Which is Better?
Research reveals that a mixed approach towards outsourcing and shared services strategy is optimal. Many companies are motivated to externalize their support services to third parties, while at the same time others prefer to focus on their shared services model. As per research, the following trend has been observed:
Both of the above-mentioned means of doing business incur their own benefits and risks, and each company has its own reasons for choosing a specific model. Generally, however, businesses seeking greater flexibility, multi-regional support, and access to technological innovations at low cost would benefit more from outsourcing than shared services. The reason is that countries like Pakistan, the Philippines, and China have developed their outsourcing industries to such a high level that their BPO firms can offer any type of technological solutions at a tremendously lower cost when compared to the implementation of a shared service model within the company.
Learn about Premier BPO’s outsourcing model which operates on Right-Shoring ideologies; designing solutions customized to your business needs. We lift and shift your operations to the prime location, reducing your overhead costs while providing high-quality work. Visit our website to get a free limited consultancy or drop us a query at our contact page and we will get back to you at the earliest.
Author: Shafiq U.Rahman
Shafiq Rahman is Premier BPO LLC’s Digital Marketing Executive. Prior to joining Premier BPO LLC, Shafiq held several senior management positions in banking. He was CEO of a Citibank subsidiary and Regional Sales Head for Payment Product for North Asia, Global Head of Electronic Trade Products at Standard Chartered Bank, Head of Product Management at ABN Amro, and Regional Head of Trade Products at JP Morgan. He is experienced in relationship management, sales, product management, and operation management. He has extensive international experience and has lived and worked in eight countries.