Technology is evolving and advancing every day, today it has become a very common practice to work with external vendors to process various business activities, starting with operational things like payroll, inventory management, content development, or hiring through an employment agency to business processes management.
It is a practice that is becoming more and more widespread that allows companies of all sizes to do their business and grow without major risk or investment when it’s done correctly.
What Is Outsourcing?
Outsourcing is the business practice of hiring a party outside a company to perform services or create goods traditionally performed in-house by the company’s employees and staff. Companies typically engage in outsourcing as a cost-cutting strategy. As a result, it may have an impact on a variety of occupations, including customer service, manufacturing, and back office work.
The practice of outsourcing is subject to considerable controversy in many countries. According to the Grand view research, the global IT outsourcing market size was estimated at $245.91 billion in 2021 and is expected to reach $261.9 billion in 2022.
Businesses of all sizes and from a variety of sectors are becoming more aware of outsourcing techniques. The argument put up by those opposing is that it has led to the loss of domestic employment, notably in the manufacturing industry. Supporters claim outsourcing encourages organizations to focus resources where they are most useful and preserves the principles of free market economies on a global scale.
Outsourced IT Services
Outsourced IT services are contracted IT services delivered directly to the customer. They are responsible for the upkeep and preventative maintenance of your IT infrastructure.
In addition, they also provide onsite and helpdesk support as agreed upon in a service contract. These services can be utilized as a full-scale IT department or to supplement an already existing IT team to enable them to focus on larger-scale company concerns.
Here are some IT services that are commonly outsourced.
- Application Development
- Application Maintenance & Support
- Data Center Operations
- Database Administration
- Desktop Support
- Disaster Recovery
- Help Desk Outsourcing
- It Security
- Network Operations
- Web Hosting & Operations
Covid-19 is an event that changes a lot of lives and businesses. It has influenced the outsourcing sphere and brought new IT outsourcing trends. Due to Covid-19 in 2020 many businesses started to use remote work and move their offices from Silicon Valley to less expensive regions, like Texas.
To save time and money which usually garner all the attention, outsourcing certain operational functions allow access to the latest technology and systems and best-practices in certain activities. Although most businesses may not have the option of investing in the newest technology due to its predicted exponential growth and disruption in the upcoming years, outsourcing will provide them access to the most up-to-date technology, allowing them to remain competitive and relevant.
Businesses now confront a constantly changing environment, including legislative changes, ongoing technological advancements, and the adoption of more sophisticated tactics by authorities, in addition to COVID-19. Businesses are having to reevaluate the best combination of internal and external resources to manage crucial operational processes with visibility, flexibility, transparency, and control as a result of these problems.
In the end, outsourcing has several advantages for business owners. The method enables them to assemble a group of experts without incurring additional costs of full-time employees, new office space, or equipment. With the help of outsourcing, senior management and business owners may concentrate their efforts on the core capabilities of their organization and devote more time to developing new objectives and figuring out how to reach them.
Remote Work and Cybersecurity
Nowadays, companies are forced to work remotely and lack proper cybersecurity expertise. The world economic forum claims that by the end of 2022, the number of permanent remote workers will double. Just like many other high-income industries, after the covid-19 pandemic, IT departments have turned to remote work. And this trend is expected to become one of the long-lasting IT outsourcing trends.
Additionally, Experts estimate that the personal data stolen from social media users is worth $630 million a year. This means that the need for cybersecurity is more relevant than ever. As technology permeates more of our lives, companies need more cyber experts to help the organization get the protection they need in their full-on shift to the digital realm, just in case we accidentally leave backdoors or windows that can cause damage.
Today the main IT outsourcing trends are the following: the competition in the IT sphere grows and IT companies should provide quality services to support growth, advance technologies, and meet customer expectations. Genesis 360 provides IT and cyber security experts that will protect your organization while helping to meet organizational objectives.
Why Work with Genesis 360?
Genesis 360 provides a full range of IT services to ensure our customers and theirs are always protected, providing everything from email support to cloud backup services and everything in between. We provide advanced Cyber Security Services and the latest network monitoring and firewall technologies. We ensure your data is protected from hacker agents trying to gain unauthorized access to your system through various methods of cyber-attacks.
Genesis 360’s IT Division delivers excellence by providing a team with diverse and comprehensive skillsets to deliver on time and within budget with minimal internal human resource utilization.
Here’s a list of ways Genesis 360 can allow you to safely add value to your organization through Information Technology.
- Cloud Services
- Data and Contact Center Operations‑
- Data Life Cycle and Analytics
- Network & Communications
- Websites and Portals
- Custom Web-based and Mobile Apps
- Content Management
- GIS/GPS Solutions
- Digital Transformation
- Process Automation
- Managed Services
- IT Modernization
For more information Visit: https://genesis360.stratinuity.com/
Pissarides, Kikis. “Outsourcing Relevancy in a Post Covid-19 Environment.” Deloitte Cyprus, 24 Aug. 2020, www2.deloitte.com/cy/en/pages/tax/articles/outsourcing_relevancy_post_covid19_environment.html. Accessed 27 Nov. 2022
Twin, Alexandra. “Outsourcing: How It Works in Business, with Examples.” Investopedia, 2022, www.investopedia.com/terms/o/outsourcing.asp. Accessed 27 Nov. 2022.
Article Written By Martine Benimana and Edited and Reviewed By Deshina Buck of Stratinuity LLC