Outsourcing refers to hiring a third party to complete tasks that would normally be handled in-house. This third party could include another firm, a freelancer or a consultant.
For many SMEs, deciding to outsource can offer a range of advantages. If you are considering outsourcing, then here are five of the biggest benefits.
Make Savings
With limited staffing or budgets, it can leave SMEs stretched and struggling to keep up. However, outsourcing tasks has the potential to save time and cut business costs. This could prevent the need to hire new staff for temporary needs, or tasks that are completed once a month. It could also increase productivity, freeing up time for employees to focus on core business activities, or reducing hours spent on project management and planning. As such, outsourcing could result in savings all round.
Reduce Risk
Operating an SME comes with a huge range of risk and responsibility. For example, this can include handling sensitive data, complying with GDPR and following tax laws. This is where outsourcing can help to mitigate risk. For example, when it comes to storing sensitive data, utilising a cloud host with specialist knowledge, systems and software, could reduce the risk of a breach as well as its legal repercussions.
Stand Out
For many SMEs, limited funds and staffing often means they struggle to compete with larger firms. However, outsourcing has the potential to help you stand out in the market. By accessing more advanced services and skills, it could help to elevate your business, with the potential to open up your SME to new opportunities, projects and a wider customer base.
Better Services
Outsourcing could help your SME to provide its customers with a better, more advanced service. For example, outsourcing shipping to a courier like InXpress could result in a wider choice of delivery options, tracking information and enhance their overall experience. It could also make your small business appear more established, helping to build your brand.
Stay Open
In a digital world, we have got used to being able to access what we want, when we want – from instant communication to ordering food at 2am. Outsourcing could help your SME operate continually, keeping your business open around the clock. This means that even while you sleep, parcels can be shipped, and customers can speak to an advisor.
Outsourcing can offer a huge variety of benefits to SMEs, from saving money to helping a small business compete with larger firms. Consider outsourcing to see how it could help your company.