Outsourcing Services

MAJOR TYPES OF OUTSOURCING
When the costs become the most concerned topic of business operations, outsourcing has become the most popular strategic choice. Because outsourcing can help enterprises save costs, let enterprises enjoy the most professional services and allow enterprises to save more time to focus on their core business strategies and developments. There are various categories of outsourcing, however, the most typical and the widely used types of outsourcing are BPO (Business Process Outsourcing), KPO (Knowledge Process Outsourcing) and TSO (Technology Services Outsourcing).
Business process outsourcing (BPO).
This involves operational functions like customer service, tax monitoring / collection, equipment, accounting, human resources (HR), logistics, procurement, security, documentations, insurance, health care, manufacturing, and media outsourcing. Specific tasks can be outsourced to a third-party firm, especially those outside the core competency of a company. This type of outsourcing can even be divided into two parts: front office tasks and back office tasks. Front office tasks are usually related to customer-oriented matters like marketing, customer service, and technical support. Back office usually deals with internal work like billing, payroll, and purchasing.
Knowledge process outsourcing (KPO)
This one involves advanced research, analytical, and technical skills, which means that providers are expected to work independently. In this type, specialists are given managerial control. Examples of this type of outsourcing include pharmaceutical research and development, intellectual property research, content writing, and database development services. It usually involves short-term and peripheral projects.
 
Technology service outsourcing (TSO)
Technological innovations are quickly enticing businesses and economic models to evolve. Companies have to adapt to those changes to thrive in a competitive market. Some of these technologies include electronic commerce, network infrastructures, applications, telecommunications, and website development. In-house employees may perform such functions but not as good or as quick as getting a third-party firm that specializes on the field and are more cost-effective.

Generally, outsourcing will allow your company to shift the completion of business activities from an internal operation to an external company; and in this case, Synergy Insight Limited. Companies will use outsourcing if they cannot complete a business function as well or as cheaply as another company. Most companies will attempt to outsource non-essential business tasks, saving the crucial business activities for their own employees; helping the bottom line.  

The current complexity of doing business and maintaining a company with high competitive standards, has led company leaders and executives to assume several responsibilities. Many of these include non-core process activities, such as operation staff, marketers, technicians, drivers, tellers, cashiers etc. When these procedures are performed internally by the corporations, they may be a distraction for executives, who therefore cannot be completely involved in strategic business issues.
 
There are different strategies companies employ to reduce cost and be competitively at an advantage. Some of which may include:
 
COST LEADERSHIP STRATEGY
The goal of cost leadership strategy is to produce products and services at the lowest cost in the industry, in other words to be the industry leader in low cost.
DIFFERENTIATION STRATEGY
The goal of differentiation Strategy is to provide products that are different and offer more/different features than the competitors.
INNOVATION STRATEGY
The goal of innovation strategy is to provide new and different products/services, added features, and new ways of producing the product.
OPERATIONAL EFFECTIVENESS STRATEGY
The goal of operational effectiveness strategy is to perform internal business activities better than the competition. This strategy attempts to increase quality, productivity, and employees and customer’s satisfaction with the company.
CUSTOMER ORIENTATION STRATEGY
The goal of customer-orientation strategy is to make the customers content. This strategy focuses on what the customer wants from the company and how to provide that. This strategy has been most effective with companies that have a one-to-one relationship with the customers.
Depending on which strategy is adopted, outsourcing can, and frequently does, provide both long- and short-term benefits to companies that outsource, provided they have a strategic objective for outsourcing. Medium and long-term gains are best realized by selecting a vendor who brings value to your core business and this is where Synergy Insight comes in due to the competitive advantages we have over our competitors. Such include: innovative technology; well trained staff / professionals; team spirit; highly motivated staff; timely services, and low cost of service including regular training organized for our outsourced staff.
 
Summarily put, outsourcing helps to achieve the following:
  1. Focus on the core business - Remove the distractions of handling employee matters, and other issues that are not very core to the business.
2.   Reduce risk of error - How many businesses can afford to hire the right talent to make certain that everything is done according to the law?
3.   Control expenses - When times are tough, having cost fixed is essential. In good times it means more profit to the bottom line.
4.   Reduce internal labour costs - Outsourcing allows the internal staff to focus on what makes the company money.
Outsourcing from Synergy Insight provides everything you need to have a peace of mind and more time to manage your business