The buzzword every where for business owners looking to broaden customer base and satisfaction levels besides raising productivity and profitability while reducing costs, is no doubt, outsourcing! But, what is this new-age business management all about? Let’s take a quick overview of outsourcing and what it means for the foreign investor:
Overview of outsourcing: learning about types of outsourcingOutsourcing simply means the delegation of a certain portion of business functions and responsibilities of a foreign based firm, be it their management and/or day-to-day execution of the same to some external service provider. If the latest reports are studied, the market shows a distinct trend of outsourcing firms located in India being preferred providers for UK and US based companies since they have the necessary business policies and work-place ethics including acculturization programs in place to initiate new employees (all highly qualified staff) to the global perspective of their client. This kind of healthy and modern business practice makes for overall growth and productivity of the outsourcing firm and helps client company feel at ease while discussing their needs for business growth in handing over reins to a local support group where cultural diversity and off shore outsourcing are a distinct advantage.
When the outsourcing is kept within the bounds of the same continent, it is known as Nearshore outsourcing and this may not have as many downsides to the cultural diversity and off shore outsourcing process as one that takes the business functions out of the continent of the parent company.
Acculturization programs help integrate cultural diversity and off shore outsourcing needs: typically introduced at regular intervals in Call Centers and KPOs.
Typically, the process of off shore outsourcing occurs in a certain pattern: at the negotiation stage, the client organization and the off-shore supplier enter into a contractual agreement that will outline the transferred services. This agreement grants the supplier the power to productively utilize certain number of people, assets and other resources from the client company in order to establish the same level of service standards, but mostly at a lowered cost and lesser turn-around-time than the in-house option would have done. The most common industries that have availed the benefits of offshore outsourcing notwithstanding cultural diversity and off shore outsourcing dilemmas are IT, HR, Office Administration and Facilities Management as well as Payroll, Accounting, Real estate management as well as back-end support. The latter category has worked the best for foreign customers willing to educate and overcome cultural diversity and off shore outsourcing factors to make these strengths in registering higher gains through regular acculturization programs, typically related to BPO functions like telemarketing, IT help-desk support, customer information services and market research.
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