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.
- Outsource non-core and non-critical business processes
- Offshore time-consuming processes so that you can save on time & effort
- Outsource processes that do not fall in your area of expertise
- Outsource process when you want to save on operating costs
- Insource processes that you have expertise, skill and experience in
- Insource the work that you do best
- Insource your core business processes, so that you can exercise control
- Multi-source processes to the provider who has expertise and experience in that particular area
- Multi-source business processes to the right service provider and the right country
- Nearshore processes and work that require your constant attention
- Nearshore processes that outsourcing providers will not be able to do
- Nearshore processes when there is going to me more communication involved in the process
- Nearshore process when you do not want to deal with cultural differences
If you would like to add to this or object to this, please share your comments.