Outsourcing is a method of reducing costs by contracting the work to be done outside of your organization. It transfers functions from the company itself to a third party service provider.

It is not new, it has been around for decades but only recently in the last 2 years has outsourcing exploded due to low-cost labour force availability, infrastructure and proximity. It's estimated that outsourcing could save corporations $100 billion annually. That gives you an idea of where this trend is headed.

There are several methods of outsourcing, each one with its own advantages and disadvantages. 

The most common methods include offshoring (relocating the activity to another country), insourcing (hiring an outside provider that specializes in a certain field) or business process outsourcing (BPO). 

Although mentioned less often, there is also near-shoring which means locating your outsourcing project within close proximity such as in Canada or Mexico where labour costs are lower than in India or other Asian countries.

In this article, we’re going to talk about the 6 advantages of Outsourcing, especially this 2021.

And for good reason: Outsourcing saves money! The cost of offshoring can be up to 60% less than hiring an employee in your own country. It allows you to focus your efforts on core competencies and increase your profits rapidly. 

You're not taking time out of your busy schedule to train someone how to do a job that they may or may not be qualified for because you're depending on professional outsourcers who have done this kind of work thousands of times.

Take the Philippines as an example. Outsourcing to the Philippines, as well as offshoring in general, has been criticized for being an expensive option. However, outsourcing done correctly gives businesses a greater return on their investment than they would through in-house staffing.

Outsourcing to the Philippines, as well as offshoring in general, has been criticized for being an expensive option. However, outsourcing done correctly gives businesses a greater return on their investment than they would through in-house staffing.

Outsourcing isn't just for call centres and IT help desks anymore -- it's now being used by physicians, lawyers, teachers, researchers, you name it. In fact, of the companies that outsource employees' work globally (this includes software engineers, doctors, tech support specialists, and any other type of white-collar worker), nearly a third said they're planning to do so more this year than last.

But the trend isn't limited to big businesses -- even small firms are outsourcing their work. While it's true that outsourcing work overseas can cut payroll costs by up to 20 per cent (they are paying workers less money for the same jobs), sometimes offshoring your job is actually better for your company.

Outsourcing is the process of outsourcing a part or all of one's processes to an outside source. Whether it be a manufacturing plant, call centre or business development services, outsourcing can help one's business grow and prosper. It allows businesses to concentrate on their core competencies while offloading the ones that they are not specialized in.

When you're an entrepreneur, it's even more important that you don't waste any time. Every minute spent doing non-essential tasks is one less minute spent growing your business or making sales calls.

When you outsource payroll and HR processes to another country, like the Philippines from their vast variety of BPO companies, it means that another company deals with all these tasks for you.

instead of hours every week, you only have to send payroll files once a month. Instead of days every year spent filling out ACA forms and updating employee records for health benefit providers...you get the idea.

Yes, outsourcing can be profitable for both you and the workers who will do the outsourced work for you.

If your business requires that you spend most or all of your time on internal matters, then it probably makes sense to outsource at least some of those tasks to an outside firm or individual so that you can focus on what really matters--the direction of your business itself.

Outsourcing is one of those things that you just can't lose. After reading this article, outsourcing will be your best friend when it comes to making sure you are profitable and meeting all of your deadlines.

You just need one thing; a computer with an internet connection and a willingness to learn something new. Anyone can get started doing business online because there's no special license required like in other businesses. 

The only requirement is that you teach yourself everything you need to know through books and online courses.