Sometimes what your business really needs in order to gain access to experts and save money is to outsource or offshore some of your work. But when you are thinking about the pros and cons of offshoring vs outsourcing, you may not be considering the following five benefits, which are specifically associated with offshoring. Keep reading to learn more so you can make the best decision for your business’s needs.
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Gain Access to Talented Employees
Offshoring provides you with access to a pool of talented individuals who are often young and always talented. There are many individuals who speak English very well in many foreign countries around the world, and they are educated at universities and highly skilled workers who would make a valuable addition to your staff.
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Be Closer to Customers Overseas
Another way that offshoring could benefit your business is by giving you closer access to global customers. You can provide the right product offerings to a regional market and be certain that problems can be resolved more efficiently as well. If you have the right support staff and developers in the most relevant locations around the world, you will even gain a better understanding of everything from customer needs and regional preferences, to regulatory compliances and other information that will allow you to implement products and services more effectively.
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Take Advantage of Lower Costs
When you set up a factory or an office in another country, you will be able to take advantage of savings on everything from energy to labor. Even rent and Internet connectivity might be lower in price in the host country than in your business’s home country. In fact, a lot of companies can realize savings of over 50% when they go the offshoring route.
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Take Advantage of Local Government Policies
Some governments around the world will actually grant businesses some special incentives and exemptions when they invest in the foreign economy. You may be able to take advantage of cheap credit or convenient tax exemptions, as a couple of examples, which could all help you save money while boosting profit margins.
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Remain in Control
When you outsource, you end up handing your control over to the production and operations of another company. But with offshoring, you will have your own staff for your own company simply working for you in another country. You will be there to provide training and direction, and you can be sure that all tasks are completed just the way that you want them to be completed. This means that you can keep total control over every aspect of your company, without having to worry about whether or not a contractor will do what you feel is necessary to keep your company going strong.
These are just five of the many benefits of offshoring that you probably never thought about before. So if you have been thinking about offshoring and/or outsourcing, definitely keep the information above in mind so that you can make the best decision to grow your business.