Ever since the WHO announced COVID-19 as a pandemic in March 2020, there has been strict regional lockdowns, social distancing norms, and restriction of movement across national and international boundaries. This scenario has changed the way businesses operate by emphasizing on virtual models rather than direct interaction between the company officials. The ‘new reality’ offers tremendous opportunities for organizations to reconsider their current operational arrangement and adapt to outsourcing. As the ‘new normal’ focuses on remote working, outsourcing can ensure business continuity, disaster recovery, reduced cost, regulatory compliance, and a lot more.
With the current situation of economic uncertainty, damage recovery, and increasing fear of second and third COVID wave, establishments across the world are considering outsourcing to regain momentum and increase business resilience. Outsourcing is gaining popularity amidst COVID-19 as it helps in reducing cost, increase work efficiency, focus on core business areas, access to skilled workforce, and so on. With the increasing focus on the outsourcing industry, it is expected to bloom significantly in the post-COVID era.
Why to outsource during COVID-19?
As the effect of the virus is taking the world by its side, companies are striving hard to recover from the economic damage they have experienced. In this scenario, companies are moving towards ‘outsourcing’ approach to leverage their niche skills, incorporate new ideas, and cut operational and infrastructural cost. Outsourcing helps companies adapt to the highly dynamic market, especially during the unpredictable scenarios after the onset of COVID-19 pandemic.
Outsourcing has been around for many decades, but it had not witnessed a significant growth as it did after the beginning of the pandemic. Outsourcing has become the main strategy for many companies to mitigate disaster and reduce the long-term impact of the virus on the business operations.
Reasons for companies to choose outsourcing services during pandemic:
Reduced cost: The COVID-19 has already put business in a tough place of financial strain, it might take even a couple of years for the companies to overcome the financial loss and operate as usual. Outsourcing is a feasible option to save money as it is most affordable than hiring an in-house resource.
Focus on core business activities: The pandemic has already put companies in stringent use of finances and manpower to keep up and running. This situation has put the organizations in strain, creating scenarios that can move the focus away from the core business. By outsourcing, the regular business will move forward as expected without any hitches, while giving enough time and energy to focus on the core business and re-strategize the operations.
Skilled resources: By creating a partnership with the outsourcing firms, businesses get access to their niche skills, which can, in turn, help the organizations with better quality service.
Eliminating the hassle of onboarding process: Finding and onboarding a new resource can be a tedious task during the pandemic situation. Though digital onboarding processes are available, it is difficult to find the suitable resource with the required skillset. Hence, outsourcing your services is the best possible alternative.
Customer satisfaction: When an organization outsources its services, it can be sure of receiving a higher quality outcome within the estimated time, thereby, delivering uninterrupted services to its own customers. This whole scenario will lead to happy end-users as they are receiving continual services even during the lockdown period.
Therefore, it is a wise move by companies to adapt to the outsourcing strategy to maintain service quality and business continuity. This will help the organizations to fill in the operational and infrastructural gaps and continue to serve their customers with good quality work.
Top outsourced jobs during COVID include:
- IT services
- Software testing/ test outsourcing
- Banking outsourcing/ Banking BPO
- Call center
- Social media management
- Website management
- Data conversion
- Inventory management
- Accounting and bookkeeping
How to evaluate outsourcing partner during COVID-19?
Though ‘outsourcing’ is a buzzword across all industries with many companies preferring outsourcing services for improved quality and reduced cost, the trend is changing in the post COVID era. The traditional outsourcing models have faded, and companies are creating new strategies to establish collaboration for outsourcing. Here are some of the plans that companies should consider for making an outsourcing collaboration during COVID-19 or even during normal scenario:
Look for reputed companies with good reviews: When backed by a team from the most reputed company, the organization can be sure to have business continuity even during unexpected events.
Good communication and workflow systems: Good communication can avoid any kind of misunderstanding that can give wrong outputs, saving money, time, and energy. The same is true in case of the workflow systems too; a well-designed and self-explanatory workflow systems can prevent any confusion between both the parties.
Cybersecurity is the priority: In the COVID-19 pandemic situation where businesses are moving to digital platforms, cybersecurity is of utmost importance. Choose the partner who has a modern and completely secured system that offers detailed protocols for keeping all data and software products safe.
Experience: Experience of the outsourcing company is a requirement for creating reliability. More the experience, better they can handle different scenarios, thereby, helping you achieve your goal.
A complete range of services: It is always recommended to opt for a service provider who can offer a complete range of services you are looking for. In this way, the complete work is handled by one party rather than having multiple partners. This will reduce hassle, time, and confusion.
Yethi, your outsourcing partner for test automation solution
Yethi is your go-to partner helping you with testing automation solution for banking and financial software. We understand the challenges that lay ahead of testing in the banking/financial software, therefore, offering a perfectly designed QA solution. Yethi’s Tenjin is a revolutionary test automation platform that is diminishing operational, financial, and reputational hazards with end-to-end business process authentication. It focuses on increasing the agility, consistency, and accuracy of the organization’s core software system. COVID-19 hit globally when already Yethi had bagged a couple of projects worldwide. With the pandemic came restrictions in travel; the major challenge during this phase was to execute, manage and monitor the testing projects remotely. Our team consisting of 300+ QA specialists put together with their experience and expertise an exemplary task of carrying out the entire project remotely without having to travel to the onsite location. Our solution and services involved test execution, test management, and defect management at various stages to ensure accurate test results with great performance. Not just we have delivered the project on time, our support team made sure that our clients do not face any technical glitches at their end. Our deployed product at the front end continued to produce most accurate and consistent results.