Have you ever found yourself in a situation where it doesn’t feel like you can get everything done in time and before you know it, you’re at the end of the day with some empty tick boxes on your to-do list?
Trust me, you’re not alone. I’ve definitely been in this situation myself as I’m sure a number of us have. Not only are you not completing your to-do list, but you’re also pushing back the things you’ve put time aside to focus on.
This is a particular nuisance if you’ve got a project or initiative you need to kickstart, that will allow your business to increase the value it gives to customers.
Fortunately, there is a way to give yourself more time, so that you can focus on initiatives that will increase company value, your customer base, and give your business the support it needs to grow.
It’s called outsourcing.
You may have heard about it before but not fully understood how you could incorporate it into your company. For example, you could be outsourcing your business telephone calls or having customer questions answered on live chat. That’s why in this article we’re going to go into detail about what it is, how it can help your business, and what solutions are available to you and your business.
If by the end of this you would like to know more about the premium communication tools Cymphony offers, you can contact an experienced member of the team to discuss your business goals and how Cymphony can help you get there.
What is Outsourcing?
Outsourcing is the act of using an external supplier rather than completing a task in-house. YouGov highlighted that in the UK, 70% of businesses currently outsource certain operations to specialist companies outside of their organisation.
A wide range of companies use outsourcing for a wide range of tasks, for example, from IT and payroll to content and social media management. This shows that no matter what the function, it’s almost guaranteed that it can be outsourced.
Small Biz Daily explains in one of its articles how historically, outsourcing was only considered affordable for large businesses. Nowadays, it’s accessible to SMEs and big businesses alike as a way to utilise the skills of experts in the industry, whilst also being a significant cost-saving method.
Understandably, outsourcing can be a daunting prospect; trusting an external agency to share the same vision of your brand, and to work just as hard. Taking the time to research the reputation of potential outsourcing partners is worthwhile and the rewards you can reap are well worth the effort.
So, what are the benefits of outsourcing?
Turn it On, Turn it Off
Outsourcing is great as it is completely flexible to your business needs, whenever and wherever you need it. Unlike hiring in-house, outsourcing can be used solely when needed. This flexibility means that businesses can benefit from immediate support without a big commitment.
For example, at the end of the financial year, it is common to need some extra support to assist the finance team. During periods of staff shortages such as school holidays when people are more likely to take time off, outsourced services can be introduced temporarily to relieve the strain.
As a Forbes article on continuity and risk management highlights, it’s essential to ensure that interruptions to your business do not have a negative effect on staff or profits. An easy way to avert a crisis is to identify an outsourcing partner who can assist when needed.
It is unnecessary for a small business to employ a member of staff to monitor IT issues which, for the majority of the year, run smoothly.
However, outsourcing to an IT expert to help when your systems go down could save countless hours, frustration, and lost productivity trying to rectify the problem.
You can further see how a businesses could benefit from outsourcing one of its functions by reading the article ‘how a telephone answering service can get you leads 24/7‘, which breaks down how to always capture calls whilst also focusing on your business’ bigger picture.
Businesses most frequently start out with a single focus.
You manufacture a product, you provide a service, you sell an item. That is the core of your company.
However, what is frequently underestimated is the time it takes to do “everything else”. That is the list of things that have to be done but aren’t necessarily part of your skillset as a director. For example, the administration side of things which includes finance, payroll, employee sickness and customer service.
Outsourcing these tasks allows businesses to retune their focus and get back to what’s important. It can increase efficiency tenfold when your expertise is spent dedicated to your craft.
For example, an outsourced communication provider like Cymphony can minimise interruptions from phone calls, meaning productivity levels can increase without compromising on customer service or availability.
To give you an idea of how outsourcing an aspect of your business, such as telephone answering, can really help, I encourage you to read the article ‘5 ways a telephone answering service can increase your leads‘ to give you a better understanding of what premium communication services can do for your business.
At every stage of our lives, we constantly prioritise what is important and what should take up the majority of our precious time. A few minutes here and there may not seem like a lot but it can add up to huge disruptions and time accumulated away from your focus, every day.
Use a Premium Outsourcing Provider
As much as we might hope we do, unfortunately, we don’t know it all. So why would we expect to be the expert in absolutely everything when it comes to running a business?
There are dedicated businesses across the country that are experts in what they do. Outsourcing is a great way to take advantage of their knowledge.
Although a huge draw to outsourcing is cost-saving (we’ll come to that later), the skills harnessed through outsourcing can outweigh even the financial advantage.
Why would you not want to access the abilities and experience of a business that has been working in customer service for 20 years?
Or use the payroll provider who knows the industry inside out and can complete the task in a fraction of the time it would take to do it in-house?
Not only does outsourcing tap into these skills, but it also provides access to a wealth of resources and infrastructure otherwise unavailable to your business.
Scale by Outsourcing
There are many reasons why you might want to scale up your businesses. Maybe you want to reach a wider audience, make the most of opportunities offered by a new geographical location, or enhance the growth in sales that comes with a good reputation.
Opayo highlight in their article ‘The Importance of Scaling your Business’, that it’s vital to be able to take on a larger caseload to meet your customer demands, without compromising or overstretching your business.
Commonly, expanding a business requires an increase in staff and office space. Outsourcing many essential or highly skilled tasks allows businesses to instantly scale up without taking this expensive step.
Using freelancers or external companies gives you instant access to skilled individuals who can help grow your business, without the need for long recruitment waits and large expenses.
As your business grows, it shouldn’t be held back by an overwhelming number of minor tasks associated with growth, which could easily be managed through an outsourced medium.
A huge draw for outsourcing is the large cost savings it can provide. Money commonly spent regularly throughout the year on things like recruitment and retention, software, technology and training can accumulate into huge amounts.
Rather than year-round expenses, outsourcing only charges fees for the work provided; potentially saving your business a fortune.
Despite handing over to an external entity, outsourcing actually provides a great deal of control.
Businesses are able to control the level of input, the time frame, and exactly which services are required, along with being able to monitor progress as it happens. Not only this, but the commitment is minimal and usually flexible to your needs. Costs are also completely controlled, reducing the risk of expensive surprises cropping up.
Does Your Business Take Advantage of Outsourcing?
I want to thank you for reading this article and going through these points with me today. You should by now have one idea, or more, on how outsourcing can add value to your business operations while not impacting your branding or customer service.
The one thing we didn’t go through together is how using premium communication tools like a telephone answering service, managed live chat, and virtual personal assistants can help your business specifically.
Hundreds of companies across the UK use Cymphony, as a trusted partner, to handle their customer service channels and we would love to tell you how!
Please contact an experienced member of the Cymphony team today, so that you can find out how your business can excel with a tailored approach where your goals become our highest priority.