Many entrepreneurs feel apprehensive about outsourcing while there are thousands who heavily bank on off-shore talents either for recruitment IT support, management or for marketing and strategy. Since new millennium, outsourcing has emerged as a gigantic sector that contributes hugely to the world economy.
According to Statista.com, the total revenue of global outsourcing industry in 2014 crossed $100 billion. While IT accounted for $76.1 billion, BPO got a share of $28.5 billion.
These figures are indicative that the process does come with a set of benefits and cuts many hassles at one go.
Of all the outsourcing concepts and offers business project management outsourcing is less popular but this approach can serve small and medium scale enterprises in a number of ways.
Let us explain—
1. By hiring individuals for managing and monitoring your business projects you can remain assured that the projects will be finished within the deadlines. The reason is simple. When you are making a contract, the agency or the professional is bound to deliver as per the norms. Breaching contract means they will have to compromise the paycheque.
2. As you are not employing them, you can save the cost of providing dedicated workstations. The off-shore team will work from their own base with their own devices and you won’t have to pay a buck for the set-up.
3. If you outsource a project, the agency or the professional will take care of it all–right from the planning, execution to final deployment. You’ll just need to follow-up.
4. If you can implement a good cloud solution then managing an off-shore team will be more cost-effective and easier than managing an office full of employees. You can check the status of the project anytime and keep monitoring on the go. Besides you can get informed about the updates real-time.
5. Outsourcing enables you to expand your business bandwidth without investing a substantial amount for infrastructure building.
6. It is rather easier to assign a skilled off-shore agency or professional than recruiting an employee. You will be saved from the cost and hassles of induction and won’t have to bother about the HR best practice issues.
Please let us know whether you agree or disagree with our points.
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