“Do one thing better than anyone. Ignore everything else.” – Peter Thiel
“Do what you do best and outsource the rest.” – Stephen Covey
Some of the best business minds of our era recognize the strategic importance of focusing on efforts and identifying critical partnerships to access subject matter expertise for non-core elements. Overextending your efforts dilutes your resources and can severely limit your business’s ability to thrive. Successful leaders learn to prioritize, adapt, and manage their commitments more effectively. Businesses are no different; they also end up in situations where they take on more than they can handle.
Whether due to rapid growth or desires to leverage new opportunities, resource constraints make your business unable to keep up with technology-enabled production, customer service, or other business aspects. There’s a strategic cure for overcoming limited subject expertise and knowledge resource constraints in a dynamic and highly competitive market.
To overcome this challenge, businesses form alliances with strategic partners to leverage expertise and resources, such as new technologies and skills, without needing to invest in building those resources internally. This helps to free up your company resources to focus on core competencies and strategic initiatives. To bring this to fruition, businesses rely on strategic outsourcing.
Outsourcing has evolved from a primary focus on being a cost-cutting measure and turned into a strategic tool essential for growth and success in an era of digital transformation. Tech-enabled tools are the growth engine that allows companies to focus on what they excel at doing best and partnering with external expertise is the most powerful way to get there quickly.
Why Outsource in Today’s World?
Macroeconomic changes, talent shortages, and evolving trends, including technological advancements, have businesses increasingly relying on outsourcing as a strategy. Outsourcing providers have also been impacted by such changes, with 59%1 of Global Business Services looking to automate their processes with technological advancements like cloud and AI. These tools encompass a wide range of technologies requiring deep expertise in areas where your business is unlikely to have the team to accomplish this. Outsourcing experts focused on working with small and medium-sized enterprises provide significant value and cultural fit. Outsourcing isn’t about reacting to change; it’s a proactive strategy that helps you access the expertise and flexibility needed to thrive in today’s dynamic business landscape.
Strategic Advantages Beyond Cost Savings
Outsourcing presents a strategic solution that can unlock many benefits as it provides access to specialized expertise currently unavailable on your team to tackle complex challenges. Most employers are struggling to find the talent that can fill the roles available on their team, with recent research indicating that 75% of US employers need help finding suitable talent2. Strategic outsourcing allows businesses access to talent, resources, and technologies to achieve significant cost optimization, freeing internal resources to focus on their core competencies. Companies with reliable outsourcing partnerships can quickly adjust to changing market demands. With experienced external partners, your business can unlock best practices that streamline your processes for improved efficiency, scalability, and exceptional customer service.
To underscore how an external partner well versed in Tech-related expertise can improve operational efficiency, resulting in significant cost savings, improved scalability, and exceptional customer service, we will demonstrate Premier’s collaborative approach and customized solutions to help the client transform their Help Desk Services.
Client: Managed Service Provider (MSP)
The Challenge
The client attempted to set up an internal IT and network support structure, but struggled due to high operational costs and limited scalability. A properly designed structure required issue resolution and escalation needing both Level 1 and 2 technicians as part of the multi-tiered system for the Help Desk Services.
The Solution
Premier thoroughly analyzed the client’s needs and existing workflows to identify opportunities to streamline processes and improve efficiency. The analysis helped create a co-sourcing solution that easily integrated with the client’s system through training and cultural sensitivity workshops to foster a cohesive team environment. A two-tiered support structure with Level 1 and 2 technicians for efficient resolution and escalation of issues helped to enhance communication. A dedicated Service Desk Coordinator (SDC) and QA Analyst were appointed to monitor performance and meet all targets.
The Results
The implemented solution addressed the problems of high operational costs and limited scalability by significantly reducing operational costs and providing the Help Desk with the capacity to handle increased call volume without sacrificing resolution speed. The CSAT surveys validated the improved customer service satisfaction measured through gold star ratings by easily exceeding the performance of the domestic team by a staggering five times.
What Operations Can You Outsource?
Businesses can leverage various expertise to help them focus on what is the key to their competitive advantage and help them consolidate their Unique Selling Proposition (USP). They can expand their capabilities with IT services encompassing everything from help desk support to software development and cloud migration. AI and Automation are becoming increasingly essential to gaining critical insights by leveraging data analytics to drive informed decisions and operational efficiency. Outsourcing of IT Services allows businesses the opportunity for scalability and resource optimization, besides helping to leverage expertise that facilitates meeting regulations related to security and compliance.
Businesses are constantly juggling resources to find the optimum allocation to their business processes and diverting resources from back-office operations, including Data Entry, Accounting, and HR Services. However, while cost optimization can improve profitability, it isn’t enough to compete successfully in today’s marketplace with constant technological innovations and digital transformations. The key to unlocking the door to success lies in finding the right strategic outsourcing partner to deliver both efficiency gains and advanced capabilities. Customers are looking for personalized support on various channels for which businesses strategically outsource Contact Center operations to those who can provide omnichannel experience encompassing multilingual support, live chat, and social media management. Your strategic outsourcing partners should ideally be at the forefront of technological advancements. Integrating the latest technologies in your business processes, such as AI, automation, and advanced analytics, your strategic outsourcing partner can transform contact centers into strategic assets that drive customer satisfaction and loyalty.
How to Identify the Right Approach to Outsourcing
Firstly, clearly define your goals: cost optimization, access to specialized expertise, or increased focus on core competencies. Evaluate your internal talent and upskilling potential to maximize resource utilization. Identify your unique strengths and outsource tasks outside those core areas. Analyze the ROI of each outsourced function to ensure a clear financial benefit.
Prioritize thorough partner vetting to guarantee high-quality deliverables that align with your standards. Implement clear and concise process documentation. Remember, outsource generic functions, not your core business activities. Seek partners whose mission, vision, and values align with yours for seamless collaboration. Finally, conduct a thorough analysis and plan based on defined strategic objectives to ensure your outsourcing initiatives yield optimal results.
The Case for Premier
Premier has, over two decades, ensured that our clients benefit from our award-winning approach, delivering customized solutions across various services, from contact centers and back-office operations to IT, marketing & sales. We differentiate ourselves through our Premier Sync framework, which offers co-sourcing solutions tailored to your specific challenges. We seamlessly integrate into your team, prioritizing cultural fit for efficient collaboration and brand consistency. Co-create the future with PremierTech Solutions. Premier is committed to pioneering innovative technology solutions that tackle customer pain points, elevate satisfaction, and drive operational efficiency. Our partnership is built for continuous improvement. We optimize processes, maximize value creation, and focus on outcomes that ensure you achieve cost savings and ROI.
Ready to Explore Outsourcing?
Are you ready to unlock the power of exceptional customer experiences through the power of Strategic Outsourcing? Contact us today to access the roadmap to your future success.
