What size should your company be to outsource
Do you find it daunting not knowing the right time and size your company should be to outsource back-office operations and support services? If your business requires assistance in its back-office operations or is focused on growing and needs to re-evaluate certain roles and responsibilities, then outsourcing could be extremely beneficial to you. Many businesses at some point are faced with the big question – should I hire internally or outsource services to a professional team?
We’ve worked with companies of every size, configuration and across an array of industries, and every company that outsources services has gained a better competitive advantage, maximized ROI, optimized business growth, and enhanced daily efficiency.
Here are some pointers as to what size your company can be to outsource:
Number of Employees
Companies that outsource services typically have at least 20 through to 1,000+ employees. The number of employees you have is an important factor to consider when deciding to outsource services, particularly how many employees you would like to expand by and have working in customer service and back-office operations.
Whether you have 20 or 150 employees, hiring a Business Processing Outsourcing (BPO) company allows you to seamlessly leverage your business potential and expand your team with at least three specialized team members. In turn, outsourcing employees saves you money and time on training as you gain access to a large, professional talent pool which has a wealth of knowledge and expert skills.
Structure of Business
The structure of your business is vital to contemplate before outsourcing. If your company is a family-owned primarily or CEO-run business with C-Suite then outsourcing back-office operations and customer support services would be highly advantageous.
Businesses with these structures tend to have long-term managers, employees, or family members and therefore will benefit from reliable, consistent, and customer-oriented teams in locations such as the Philippines, Ghana or Mexico.
Do you know your sale value? As a BPO working with an array of US companies, we tend to see enterprises that have a sale value of $1 million and multi-year contracts producing a minimum of $3 million and upwards to $10 million as well as mid-market companies that have a first-year revenue for a deal of approximately $300,000, and second-year revenue close to a million. Additionally, we also continually work with lower mid-market companies that equate to approximately $300,000 per year and span over 3 years rising to a $1 million or more account over the life of the client.
Size of Business
The size of revenue that your business generates is another key factor that can be considered before outsourcing services. We work with many mid-market businesses which can be identified with annual revenues ranging from $50 million to $500 million and enterprises with annual revenues of $500 million to multi-billions. Further, we commonly help lower mid-market companies optimize their back-office services and deliver top-tier customer services with an average of $5 million to $50 million in revenue.
Outsourcing back-office tasks and customer support services enable businesses to drive optimal results by working with a professional, specialized team. While the size of your organization’s business, sale value, number of employees, and structure of a business can vary depending on your resources available and business growth, you can still benefit from outsourcing services offshore and capitalize on the fantastic benefits that outsourcing delivers.
If you’re interested in learning more about outsourcing and what you should look out for when choosing a BPO, click here.