Who really outsources?

industries-that-outsource

Outsourcing is not limited to a single or a few industries, but have you asked if your industry is fit to outsource? What industries venture into outsourcing and what roles do they typically outsource? Why did they outsource – that is, outsource offshore?

Here are a few different industries we currently work with, proving that any industry can leverage the benefits:

Food & Beverage

This includes businesses distributing & supplying fresh produce and chains of small to mid-size restaurants, like pizza places! Because of the ever-growing food & beverages industry, owners are finding it hard to monitoring every little detail of their business such as payroll & bookkeeping, order management, and collections. Outsourcing these tasks eased their way towards scaling and getting ahead of competition.

Financial Services

Accounting firms, now more than ever, are facing challenges to scale and streamline their process while trying to stay competitive in the market, we’ve also seen a real lack of availability of staff in back office areas. Given the availability of numerous technologies and the rising number of competitors, accounting firms started looking at outsourcing their bookkeeping and accounting functions so that onshore goals are focused on growing and innovating, among many other reasons.

Retail

Whether it’s service or goods-based retail, the industry has looked into outsourcing as a way to manage different functions of their business that can create efficiencies without compromising customer experience.  Customer service has taken priority for retailers, Live chat is becoming more and more important as customers prefer being helped in an instant and will be surfing across multiple websites. Retailers also finding increasing challenges with order management as they try to keep track deliveries and communications between factories, suppliers, and customers. Bookkeeping and accounting are also outsourced so onshore team can take their time growing the business.

Business Consultancy & Services (Architecture, Legal, Real Estate, Events, etc.)

This industry specializes in very specific services. Understandably, their non-core functions are then outsourced to a service provider so that their in-house teams can get their attention back on their specialized service and growth. Our customers from this industry look to outsource specific full-time roles and functions both to save on cost and free up time.

Health & Fitness

People today are getting more and more concerned with their health and overall wellness. As a result, businesses such as gym franchises and medically specialized clinics hand over functions that will distract them from their core business. Some of these tasks include their back office and admin tasks so that onshore operations would solely be for servicing their customers.

IT Services

Probably the most in-demand industry today, the IT industry met demands by outsourcing some of their specialist roles to save cost and time. The Philippines is known to have large pools of capability specializing in Information Technology such as developers, tech supports, service desk specialists, and the like.

In addition to these roles, IT companies also outsource their non-core business functions like bookkeeping and accounting, and sales.

Marketing & Advertising

To save on cost, address time differences, and to source experts are a few reasons marketing and advertising companies outsource. Roles and functions concerning editing, writing, and digital marketing are often outsourced to service providers. Because these companies usually have their own processes in place, outsourced dedicated staff are the most common model, as they prefer direct communication and control of their offshore team.

Trade & Construction

Due to the nature of the industry, Trade & Construction rely on efficient communication between all channels. Business owners from this industry spend most of their time managing the whole process from sales to after-sales service and the whole job in between, leaving them no time and energy to do the functions to keep the business running. Hence, functions such as bookkeeping, accounting and virtual assistant services are utilized offshore.

Beauty

With people aiming to looking good day in and day out, the beauty industry has also become one of the busiest industries today. Hairdressing and beauty business owners take their non-core business functions offshore to keep themselves busy in growing their business. The usual tasks providing the most value offshore are back office, administration, finance and accounting.

You can do it too!

All sorts of business types and sizes look at outsourcing as a sure way to save, grow and transform. Business owners outsource different tasks so they can do what they do best and put the focus back on why they got into business.

Nevertheless, outsourcing takes time,preparation and experience. You should consider a few things, like choosing the right outsource service provider and getting your questions about outsourcing answered. That’s because the truth is that while any industry can outsource, not all businesses are ready.

We’re happy to keep the conversation about you and your business running.


Are you an accountant or a key business decision maker in accounting practices?

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