What Should You Look for In a Third Party Outsourcing Service?

1. What Should You Look for In a Third PartyOutsourcing Service? Back office outsourcing is always a good idea for companies to reduce costs but it is also vital to choose the right vendor who assures quality output. Managed Outsource Solutions 8596 E. 101st Street, Suite H Tulsa, OK 74133 www.managedoutsource.com (800) 670 2809

2. As the business starts growing, various activities also increase and the business starts looking for new opportunities to expand and gain competitive advantage. This is when businesses start considering back office outsourcing. Many companies outsource different activities to third party vendors as it is one of the best ways of improving efficiency and cutting costs in a company. Many third party vendors are now emerging in this field as remote work is becoming more feasible but choosing the right one is a concern. There are many challenges to consider before choosing a vendor to ensure that they will complete the tasks entrusted with utmost accuracy and also meet the deadline. A successful outsourcing experience not only means finding the best service provider or determining the right strategy. There are other factors involved that companies should be aware of before they make the decision to outsource. What are the important things to look for in a third party service provider? • Quality of output: When you need skilled labor at a reduced cost, you could turn to outsourcing. There are a number of processes that can be outsourced with excellent quality results. Go for a good service provider with a flawless reputation. • Communication capabilities: You should have excellent communication possibilities with your vendor and stay updated on any changes going on. • Business expectations: Proper implementation of an outsourcing strategy would take time. Consider whether the outsourcing team can help meet your business expectations, and ensure that you maintain reasonable and right expectations. • Infrastructure: Think of how their existing infrastructure relates to your business operations. You must be aware of their Internet Service Provider’s capacities and connectivity. And, here are some things that you should keep in mind when outsourcing. • Where to start and how to start: To remain consistent, many companies outsource diverse processes. It is important to start with small key functions like minor administrative work that requires expensive skill set when in the hands of a full timer. Find out potential quick wins in which you can achieve most ROI with comparatively small efforts or expense. Look for ways that will help you save money and achieve quality outcomes. www.managedoutsource.com (800) 670 2809

3. • How to measure your work and how many additional resources are required: Organizations try to align their staff with their workloads that tend to fluctuate. Companies usually need more number of employees from May to March but by April companies may not be able to afford extra employees all throughout the year. So in such situations companies can outsource their activities to an external vendor. This decreases cost while increasing efficiency. • Know your risk tolerance: Companies always try to keep their intellectual property protected. Compromising the security of your IP can cost an organisation major profits and opportunities. Some companies outsource their activities except their crucial sensitive applications to ensure data protection and avoid any chances of risk. Knowing and understanding risk acceptance allows you to strategically choose which tasks to be outsourced. • How to measure success: To measure success you must identify workflows, metrics, and processes for auditing them and all the workflow and processes should be documented and the audits should be regular and consistent. Make sure to keep regular contact with the service provider to get the results that you desire. • Integrating both external team and in-house team: It is important to integrate your service provider and treat them as a part of your company. Encourage conversations between your provider and your employees whose day- to-day work might be affected by their output and include third-party tasks and conversations into your workflows, and regularly take stock of their outcomes. All these measures will help your employees as well as service provider to interact and thereby improve the likelihood of success. Back office outsourcing is always a good idea for companies to reduce costs but it is also important to choose the right vendor who assures quality output which is the highest priority for almost all companies and the success of outsourcing services depends on picking the right vendor. www.managedoutsource.com (800) 670 2809