The viability of outsourcing in the times ahead!
2020 will be re written time and again and history will be testimony to the fact that the last few months were like nothing that we have seen in our lifetime! No Budgets or Business Plans had factored COVID 19. Projections have been cast aside and the focus now is to survive this storm. Like any other part of the world, the UAE too will need to adapt to the challenges of the new Economic environment in the wake of the pandemic.
Given this situation, in 2021, businesses will need to curtail costs in a fiercely competitive market to ensure their survival in a post-pandemic scenario. This assumes more significance in view of the fact that costs of social distancing have impacted directly on key costs like Office space, Accommodation and Transportation. One of the critical costs which could be a game changer is the cost of Hiring staff. That is where ‘Outsourcing” as a business model becomes even more relevant in today’s context.
There is virtually no function or sphere that cannot be outsourced in today’s seamless world—from marketing to R&D. However, there are certain functions that lend themselves better to outsourcing, such as:
- Administrative tasks (including scheduling, travel arrangements, data entry, typing etc.)
- Lead generation and customer support
- Finance and accounting
- IT services
- HR services
The following advantages accrue directly for your business:
- Reducing and controlling operational costs
- Maximizing the usage of external resources – transfer risk and liabilities
- Business Continuity
- Freeing internal resources for other purposes
- Improving company focus to core activity rather than administrative activities
- Freeing cash to invest in core business activity
Most importantly you “Outsource your Worries” and have peace of mind knowing you have highly trained professionals at your disposal to facilitate your decision making through effective MIS, which would otherwise not be possible due to lack of competent internal resources
So, will Outsourcing survive in the years to come? The answer is definitely Yes. On our part, we at TABASCO shall be more than happy to contribute in “De Risking” your business and adapt to the new ‘Business as usual’ environment.