6 Ways Local Outsourcing Can Benefit Your Bottom Line
Think for a moment if there were an organization whose sole purpose was to help your company improve its bottom line. This ideal company has the infrastructure, equipment and workforce to handle your work expertly. It spends all of its waking hours coming up with new ways to help you reduce your costs, service your clients and increase your profits.
Sound like a dream? That dream can become a reality when you choose to partner with a local outsourcing company!
Traditionally, cost reduction has been a big reason why companies chose to outsource. While cutting costs is still critically important, smart business owners also outsource to streamline business functions, increase efficiency and improve focus””which all can lead to a healthier bottom line.
Let’s take a look at some of the top benefits business owners achieve with local outsourcing.
Improved business focus. There are often tasks that are important to the success of your business but are time-consuming and highly specialized. By turning over these to an outside source, you can fully attend to what you do best.
Better utilization of talent. Outsource companies offer an extensive knowledge base of a variety of functions that can do the work more quickly and with higher quality than shifted internal resources.
Streamlined operations. Outsourcing puts more control in your hands. You maximize the efficiency of your internal resources while effectively delegating extremely time-driven or specialized tasks to external resources.
Increased revenue streams. Many companies find that a sharper focus on sales and marketing functions rather than production and other non-revenue-making tasks leads to more profits.
New revenue streams. You can take advantage of new markets, emerging business opportunities and changing client needs very quickly and more cost-effectively when you opt to ” buy” the expertise rather than build it.
And yes, reduced costs! There are several ways outsourcing can save your company money, often, the biggest way is by reducing labor costs. Labor is typically one of the most substantial line items on a company’s balance sheet. In addition to less direct and indirect compensation, you eliminate additional costs such as social security, health care and workers’ compensation with outsourced workers.
Companies who outsource can also decrease their overhead costs like office space and supplies, production and storage facilities, utilities, equipment or maintenance.
Look for the benefits beyond cost
With the many savings associated with outsourcing, it’s no surprise that business owners chose this route. Before deciding which outsourcing vendor to go with, however, it’s essential to take some time to find the right one. Cost is not the only deciding factor.
Make sure the company you choose can meet your specific needs and provide the expertise you require. Check out their SLAs (service level agreements) and how they measure and maintain quality levels. View their facilities and speak to their references directly.
Lower your costs and outsource the right way with Goodwill
Outsourcing your kitting, assembly, packaging, fulfillment and business development work to Ohio Valley Goodwill Industrial Services offers advantages you don’t get with other resources including””
o A talented and flexible workforce able to work at any scale
o A versatile operation which can respond very quickly to changing needs
o An economical, non-profit partner with decades of experience
Contact Ohio Valley Goodwill Industrial Services for a quote on your next project!
