The term outsourcing refers to the contracting out of a business process to an external provider. This is often referred to as Business Process Outsourcing or BPO. When businesses outsource to suppliers outside of their own country, it is often referred to as offshoring, or offshore outsourcing. Virtually any conceivable business practice can be outsourced for any number of reasons.
Offshore outsourcing is a $76 billion dollar per year industry worldwide. While outsourcing growth for large companies has begun to level off, outsourcing by small to medium sized businesses continues to grow dramatically due to technology advancements such as VOIP, which have brought down costs; as well as increased understanding of the benefits outsourcing offers to organizations of any size.
5 Ways to Outsource
- Staff Leasing
- Function Outsourcing
- Project / Managed Solutions
- Captive Services & Managed Entities
- Small Business Packs
Under our Staff Leasing model, you engage us to hire staff to work with you as if they were in your home office. We recruit the staff on your behalf and to your specs and you have the final say on all hires. At Sourcefit there is no obligation until you’ve found staff that perfectly fit your needs. The staff work from our offices in Manila and we provide all infrastructure and HR support for one low fee. You have the option of managing your staff directly or having us provide project management for you.
The Function Outsourcing model allows you to break off a particular task and assign it to us, similar to what many companies have been doing with payroll for years. This model works best for compartmentalized responsibilities that can be grouped individually and require little collaboration with other internal functions. Popular functions to outsource are support related, such as help desk support, desk side services and server maintenance. For example, employee-based service requests are dispatched to the outsourced team to handle the problem, freeing your internal IT staff to focus on more critical company issues. Billing for this model is normally output or time based. Savings are generally realized because the task is completed more efficiently; service level agreements can be assured; in-house staff and supervisors are freed to focus on core responsibilities; and the soft costs such as retention/hiring and benefits that you’d need to pay a full-time employee are eliminated.
Any engagement that has a defined deliverable and a set start and end point is a project that can be assigned to us. Such a project may encompass skill sets your department may be lacking, or that you simply don’t have the manpower to accomplish while still handling core responsibilities. A good example is a standard desktop upgrade; completing the task creates a temporary spike in demand for your IT department, but hiring additional full-time staff doesn’t make fiscal sense. Implementing the Project Outsourcing model gets the job done quickly and eliminates any ongoing costs you’d incur if you had to hire additional full time staff. Other examples might be websites, customer service for seasonal promotions or campaigns, or application development.
Under this system you will create your own corporate entity in Philippines — or a joint venture — and we will guide you through the process of incorporation and also manage all (or selected) aspects of your set-up and operations. Our flexible approach allows you to create a strategy that perfectly suits your corporate requirements.
Sourcefit has created a new program for smaller businesses that don’t require a full-time staffer in any one specialization, but rather need a suite of services on an on-going basis, such as online marketing, graphic design, and data entry. Small Business Packs are customizable service packages that deliver an entire team of specialists for one low monthly fee. With Small Business Packs, small business owners can now have a dedicated staff of highly trained professionals working to grow their business for a price that fits within any budget. Each of your team members will be assigned to your account on a continuing basis so they get to know you and your business. Our aim is for you to feel they are a seamless extension of your home office.