Tom Peters rightly said,
'Do what you do best and outsource the rest!'
Outsourcing as a concept is not a new notion but it has been in existence since past thousand years. The concept achieved new heights and glory in gaining a competitive edge in marketplace. Outsourcing is a term given to a phenomenon when a third party vendor is asked to accomplish certain tasks on contract basis.
But why do people outsource and give the tasks to third parties even when they can handle it all in their own company or area?
Well, answer lies in the unlimited benefits behind outsourcing. India has emerged as a strong position holder in this field and many countries look towards India for accessing a plenty of benefits that India offers.
No, it is not just the reduced costs but a dozen of other benefits too that attract companies from other countries towards India, inclusive of better strategic planning, a pool of talented skilled professionals, quick turnaround time and ultimately more profits!
Let’s see each of these factors in detail.
Access to large pool of talented and skilled professionals
All businesses are not competent in all the fields. By this, we simply mean, you might have an in-depth knowledge of landscaping services, but marketing your services might not be your cup of tea! This is where outsourcing can be of serious help to you. Accessing a large number of skilled professionals related to your field is a child’s play in India. With so many outsourcing companies, you can coordinate and interact with a large number of professionals within a single click.
Uninterrupted focus on main business activities
Outsourcing a part of your business to third party keeps the unwanted chaos and confusion aside on the shoulders of the company you are outsourcing from. The resources and inputs which you would have then allocated in handling the task can now be assigned and better utilized in main business activities, thus boosting your productivity. This explains another need of outsourcing.
Running the business 24 * 7
India shares a different time zone. You can run your business even when your in-house employees go to sleep, thanks to the difference in time zone. Your business partner in India would be working at that time and would handle the required responsibilities easily. Thus managing your business efficiently and again maximizing the productivity.
All these benefits at a reduced price!
What more can a company long for when all these benefits are available at a much reduced cost? A company in US can save as much as 60% of the total cost by outsourcing to India. Why?
This is because of the currency difference. 1 dollar is approximately 60 times the Indian currency!
These are some of the untouched and hidden benefits that the company in US or UK looks forward to get the work outsourced. Directly or indirectly, outsourcing work from India helps them in boosting their productivity at reduced cost!