In an era of rapid digital transformation, the nature of the professional services industry is undergoing significant evolution. Clients have more extensive access to information than ever, an immediate need to expedite their shift into the digital realm, and an increasing number of business process outsourcing (BPO) service providers promising the advice they seek. And when regards to engaging consultants, clients are becoming more and more interested in paying for particular outcomes rather than by the hour.
Those BPO companies who do well will be the ones who provide sought-after expertise in niche areas and concentrate on building relationships with clients, adding value to their company over the long term rather than fostering an association that ends with the completion of a particular project.
As always, the strength of your professional services company lies in your talent pool. That’s your most valuable asset, delivering the expertise that clients are willing to invest in. However, in a tight labour market, you must be able to compete for the highest people, with expertise in looming areas growing in demand. Therefore, you need the resources to render the kind of conditions and remuneration that will help you both employ and sustain them.
That means investing the biggest part of your resources where you will see a significant return on that investment. In addition, other crucial aspects of your organisation that back up your core revenue implementation must be undertaken as cost-effectively and efficiently as possible.
Outsourcing services, especially to the Philippines, allow you to do just that, enabling you to outsource those tasks to professionals who can work on them efficiently and at a significantly minimised cost to you compared to venturing them using your in-house staff.
Need help deciding what to delegate? Don’t worry. In this blog, we will share with you the 10 professional services you can outsource for your business. But of course, we will also go over the necessary details related to professional services outsourcing.
Keep on reading!
What is Professional Services Outsourcing?
It is the process of hiring remote professionals from a BPO service provider to deliver a range of professional services or to manage multiple small tasks without outsourcing an entire function. Another term for professional outsourcing is body shopping.
When outsourcing professional services, you gain flexibility and control over the process. For example, you can choose the professionals who will work on your project and set deadlines for their completion.
Why is the professional services sector suited to outsourcing?
Fortunately for professional services businesses, it’s a sector that’s particularly well suited to outsourcing because of the following reasons:
- You can perform most of the work in the professional services sector through edge computing or by using cloud-based software, so the team’s on-site location is unnecessary.
- You can do much of the work at any time, which means it is open even after business hours, although a good BPO partner will give you access to staff who can attend to your hours if you wish to.
- Your outsourced professional services staff already work independently, communicating and collaborating from different locations. In most cases, it’s the preferred work arrangement. Having a team offshore will have little impact on your in-house team.
10 Types of Professional Services You Can Outsource
1) Accounting and Finance Services
Especially for small and medium enterprises (SMEs), this is the most recommended one. However, it will take time to acquire the ropes if you don’t have any expertise or experience in accounting. Alternatively, you can outsource your finance needs to remote professionals. This will enable you to devote focus to more pressing business issues.
Remember that your company will have to adhere to compliance standards related to bookkeeping. There are tax laws to meet, as well. They will accomplish these tasks with accuracy and efficiency in the hands of a highly competent and qualified accountant.
Furthermore, they will organise your ledgers for easy reference should you need to learn cash flow. So you’ll have conveniently absorbable financial reports that will guide your decisions on spending profit and capital best. More importantly, you can rest assured that your business is within the bounds of the law, finance-wise.
2) Administration
Automating repetitive administrative tasks such as sending scheduled emails is now possible in this day and age. First, however, you’ll need to devote capital to automation technology. If you’re operating a small business, that might be financially doable later. Your next best alternative is outsourcing administrative tasks to a remote virtual assistant from a BPO service provider.
An outsourced virtual assistant can accomplish a horde of to-dos on your behalf. For example, they can follow up on orders, schedule meetings, book accommodation and flights if you need to travel for leisure or business or help resolve customer conflict.
You can have a virtual assistant from the other side of the world, and they can render customer service while you’re asleep in your location—all while being paid by the hour.
3) Customer Support
The quality of customer service you offer directly affects sales. As such, one unhappy client can result in you losing various business transactions. Remember that people these days won’t mind sharing their thoughts about your product or service online. If those are not agreeable to the image you’re trying to project, your company will significantly suffer. Customer service is a demanding component of business management.
You can take that load off your shoulders by offshoring the job to a BPO company with a call centre or chat service provider function. Affordable labour is at your disposal. Consider employing customer support teams from countries like the Philippines. Ensure you clearly outline your favoured customer service strategy and specific expectations to your external partner.
4) Marketing
This is another business management system that needs specialised knowledge and skills. Even if you view yourself as creative, it’s not simple to market your brand and reach your target audience. This is where an outsourcing company can help. They can perform the job of selling your brand in the most controlled manner. This means you’ll get honest marketing advice. You can still actively participate in the process, as your outsourced marketing professionals will need your approval before going after a specific plan. Even the minor details correlated to promotional collateral design will require your explicit permission.
5) Sales
Sales management is critical to running a business because you can only reach your desired profit if you’re closing deals.
However, it also needs particular competencies, including an excellent gift of persuasion. Of course, you can commission a sales expert to institute training, do it on your own if you have a background in sales or train an in-house sales team. But regardless, it would be a time-consuming process, not to mention financially challenging.
Your best bet is to offshore to a team of BPO sales agents instead. They can develop sales funnels to boost your customer conversion or make calls on your behalf. Meanwhile, you can spend more time closing deals with investors who can help you expand your company operations.
6) Creatives
Do you need ad copy or blogs written? Do you need a logo design for your start-up alongside other branding requirements? That may not be enough reason to recruit a pool of internal creatives immediately. Instead, consider outsourcing that function to a remote graphic artist who can work for you or partner with a digital marketing firm offering you a spectrum of services. You can pay per project and select a candidate with favourable payment terms. Rest assured that you’ll get what you need without breaking the bank.
7) Human Resources (HR)
Maintaining an internal human resources department can cost you a lot. If you want to ensure that only top talents get to join your organisation, the first order of business is ensuring you have the best recruiters.
Fortunately, HR outsourcing provides you with a more affordable but efficient alternative. BPO HR firms take pride in obtaining a wide array of proficient recruiters. They also offer a full spectrum of HR services, from employing and training to benefits administration and payroll management. That’s a lot of stuff off of your plate.
8) Information Technology (IT) Support
IT commands a large part of the business process outsourcing sector, which is not surprising. However, information technology is an entirely different ballgame, and you can’t cut corners here, knowing all the security threats rampant in the digital realm.
Chances are, you already have a solid online presence. But if you haven’t yet, it’s high time you make your brand Google-search ready. Keep in mind that eCommerce is a hot topic right now—if you want to claim your fair share of the digital sales pie, you have to exist on multiple platforms, from online marketplaces to social media.
An expert IT support should integrate these efforts, which you can outsource. As a result, you get, among other things, a robust online security infrastructure created and sustained by people who know what they’re doing.
9) Research and Development
You need to conduct business research for different purposes—for example, marketing. As such, you’ll need thorough market research if you’re planning to grow the reach of your products and services. This process requires a particular skill set. So, why not offshore the job to people who regard market research as their bread and butter?
The same applies to business development. Whether you plan to expand to a new location or wish to introduce something new to your product mix, experts must examine the ins and outs of these opportunities.
While you want to be hands-on in these processes, you might need help managing them yourself. So instead, outsource the job and oversee its progress.
10) Shipping and Logistics
You must pay attention to shipping and logistics management. Doing so will compromise the reliability of your product delivery. That can result in poor customer satisfaction, which will, in turn, translate into low sales. That’s why you must collaborate with a shipping and logistics BPO provider that can safely transport your products from your storage or manufacturing facility to your customer’s doorstep.
Substandard management of your shipping and logistics can also compromise your inventory system. You might end up gaining products you couldn’t dispose of on schedule. You might even find yourself missing products that clients have already ordered. Either way, you could ruin the integrity of your company.
If you let an outsourcing firm handle these responsibilities on your behalf, you’ll attain peace of mind. On the other hand, if they don’t deliver as promised, replacements are a dime a dozen. And that’s why they won’t risk it in the first place.
Top Trends for Professional Services Outsourcing
Increased Demand for Quality and Cost-Effective Services
Businesses seek ways to reduce costs and improve efficiencies in today’s economy. Outsourcing provides a way to access quality talent and expertise at a fraction of the expense of hiring in-house staff.
A Shift From Traditional Project-Based Models to More Strategic Partnerships
In the past, many business relationships with outsourcing providers were based on short-term projects. Today, however, there is a trend towards more strategic alliances. This shift allows businesses to concentrate on their core competencies and outsourced providers to become more involved in the overall business strategy.
Growth of Cloud-Based Services
Cloud computing is revolutionising the way businesses access and use technology. As a result, outsourcing providers increasingly offer cloud-based services, which offer increased flexibility and scalability at a lower cost than traditional on-premise solutions.
Expansion Into New Geographies
As businesses expand into new markets, they often need outsourced providers to help them navigate the complexities of business in a new country. Outsourcing providers with a global footprint are well-positioned to provide this support.
Increased Focus on Quality
In today’s competitive environment, businesses cannot afford to sacrifice quality. As a result, outsourcing providers offering high-quality services at a lower cost are in demand.
Rising Labour Costs
In many countries, labour costs are on the rise. This makes outsourcing an increasingly attractive option for businesses looking to control costs.
Increased Regulation
In some industries, such as healthcare and banking, increased regulation drives businesses to outsource certain functions. As a result, outsourcing providers that can help companies to comply with regulations are in high demand.
Economic Uncertainty
In times of economic uncertainty, businesses often look to outsourcing to protect themselves from risks such as fluctuations in exchange rates.
Access to New Markets
Businesses are increasingly looking to outsource to gain access to new markets. Outsourcing providers with a global footprint are well-positioned to help enterprises to enter new markets.
Technology Advances
The ever-changing landscape of technology is making it difficult for businesses to keep up with the latest changes. As a result, outsourcing providers offering cutting-edge services are in high demand.
9 Common Mistakes to Avoid With Professional Services Outsourcing
- Not having a Clear Plan
- Setting high expectations
- Avoiding research
- Jumping in too quickly
- Going All In
- Not knowing what to outsource
- Hiring the cheapest external service providers
- Not clearly defining terms of a partnership
- Not embracing technology
Conclusion
The following listed are the 10 types of professional services you can outsource. Every company relies heavily on time. As a business owner, you don’t have the means for trial and error in your field. BPO professional service providers are always mindful of what they are doing, ensuring they deliver their services on time. You merely agree on how long the work will take before the project starts; that is exactly what they do. The quick delivery enables you to keep on with your commercial tasks without concentrating too much on the same item.
Collaborate with an excellent outsourcing marketplace, The Lead Enquiry, and be acquainted with our trusted BPO service provider partners equipped with top-notch specialists and state-of-the-art technology for your professional services needs. Contact us today.
