- Outsourcing enables growth
The United Arab Emirates (UAE) has seen the increased emergence of growth orientated businesses; therefore complacency is no longer an option, especially in an ever changing and competitive market.
In order to remain competitive, it is essential to have manageable operating costs. Many businesses are facing common challenges including:
- high operating costs
- an increased need to focus on risk and compliance
- complexities of business processes
- required investment in technology
- need for training and retaining staff
Ongoing operational challenges can often deter the focus away from the strategic direction, which impacts the growth and profit potential.
With this in mind, outsourcing has emerged as a solution to address such time consuming challenges, whilst further promoting productivity in the workplace and throughout the business. Outsourcing introduces efficient and cost-effective delivery models in order to ensure that stakeholders can remain focused on strategic growth. The impact of this is being directly felt in the segments that outsourcing companies are able to address.
Research has suggested that outsourcing is emerging as a favorable option for the majority of companies who want to focus on growth and development, ranging from small to large businesses.
In a business environment which is competitive and complex it is essential to ensure compliance and accuracy at each business process stage. Failure to do so will result in:
- inefficient productivity;
- monetary loss,
- complex business processes
- demotivated staff
- retention issues
Therefore, more so than ever before business process outsourcing is fast becoming the only solution to cutting through complexity and addressing daily challenges, in order to transform them into efficient, high performing and compliant processes.
Often businesses spend a huge amount of time on monotonous tasks, which could be better solved with business process outsourcing specialism. This allows businesses to ensure productivity whilst introducing and endorsing internationally renowned and approved working models that are tailored for their business.
Global research from the International business report highlighted that one of the biggest constraints on growth was the lack of skilled workforce and access to labour in the UAE. Through adopting business process outsourcing models and methods, these issues can be avoided as specialist teams provide meaningful advice to support and encourage growth.
Business process outsourcing is being seen as a productive method of ensuring business efficiency and development. It often leads to staff satisfaction, as the day to day operational elements of the business are taken care of and become more efficient over time.
Atul Varma, Head of Business Process Outsourcing at Grant Thornton UAE explains “that in order to be efficient, competitive and respond to the ever changing global market, businesses need to focus on growth strategies, develop and implement effective models which will reduce complexity, ensure compliance and support them to grow.”