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Now is the best time to offshore your functions.
The past 18 months have taught many business lessons, particularly on the way we run a business. It has accelerated globalization for decades, forcing companies to adapt to a more digitized world. As a result, offshoring is here to stay.
Offshoring, also known as offshore outsourcing, refers to the delegation of services to a country from a different region. Usually, businesses in the US and the UK either delegate one-off projects or an entire department to countries miles away from them.
Most people use outsourcing and offshoring interchangeably. While offshoring can be called outsourcing at some point, outsourcing is not always done offshore. This is since the latter is an umbrella term for delegating services, whether locally, in a nearby country (nearshoring), or offshore.
You can try offshoring your services to a destination that specializes in certain functions. Some of these destinations include:
Indeed, offshoring can provide you with more advantages than simply cost-cutting. Here are some key benefits that you can get by hiring offshore staffing:
Related: What You Should Know Before You Offshore Your Startup’s Engineering Team
Despite the huge advantages, businesses can still face several challenges in offshoring their services, especially in countries with rising popularity. However, they can still work around the following disadvantages when needed.
First, language compatibility can still be a hindrance for companies offshoring in countries like Vietnam and Malaysia. Having average proficiency rankings, these countries are finding ways to improve English proficiency, especially in the workplace. Clients also face issues in cultural compatibility when working with a team.
Lastly, concerns on data security and compliance still arise. Since clients are located miles away from their teams, they have less control over their operations, further exposing them to data breaches and intellectual property concerns.
Related: Is Offshoring Really the Best Option?
While offshoring your functions can be easy, it requires thorough planning to get this right and avoid experiencing disadvantages. Here are some ways you can get offshoring right:
Now is always the best time to offshore your functions. Once you’ve started planning and analyzing the costs you can save in the long run, you only have to book a consultation with your service provider to get started.
Offshoring companies are there to guide you with your needs and requirements when delegating your services. With their years of experience in the industry, you can assure that you can get the best out of your team.
Related: How to Choose the Right Offshoring Partner
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