Businesses outsource for multiple reasons, whether it’s to cut costs, solve capacity issues, or bring focus to the core business. However, outsourcing is increasingly being done to increase work efficiency and effectiveness, with 31% of respondents saying they outsource to “enhance service quality”, according to a 2016 Deloitte study. This begs the question: how can outsourcing to Vietnam, specifically, optimize your business and increase your company’s performance? In the following paragraphs, Metasource lists some of the top reasons why you should consider business process outsourcing in Vietnam.
What is business process outsourcing?
Business process outsourcing (BPO) is delegating business activities to a third-party service provider. It is the fastest-growing industry in the world, and it extends to outsourcing. The most in-demand jobs in this field are customer service support and tele-callers for sales or lead generation. Instead of hiring an in-house team, companies can opt to outsource these jobs from outsourcing providers and get more fruitful results.
Functions most commonly outsourced include:
- Customer service
- Accounting
- Payroll
- Human resources management
5 ways BPO can improve your business
#1 Saves money on your overhead expenses
Businesses may cut costs by outsourcing services. For example, instead of hiring a dedicated payroll staff member, you can outsource payroll management which reduces costs on salary. Hence, the business will not need to purchase accounting and payroll software, resulting in more savings for the company. Same goes for accounting and tax reporting, and with many other non-core operations.
#2 Allows you to be more productive
When you outsource non-core activities, you have more time to focus on improving your business and working on core activities. Thus, productivity gains can allow your company to become more competitive.
#3 Gives you better results in non-core activities
Many starting businesses cannot afford to hire in-house specialists to complete certain tasks. Instead, they can opt for BPO providers, who can connect them to trained professionals for those tasks. Finding an excellent service provider means getting better results.
#4 Enables you to expand to new markets faster
The timeframe to set up a company can be quite long when entering a new market, as obtaining all the relevant documents, permits, and licenses can take several months, depending on your business classification.
But with business process outsourcing, you can start your business activities instantly. A service provider like Metasource can hire staff on your behalf with the employer of record service. The importer of record service allows you to start importing goods immediately. Additionally, accounting and tax reporting services ensure that everything is in compliance with local law and legislation.
BPO service providers are able to assist you in local hiring. Your BPO service provider already knows the local hiring market. Their expert knowledge in this area means businesses will be able to hire employees without having to deeply familiarize themselves with the local market.
#5 Hire full-time employees in remote markets
Through the employer of record service, it is possible to hire remote teams without setting up an office in their location. The employer of record service makes it easy to hire and manage staff, no matter where they are in the world. In addition, the employee gets to enjoy local employment benefits as well, which may improve employee retention rates for your company.
Business process outsourcing in Vietnam
Vietnam is a country that has undergone a remarkable transformation in the past few decades. Due to the openness of the market and regulatory changes to allow for more FDI, Vietnam has become a destination for outsourcing different types of business processes as well.
In the 2021 Kearney Global Services Location Index, Vietnam ranked 6th in offshore business services. The country is home to a highly-skilled workforce that continues to grow. Also important to note is that Vietnam is putting a lot of focus on higher education and English proficiency, the research suggests.
Business process outsourcing Vietnam to Metasource
Outsource your business activities to the reliable and educated workforce of Vietnam. Metasource provides the necessary BPO services:
Outsource your business activities to Vietnam by emailing us at info@metasource.co. Fill out the form below to learn more about how we can help you reduce costs and enhance your business objectives.
