Infinit-O Outsourcing
by on October 16, 2019

The world’s busiest economies practically consists of startups. According to Startup Rankings, the USA had 28,862 startup companies in 2018. India followed at 4,781, while the UK had 2,989 companies. All these small business owners face one challenge: starting and sustaining a profitable business. Unfortunately, not all startups make the cut. The global average of closing down within one year is at 90 percent. How then does the other 10 percent make it?

A Deloitte global outsourcing survey reports that 53% of startups outsource their IT functions, and that 66% similarly delegate other process-based tasks. Outsourcing isn’t just a cost-effective solution for these startups, it is an imperative for them to compete and grow. Delegating important operational tasks such as finance, accounting, IT, RCM, analytics, research, and customer service to ensure consistent and smooth operations as well as cost savings. As a result, the company is more prepared to manage the difficulties associated with expansion and building its business. Here are some specific ways outsourcing enables company growth.

1. Sharper Focus on Core Business (Do what you do best)

Business owners tend to assume they can do just about every task and head every department in their company. This can shift your focus away from developing your product and ensuring consistent growth within your first year. As your company expands, so does the amount of work needed to be done for back office operations such as finance, human resources, and IT. Outsourcing lets you leave these crucial operational tasks to the experts. At the same time, you can rely on them to deliver the work efficiently and quickly.

2. Lower Overhead Costs (Spend your money wisely)

Company expansion entails more tasks that involve even more people. Your current office may not have space or budget to accommodate HR, finance, and/or customer service staff. An established outsourcing company, however, has space and is likely to hire a dedicated team for each task. Outsourced labor for these operations save you thousands in overhead costs such as office space, utilities, training, and monthly salaries.

3. Minimize Distraction of Hiring and Managing Staff

At this point, your startup can’t afford high employee turnover rates. Adding a new HR or IT department may increase this likelihood. It will also add uncertainty to your current operations. An outsourcing company would take care of all aspects involved in back-end operations. From hiring, training, to maintaining employees, you won’t have to worry about the risk of additional staff.

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