Insourcing or Offshore managed services is when a third-party provider gives your business virtual assistance in varying office tasks, for example, insourced office assistants. This is typically it is when the back-office processes are delegated to a remote team as a way to save money. Some of the processes are not money generating but remain vital to the standing of the business. Entrusting them to an insourcing partner is not something that should be undertaken lightly. As you enter into an insourcing contract after extensively vetting them, it is important to have a full understanding of your insourcing partner. You have to understand the opportunities that exist as a way of minimizing the impact of possible problems.
In business, there are two types of roles that the team has to carry out. These are; customer-facing roles and back-office roles. Back office tasks include a wide range of administrative tasks like order processing, accounts, and billing, data processing, data scrubbing, logistics, etc. These back-office tasks are incredibly important to the effective functioning of the organization. Even though they are essential, most companies choose to outsource these tasks to BPO companies to reduce operational costs.
There are some criteria that every company has to consider in order to choose a company that they will outsource or offshore their back-office processes.
Language Barrier
Ensure that the staff of that country speaks and understands your native language. It is not just a matter of the language but also terminologies. If you work in a specific sector, your insourcing partners should be able to understand all the required business terminologies. This helps make sure the back end processes and documentation are carried out without a glitch that may end up costing you. At ZimWorX we ensure that your team members are not only fluent but eloquent in speech. Team members are all Zimbabwean which is a former British colony, hence the great grasp of the English language.
Complete Data Security with insourcing
Your company’s data is something that is absolutely confidential. One of the biggest concerns that businesses have while insourcing their backend tasks is the security of their data. While choosing which company to outsource to, ensure they have a good track record of data security and you get a written agreement ensuring complete data confidentiality. Check to see if they follow data protection policies and use a VPN to ensure extra protection.
Domain Expertise
Whatever industry you serve there are certain standards that exist in all these sectors. While outsourcing, you cannot compromise on quality. Hiring an insourcing company that has expertise in that particular sector will always be an added advantage. If you are offshoring, make sure that the insourcing company is aware of the standards and practices of your country.
Cost Benefits
Cost reduction is the key advantage of insourcing back-office processes. Pick a company that offers you the best price in terms of cost reduction. Normally, by offshoring businesses can get the work done at just 1/3rd the cost of handling a process in-house. Some number crunching will be required to come to the conclusion that which company offers the best cost benefits for your company.