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Conduct Business on the Go with the New VendorFind App

Mar 7, 2012

By: Arlette Measures

Access to high quality, low cost services can help move any business forward.

But finding such services can be challenging.

VendorFind, a new app by InsideUp, gives you a simple, cost-effective way to connect with the best business services for your needs.

The  app features all of InsideUp’s business service categories (30 in all),  including: Read More

Reduce Your Capital and Operating Costs by Outsourcing

Feb 7, 2014

By: Arlette Measures

The shift toward outsourcing continues as businesses seek ways to remain competitive despite streamlined budgets. According to the Journal of Accountancy, “Outsourcing is becoming popular even in small and midsize companies. Nowadays, a small business may not have staff members such as a human resources recruiter or a 401(k) specialist in- house…many of these functions are being handled by outsourcers.”

Here are a few ways outsourcing can save money for your company, according to the experts at AllBusiness.com:

Outsourcing human resource duties, for example, will save your company considerable expense by eliminating the need to hire and train HR personnel to perform duties such as benefits administration and payroll. Instead, your provider’s trained and experienced HR experts will be able to handle these duties expediently, resulting in substantial savings in terms of labor costs.

Outsourcing also releases capital for investment revenue-producing activities, which will in turn make your firm more attractive to investors.

In addition, outsourcing can save you the expense of hiring temporary employees for short-term projects, as well as the cost of paying benefits to in-house staff.  And it allows you to avoid large expenditures in the early stages of your business.

Companies that handle every function in-house have much greater research, development, marketing and distribution expenses, which are often passed on to customers.

Although cost savings remains the number-one reason most companies choose to outsource, there are additional benefits as well, such as:

Time savings – Outsourcing business functions such as IT and HR provides relief from the administrative tasks involved in employee-related responsibilities, allowing you time to focus on strategies that will create growth and sharpen your competitive edge.

Start new projects quickly – A good outsourcing firm will have the resources to take on your projects immediately. Handling the same project in-house might involve taking weeks or months to hire and train additional staff.

Focus on your core business – Business managers must set priorities in order to focus limited resources where they will do the most good. Outsourcing can help shift you company’s focus away from peripheral activities and toward serving customers better.

Level the playing field – Most small firms simply cannot compete with the in-house support services that larger companies can provide. With the help of outsourced providers, small firms can appear “big” and enjoy the same capabilities, efficiency and expertise of large companies.

Reduce risk – When an outsourcing provider handles your business operations, they also assume much of the risk inherent in those functions, removing some of the burden of compliance with government regulations and other considerations.

According to outsourcing expert Frank J. Casale, outsourcing “is the great equalizer for small to medium-sized firms. Growth-oriented entrepreneurs can benefit tremendously. Not only do employees frequently gain access to better benefits, the owner gains freedom to focus.”

Five Key Ways Offshoring Can Benefit Your Business

Jan 13, 2014

By: Arlette Measures

A major benefit that has come out of the new global economy is the increased availability of high quality, low cost resources through offshore outsourcing.

In fact, most Fortune 500 companies are now leveraging offshore resources, and a large percentage of small to medium businesses are following suit, as revealed in a study by Duke University’s Center for International Business Education and Research.

Of the companies surveyed, 73 percent said they turned to offshoring not only as a means to save costs, but also as a key component of their overall growth strategy. These companies value offshoring for the access it provides to highly skilled personnel and industry specific expertise.

Offshoring centers in countries such as India, China, Vietnam and the Philippines offer expertise in a diverse array of B2B services, including software development, call center services, human resources, and product research and development.  The benefits of offshoring, in addition to saving your company 30 to 50 percent on labor costs, include:

  1. Flexibility – Placing certain business operations in the skilled hands of offshore workers allows you to utilize your in-house resources where they are most suited, ensuring optimum productivity.
  2. Focus – Time is one of your company’s most precious resources, especially when it comes to management. One study found that most executives spend 80 percent of their time attending to details, and a mere 20 percent on the more vital aspects of business planning and customer relations. Offshoring can free up more of your time and allow you to place your focus where it needs to be.
  3. New Technologies – Your company can benefit from the latest technology that many offshore companies use, which might not have  been within your budget otherwise.
  4. Reduced Risk – Offshore companies use development and training centers to make continual improvements in terms of quality, efficiency and reliability. This greater level of expertise translates to high process maturity and reduced risk of project failure for your company.
  5. Time Zone Advantages – While sometimes listed among drawbacks of offshore outsourcing, the time zone difference has actually turned into a benefit as many offshore companies have begun to compensate by employing workers around the clock, giving you and your customers access to 24/7 service.