Outsourcing services from a firm can be an overwhelming experience however by asking the right questions and picking the ideal firm, you can get a lot of value for your money and time. Here are some guiding questions to help you identify the ideal firm to partner with.
1) Do your business needs match the experience and services the firm is offering?
The aim of outsourcing services is to let the experts take charge so you can focus on other areas of the business and save operational dollars. It is therefore important to seek firms that have the expertise in the areas you want to outsource.
2) How are the services the firm is offering better than your in-house service?
It is always good to compare in-house service versus outsourcing in terms of costs, efficiency and proficiency as well as to decide whether outsourcing efforts will improve the company’s profit margins.
A good step in this direction could be calculating your operational savings.
3) Who is your key contact in the firm and what strategy is in place in case the key contact is no longer available?
Continuity is important when running a business even when faced with change, therefore it is essential to know the strategy in place in case the key contact is no longer available to work on the project.
4) Are the financial and performance projections genuine?
Managing expectations helps build credibility in a business relationship, so analysing the financial and performance projections the firm is giving will create trust if the projections are genuine.
5) Are their methods of delivery consistent with the culture of the Company?
A good working relationship is achievable if there is an understanding between the company and the vendor especially when it comes to delivering the service in the time frame and method as promised.
6) What is the exit strategy in case there is a change in the outsourced firm?
It is important to have the flexibility to terminate the contract in case there is a change in the firm that might have a significant repercussion on the company’s operations.
