Have you ever considered outsourcing your business’s development services? Well, then you have come to the right place to know about all the benefits that you can get when you outsource your services!
First of all, what is outsourcing? Well, this is a business strategy where a portion of your business operations or processes are passed over to a third party outside of your business. This may mainly be associated with commissioning work to an overseas partner but this strategy can also be done with the location of the outsourcing company being local.
Outsourcing has become quite popular nowadays because it brings plenty of benefits to your business. One of the main benefits you would receive is that it lowers the expenses of the business. This is because the investment for outsourcing is lower than the usual business operations of the business. In the present day, Sri Lanka is well known for outsourcing due to these benefits. So let’s talk about what these benefits are.
#1 Cost-Effective
This is the main benefit that you would get when you outsource your services. Especially in the IT field, if you work on a project in-house you will have to bear many expenses such as resources, workplace equipment, and hiring your team for the project. But not only this! You also have to consider payment of holidays, insurance, special occasions… Etc. All these can bring a huge expense when it is an in-house team. But if you are going to outsource it, this expense will be cut down by 20% to 70% because it is cheaper to hire a freelancer or outsourcing company!
#2 Time saving
Time is the next most important thing after cost when it comes to business. These 2 play a very important role hand-in-hand in the success of a business. When you outsource different projects to different companies you would have a lot of time left out for your business to focus on other activities. Just imagine doing 5 different projects in-house and outsourcing these 5 projects. Obviously, outsourcing would save you a lot of time. Time is money. Everybody knows that! With an amazing outsourcing team with expertise on what the project is about, you will be able to complete the project faster than expected.
#3 Specialized Talent
The majority of outsourcing companies work according to software methodologies which brings amazing results. They would also keep their client informed of the progress and the changes that are done to the project. You would just have to approve the work and all the details of the outsourcing project. If it was in-house you would have to keep track of everything that is going on and also train the entire team for the project which would cost your time. This time you can focus on your business and work on improving it! Especially if you are a start-up, you would have tons of work on your plate. So, focusing on all the projects and the business work would be really hard but with outsourcing, you can especially focus on the important work of the business while the outsourcing company would handle your project.
#4 More focus on your business
The majority of outsourcing companies work according to software methodologies which brings amazing results. They would also keep their client informed of the progress and the changes that are done to the project. You would just have to approve the work and all the details of the outsourcing project. If it was in-house you would have to keep track of everything that is going on and also train the entire team for the project which would cost your time. This time you can focus on your business and work on improving it! Especially if you are a start-up, you would have tons of work on your plate. So, focusing on all the projects and the business work would be really hard but with outsourcing, you can especially focus on the important work of the business while the outsourcing company would handle your project.
#5 Less Responsibility
When it comes to carrying out in-house projects you definitely must have come across problems. It all comes to you being responsible for anything that goes wrong. Yes, it’s true that we try our ultimate best for the success of the project but there are instances when something goes wrong. When you provide a project to an outsourcing company then you have to worry less! You would have more to lose when it is completely your responsibility because it is an in-house project but it would not be the case when you outsource. It is your responsibility to some extent but it would be mostly the outsourcing companies to handle the issue and not you.
There are much more benefits when it comes to outsourcing as shown in the image but what we talked about are a few of the main benefits. Outsourcing projects would save a lot of time, cost and you can focus a lot more on your business and hustle hard to achieve your other goals! You can start outsourcing at least with a small project and see the different outcomes and benefits yourself. If you’re satisfied with these outcomes you can move onto bigger projects. Let today be the start of something new!
