Everything you need to know about the benefits of outsourcing for your business

Posted by - Tim Morris on the 19th August 2020

Have you ever found yourself in a situation where it doesn’t feel like you can get everything done and before you know it, you’re at the end of the day with some empty tick boxes on your daily to-do list?

Trust me, you’re not alone, as I’ve definitely been in this situation as I’m sure a number of us have. Not only are you not getting everything on your to-do done, but you can also feel like what you’ve been putting time aside to focus on is constantly getting pushed back.

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 you can focus on initiatives that will increase the value, increase your customer base, and give your business the support it needs to grow.

It’s called outsourcing.

You might have heard about it before and not fully understood the benefits of outsourcing something like having your business telephone calls taken care of or getting users 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.

The range in where outsourcing is used is huge with it being used in functions from IT and payroll to content and social media management, showing that no matter the function it’s almost guaranteed that it can be outsourced.

Small Biz Daily explains in one of its articles how historically outsourcing was considered only affordable to 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 being a significant cost-saving method.

Understandably, outsourcing can be a daunting prospect to trust an external agency to share the same vision of your brand and 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, when and where you need it. Unlike hiring inhouse, 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, services can be introduced temporarily to relieve the strain.

As a Forbes article on continuity and risk management highlights, it’s essential to ensure interruptions to your business do not lead to a negative effect on staff or profits. An easy way to avert a crisis is to identify an outsourcing partner to assist when needed.

It may be unnecessary for a small business to employ a member of staff to monitor IT issues that 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 see how businesses benefit from outsourcing a function of its business by reading the article ‘how a telephone answering service can get you leads 24/7‘ where it breaks down how you can still capture your calls while focusing on your businesses bigger picture.

Prioritisation

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. For example, the administration side of things that include finance, payroll, employee sickness, and customer service.

Outsourcing these tasks allows businesses to retune their focus and get back to what’s important. This can increase efficiency tenfold when your expertise is spent dedicated to your craft.

For example, an outsourced premium communication provider like Cymphony can minimise phone call interruptions; meaning productivity levels increase without compromising on customer service or availability.

To give an idea to how outsourcing a function of your business such as telephone answering, 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.

In every stage of our lives, we constantly prioritise what is important and what has to take up our precious time. A few minutes here and there may not seem like a lot but can add up to huge disruptions and time accumulated away from your focus every day.

Get a premium outsourcing provider

As much as we may dream it, unfortunately, we don’t know it all. So why would we expect to be the expert in 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 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 the 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 with outsourcing

There are many reasons why you may want to scale up your businesses – to reach a wider audience, opportunities offered by a new geographical location, or the greater sales that come with a good reputation.

Opayo highlight in their article ‘The Importance of Scaling your Business’, it’s business vital to take on a larger caseload, meeting 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.

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 tied up with back end tasks associated with growth that could easily be managed through an outsourced medium.

Save money

A huge draw for outsourcing is the large cost savings it can provide. Money commonly spent regularly throughout the year in actions such as recruitment and retention, software, technology and training can accumulate to huge amounts.

Rather than year-round expenses, outsourcing charges fees for the work provided – often only paying when you use the service, potentially saving your business a fortune.

Despite handing over to an entity external to your company, outsourcing actually provides a great deal of control.

Businesses are able to control the level of input, time frame, and exactly what services are required and monitor progress as it happens. Not only this, but the commitment is minimal and usually flexible to your needs. Costs are completely controlled, reducing the risk of expensive surprises that can crop up.

Does your business take advantage of outsourcing?

I want to thank you for getting to the end of this article and going through these points with me today. You should by now have an 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 that include 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 its customer service channels and we would love to tell you how!

Please contact an experienced member of the Cymphony team today where you can find out how your business can excel with a tailored approach that puts your goals as our highest priority.