An astonishing 66% of US companies outsource at least one department or function. As businesses look for ways to increase efficiency and profit margins, outsourcing specific roles to nearshore locations is the way to go.
This can be especially beneficial during times of economic uncertainty, as companies are able to work with experts in different parts of the world without having to make costly investments.
From software development and customer service to digital marketing, the benefits of utilizing nearshore solutions are immense. With careful consideration, you can select the right candidates for your organization and see a significant improvement in operational costs while maintaining top-notch quality.
Let’s look at what roles are best suited for nearshore outsourcing.
What is Outsourcing?
Outsourcing is a business strategy in which businesses hire outside suppliers or contractors to perform traditionally in-house services. It allows your business to scale up or down as needed, leverage unique skill sets, gain access to global talent pools and reduce labor costs. When done properly, it incentivizes businesses to distribute resources where they are most effective, helping them gain a competitive advantage.
What are the Types of Outsourcing?
Outsourcing is a common practice for business owners. It allows you to focus on core competencies while taking advantage of the expertise, skills, and resources of third-party providers with specialized knowledge.
There are many considerations when choosing what type of outsourcing to employ for business success, from exact roles, business objectives, customer demands, and quality of services. Let’s explore the three types of outsourcing: onshoring, offshoring, and nearshoring.
Onshoring is the practice of outsourcing services to a professional based in your own country. This type of outsourcing offers more ease in communication due to shared language and timezone but can be the most costly arrangement.
Offshoring is popular with tech companies and refers to hiring outsourced providers located outside of your home country. From maintaining day tasks to alleviating the burden on your in-house resources, this allows you to take advantage of lower labor and operational costs overseas while accessing talented international professionals.
One of the biggest advantages of offshoring is increased flexibility and scalability. However, on a broader level, there may be less control over the quality of service or product.
Nearshoring (also known as nearshore outsourcing) is the practice of outsourcing services to a professional located in another country that is geographically close to your own. This outsourcing strategy provides access to cheaper labor costs, faster communication, and cultural similarities with minimal language barrier issues.
Nearshoring is ideal for businesses looking for an efficient and reliable outsourcing partner that delivers quality services. Near is a nearshoring platform that helps businesses like yours find, hire, and retain top talents from Latin America while saving you time and money.
Why You Should Outsource Business Roles
To help you understand if outsourcing is the right call for your business, let’s look at the top reasons why companies of all sizes decide to do it.
Find and hire experts from different industries.
With the ability to find and hire experts from different industries, you can fill specific needs quickly and cost-effectively.
Whether you need additional services with an IT project, marketing campaign, or financial analysis, you’ll be able to find experienced professionals who can provide specialized support. With a wide range of talents and remote foreign employees, you are better equipped to handle projects you may not have the internal resources or expertise to complete.
Save valuable time and resources.
Outsourcing can be a great way to help your business grow while reducing costs associated with hiring and training new employees. Outsourcing certain roles saves valuable resources and supply chain activities.
You can also benefit from lower salary rates as outsourced workers are usually paid on a per-project basis. This allows you to extend cash cycles and bypass training expenses, as the outsourced team already has the skills and knowledge required to complete the job.
You can also easily expand your workforce without having to hire additional full-time employees, allowing you to scale when needed.
Take advantage of external skills and experiences.
Outsourcing is an excellent way to access advanced level skills and experiences to help grow your business. Outsourcing can be the answer whether you’re looking for an expert in a certain field or need help with a specific project.
By outsourcing tasks that might take up too much of your time or require specialized knowledge, you can free up time that can be devoted to more important areas of your business. The result is a greater focus on core functions and the potential for increased profit margins.
What are the Most Common Roles to Outsource?
Knowing what roles are best suited for outsourcing can be difficult, but understanding the most common business roles to outsource can help you make better decisions. Here, we will explore what functions are usually outsourced and what implications this may have on your business.
1. Digital Marketer
A digital marketer plays a vital role in any business. The primary responsibility of a digital marketer is to analyze data from online sources and create campaigns that will reach the target audience. This includes creating content that will be shared on social media, running ads on search engines and other websites, and using email campaigns to reach out to potential customers.
2. Human Resources
You may outsource HR roles such as workforce management, payroll processing, employee benefits administration, recruitment and selection processes, risk and compliance management, training and development, and other related activities. Make sure that the outsourced service provider is familiar with the types of industry and business practices in your region.
HR service providers do more than just lighten the administrative workload. In many ways, they’re strategic partners that can propel your business forward.
3. Virtual Assistant
Outsourcing specific roles to a Virtual Assistant (VA) can save your business time and money and increase productivity. VAs come with many different skill sets that could be beneficial. Depending on the size of your business and its needs, a VA could provide services varying from customer service to graphic design.
One of the most common roles for a VA is customer service. VAs are well-versed in providing customers with helpful responses to their inquiries and effectively resolving any issues that arise. With their expertise, VAs can quickly handle customer requests or complaints, giving you more time to focus on other important tasks.
4. Executive Assistant
Outsourcing an Executive Assistant (EA) can be a great way to reduce administrative costs and improve efficiency in your business while also providing extra resources to focus on the core goals of your organization.
With an EA, you can benefit from experienced and knowledgeable staff equipped to handle a wide range of tasks, such as incoming emails, scheduling meetings, taking notes, planning events, and providing customer service. They can also take on more challenging roles, such as preparing reports, developing strategies for growth, and managing vendor relationships.
5. Customer Support
Customer service is the backbone of a business. Having a team of experienced customer service professionals can ensure that your customers have access to the best possible service. This includes providing timely responses to inquiries, resolving disputes and complaints quickly, and offering helpful advice on how products or services could be improved.
Additionally, they will be able to handle a wide variety of questions and can help customers navigate your website or service with ease. This will create an excellent customer experience, essential for repeat business and keeping loyal customers.
Outsourced accountants can help your business in many ways. They can provide guidance on financial decisions, review and analyze financial statements, provide tax planning advice, create budgets and forecasts, and set up accounting systems. They can also assist with compliance issues such as filing taxes and payroll regulations.
In addition, they may offer consulting services to help develop business strategies that increase profitability and reduce costs. Their experience can help you to understand your financial position better, identify areas of improvement, and make more financially sound decisions.
7. Financial Analyst
Companies often do not have the resources or expertise to manage their financial analysis in-house. In this case, an outsourced financial analyst can help identify cost savings, assess capital investments, and create financial models that aid decision-making.
Financial analysts have the expertise to provide strategic planning and budgeting, assess financial performance, identify risks and opportunities, and develop long-term strategies. They can also create cash flow projections, analyze pricing strategies, review capital investments, design cost reduction techniques, recommend process improvements, and advise on stock buyback programs.
8. Content Writer
Outsourced content writers can take on various roles that can help your business in many ways. They can create quality content such as blogs, articles, social media posts, and website copy. This type of content is essential for building brand awareness and engaging customers.
Content writers can also create visuals, such as infographics or videos, to supplement the written content. Additionally, they can help research keywords and analyze data to gain insights that will help shape future content strategies.
9. SEO Specialist
Outsourcing SEO tasks to an experienced specialist is an excellent way for your business to increase its online presence and maximize search engine visibility. A skilled SEO specialist can help boost your website's ranking on Google and other major search engines, making it easier for potential customers to find you.
They can also provide valuable insights into how your site performs compared to your competitors and suggest improvements to help you stay ahead.
An SEO specialist's main tasks for your business include keyword research, content optimization, link building, technical website audits and analysis, competitor analysis, local SEO promotion, social media promotion, and more.
10. Graphic Designer
Outsourcing a graphic designer can offer you the opportunity to have access to quality design without the overhead costs of having an in-house team. A skilled designer can bring creativity and experience to any project, helping it stand out from competitors. They also often come with a network of contacts that could be beneficial for finding suppliers or other professionals to help with a project.
Graphic designers can create custom logos and business cards, create flyers and brochures for events or marketing campaigns, design websites, create illustrations and animations for digital projects, develop packaging designs, and even manage entire branding projects.
11. Software Developer (Front-End, Back-End, Full Stack)
Software developers play an essential role in any business that utilizes technology. They are responsible for creating, maintaining, and improving a wide range of applications and programs companies use to perform tasks such as managing data, processing customer orders, or providing access to the internet.
Outsourcing software developers can be a great way to get the help you need without investing in an internal team.
Outsourced bookkeepers can play a vital role in helping your business to stay on top of your finances and ensure that your books are up-to-date. They can help with the day-to-day management of finances, including:
- Recording daily financial transactions;
- Reconciling bank accounts and credit card statements;
- Handling accounts payable and receivable;
- Preparing monthly financial reports;
- Assisting with budgeting and forecasting; and
- Completing required tax filings.
13. Business Development Representative (BDR)
Business Development Representatives (BDRs) play an integral role in the growth of businesses. By leveraging their skills and expertise, they can help you reach your sales goals quickly and efficiently. Outsourcing BDRs allows you to benefit from experienced professionals without incurring the cost associated with hiring full-time employees.
Outsourced BDRs are responsible for generating and handling leads and improving conversion rates. They will research potential customers, create lists of contacts, and contact them to initiate the sales process. BDRs also manage customer relationships, set up meetings, provide follow-up calls, send emails, and more.
14. Sales Development Representative (SDR)
Outsourcing Sales Development Representatives (SDRs) can provide a valuable means of supplementing an existing sales team or replacing it altogether.
SDRs are tasked with prospecting potential clients, typically through cold-call outreach and qualifying them for sales opportunities. This process often involves researching your organization’s needs, understanding its competitive landscape, crafting a compelling value proposition, and engaging prospects to initiate conversations that can ultimately lead to an initial sale.
Nearshoring to LatAm countries can be an excellent option for US companies to outsource certain roles and processes. It offers the perfect balance of cost savings, access to talent, and cultural compatibility that is difficult to find elsewhere. By leaning on nearshore outsourcing partners, your business can maximize its resources and unleash the full potential of its operations.
Are you ready to look for talent who can fill the openings in your company? Schedule a complimentary consultation with Near to get started.