The COVID-19 pandemic has been extremely challenging on our global economy. Retail & eCommerce, Manufacturing, Financial Services & Lending, Tech & Digital, Construction & Engineering, Automotive, and other industries have been disrupted and forced to adapt to the fast-changing economic landscape.
To navigate the crisis and pave the way for business recovery, many companies have turned to offshoring as a strategy to improve operational efficiency and keep the business running in the midst of disruption.
Now, more and more SMEs are building their offshore outsourcing capability as a vehicle to reboot and pivot their business. Here are ways offshoring can help fast-track your business recovery.
Offshoring is an effective cost-saving strategy that can help save up to 70% of your labour or fixed costs.
Your offshore partner will take care of the hiring process for the resources your business needs. This will help bring down your time-to-hire and, ultimately the costs of sourcing and recruiting talent. Apart from recruitment costs, you can also save on other operating expenses, such as infrastructure, rental, utilities, and IT equipment. Your offshoring partner will also oversee day-to-day operational responsibilities, including HR, payroll, and IT support.
Having an offshore team saves you considerable time and costs, which you can reinvest to grow your business and pave the way for recovery.
Access to Highly-Skilled Talent that may be Challenging to Source Locally
Skill shortage is one of the critical factors that affect business growth and recovery. There are roles that are difficult and expensive to hire locally, which pushes up a company’s operational expenses. This is why having access to a broader pool of talent overseas is an asset to any business.
You can tap into a more diverse pool of highly skilled talent globally when you offshore. Your offshoring partner can help you source candidates with specialized skills in areas, such as Customer Service & Sales, Creative Design & Content, IT & Software Development, Finance & Accounting, and Digital Marketing. Offshoring gives you access to talent with high English proficiency, professional qualifications, and industry experience that match your business needs.
Ability to Fast-track Digital Transformation with Highly Experienced Tech & Digital Talent
Combined with commitment and clear strategy, your offshoring partner can help future-proof your business.
Create a team of highly skilled tech and digital talent, such as Programmers, Web Developers, or Data Engineers who can help automate your business workflow/process, increase employee productivity, improve customer service, develop nimble technology to fast-track your digital adoption. With the right offshoring business team, your digital transformation can happen in a matter of months, not years.
Fewer Operational Disruptions
One of the most significant advantages of offshoring is it allows you to operate with fewer disruptions. Whether it’s day or night, during or after the pandemic, your offshore team can continue functioning within business operating hours or even extend operations to 24/7, depending on your arrangement and available resources.
We all know that expanded operating hours can significantly improve response time, customer service, and brand reputation, leading to more sales for your business.
Create New Market Opportunities
Lastly, offshoring provides you with an opportunity to explore new markets. Having offshore staff extends your local team’s capability, allowing you to create new products, services, and cover new regions.
Offshoring can help you scale your capacity, so you can increase productivity and offer better services to your existing and new customers.
Ready to Revitalize Your Business Through Offshoring?
Offshoring is beyond a cost-saving strategy during this time of crisis. It is a viable solution to scale your business and acquire needed resources to support your recovery and growth plans.
Reduce cost, adapt your operations, and start rebuilding your business. Reach out to a trusted offshoring partner today and see where it can lead you.