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2015 UK IT Outsourcing Study: 10 Key Insights. As technology continues the advance at a rapid speed, it’s no wonder that IT outsourcing (ITO) is one of the fastest-growing industries in the world—and it’s no exception in the UK.

2015 UK IT Outsourcing Study: 10 Key Insights

A recent study of ITO customers and contracts in the UK conducted by Whitelane Research in collaboration with PA Consulting Group shows how and why demand for ITO services in the UK will grow. The researchers surveyed top executives from 260 of the UK’s biggest consumers of ITO services that hold more than 800 unique contracts with a collective value of more than £15 billion—almost 75% of the UK market by value. Here are 10 of the key statistics and insights from the study. 1. Majority of UK businesses will continue to outsource… The market of outsourcing companies in the UK is expected to grow. 2. However, 15% of the surveyed organizations said that they will outsource less. 3. 4. 5. Over 70% of the 260 organizations surveyed use nearshoring or offshoring. 6. 7. 8. 9. 10. The Benefits of Outsourcing: A Guide for SMEs.

Being a small or medium-sized enterprise (SME) in any industry is a tough feat to pull off, especially if the most lacking commodity you have is time.

The Benefits of Outsourcing: A Guide for SMEs

Most start-ups face this dilemma, and it could be very frustrating when you’ve got all the ability and commitment to move your business forward, but certain areas can’t be given enough attention because of time constraints. Outsourcing, or the practice of employing the help of outside firms to handle important work a business does not have certain resources for, is now becoming popular among many entrepreneurs. Outsourcing Services: Which Is Best for Your Business?

Outsourcing wasn’t formally recognized as a business strategy until 1989, but businesses have been outsourcing ancillary services to external suppliers even before.

Outsourcing Services: Which Is Best for Your Business?

With industrialization bringing about specialization of services and an increase in demand for such—outsourcing has become the solution. What’s seen as an advantage is the myriad of outsourcing services businesses can choose to outsource. There are several types of outsourcing services, based on the task or service provided, location, and relationship involved. Outsourcing Can Save Your Business Time and Money, Here’s How.

Most small to mid-sized enterprises, particularly start-ups, encounter this problem: How do you expand your operations with minimal risk at the least expense?

Outsourcing Can Save Your Business Time and Money, Here’s How

How do you manage day-to-day operations without taking the focus off on core business activities? For most of these businesses, time and money are always on the short leash. Exploring the Reasons Behind the Practice of Outsourcing. More and more companies are considering outsourcing services for their non-core business functions recently.

Exploring the Reasons Behind the Practice of Outsourcing

To understand this emerging trend among companies, we’ve listed some of the reasons behind the practice of outsourcing. Strategic Focus CEOs know that they can’t focus on their businesses’ core competencies if they keep micromanaging all areas of their businesses. Hence, it is wise to focus on core competencies and outsource those that are considered non-core or secondary business functions. When we say non-core work, we refer to work that is routine, easily replicated, and transactional. For example, a business can focus on innovation and design, and outsource non-core work such as administrative tasks. Financial Savings Cost savings and control are the main drivers why companies choose to outsource non-core business functions. The Case for Outsourcing and How It Drives Growth and Efficiency. It’s a widely held notion that businesses turn to outsourcing to reduce operational costs.

The Case for Outsourcing and How It Drives Growth and Efficiency

However, naysayers are wont in pointing out that these cost savings are an exaggeration. Worse, they even say that it comes at the expense of higher coordination costs for managers, increased shipping and financial outlay, and not to mention, heightened security and business risk for the outsourcer—resulting in lower efficiencies. Think Long-Term When Outsourcing: The Risks of Short-Term Outsourcing. Many companies have learned to rely on outsourcing as their solution to the rising production and operational costs.

Think Long-Term When Outsourcing: The Risks of Short-Term Outsourcing

Aside from financial savings, outsourcing can also give you the advantage of tapping technical resources and skills for specific projects and areas in the business that your workforce lacks. Other benefits that you can acquire from outsourcing is rising to your market’s current demands and turning an unproductive department into a profitable one. Dangers of Short-Term Outsourcing However, there are many other things to consider when you outsource tasks to a service provider such as thinking beyond the immediate solutions, which the arrangement can provide.

Companies Speak up on their Expectations in Outsourcing. The outsourcing industry experienced a huge growth spurt in the past two decades, with BPO companies expanding offshore, to provide affordable services and solutions to their clients, and at the same time, tapping into a tremendous talent pool globally.

Companies Speak up on their Expectations in Outsourcing

The reason for companies choosing to outsource their services has also evolved. From being a cost reduction option, the decision to outsource has become value-driven. Perhaps, this stems from the fact that companies have figured out what they want to get out from partnering with outsourcing providers. 1. Companies want solutions. Whenever companies consider outsourcing, they have an outstanding problem or situation they cannot solve on their own. 5 Tips to Boost Business Profitability Through Outsourcing. Profit margins are the main indicators of business profitability.

5 Tips to Boost Business Profitability Through Outsourcing

The size or growth of a business ultimately doesn’t matter if it isn’t making any profit. In fact, boosting profitability has always been a critical objective for executives. There are two ways you increase profit margins and ultimately, business profitability; either you increase your prices or reduce your costs and expenses. Between the two options, cost reduction seems to be the preferred method as outsourcing services has become a viable strategy for businesses these days. 8 Benefits of Choosing a Single-Source BPO Partner. Finding the right BPO partner to handle areas in your business is critical to your company’s success.

8 Benefits of Choosing a Single-Source BPO Partner

It will require you to conduct a thorough research and study with regards to the quality of service, financial standing, and potential of the BPO companies you’re considering before choosing who among them will provide your business with the most value. Although multiple sourcing has its advantages such as assigning projects to a specific specialization, single sourcing offers consistency and efficiency that is usually lacking in multiple sourcing models. Here are other reasons you should consider a single-source BPO partner. 1. Efficiency. Why Building a Collaborative Environment is Another Key to Outsourcing Success and How to Do It. As outsourcing moves up the value ladder in organizations, so do the complexities of outsourcing services. It is no longer just service delivery but a partnership between the organization and outsourcing provider. 7 Effective Outsourcing Trends in 2015 You Should Implement in 2016 and Beyond.

The BPO industry thrived on the new improvements introduced in 2015, from the quality of service BPO providers give to their clients to utilizing technology to best meet service requirements. Here’s a list of the most successful ones that every outsourcing company should implement towards the end of this year to the next: 1. Client satisfaction This year, BPO companies have raised the standards in terms of pursuing client satisfaction. It is no longer just about passively filling in the positions, but a partnership that ensures that you can provide your clients the best service they can possibly receive.

Enhancing Customer Experience Helps Banks Regain Consumer Trust. A Newbie’s Guide to Profit and Loss Statement. Bridging the Looming Talent Gap in the Insurance Sector Through Outsourcing. Leveraging the Benefits of Outsourcing Accounts Payable For Businesses. 4 Benefits of Outsourcing Mortgage Processing You May Not Know About. 5 Ways to Manage Your Accounts Receivable More Efficiently. 9 Key Considerations in Choosing the Right Cash Management Platform. Basic Finance and Accounting Q&A Guide. The Path to Success: Achieving Business Growth with a Finance and Accounting Outsourcing Partner. Risk Management Guide For Mid to Large-Size Businesses.

How to Capitalize on Social Data for Successful Holiday Campaigns. It’s the most wonderful time of the year! No matter how cliché it sounds, people around the world are happily anticipating the holiday season, doing all sorts of preparation, mostly financially, to make this season the most joyous ever. Social media plays a crucial role in that preparation stage for consumers and businesses alike.

5 Ways to Discover True Customer Sentiment About Your Business. A Complete Guide to Maximizing Content Aggregation for Your Business. Have you ever observed how a particular content is being presented in many different ways by different sites? They’re all talking about the same thing but each article is different from the other. If you have, chances are you have been following sites that aggregate content. What is Content Aggregation? 3 Ways Outsourcing Helps Manage Data Privacy Risks.

What We Learned About Marketing in the Last Decade of Social Media Evolution. Introduction Social media has only become mainstream for roughly over a decade. But, the way it has been playing an integral part of how we do business these days, feels like it has been around for a century. The growing pace of social media and its impact has evolved in such a way that it is continuously shifting, leaving marketers constantly challenged, and most businesses overwhelmed with the never-ending changes.

The Ultimate Checklist to Winning in Community Management. Community Management today has extended beyond the bounds of the physical realm and into the online world, just as the traditional role of PR has expanded to include virtual communities and social media followers. Company Leaders Give Insights on the Impact of Big Data Analytics. Survey Design and Analysis: A Quick How-to Guide. Data Analytics: Is it Worth Outsourcing? Big data became more than a buzzword when industries discovered its huge potential.

And with this finding, came a new science called data analytics. The demand to understand all the data we’ve been creating and amassing has grown to a level, which not all businesses among different industries can cope with—making outsourcing a valuable option. Social Media Facts & Statistics 2015 - Infinit Datum. Social media use continues to grow around the world. A survey from WeAreSocial.net reveals that social media’s year-on-year growth remains strong with global penetration rates now in excess of 30%. Social Media Management 101: DOs and DON’Ts for Brands on Tragic Events. 6 Offline Skills Your Social Media Customer Service Representatives Must Have.

Quality Over Quantity: When Is It Better to Offer Fewer Customer Service? 10 More Customer Service Trends in 2015. Hybrid Contact Center: A Trend to Watch. APAC Region's Contact Center Outsourcing Market Projected to Grow 11.76% by 2019. Checklist for Writing an Excellent Customer Service Email. Outsourcing Social Customer Service: Good or Bad for Business? Here's Why Fortune 500 Companies Outsource Customer Service (and Why You Should, Too) How to Be a Company That Provides the Best Customer Service.

Handling Irate Customers in Social Media: Delivering Good Social Customer Service. The 5 Ws of Customer Service Outsourcing. 5 Ways to Value Your Customer Service Team This Customer Service Week 2015. 6 Ways the Internet of Things Is Changing Contact Centers. Don't Need a Call Center? Here Are 5 Reason Why You're Wrong. Social Media VS Telephone: Which Resolves Customer Service Issues Faster? Why Businesses Should Automate Processes Through Business Process Outsourcing and What to Consider. Customer Service vs Customer Experience: How They Differ and Why They Matter. 4 Ways to Measure the Effectiveness of Physical Distribution for Increased Customer Satisfaction.

Customer Service: The Face of New Marketing. Your Guide to Digital Customer Experience Strategy for 2016. How Healthcare Analytics Technology Can Improve Patient Care Quality. Outsourcing vs In-Sourcing: Which is Cost Effective for Healthcare?