No matter how big or small a business is, they start thinking of outsourcing their internal tasks at some point in their growth or they may look for an In Country Partner (ICP) who is able to handle the majority of their activities without the necessity for them to set up an entity in the country. What I would like to share in this blog is what the companies need to consider when choosing the right outsourcing partner or vendor. The following are some of the important factors to be considered and they are all equally important.
• A clear scope of work
• Market reputation
• Protection of your data (being confidential)
A Clear Scope of Work
First of all, are you able to give a clear and detailed scope of work (SOW) in writing to avoid any misunderstanding and is your outsourcing partner able to complete all that is included in the SOW? It is your responsibility to share your business goals or the challenges that you are facing so that your partner can give you a potential solution and help you with your needs. Without a clear SOW, you might not be able to achieve the desired outcome.
Market reputation is also important. Whether they are reliable or trustworthy, you might want to check their market reputation first before you work with any potential partner. The quality of the services that was previously given by the potential partner to other clients/businesses cannot be changed and it will give you a good idea of how they are likely to perform for you. As no business can afford to work with a partner who is untrustworthy, unreliable, or gives low levels of service this market reputation can be very beneficial when choosing a potential partner. Obviously, a company with a strong reputation will give you extra confidence that your needs are going to be met.
Protection on your data (being confidential)
In the modern age, all businesses are giving more importance to the data they share externally. You want to be sure that your partner will keep your company’s information confidential and how will they manage to do this. It’s highly recommended that you sign a non-disclosure agreement (NDA) with your selected partner before sharing any sensitive information. We also strongly recommend that you ask them to share with you the processes they follow around data security.
It is also important to have an outsourcing partner who is able to match and adapt to your requested changes and requirements quickly. If you have urgent matters or requirements that arise, having a flexible outsourcing partner can respond to your needs, it will remove many headaches. Some larger organizations have very strict policies and rules and will only ever work within them.. For example, adding an additional business scope to be covered or if you are in different time zones with your partner having one that is very flexible with their available times will help you conduct your business.
As for the conclusion, if you are looking to outsource some of your operations or thinking of having an outsourcing partner, these are the main points to be considered before or while choosing a partner to ensure a great outcome.