The United Kingdom is ranked at number 2, when it comes to outsourcing deals while US holds the first position.
The last two decades have witnessed a grave change when it comes to how industries work and companies function globally & locally. Because of technology advancements and internet boom, work models have changed drastically. Outsourcing has become a common practice, regardless of the size of enterprise.
ITO (IT outsourcing) and BPO (business process outsourcing) are the two most dominating industries in the world. In 2018 alone, the total revenue of global ITO industry amounted to $62 billion.
It is a well-known fact now that outsourcing is a reliable, and cost-effective solution. What might cost a company thousands of dollars if done in-house can be reduced to hundreds of dollars with an outsourcing company. Another great advantage is that outsourcing is also a time-saving solution.
According to Statista, global market size of the outsourcing industry reached $85.6 billion in 2018.
You can only get these benefits if you choose the right outsourcing partner. Because if somehow you end up patterning up with an outsourcing company that does not provide services the way you thought or their quality is not up to your standard, you will not only waste considerable amount of time but also money.
It is crucial that the outsourcing partner is chosen after extensive research. It is not an overnight job and should never be taken as one.
When a great outsourcing partner brings significant benefits for your company, a poor outsourcing partner becomes a headache that only grows with time and ends with the contract getting cancelled.
Honesty, integrity and passion are some of the essential aspects that should be taken into notice when choosing an outsourcing company.
If the company does not have integrity or does not do honest work, it will backfire in the long run for both you and the outsourced partner. By having passion for the client’s projects, they can ensure that the quality of work will be top-notch and innovation will always be given priority.
If you are considering to outsource your IT operations to a company, we have compiled a list of factors that need to be checked before you pick one. Let’s take a look:
Understands your requirements
Before starting the hunt for the right partner, it is first important to understand what your requirements are. What is that you need to outsource? Here are some of the basic questions that you should have answers for:
- Do you want to outsource a single project? If yes, is it one-time or recurring?
- Do you want to outsource the entire tech team or partial team?
- Do you want to have your mangers working with the outsourcing team or will they be on your own?
- What is the expected time scope of the project?
- What are your technical requirements for the best outsourcing partner?
- What are the solutions you have in mind?
- Have you identified your business goals?
- Have you prepared an objective roadmap?
What is their expertise
Now that you have identified what your requirements are have a clear idea about what you need, it is time to start evaluating potential outsourcing partners. Typically, the first step would be to do a quick Google search to shortlist a few companies that appear on the first page of search.
You might also ask friends and colleagues if they have had any experience with an outsourcing partner or not. At the end of the day, you will have a list of a few outsourcing companies that seem to fit shoe.
The article is a work in progress.