Outsourcing as a viable strategy for SMEs

Jim Downey FCMA, Managing Director of Outspan UK talks to David Riley about outsourcing for SMEs.

Part 1: Why are SMEs looking to outsource
There are a number of reasons SMEs are looking to outsource from achieving cost competitiveness, accessing advances in technology, improving business processes, accessing talent  and freeing internal resource up for higher value activities

Part 2: How can outsourcing work with flexible structures common in SMEs
Outsourcing is ideally placed to support the flexibility SME’s need. SMEs can flex resources to meet customer demand, reducing the risk of new product launches as resource can be “turned on or off”. A trial is a good way to find out if an outsourcing provider is a good fit with your business.

Part 3: What to outsource and how outsourcing impacts controls
A useful guide as to what to outsource can be found by evaluating strengths and weaknesses in the business - strengths are usually 'core' activities and should be retained; weaknesses are often 'non-core' and are better outsourced. Controls and governance can be improved by outsourcing, due to better process design, implementation of SLAs and improved transparency of data.

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