Outsourcing has developed into a global administrative strategy by which organizations allocate value-chain activities to third party companies.

Although this business practice is accepted by various industries, several misconceptions regarding outsourcing continue to persist.

In this article, we will shed light on the true nature of outsourcing:

The Main Goal of Outsourcing Is to Save Money 

Not only may outsourcing save costs, but it also facilitates expansion, provides access to a worldwide talent pool, and allows for urgent changes to suit customer demands.

Losing control over business operations is a consequence of outsourcing

With skilled management and explicit service level, outsourcing can actually provide you more control. Businesses are able to define exactly what they want and how well the work should be completed, while yet maintaining control over the tasks they outsource.

Outsourcing decreases the standard 

To ensure that their work meets or even exceeds the expectations of their clients, a large number of outsourcing organizations adhere to stringent standards and hold certifications.

Outsourcing Causes Security Issues

Reputable outsourcing organizations implement robust security measures to protect customer information as data security is vital. If the proper safety measures are followed, outsourcing can be just as secure as doing work internally, if not more so.

Research Indicates Outsourcing Can Be Highly Beneficial by:

• Reduced expenses: Businesses can cut costs by up to 70% by hiring laborers from nations with cheaper labor rates.
• Talent of High Caliber: About 78% of companies are satisfied with the level of quality and performance the employees deliver.
• Concentrated on Main responsibilities: Approximately 57% of businesses use outsourcing to concentrate on their core competencies and strategic goals.

Thus, outsourcing is a corporate strategy that provides several advantages further than financial savings. It's an excellent option for all types of enterprises hoping to achieve greater success in the global marketplace.

Source:

Six Misconceptions About Outsourcing Debunked - Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/2021/06/18/six-misconceptions-about-outsourcing-debunked/.

Top 16 myths and misconceptions of outsourcing. https://www.outsourceaccelerator.com/articles/myths-and-misconceptions-of-outsourcing/.

7 Most Common Misconceptions About IT Outsourcing. https://www.vc3.com/blog/7-most-common-misconceptions-about-it-outsourcing.

8 Outsourcing Myths Debunked: Our Deep Dive into Common Misconceptions .... https://hatchworks.com/blog/nearshore-development/debunking-outsourcing-myths/.

Top 5 Common Misconceptions about Outsourcing. https://clarkoutsourcing.com/blog/top-5-common-misconceptions-about-outsourcing/.