Did you know that 54% of companies outsource operations to a third-party company, and 66% outsource at least one department?
This is because outsourcing, including IT outsourcing, offers numerous game-changing benefits, from cost savings to the ability to operate 24/7. Every day, companies are experiencing compelling reasons to outsource operations offshore.
In this article, you’ll learn about the significant benefits of outsourcing and how to take advantage of them.
Outsourcing is Cost Efficient
In our fourteen years of experience, we’ve noticed this is a benefit of outsourcing that everyone’s after – and for good reason.
If you’ve read our article on how companies save 75% of costs just by offshore outsourcing, you’re familiar with how it works.
This is mainly because wages are more affordable in other countries than the US, helping you save significantly.
Let’s pull out some numbers as examples:
According to U.S. News, the median salary of a software developer was about $127,260 in 2022.
Based on Glassdoor, Indeed, and PayScale information, you can hire a Filipino developer for a fraction of that cost.
In addition to labor costs, you save on rent, utilities, and infrastructure costs. A reduced price tag on operations allows you to maximize your team.
Imagine how much you can save by offshore outsourcing.
Outsourcing Gives You Full Access to Talent
By focusing your hiring strategy on offshore developers and workers, you will be able to hire the best people in the world. Hiring the best and brightest is a helpful benefit of outsourcing.
You get access to diverse skills, experiences, and backgrounds, which is quite healthy for businesses looking to hit the global market.
Enlisting a team with different cultural perspectives also unlocks creativity and innovative solutions. This is paramount for a company’s growth in this day and age of inclusivism and globalization.
Outsourcing Enables You to Focus
Because you can delegate tasks to your offshore team, you can focus on the meat of your company’s operations, such as strategy and marketing. A boost in productivity is achieved when team members can concentrate on their primary roles without worrying about non-core tasks.
When teams can free themselves from non-essential tasks, they can produce high-quality work that is always great for business, and that’s a great benefit of outsourcing.
Outsourcing Gives You Flexibility
Flexibility is a great benefit of outsourcing. Having a dedicated offshore team enables flexible operations. You can leverage varying time zones to ensure continuous progress on projects and goals.
Think of it this way: at the end of the day, you can fall asleep while having your offshore team continue (and even finish) tasks with your eyes closed. Doing this will increase production time and time-to-market on project delivery, allowing your company to stay on top of its game.
Additionally, adapting to different time zones can create more flexible working arrangements, which often boost productivity and work satisfaction.
Offshore Outsourcing Helps Manage Risks
Having a team in an offshore development center helps mitigate risks by diversifying work across multiple locations. When a company distributes its operations across different geographic areas, it spreads its work and resources, reducing the impact of any single point of failure.
For example, if a natural disaster, political instability, or technical issue affects one location, the company can continue operations in other, unaffected locations.
This geographical diversification ensures that the business can maintain continuity and productivity despite local disruptions.
Final Thoughts
Outsourcing is a powerful strategy that many companies are leveraging to enhance their efficiency, productivity, and competitiveness. The benefits of outsourcing, such as significant cost savings, round-the-clock operations, access to a global talent pool, and risk mitigation, make it an attractive option for businesses of all sizes.
As the business landscape evolves, those who embrace offshore outsourcing will be well-positioned to thrive in an increasingly globalized economy.
Are you considering how offshore outsourcing can transform your business operations and help you stay ahead of the competition?
Let’s chat to clear your doubts.
