The year 2020 has emerged as one of the most challenging years in recent history, with the whole world responding and looking to recover from the health and economic challenges posed by the COVID-19 pandemic. COVID-19 has impacted every industry, causing businesses to revise budgets, amongst many other operational matters, in order to manage the effects of the pandemic. With the viability of several companies at risk, as a result, companies are striving to be in a position of financial stability by focusing on revenue generation and outsourcing non-core functions. Global competition for most businesses is fierce. Therefore, businesses must take advantage of areas they can leverage to improve efficiency and reduce costs in order to allow more time and human resources to focus on generating revenue activities. Bringing more efficiency to the daily workflow while also scaling productivity, will become the focus of many businesses in the future. Working with an experienced outsourcing provider helps companies overcome productivity challenges, streamline operations and add additional resources that may be lacking in-house. From sales to recruitment to operations, outsourcing provides an unlimited amount of opportunities to help your business work smarter. Advances in technology have helped forward-looking companies to benefit significantly from outsourcing services for quite some time now. This is particularly relevant for small to medium-sized enterprises, who simply lack the space or labor funds for in-house auxiliary departments like finance and payroll. There are one-time opportunities emerging from the disruption of the pandemic, therefore it is vital for businesses to re-assess their strategies and the way they operate. Through outsourcing, businesses can create a pool of additional funds, from the elimination of expenses from non-core activities, thus enabling opportunities for growth and innovation. The outsourcing model reduces expenses by eliminating the need to hire or train new employees and/or the support staff (HR, admin, etc.) and increase occupancy costs and investment in additional office space and equipment. Having a large pool of outsourced “on-demand” talent means companies can rapidly scale their workforce without the need to hire additional full-time employees and increase their overheads and their investment in office space and equipment. Using outsourcing creates new opportunities and makes better use of existing talent that helps employers get the most out of their current workforce. One of the main appeals of using contracted workers is the new opportunities created for existing employees. Not only to improve morale but to promote creativity and enhance their overall value to the organization. Certain auxiliary tasks that are outsourced, allows in-house talent to focus on more strategic activities and projects that better leverage their skill sets, knowledge, and abilities and truly generate results. Similarly, for every employee that is not hired to perform a support function, more budget is available to hire a revenue-generating employee. Further to saving time and money which usually garner all the attention, outsourcing certain operational functions allow access to the latest technology and systems as well as best-practice in certain activities. With technology expected to grow exponentially and disruptively in the coming years, investing in the latest technology may not be an option for most companies but outsourcing will give them access to the latest available technology and therefore allow them to remain competitive and relevant. Not only due to COVID-19, but businesses today are also facing a rapidly evolving landscape, including regulatory changes, continuous advances in technology, and the adoption of more sophisticated approaches by authorities. These challenges are causing businesses to rethink the appropriate mix of in-house and external resources in efficiently managing essential operational processes with visibility, flexibility, transparency, and control. Outsourcing ultimately offers business owners great advantages. The process allows them to build a team of skilled professionals without adding the expense of full-time employees and additional office space and equipment. With outsourcing, business owners and senior management can focus their time, attention, and resources on their company’s core competencies and spend their time setting new goals and finding ways to achieve them. credits/source: https://www2.deloitte.com/cy/en/pages/tax/articles/outsourcing_relevancy_post_covid19_environment.html
Tru29 Announces its new Philippine Landline Number
Tru29 is glad to announce its strategic partnership with PLDT. The partnership is in line with the continuous endeavor of Tru29 to improve its services to the general public, its employees, and clients by provisioning a new Philippine Landline Number as shown below: +63 2 8545 2690 This new landline number of Tru29 shall be activated and available starting on the 19th of January 2021. Tru29’s Management continually seeks to improve every aspect of its operations.
Outsourcing Benefits During The Coronavirus Pandemic
Every industry in the world has been affected by the COVID-19 pandemic, particularly the food industry, and has suffered many organizational and financial challenges. Companies are also searching for ways to solve the issues while meeting the needs of their clients, consumers, or staff. Outsourcing is a very useful practice. It was before the COVID-19 pandemic, remains so during, and will continue to be afterward. It allows businesses to increase their capacity and output to meet unexpected or immediate demands. It is an option that works well to improve productivity and efficiency and keep on top of costs. Outsourcing is a type of arrangement where a company reaches out to external suppliers to conduct its business functions or activities. You may either move the business activities to a neighboring country or to a distant country known as offshoring. What tasks can be outsourced? Inventory management Payroll Social media management Content creation IT services Data conversion Call center (customer service, helpdesk, technical support whether via chat, phone or email) Website management (design, development) Transcription Accounting and bookkeeping These days, a business has to be flexible and have workforces that are responsive to the ever-changing environment. That has never been so apparent as with the COVID-19 pandemic – an agile workforce is essential. Here, we look at the broad benefits of outsourcing during the coronavirus pandemic. Why can outsourcing benefit a business during the Coronavirus pandemic? Outsourcing helps to improve efficiencies and controls costs In order to increase efficiencies and control costs, outsourcing is now a very viable option. Most companies who do use outsourcing can verify that the process can take a number of in-company obstacles simpler. It enables management to concentrate on the core business operation and to reduce the time and costs associated with staff on-boarding, to encourage their training and development needs, to handle the criteria for leave, and to avoid the need to maintain adequate resources to cover possible absences. In today’s dynamic climate, where companies need to be able to survive any economic downturn while still ensuring continuity of operation, these costs need to be carefully considered. Outsourcing these tasks means that organizations can accomplish all goals and that decision-makers can ramp up or scale down requirements to meet their business needs. Specialists in outsourcing will hit the ground running, enabling important people inside a company to spend more time on the core business activities and gradually becoming more productive and thus more profitable. Outsourcing gives organizations access to a wide range of skills and fast turnaround Businesses can take advantage of a wide variety of expertise and skills when it comes to outsourcing and using external resources and ability, perhaps more than anyone can understand be Outsourcing can provide the right personnel, for everything from finance, legal, logistics, marketing, sales, and facility management and managed IT services, to list just a few. It has been found that companies can rapidly increase their capacity to meet urgent or unforeseen requirements and change their scale in a prudent way. The rapid turnaround is one of the advantages of outsourcing because resources with specialist experience and the requisite skills are instantly available without substantial investment in preparation, growth, and onboarding. Outsourcing often has major cost savings and time-saving advantages, whereby the costly control of internal resources is substituted by a negotiated fixed sum for the outsourcing provider. Outsourcing gives businesses the ability to reach a larger pool of resources that will allow them to use added-value skills that would not otherwise have been an option in many cases. Added to this, while outsourced team members can become an integrated part of an organization, they will also bring a new viewpoint and probably new ideas that will act as a catalyst for change. Outsourcing allows businesses to keep up with the competition Outsourcing is not just for huge firms and everybody can do it. For small businesses, it is particularly helpful since they do not have the budget or capital to handle their operations. In addition, it is better to outsource as it would meet their financial requirement, and they don’t even have to think about recruiting more individuals to bring in new talents. In addition to that, it will allow them to compete with large corporations by providing the same knowledge, resources, and services to their potential clients. Outsourcing provides much-needed continuity during periods of instability The continuity given by outsourcing is one very significant advantage of the process particularly in the context of the COVID-19 pandemic. Outsourcing often offers continuity cover to organizations to make sure that the job can always be done in compliance with the negotiated deadlines. This is a particularly important focus for most businesses. Ultimately, whether to retain in-house personnel or outsource your tasks depends on you. It is advisable, however, to choose to outsource because during the pandemic situation it will help a great deal in growing the business. If you still think it’s a little daunting, then you can begin by first outsourcing the low-value tasks. This may include activities that are highly repetitive and require less skill such as data input. You can think about outsourcing highly specialized activities, such as website creation or graphic design, once you are pleased with the outcome. If you have already planned to outsource some or all of your business needs, then compile all the company or individual details you want to work with. When it comes to outsourcing, it is a very important move, particularly if the firm is located in another country. Also, make sure that the team you work with is competent, trustworthy, and works on similar kinds of projects. It will make sure they are trustworthy enough to outsource the specifications of your project. Besides, despite any time gaps or cultural barriers, you can rest assured that they can get the work done on time. credits: https://entrepreneurialchef.com/outsourcing-benefits-during-the-coronavirus-pandemic/
BPO office expansions show signs of recovery amidst the pandemic
Leading the resurgence is the surge in demand for office space from the business process outsourcing or BPO sector. Strong takeup of the BPO sector pushed 381,000square meters worth of new office space deals, the consultancy firm reported, with 69% located in Metro Manila. The on-demand hub was Iloilo, beating Cebu and Clark. The IT-BPM industry accounted for 48% of the new leases, which helped offset the exodus of Philippine offshore gaming operators or POGOs, which Leechiu said has not taken up new commercial leases since March when the sector as part of the general lockdowns. In sum, 540,000 sqm of office space were vacated this year, the bulk of which were in Metro Manila where the coronavirus outbreak was first detected. Of these, 51% were POGO spaces. This translated to ₱1.4 billion in losses from office rent. source/credits: https://cnnphilippines.com/business/2020/12/15/Leechiu-Q4-briefing-office-space-retail-recovery.html
