The basic idea behind outsourcing is that you pay an existing company to do certain tasks for you rather than having designated staff members handle these responsibilities. Outsourcing is often a mutually beneficial agreement between two companies that helps both thrive in terms of money and overall results. Here are some of the top industries that benefit from outsourcing and why it may be the right move for your company.
Accounting
Not every company needs to hire designated accountants to handle the money. At the same time, every company needs people who can ensure that all the money is going to the right place and accounted for. There are specialized accounting firms that handle the finances of hundreds—possibly even thousands—of companies. Rather than training financial specialists internally, companies can hand the paperwork to a trained professional to make things a lot easier.
Research and Development
Research and development is an essential part of many companies. The department helps them figure out how new products work and what new innovations are possible. However, it’s also a lengthy and expensive process that can make things difficult if the R&D system goes on for too long. Sometimes, a company may just need to outsource the handling of a specific compound so they can quickly get it into production. For instance, there are many good reasons to outsource chemical R&D that can help your bottom line over time while allowing you to focus on other aspects of the project.
Customer Service
Customer service is one of the top industries that benefit from outsourcing. Whether customers are calling with complex questions about their products or services or merely calling to complain about the last person they spoke to, you’ll almost always have customers who need assistance. It’s natural to want to help them, as that reflects well on your company, but you’d have your employees on the phone nearly nonstop if they had to answer every call. Instead, outsource to a designated call center of trained specialists who can guide customers through their questions, comments, and concerns without taking too much time away from your staff.
Retail
One of the most difficult parts about retail is that it requires a lot of space. Instead of containing all your inventory in your stores, consider outsourcing to some warehouses that can hold onto your stock and ship it out for online orders or in-store pickups. Many retail companies discover it’s more cost effective to outsource storage options than it is to rent or buy a warehouse.