Best 6 Proven ways for creating better strategic outsourcing partnership in 2020.
Outsourcing is the common practice of contracting out business functions and processes to third-party providers. The benefits of outsourcing can be substantial – from cost savings and efficiency gains to greater competitive advantage. Both well-established companies and startups reveal that outsourcing is beneficial for them.
On the other hand, loss of control over the vendor is often a potential business risk associated with outsourcing. You should carefully consider the advantages and disadvantages of outsourcing before deciding whether to contract out any activities or business operations.
In a recent survey conducted and found thatof respondents indicated that they’ve been challenged by communication issues with outsourcing providers. Here are six principles every outsourcing company executive can embrace to build better communication into their strategic outsourcing partnerships.
You company must not forget the value of face-to-face
The harvard business review writes, “creative capital is not just a collection of individuals’ ideas, but a product of interaction.” While modern methods of communication may make it seem like you can reach out and check in with your outsourcing partners whenever necessary, in reality, “as needed” meetings cause you to miss out on a rich source of innovation in the form of productive accidents.
Webenix personal experiences
01) Schedule meetings with your outsourcing partners regularly: daily meetings during transition and implementation; weekly meetings to focus on real-time monitoring, status updates, and immediate concerns; monthly meetings to oversee short-term tactical trends and changes; quarterly meetings to address big picture trends and forward-looking improvements; and yearly meetings to review and present a recap of innovative suggestions.
02) Use a formal meeting structure to facilitate the conversation, but also allow for unscheduled brainstorming and communication. You never know what can come up in regular meetings, and if they don't occur, you can miss out on unplanned opportunities.
Company must know that communication isn’t a one-way street
Clearly, part of building an effective, strategic partnership means staying in touch. But beyond maintaining an open line of communication and establishing frequent meetings on what’s happening from the partner’s perspective, it’s also important that you keep your outsourcing partner up-to-date on upcoming new products, features or changes to your business.
Since it can sometimes be difficult to include these changes in day-to-day business, it’s important to build a communication platform or schedule to share these updates separately to bring your outsourcing partner in on the process of building changes and updating training classes or documentation so agents aren’t caught off guard.
Your company must collaborate strategically
Before offering a Collaboration you must follow some basic tactics like Company’s employee, growth last year, company brand value, their offerings, content they provide & if the company capable of signing a NDA(Non-Disclosure Agreement) or not.
Tapping into Webenix insights the right approach to strategic outsourcing is, don’t outsource your projects to a vendor in the form of stand-alone projects. Instead, outsource strategic elements of your services to make the most of your partnership.
Invite your vendors to engage in a strategic partnership as peers and using the partner’s unique expertise to achieve your goals. This approach allows you to tap into your outsourced partner as a true partner rather than a task rabbit.
Your company must create room for trust
When Company A outsource a project to team members that are outside your immediate control, there’s a lot of pressure to ensure that the partnership brings the promised benefits such as enhanced customer service and improved quality, process improvements and less waste, flexibility, cost reduction, and risk mitigation.
This uncertainty can lead to a major urge to micromanage or become so involved that you disrupt the progress of the project and stymie creativity and innovation from the provider. Such prescriptive behavior may cause you to miss out on a better tool or process.
Don’t give in. Establish your expectations and document your process, and then step back and make room for trust. Assign tasks and deadlines, but give the outsourcing partner room to meet and exceed those expectations, thus building a more reliable relationship for the future and allowing your partner to bring experiences from multiple companies and multiple industries that will solve your problem in an innovative way.
Your company must allow for flexibility
An effective working partnership with an outsourcing provider requires balance. Once you establish the details of your outsourcing contract, understand that you’re working together not in opposition to create a win-win scenario. Sometimes this requires compromise on your part or on the part of your outsourcing partner.
Contracts and projects that don’t allow room for change leave little room for improvement. Build flexibility into your relationships in the form of accommodating one-off requests, expanding scope should business needs change, and encouraging innovation.
Webenix Personal Suggestions
01) Create special note of outsourcing partnerships that allow you to fulfil your needs these are relationships worth investing in and continuing.
02) The relationship you build with your outsourcing partner plays a crucial role in the success of your project and your company. However, good relationships don’t just happen. it takes a lot of efforts, patients & experience. Whether you are new to outsourcing or have an existing relationship follow these tips and you will be well on your way to building a profitable and long-term strategic partnership.
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