outsourcing operations to Virtual Assistant

Outsource to Counteract Competitors and Reduce Cost

Modern organizations today, with its manifold of responsibilities all around, find it difficult to perpetuate the functions. Outsourcing operations thus provide much relief in this province. With its proven flow of benefits like - reduced costs, staff structure reorganization, augmenting working capital, improved quality of products and services and reduced business risk, eliminating conflicts with the workers and decreasing superfluous operations.Virtual assistance has gradually become the apple of businessmen’s’ eye, despite the fact that it entails third party interference in their business undertaking. Now, the core mechanisms that determine the level of outsourcing competency lies in the hands of the smart project management office. Operations management project teams are experts in project initiation and project execution. No matter what task you are recruiting them, an experienced team of technicians can set the archetype of seamless business interaction and business implementation, as compared to your in-house employees. Below mentioned are some of the key regions that you must be invigilating out while outsourcing business operations.

WHAT IS OUTSOURCING BUSINESS?

When a company or an organization ‘outsource’ an operation that means it has deployed certain external hands in their project. The task can be assigned to either an individual or a team. Outsourcing operations refers to the execution of work by expert management instead of an in-office worker. This business practice has seen a drastic evolution over a decade with coordination from some of the dynamic virtual assistance companies in the USA. 

We at Virtuallytics, provide quality outsourcing services to our clients through –

  • industry experienced experts
  • seamless interaction with our clients
  • multiple communication channels
  • on-time project delivery
  • ensure quality control checks

Outsourcing operations involves subcontracting parts of a company's value-chain, (i.e.  Steps in the design, supply, production, marketing, sales, and services processes) to other companies or contractors that specialize in those activities. Through outsourcing agreements, the client company hires separate companies to perform specific tasks in the value-chain on its behalf.  Often, the work is performed under the name of the client.  Suppose a shoe-making company, is incapable of devising an effective branding strategy for launching a new product in the market. So it hires an outside company to build the branding plan on their behalf for their target market. This is an example of outsourcing operations.

The kinds of outsourcing work performed vary widely across industry sectors.  Some common outsourcing activities include-

  • human resource management
  • facilities management
  • supply chain management
  • accounting, customer support and service
  • marketing, computer-aided design, research
  • design, refurbishing & developing
  • content writing
  • legal documentation
  • business administrative work – meeting scheduling, official appointments, attendance records, etc
  • technological work – data appending, email appending, start-up technical planning, stock –financial analysis to name a few

As you can see, you can outsource just about anything these days. From sales to HR, IT to manufacturing, everything under the sun has a way to be outsourced. Outsourcing should be viewed as a tool. You think about this option when you need it. Ask yourself: will it save you time? Will it save you money? The two most important factors for a business to run successfully. By cutting costs and allowing staff members to focus on work that will be more impactful for them.

WHY OUTSOURCE BUSINESS FUNCTIONS?

  • lowering costs
  • improving the efficient allocation of resources within a company
  • redirect its attention to its own competencies
  • reducing the workload on your in- house staff
  • charging up their working efficiencies
  • counteract slow production rate

However, outsourcing requires a high degree of standardization and management control in order to be effective. When a company is having a limited amount of workers and machines, and it is going through slow production on some of its existing products, they could either hire more people or they could pay to another company to do the work for them, depending on the product and the cost of labor. Companies closing the entire divisions and moving operations abroad is very common with the customer support systems. That is why Outsourcing is all the rage right now. There has never been a better time to outsource work to other agencies in order to save money and/or time on projects that will give your business a boost. You need to have a detailed knowledge of the current scenario of your company to consider what things you may want to have performed outside your company.

TOP VIRTUAL ASSISTANCE COMPANIES

To go deeper into the world of virtual assistance, let us go through the key players who are winning it over.

  1. Virtuallytics
  2. MyOutDesk
  3. Worldwide 101
  4. Premier Veba
  5. My Tasker
  6. GetFriday
  7. Outsource Workers
  8. Elite VA
  9. Bizee.co
  10. TimeDoctor

THE BENEFITS OF OUTSOURCING

  1. Better quality of work assured – naturally when you are dividing the work in-hand, the pressure is less. This works as a catalyst for the execution. Outsourcing operations to a management project ensures that your task is now in the hands of experienced ones. So you really need not worry about the quality of it. You never know which individual is best suited for a particular job, but we know that! We have trained & recruited employees on the basis of their certain specializations.
  2. Improved return on investment (ROI) -A mainstay of outsourcing is its ability to reduce the investment in plant and equipment needed to produce a product, which must be booked as an asset. If you can retain the bulk of the profits for the product and not lose too much to supplier markups, then your return on investment should increase.
  3. Lower costs – like we have already mentioned above, outsourcing operations reduces a company’s overhead expenses to a great extent. This also has a reinforcing effect. If a number of companies outsource to a common low-cost supplier, then that supplier can obtain economies of scale from specialization. Sometimes, it just doesn’t make financial sense for a company to set up facilities and hire employees to produce an item that another company is already making efficiently.

    For example, labor costs in India are lower than in Western nations, so many firms hire Indian companies to perform labour-intensive, low-skill activities.

  4. A transfer of fixed cost to variable cost- If you produce a product or component yourself, you incur a number of investment costs that you need to recoup before you can make a profit. If a supplier provides the part, you may be able to purchase it on a per-unit basis before repackaging and selling it. This transforms the fixed cost you incur into a variable cost.

    The upshot is that the number of product units you have to sell before you make a profit drops. Even if the product doesn’t sell well, you’re still likely to make a profit when you outsource.

  5. Faster project completion- due to the fact that external knowledgeable and fluent efforts are toiling their way in your project, the chances are high for faster project completion.
  6. High level of expertise – absolutely! Only experts are assigned to a client, which makes the working process much easier and faster for both the parties. In reality, an operations management project functions for this purpose only! So as to keep a check over the quality- delivery of your work.
  7. Flexibility- seamless interaction between you and your project assistant makes the work much more flexible. A professional project management team works hand in hand, implementing the best tools needed; it is a time-efficient process which in turn enhances the flexibility of the working- system.
  8. Improved networking sources- collaborating with different agencies, be it in the USA or any place around the world, means you are in turn improving your oversees networking; indirectly building the brand identity and augmenting the brand awareness.

CONCLUSION

Truly, we can now conclude that brands know their way out to alleviate the drawbacks in their business strategy. As the outsourcing operations identify and regenerate the internal pinpoints in their business administration, people now have the answers to questions like - when to consider outsourcing? What are the types of outsourcing and the benefits of outsourcing operations?  At Virtuallytics, we serve our clients adhering to their requirements. Grab your appointment today by contacting at info@virtuallytics.com

(1)

LM

Nice