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Posted: July 21, 2014

Perks and benefits of outsourcing

Is it right for your business?

Ben Walker

Public sector job growth is prompting many businesses to turn to outsourcing as a viable alternative to increase workplace efficiency, convenience and savings. According to the Metro Denver Economic Development Corp., 2014 is expected to experience employment growth of 2.7 percent. Although many businesses will be growing their employee workforce, many are expanding their contract workforce through outsourcing.

Once relegated to big business, with the advance of technology and a progressively more mobilized workforce, small businesses are increasingly turning to outsourcing to save the business employee-related expenses, allowing decision-makers to invest those hiring funds in other areas of the business. Saving money is a huge factor, but other factors like internal staffing capabilities, expansions, and efficiency issues are also part of a business’ decision to outsource a job or project.  

Financial Benefit

Today, many outsourcing companies offer businesses highly specialized work or executive expertise without the price it would cost to have them on staff. For example, a business may not have the need or funds available for a full-time transcriptionist or CFO, but the business could benefit from working with an outsourced worker who specializes in those areas. It’s easier and more cost-effective to subcontract to an outsourced provider with those specific skill sets as opposed to hiring for those specific roles. It becomes much easier for businesses to pay-as-they-go for the specialized work they need, rather than put another employee on payroll.

Personnel Benefit

Subcontracting outsourced providers allows your employees to focus on doing what they were hired to do, versus performing time-consuming tasks and/or performing tasks they’re not familiar with. For example, it takes a non-trained person seven to 10 times longer to transcribe an audio file. Many of our clients don’t want or need to hire an individual to do time-consuming tasks like transcription, which is why outsourcing services are so beneficial from a personnel standpoint.

Connectivity Benefit

Today, technology allows connection with clients at a much quicker rate. Clients can use their smartphones when they want to record files and upload them directly. This allows our clients easy access to our work projects and gives them the peace of mind that content is also secure and confidential.

Outsourcing is a service that isn’t going away anytime soon, given rising employee costs and the aforementioned benefits. Businesses concerned about outsourcing might first assess their staff workload and satisfaction to determine if outsourcing is going to be a good and logical move for their operations.

Ben Walker is the president and owner of Transcription Outsourcing, LLC. Transcription Outsourcing, LLC provides transcription services for professionals in the legal, law enforcement, and medical industries among other general transcription services. Founded in 2010, the business provides fast turn-around, accurate transcripts with friendly service. Transcription Outsourcing understands the busy yet detail-oriented nature of your business and is dedicated to making sure your transcription project is delivered quickly, accurately, and to your organization’s specifications. For more information visit www.transcriptionoutsourcing.net.

Enjoy this article? Sign up to get ColoradoBiz Exclusives. The opinions expressed in this article are solely that of the author and do not represent ColoradoBiz magazine. Comments on articles will be removed if they include personal attacks.

Readers Respond

Good summary of outsourcing benefits so that a company may a) focus on what they do best, b) leverage the expertise and expediency of others and c) reap the financial and efficiency benefits. Outsourcing does not mean sending an American job overseas. More often it means supplimenting existing businesses with the right resources and efficiencies to grow effectively, adapt to changing markets, and serve their customers better. Finding the right sourcing solution can just as easily be local or global depending on the business need and objectives. By Michael Roy on 2014 07 21
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