Businesses across all sectors are facing increasing threats from globalisation. In order to stay competitive and profitable, new ways have to be found to cut costs and improve efficiencies.
A study by the Centre for Economics and Business Research (CEBR) found that the share prices of FTSE businesses that outsource parts of their business typically outperform their sector average.
Practically any business process that has to be done but does not directly add value to the business can be outsourced.
Proven benefits can flow from the movement of back-office administration tasks, such as payroll or the running of the firm’s childcare scheme, to a specialist provider.
Moving these types of non-core activity to a specialist means that valuable management time is freed up to concentrate on core service delivery, actively improving your customers' experience.
Organisations that do enjoy the benefits that can be gained from outsourcing are likely to have stuck to the top three golden rules:
- Look for a business partner, not just a provider
- Set and agree clear goals, objectives and expectations
- Develop and build a business relationship based on mutual trust rather than just a contract
RSM Tenon is dedicated to helping organisations of all sizes embrace outsourcing and maximise the benefits from it. This also includes the public sector, whose Modernising Government Fund and Efficient Government Fund are both helping departments develop outsourced or shared service agreements.