In the past, outsourcing gave companies a competitive advantage. But now that so many businesses do it, that advantage has eroded.
So now companies have to think creatively to get the most out of their outsourcing operations. This helpful article from CRMbuyer.com breaks down how businesses are now evaluating if and where there are opportunities to leverage outsourcers' capabilities, intellectual property, and global infrastructure. In addition to reaping the financial savings from this, many companies are now getting non-financial benefits like these:
"Faster time-to-market — Global partners often have business process or quality expertise to improve the product development process. Companies are achieving time-to-market savings of 25 percent to 50 percent, dramatically improving a company's market position.
Ancillary/additional revenue streams — Companies are teaming with global partners to develop products specific to new markets. Rather than invest time and effort to create a product for profitable but lower value markets, some companies are outsourcing the development or support for these lower-value markets.
Process improvement — For a large U.S.-based mortgage processor, Infosys re-engineered the entire loan servicing process. The number of transactions processed each day doubled, and there was a 70 percent improvement in rate confirmation turnaround."
So now companies have to think creatively to get the most out of their outsourcing operations. This helpful article from CRMbuyer.com breaks down how businesses are now evaluating if and where there are opportunities to leverage outsourcers' capabilities, intellectual property, and global infrastructure. In addition to reaping the financial savings from this, many companies are now getting non-financial benefits like these:
"Faster time-to-market — Global partners often have business process or quality expertise to improve the product development process. Companies are achieving time-to-market savings of 25 percent to 50 percent, dramatically improving a company's market position.
Ancillary/additional revenue streams — Companies are teaming with global partners to develop products specific to new markets. Rather than invest time and effort to create a product for profitable but lower value markets, some companies are outsourcing the development or support for these lower-value markets.
Process improvement — For a large U.S.-based mortgage processor, Infosys re-engineered the entire loan servicing process. The number of transactions processed each day doubled, and there was a 70 percent improvement in rate confirmation turnaround."