5 Outsourcing Examples for High-Growth Businesses | 8x8

5 Outsourcing Examples for High-Growth Businesses · 1. Contract Manufacturing · 2. Customer Service Outsourcing · 3. Business Development and Sales. 5OutsourcingExamplesforHigh-GrowthBusinessesKevinV.NguyenMarch19,2019Forhigh-growthbusinessesinindustrieslikehigh-tech,biotechnology,andrenewableenergy,thereareanumberofessentialbusinessprocesseswhicharefrequentlycontractedouttothird-partybusinesses.Outsourcingexamplesinclude:ManufacturingCustomerserviceBusinessdevelopmentandsalesMarketingandadvertisingAccountsreceivablecollectionsEachoftheseoutsourcingscenarioshasitsownuniquebenefits,solet'sdiveinalittledeeperoneach.1.ContractManufacturingSomeofthemostsuccessfulandwell-knownbusinessesoutsourcetheirmanufacturing-includingStarbucks,Apple,Nike,andCisco.Thesecompaniesestablishthedesigns,technicalspecifications,andemploymentstandardsofthemanufacturingprocess,butdon'tneedtoinvestinthecapitalcostsofafactory,productionequipment,ormanpower.Manufacturingindustrysegmentslikeelectronics,automotive,consumerpackagedgoods,andpharmaceuticalsareespeciallylucrativeforcontractmanufacturers.Popularbrandscanfocusonresearchanddevelopmentofnewproductofferings,whilecontractmanufacturerscanfocusonwhattheydobest,buildingmarket-readyproducts.Contractmanufacturingcancontrolcostswhileimprovingprofitability.2.CustomerServiceOutsourcingContactcentersarealeadingsegmentofthebusinessprocessoutsourcingmarket.Thisindustryhasevolvedfromround-the-clockinteractionswithcustomersonthephonetomulti-channelcontactcenters,connectingwithcustomersacrossvoice,livechat,socialmedia,andemailchannels.ManyonshoreandoffshorecontactcenterBPOshaveimplementedcloudcontactcenterandunifiedcommunicationsplatformstoenableefficientinteractionmanagementacrossallofthesechannels.Italsoenablesreal-timeandhistoricalmonitoringofperformanceagainstservicelevelagreements.ThecontractBPOmanageshumanandtechnologyresourcemanagementandtakesdirectionfromtheircustomerontheskills,expertiseandqualitystandardsrequiredtomeettheirobjectives.3.BusinessDevelopmentandSalesBusinessdevelopmentandsalesoutsourcingtakemanyformsinthedigitalage,including:AffiliatepartnershipsContracttelemarketingcompaniesValue-addedresellers(VARs)CommissionedsalesagentsContractsalesagenciesInternationaldistributorsHigh-growthbusinessesoftenneedtoinvestagreatdealoftheirHRbudgetinresearch,development,anddeliveryoftheirproductsandservices.Contractingoutsalesonasuccess-onlybasis,orothercontractarrangementsisgenerallymoreaffordablethanpayingfortheheadcountoffull-timesalesandaccountdevelopmentemployees.ThesesortsofcompaniesoftenleverageserviceslikeUnifiedCommunicationsforonlinemeetingsbetweencustomersandpre-salesengineersorproductmanagers.4.MarketingandAdvertisingDigitalmarketingandadvertisingagenciesareequallylucrativeasextensionsofacompany'sin-housemarketingteam,orasacost-effectivewaytooutsourcethecreative,technical,andtacticalelementsofmarketingcampaigns.Self-serviceande-commercewebsitesareactingasstand-aloneprofitcentersformanybusinesses.Thosecompaniesthatdon'thavecorecompetencieswithdigitalandphysicalmarketingandadvertisingarealigningwithagenciesaroundtheworld.UKSEOanddigitalagencyTrendzerhashadgreatsuccessinaccountmanagementandbusinessdevelopmentwith8x8ContactNow,amultichannelcontactcentersolution.Thoughcontactcentersareusuallythoughtofasverylargeteamsofagents,smallerteamscanbenefitfrombetterinboundandoutboundactivity.DigitalagenciesoftenneedtohavescreensharingsessionstopresentdesignprojectphasesandpresentstatisticslikeSEOtrafficandranking.5.AccountsReceivableCollectionsForhigh-growthbusinessesthatarelookingtobuildrelationshipswithcustomers,pursuingthosesamecustomersforpaymentscanbeanuncomfortable,anddelicateprocess.Contractcollectionagenciescanprioritizeclientfollow-upsbasedonhowlongpaymentsareoutstanding.Asathird-partycollectionsagencydoesn'thavethesamesortofrelationshipwithyourcustomerthatyourbusinessdoes.Whetheroneofyourcustomersjustneedsa"nudgereminder"tosendinapayment,orifit'stimetocollectalumpsumpaymentandpartways,outsourcingyouraccountsreceivablescanbeagreatwaytoreduceinvoice-to-cashtimelines.Leadingcompaniesthatspecializeincollectingdebtshavethestrategicandlegalexpertisetobringinoutstandingpayments.Theyalsoknowhowtousetacttopreserverelationshipswhichareworthkeeping,ornotifyingyourlegalteamwhenit'snecessary.CollectionsagenciescanleveragecloudcommunicationsplatformslikeVoIPandcontactcenterplatformstoo.Functionslikepredictivedialingandexpertconnectandworkforcemanagementareidealforhigh-volumecollectionsagencies.Isyourbusinesslookingtoshiftresponsibilityforcertainfunctionsofyourbusinesstoacompanythatspecializesinprocesseslikemanufacturing,sales,marketingorcollections?Theseoutsourcingexamplesoffersomestrategiesforhigh-growthbusinesses.We'realwaysinterestedinlearningaboutothers.Yourbusinesshasenoughonitsplate.Outsourcewhatmakessenseforyourbusiness,chooseaworld-classSaaStechnologysolutionandfocusonwhat'simportant:yourclients.Call1-877-478-0576orfilloutanonlineformtorequestano-obligationquotefroman8x8productspecialist.RELATEDTOPICSInsourcingvsOutsourcingAPIOutsourcingBrowseothercategoriesTechnology&TransformationIndustryTrendsEmployeeExperienceBusinessOperationsCustomerExperienceWorkFromAnywhereOriginalThinkersMovetoCloudSeeallarticlesBrowseothercategoriesTechnology&TransformationIndustryTrendsEmployeeExperienceBusinessOperationsCustomerExperienceWorkFromAnywhereOriginalThinkersMovetoCloudSeeallarticlesExploreRelatedMar7,2022ARoleModelforInternationalWomen’sDayandEveryDayMeghanKeoughITdirectorLisaDeLapoishelpingtobreakthebias.Mar4,2022TheRealCostsofDoingNothingMayurPitamberWhiledoingnothingmayseemlikethebestchoice,maintainingapatchworkoflegacycommunicationsiscounterproductivewhenconsideringthebroaderimplications.Learnwhyyoushouldconsiderthemovetothecloud.Jan27,2022☕Warm-upto8x8Winter2022ReleaseHighlights.NehaChughThelatest8x8featureupdateswillenableorganizationstodrivebetterin-meeting&post-meetingexperiences,reducecosts,andprovidetailoredexperiencesforadistributedworkforce.Seethehighlightsinthisblogpost.RequestaQuoteGetyourfast,no-obligationquotenow 1-866-879-8647Chatwithan8x8ExpertChatwithSalesScheduleaMeetingorDemoCalculateyoursavingsin60-seconds.Start8x8ROIToolNeedproducthelp?GotoSupport