Offshoring: the savvy strategy for big business
Big business has been reaping the benefits of geographically distributed teams for many years now. You might know it as business process outsourcing, or BPO, but modern offshoring is so much more than simply farming out process orientated functions. Many successful organisations have become savvy to the advantages of strategically locating specific teams in an overseas location.
Faced with rising operational costs, growing competition, and staying on top of the continuous evolution of technology, the costs of doing business for large enterprise are continually growing – especially in Australia, the United States and Canada, which have exceptionally high labour costs.
With size, a business often loses agility. What can large enterprises do to control costs, drive operational efficiency, and move quickly to respond to market demands?
Minimise costs. Maximise efficiency
Offshoring and outsourcing (read about the difference here) have been utilised by businesses of all sizes for quite some time now, but the contemporary model can open up a whole world of possibilities for your business to move from good to great. It’s an intelligent, strategic solution to a myriad of business challenges.
Offshoring is comparable to having your own staff based in another location, with lower overheads and running costs. Recent advances in digital and communications technology make enhancing your local team with offshore resources simple to implement, delivering outstanding results in terms of cost minimisation and operational efficiency. Any roles that can be performed remotely (and don’t require physical interaction), could potentially be offshored.
There are a lot of misconceptions about offshoring. Let us bust some common myths or continue reading for more detail on how offshoring can increase efficiency, create capacity and generate opportunities for investing in the core parts of your business.
The right staff for your business
As a tailored business efficiency solution, offshoring is all about finding skilled, professional staff to support your business objectives. There are numerous roles you could base in an offshore team. From trained accountants, accounts payable and receivable roles through to digital marketing, graphic design, social media management, and even web development; there is an offshore option for virtually any back-office requirement.
If you’re aiming to optimise operational efficiency, why not consider replacing process intensive tasks with offshore employees? Functions like client service or accounts focused roles are ideal for offshoring.
Are you seeking to expand your business profile within your market segment? Functions like social media, graphic design and digital marketing that contribute to profile building and creating dialogue with your customers can all be incorporated in an offshore team.
There are no restrictions to the size of your offshore team. Start with one function and then build according to your company’s appetite for change. The additional capacity created through offshoring will enable your business to focus on the things that matter most.
If you want to learn more about the types of roles that are easily offshored and how you can identify potential roles suited to offshoring, click here for a comprehensive list.
Realise tangible benefits
Using offshore talent allows you to quickly access highly skilled professionals at a fraction of the cost of local workers. You could save 70% or more on salaries using offshore team members. This allows you to optimise efficiency and increase your onshore capability and capacity quickly and efficiently.
Offshoring is ideal for process intensive tasks like payroll, accounts receivable, web development – or even customer service.
Utilising offshore resources facilitates more targeted spending onshore. Large businesses can reinvest savings into essential resources; research and development; or sophisticated marketing campaigns. The opportunities are infinite.
Initiating an offshoring strategy
Diversify is a premium offshoring service provider based in Australia. We coordinate offshore resources in Metro-Manila in the Philippines. This choice of location has been carefully considered and there are some important reasons for offshoring from here.
Once you connect with us we’ll explore with you the opportunities for maximising the benefits of an offshoring strategy. This will start with a review of your organisational structure to identify and prioritise roles that could potentially be based offshore. More than looking at your organisational chart, this process seeks to gain a deep insight to your business, so that we understand it as intimately as you do, from your long term strategic goals and objectives right down to the most detailed processes and procedures.
After we have gained a thorough understanding of your business, we’ll design an offshore strategy that’s specifically tailored to your organisation. Diversify will work in partnership with you to ensure a successful implementation.
We have a structure implementation methodology proven in its success with large organisations.
Unlike many offshore providers, our tailored strategy will include the development and execution of a full change management plan to ensure a smooth transition to an offshoring model and on-boarding of your new team. Your Diversify Operations Manager is always available to ensure optimum performance of offshore employees from the outset. That’s the Diversify difference.
Building a high performance culture
Diversify offers full management support of your offshore team. We provide: a great working environment; cutting edge technology; professional development; and a supportive and nurturing culture including staff events all year. We manage all of the operational aspects of your employees, leaving workflow and workload management to you.
Our people have an unusually long average tenure with us. They love our culture and work hard for their overseas employers. By focusing on building a rewarding culture, we have achieved one of the highest retention rates in the offshore industry (97%). This translates to your offshore people staying with you long term; growing a deep understanding of your business; and delivering the outcomes you’re looking for. They’ll become integral, value adding team members.
Diversify charges a one off, monthly fee that includes everything from salary through to benefits and service costs, which is agreed to up front. This keeps things predictable for your budgeting and projections.