Why the need to outsource is now more urgent than ever

If your company has not previously been outsourcing some of its business operations, this might be a good time to consider it. It may be a useful solution to boosting productivity and a better use of resources. It enables managers and staff alike to focus on achieving the business strategy and objectives whilst the support is outsourced.

Here are four key reasons as to why outsourcing deserves that second glance: A key part of surviving a recession is knowing where to place focus.

Outsourcing can help with such a strategy — outsourcing some of the peripheral business processes such as accounting, tax preparation and data entry allows oneself the time and resources to focus on the core business processes. Areas such as these rely more or less on practices rooted in a standard methodology, which can allow one to rest easy in the knowledge that the functions are being performed efficiently and effectively.

One might argue, however, that by hiring staff to perform these functions internally, the business could be depriving itself of the opportunity to access the best possible quality of work. Using the example of accountants, Angela Lee Loy, Chairman of Aegis Business Solutions, a local and regional provider of outsourcing services explains that “not all accountants will have the required in depth knowledge of your industry,” stressing that “this added value is crucial in these current economic times.” In addition to the general superior quality of the outsourced work, another advantage is it tends to be more cost-effective, allowing the business to improve its bottom line through better management of expenses and resources.

A recession usually means restructuring, but that should not affect the overall productivity and efficiency of the business functions, whether principal or peripheral.

While riding out the storm, one may be in need of temporary resources, making outsourcing a lifesaving option.

Although the sheer nature of business is competition, there is a certain camaraderie that facilitates necessary cooperation and the building of strong linkages. Lee Loy reiterates, “when services are outsourced, businesses gain access to a broad spectrum of services with tremendous knowledge in each support function to make their business successful.” Furthermore, there is an increasing number of foreign companies seeking local outsourcing services. According to Mariska Seeraram, Head of HR and Talent Strategy at Aegis, Trinidad and Tobago is currently the principal nearshore location for offering services to the Wider Caribbean.

Most overseas companies lack a local presence. An outsourcing organisation possessing knowledge of local industries across various business support functions can make the process of doing business in Trinidad and Tobago a smoother one.

Aegis Business Solutions has provided business operations services in the areas of Accounting and Tax, Payroll, Human Resources, Financial Advisory, Internal Auditing and Corporate Secretarial since 2001. With a selection of offerings tailored to SMEs, Aegis stands as the country’s leader in outsourcing services, which it provides locally, regionally and internationally.