Grow Your Business By Focusing On Your Core Business
At In Time Tec, we recognize that outsourcing our non-core business tasks will get the job done faster and more proficiently. This is why we have chosen to outsource certain aspects of our business and be an outsource option for other companies to utilize.
For example, since our core business is technology development, we have chosen to outsource our Human Resource tasks to a company that focuses solely on HR. By doing so we have created more time to focus on our expertise, or core business, allowing us to be an outsource option for other companies that are in need of technology development.
With outsourcing being a major trend with a successful track record, it is important to discuss the true meaning and significance of this practice.
Distinguishing Going Offshore/Outsourcing
First, we must distinguish the difference between going offshore and outsourcing. Outsourcing, by definition, is obtaining goods or services from an outside supplier, especially in place of an internal source. Whereas going offshore means working with a business that is located or situated beyond one's national boundaries. Both of these practices have been going on for decades.
There are only two reasons why a business would go offshore: if they do not have the resources (human capital, systems, hardware) or they can’t afford it. If this is the case, they would look for that opportunity in other places around the world that have an abundant supply or are more cost effective.
On the other hand, outsourcing exists even at the government level. The government's core business is making sure people are safe and secure. They outsource just about everything else, including law enforcement and public education. For any human being or business, there are only 24 hours in a day. That being said, one must know where they can get the maximum bang for their buck. More specifically, they must know what core business they should focus on to achieve maximum results. It is important to know that outsourcing will get the task done just as well, if not better, than completing the task in house.
Outsourcing is an excellent approach that enables you to grow by focusing on your core business. A company that chooses not to utilize outsourcing for their non-core business is equivalent to a person that chooses not to save time and money.
Benefits of outsourcing include but are not limited to lower costs, flexibility, greater profit and increases in company productivity. Outsourcing gives businesses an opportunity to focus on their expertise and hand the other duties that they can not do in house off to others.
When You Should Outsource
To decide if you should outsource, you should begin by asking yourself if you know your core business. If the answer is yes, determine if you spend time on anything other than your core. If you do, look for a partner who can take care of the non-core work. This was the point in the process where we realized that we were spending time on HR that could be otherwise spent focusing on our expertise. This led us to our decision to outsource. If you do not know what your core business is, audit all aspects of your life and business and cut out the clutter- what remains is your core.
For our clients, we look at every client individually to determine what part of the process, if any, should be outsourced. For example, there are products that we develop but outsource for distribution, and there are products that we do not develop, but we distribute. All of these decisions are determined by what is in the best interest of each specific client.
As for companies that outsource to In Time Tec, we have both an onshore team and an offshore team. We are committed to working with clients to educate them about the various aspects of our offshore team as well as when to use them. We want to share our way of working in order for people to truly understand the benefits of outsourcing.
We have found outsourcing to be essential to the success of our company and we will continue to outsource to other companies as well as be an outsource for companies. We will always work with all of our clients individually to fit their needs accordingly. We highly recommend that every company does an audit of their work to see if their time could be better spent developing their expertise and increasing company productivity. If so, we suggest you turn your non-core work over to an outsource.
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