Save Money on Your Existing Outsourcing Contract
Outsourcing to a vibrant outsourcing destination like India is a sensible decision to make. There are certain things to be aware of while you implement your decision of outsourcing to India. However, if you have already outsourced some of your services to an Indian service provider, here are some ways to save money on your existing outsourcing contract.
- Request your service provider to identify cost-cutting areas: If your vendor has been providing services for a reasonably long time, your vendor would have definitely got acclimatized to your requirements. Ask your vendor to look for areas of the process, which can be improved to maximize productivity. This would help in getting the work done faster, hence saving time and efforts. Ultimately, this would result in cost-savings for you. You could also motivate your outsourcing vendor with a bonus or a gain-sharing deal to come out with innovative ideas to do your work in a manner that saves costs to a great extent.
- Benefit from standardization: While your current outsourcing vendor is providing proficient services at a reasonable rate, you could perhaps brainstorm internally and develop ways to standardize the process that you have currently outsourced to your existing vendor. Once you standardize the process, you could suggest your vendor to follow it, which would increase efficiency and cut down costs considerably.
- Expand the scope of your contract: Re-examine your internal operations and see if you can outsource certain functions to your existing outsourcing vendor. This might bring about a great reduction in costs and enable you to focus on other critical operations in a better way. Look at ways to expand the scope of your existing contract by outsourcing some more services to your vendor, ensuring that both, you and your outsourcing partner benefit from the same. Doing so might give you the leverage to ask your vendor for further cost savings or save money by re-negotiating another deal.
- Review your vendor's performance: Chances are that your existing outsourcing vendor is also hit by the ongoing recession. Consequently, many vendors are responding to the pressure by reducing headcount, not performing as per their capability or shirking their contractual duties. Good governance will keep a check on the performance of your outsourcing vendor. Take a second look at the services provided by your vendor. If they are not up to the mark, inform your vendor about the same.
- Audit and benchmark: An audit can uncover work not done properly, while benchmarking can be used to negotiate lower pricing. The suggestion of benchmarking comes in handy as you can check whether your vendor is charging you as per the industry benchmark or more than that. This often leads to a relatively candid discussion regarding pricing and, in many cases, to a price adjustment. If your outsourcing relationship with your vendor has been existent for a year, you should contemplate re-negotiating your contract and the rates at which you are receiving the services. Ensure that quality and service levels do not take a beating. As an alternative to renegotiating prices, you can ask for enhanced productivity.
Benefit by outsourcing non-core services to Outsource2india
Legal Process Outsourcing: Outsource2india provides expert legal process outsourcing services at cost-effective rates. If you have been on the lookout for services such as legal drafting, legal analysis and legal research, you can opt to outsource your services to Outsource2india. You can significantly reduce costs by almost 50%! The team of legal experts at Outsource2india can help you draft various legal documents, review legal documents and also conduct legal research. Instead of setting up an in-house legal department in your company, you can simply outsource your legal services to Outsource2india and save on the cost of hiring attorneys.
Research and Analysis Services: If you are planning to launch a new product in the market, consider outsourcing your market research activities to Outsource2india, a company that employs highly skilled and qualified research professionals. We, at Outsource2india, provide comprehensive research services at cost-friendly rates. The research team at Outsource2india comprises of experienced MBAs, Post Graduates and PhDs who are proficient with the usage of Microsoft Excel for research purposes. Our areas of expertise include SWOT, PEST, Porter Five Force, DCF, IPO and competition analysis. Apart from market research, Outsource2india can also help you with financial research and pharmaceutical research. By outsourcing your research requirements to Outsource2india, you can get access to high-end services such as perceptual mapping, company profiling, key opinion leader research, trend analysis and competitor analysis.
Engineering Services: Outsource2india offers professional engineering services, be it mechanical, civil, structural or architectural. If you need expert engineering services at competitive rates, consider outsourcing your requirements to Outsource2india. We, at Outsource2india, can also provide customized engineering services. With over 12 years of experience in the field of engineering and with an extensive knowledge of industry standards, we are an ideal partner to outsource your engineering services to. For any engineering project, we follow a workflow, which consists of four stages, namely Project Planning, Process Definition, Execution and Design Verification. Whether it is AutoCAD, SolidWorks, XSteel, 3D Studio Max or ArchiCAD, we have the expertise across a range of mechanical, structural and architectural software.
