marketing, customer relation services. BPOs saves costs and provides quicker exposure to innovations in the practice.
Companies subcontract IT (Information Technology) functions to a third party. These functions range from data storage to software development to infrastructure to maintenance and support. IT outsourcing saves costs and makes business processes more effective and faster.
Companies carry out projects to meet certain objectives. The right project management is eminent to executive projects. Project management involves lots of process and demands highly professionals so companies decide to outsource a part or the whole project management functions.
Offshore outsourcing simply involves hiring a third party from another country to carry out certain functions or productions on a contract basis. It includes near shoring and far shoring. Offshore outsourcing cuts costs as well as give access to tax laws that are favourable to operations.
It is a type of offshoring whereby business processes outsourced to third parties located in nearby countries, offering sharing borders with the hiring company. For companies based in Nigeria, typical nearshoring locations include Ghana, Togo and so on.
It is a type of offshoring whereby business processes outsourced to third parties located in far distant countries. For companies based in Nigeria, typical far shoring locations include Germany, USA and so on
It is the opposite of offshoring. It involves outsourcing some functions to companies at lower-cost locations inside the national borders of the hiring company. This means that both the hiring company and the third party are located in the same country.
Reshoring is simply the practice of returning initially outsourced business functions and production end products to the location of the hiring company.
We believe that this piece has widened your horizon on the subject of outsourcing and can help you take an informed decision on which way to go. Contact us and we would hold your hand through the most appropriate process for you.
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