Outsourcing during COVID-19

Outsourcing during COVID-19

To thrive and survive during the COVID pandemic businesses have needed to adapt and innovate quickly. That has meant new thinking, new capabilities, new skills as well as new technology. To meet these challenges a number of businesses have turned to outsourcing as part of their COVID-19 survival strategy.

COVID has impacted every industry and organisation. It has accelerated the pace of digital transformation, as everything from court hearings, group exercise, medical treatment to social gatherings are occurring online. Just as importantly, there’s a population willing to embrace digital delivery channels far more readily than ever before.

Every business has been forced to revise budgets and operational procedures in order to manage the effects of the pandemic. Some industries, such as hospitality, entertainment and travel have been forced to virtually shut down. Competition for most businesses is still fierce, particularly in an environment where the economy is sluggish, unemployment is high and consumer spending is down.

Working with an experienced outsourcing provider has helped organisations cope with these challenges. By ramping up digital capabilities and quickly adding resources that are lacking in-house, businesses have used outsourcing to drive greater efficiency, more productivity and lower costs.

From IT to accounting to digital marketing, outsourcing offers a range of innovative solutions to assist your business during and post COVID 19.

Reduce Costs

COVID-19 has had a significant financial impact on a range of organisations and industries. For some cutting costs has been a question of survival during the pandemic. Businesses must find areas to reduce costs so more resources can be spent on revenue generating activities.

One of the main benefits of outsourcing is its ability to cut costs. Instead of employing full time staff to perform certain tasks, the outsourcing partner has access to skills, processes and technology that allows them to perform certain functions better and cheaper.

Remote working

For quite a number of workplaces remote working arrangements, in one form or another, are likely to be in place for the foreseeable future. In some instances, they may become permanent. But not all jobs can be adapted to working remotely. Many companies and their employees have found it difficult to adjust to remote working or working from home.

Outsourcing providers are accustomed to remote work. They often have to serve clients in different areas and even parts of the world. They have processes, security and systems in place to establish communications and complete projects outside the office.

Business agility and resilience

To develop greater business agility and resilience, companies across the globe are looking at outsourcing to reduce the risks associated with COVID 19. According to research from Opinium and LiveArea 28% of businesses are looking at outsourcing as a COVID-19 survival strategy.
COVID-19 has clearly highlighted the need for companies to be able to scale and adapt quickly. This means being able to understand market changes and respond rapidly and effectively.

Organisations often lack the time and means they need to improve the way they operate. Their resources are consumed on keeping the lights on and maintaining day-to-day operations. There’s little left over capacity to make the changes that need to be made. They’re essentially stuck in the way they operate and are poorly equipped to cope with change.

Outsourcing can provide businesses with the flexibility they need to grow and thrive. The extra capacity and resources allow key staff to concentrate on high-level change and transformation projects. The outsourcing provider can also provide advice, expertise and assistance in making the necessary transformations.

Access to the latest technology and automation tools

A critical component to an organisation’s ability to adapt is the technology that underpins its operations. The use of technology and automation is expected to grow exponentially and disruptively in the years after COVID-19. Trying to keep up by investing in the latest technology is expensive, prohibitively so for some companies.

Outsourcing can give companies access to the latest available technology without having to buy it or lease it. They also do not need to hire the highly skilled staff required to install and maintain it.

COVID-19 has reinforced the fact that businesses today face a rapidly evolving landscape of regulatory changes, advances in technology and changing consumer behaviour. These challenges are motivating businesses to rethink the appropriate mix of in-house vs external resources to efficiently manage their operations

The Covid-19 crisis has affected almost all sectors of industry worldwide due to disrupted supply chains, nationwide lockdowns and the sudden confrontation of companies with long-term or even permanent remote work. Outsourcing is a suitable means to get out of the current crisis quickly and ensure competitiveness. Be advised demand for outsourcing is expected to increase.

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