With “rightshoring” being the latest buzzword in the global outsourcing market, you might be wondering if rightshoring is right for your business. You might already be into offshoring and some of you might be into nearshoring. Your business competitors might be into rightshoring and you might be worried if you too should step into rightshoring. So what is rightshoring?
Rightshoring is a mixture of offshoring, outsourcing, nearshoring, two-shoring, global sourcing, insourcing and multi-sourcing. The right balance of offshoring, outsourcing, nearshoring, two-shoring, global sourcing, insourcing and multi-sourcing can give your business a competitive advantage.
The most puzzling questions that organizations face is What to outsource? Which processes to Insource? Which work to nearshore? And how to effectively multi-source? If you are thinking along these lines, then read the following guidelines before starting to rightsource.
Do you often wonder if outsourcing is the right way to grow your business? In today’s business world the buzz word is “outsourcing”. There a countless books, articles, speeches, blogs and webinars on the subject of outsourcing. All this information can help you decide if outsourcing is good for your business, but it is the understanding of the pros and cons of outsourcing that can help your organization make an informed decision. The following is a list of the pros and cons of outsourcing:
The Pros of Outsourcing
Your organization can become more flexible to change with outsourcing
Outsourcing can give you increased control over your business
Experience a freeing up of your cash flow with outsourcing
In outsourcing, you can share your business risks
Outsourcing can free you from management problems
Offshoring can help you benefit from professional and expert services
Outsourcing can help you save more than half of your operating costs
By outsourcing, you can be assured that your processes are being carried out efficiently within a fast turnaround time
Outsourcing can help your organization save on manpower, training costs, time, effort and operating costs
Save on investing in the latest software, technologies and infrastructure
You can meet the new and difficult requirements of your customers with outsourcing
Increased productivity, efficiency and profits are some of the other benefits of outsourcing
With outsourcing, you can productivity and efficiency even in your non-core business processes
You can save on capital expenditures by offshoring
By offshoring, you can spend more time concentrating on your core business processes
Is your organization falling back due to increased competition? Is your organization coming down on the ladder of success? Are you suffering from reduced productivity and increased expenses? Are you worried about competing in the flat world? If your answer is yes to the following questions, global outsourcing could be the answer that can solve all your problems. In today’s world an organization cannot survive by only adopting offshoring, outsourcing or insourcing. Adopting only one entity cannot help your organization to gain a competitive edge in the global playing field.
So what must organizations do to remain productive and competitive? The answer to this question is “global outsourcing” Global outsourcing can be defined as a blend of onsite, offshore and nearshore outsourcing solutions in order to achieve strategic business solutions. So how can your organization adopt the global organization model? Organize a meeting with your employees and discuss which business processes can be done offshore, which can be done through nearshoring and which processes need not be outsourced. After deciding on this, your organization can adopt the global outsourcing model.
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