May 12
Why Outsourcing
Outsourcing 3 Comments »Outsourcing is the transfer of the management and/or day-to-day execution of an entire business function to an external service provider.
The economist, Adam Smith, says in his treatise The Wealth of Nations, “If a foreign country can supply us with a commodity cheaper than we ourselves can make it, it is better to buy it of them.” Outsourcing as we know it today is merely a progression of an idea that has existed since early days of trade.
- Cost savings. The lowering of the overall cost of the service to the business. Access to lower cost economies through off-shoring the wage gap between industrialized and developing nations
- Cost restructuring. Operating leverage is a measure that compares fixed costs to variable costs. Outsourcing changes the balance of this ratio by offering a move from variable to fixed cost and also by making variable costs more predictable.
- Improve quality. Achieve a step change in quality through contracting out the service with a new service level agreement.
- Knowledge. Access to intellectual property and wider experience and knowledge.
- Contract. Services will be provided to a legally binding contract with financial penalties and legal redress. This is not the case with internal services
- Operational expertise. Access to operational best practice that would be too difficult or time consuming to develop in-house.
- Staffing issues. Access to a larger talent pool and a sustainable source of skills.
- Capacity management. An improved method of capacity management of services and technology where the risk in providing the excess capacity is borne by the supplier.
- Catalyst for change. An organization can use an outsourcing agreement as a catalyst for major step change that can not be achieved alone. The outsourcer becomes a change agent in the process.
- Reduce time to market. The acceleration of the development or production of a product through the additional capability brought by the supplier.
We provide few outsourcing options which includes:
- outsource whole IT department
- outsource IT Security Team
- outsource new application development
- outsource maintenance of ongoing application
New trends of outsourcing is called holistic outsourcing, good reading can be found here.
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