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Why Australian businesses should look to offshoring as a way to boost innovation

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We currently work in a business environment where our ability to compete will depend on our ability to innovate. In this age of connectivity, there is now a huge amount of knowledge that can be shared and accessed at any time, making speed of innovation the strongest source of sustainable advantage for a company.

However, constant innovation requires company resources – it needs focus, time, manpower and of course, financial resources. Business leaders are continually looking at new ways of reducing costs while still maintaining high productivity.

Business Process Outsourcing (BPO) is one approach Australian companies can take to assist in freeing up fiscal and human capital. At a minimum, businesses can save up to 60 per cent on current contact centre costs, which can then be reinvested back into the core business and enable a shift towards high value tasks.

Why outsource?

This approach gives Australian companies the opportunity to invest into what will give them a true competitive advantage, rather than just straight business processes.

While there is a perception that offshoring can negatively impact a business’s brand and operations, many Australian companies have reported an increase in service standards after successfully offshoring their customer service centre, with NPS scores proving a key barometer of clients’ success.

This has been achieved by having a high calibre of staff who are dedicated to this field and ensure calls and contacts are responded to immediately, while also minimising time on the phone for customers.

BPO gives Australian businesses the freedom to grow a sustainable and scalable organisation which can achieve its business objectives whilst leveraging a cost base that other global organisations enjoy. In this day and age, there are some roles which are already recognised as jobs that will be outsourced.

These include customer service, software, app and web development, and accounts payable/receivable. However there are also a variety of other positions where we are likely to see a shift towards outsourcing.

Is offshoring the future?

Over the next five years, we will see engineering design, for example, infrastructure and product development, full management accounting, data science/analytics and even various types of marketing services, including digital marketing, social engagement and creative services outsourced.

Any roles which are formulaic or are heavily processed driven are easiest to offshore; however, any role that doesn’t need personable contact can be. By freeing up valuable staff and financial resources, you have the ability to tightly focus your company on the products and services which your company is best at producing.

One of the best ways to future-proof your company is to consider BPO. In an age where innovation, productivity and competitiveness are key pursuits for Australian business, outsourcing has become a tool that drives sustainable and scalable solutions with customer experience at its heart.

Scott Stavretis is the CEO of Acquire BPO, Australia’s largest offshorer to the Philippines, servicing a wide range of industries including telecommunications, banking and financial services, insurance, media, education and retail. The company helps leading organisations optimise costs, develop operational performance, increase productivity and efficiency and obtain flexibility in staffing and manpower management.

Scott Stavretis_compressed

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