Are you struggling to grow your business, and are limited by the high cost of hiring staff?
Have you considered alternative options? Outsourcing or Co-sourcing may be just what you need to scale your business cost effectively. But what do these terms mean, and which option is right for your business?
Many businesses have turned to more cost effective and sustainable solutions that enable them to grow by increasing efficiencies and reducing costs. In recent years this has predominately been via outsourcing.
What is outsourcing?
Outsourcing is when a company transfers certain tasks or services to outside suppliers rather than running it internally. This may be via a locally based company or by offshoring.
Offshoring is when businesses outsource labour to overseas companies as it’s considerably cheaper than hiring Australian staff.
Both local outsourcing and offshoring can enable businesses to gain efficiencies as they can leverage resources that they would otherwise not be able to afford.
Generally speaking when outsourcing in Australia you are seeking highly skilled resources for more complex or sensitive tasks that require strict quality controls or privacy. Offshoring tends to be suitable for basic and low risk tasks.
It’s important to ensure that there are strict policies and procedures in place when utilising outsourcing arrangements (especially offshoring) and an emphasis on ensuring that the work or services provided are to a high standard.
What are the disadvantages of outsourcing?
There are drawbacks to outsourcing, sometimes it lacks flexibility, the providers services are not tailored to the individual business and the customer often has to fit into the processes dictated by the provider and the outsourcing company does not have a deep understanding of your business needs and objectives.
But outsourcing is not the only option. The most recent concept is co-sourcing and this is the GreenStalk model.
What is co-sourcing?
Co-sourcing is based on developing a long-term relationship with a business partner. It emphasises traditional values of trust, excellent service and quality you’d normally associate with a partnership rather than a contracting arrangement.
We believe this is a better way to have a bigger impact on the businesses we support.
What are the benefits of co-sourcing?
There are a number of key benefits that co-sourcing provides over outsourcing. Firstly, it is a collaborative support model. We work in collaboration with the business owners understanding their businesses needs and objectives.
And as a result we look at the long-term interests of our clients and then focus on providing solutions that will be sustainable and provide the best outcome across all areas of the business.
What’s the difference between outsourcing versus co-sourcing?
Outsourcing is often transactional and the services are often provided remotely. With our co-sourcing solution you have access to experts across all areas of business administration working as part of your team, we work with your staff and integrate into your business.
We are a total business solution
All of us work together with you on achieving your business goals, the benefits of having a team with a wide range of skill sets all working together as opposed to you as the business owner coordinating the various outsourced services without truly understanding the impact that these functions have on one another is unique and powerful.
Our clients feel empowered to grow whilst saving time and money.
We invite you to do something great for your business and book a free initial consult today.
Author: Amy Ryan, CEO at GreenStalk
GreenStalk – Building better businesses together