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3 Prime Areas To Cut Costs With Outsourcing During And After Covid-19

3 Prime Areas to Cut Costs with Outsourcing During and After Covid-19

The times have been quite scary for a lot of companies and businesses. At the beginning of the pandemic, many companies struggled to retain their employees and at the same time stay afloat. While the Federal Government offered lifelines such as the CARES Act to enable businesses to take care of payroll and other business expenses with a forgivable loan, businesses are still in financial turmoil.

Therefore, in a time such as this, one of the best ways for businesses to stay afloat is to get rid of needless expenses. And, there are key areas companies can use outsourcing to eliminate unnecessary costs. These key areas include the following;

1: Operations

Accounting, HR, and other operations do not slow down along with a slowing economy. In fact, it becomes more necessary to track expenses and cater to employees in a slowing economy. A perfect solution in this case is leveraging cloud services by outsourcing your company’s cloud needs to an expert.

For instance, Microsoft Company reduced daily operation costs by $129,000 by simply increasing cloud storage, leveraging its in-house Office 365 architecture, and using video conferencing tools to minimize travel and the expenses that come with it. The message is clear. Businesses should take advantage of tools that both reduce human and cost burdens on the operations teams. For instance, a business can take advantage of a self-service HR software program.

2: Lead Generation and Sales

Also, in a slowing economy, leads acquisition and sales need to be more intense in order to generate income. It is better to outsource most of the steps and processes involved in lead generation and sales. Right now, businesses of various types and sizes are increasingly outsourcing leads generation to reduce costs while trying to drive sales. In a similar manner, larger companies are outsourcing customer prospecting planning to help them get ready for what lies ahead.

3: Customer Service

All along, even before the coronavirus outbreak, customer service has been one of the most outsourced business functions. In fact, most companies discovered it is both more cost-effective and result-oriented to outsource help desk rather than do it in-house. Even as people are locked down in their homes, they are still exploring brands and their offers. Consequently, they place calls to learn more or get some technical help for items they purchased online.

Your business can take care of basic questions and other basic customers’ needs using Chatbot services. Typical examples include questions relating to return policy or business hours. Then, your offshore or onshore outsourced customer reps can handle complicated issues. Learn to leverage outsourcing to free up time for your core team.

While we pray and hope that covid-19 will vanish soon, it is good to use smart business solutions such as outsourcing to build a lean and less expensive work team.

Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams

One Response to “3 Prime Areas To Cut Costs With Outsourcing During And After Covid-19”

  1. Bruce Davis says:

    Thanks, Daven for being such a positive person and trying to help us all grow.

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