Today in the emerging markets because of market instability and sometimes inaccurate market forecast, there is always a level of risks involved in investments and other business-related operations. In view of these, the approach and manner in which companies have expanded their mode of operation have changed over the years.
Companies instead of taking direct risks investments have opted to adopt the model of outsourcing, where basically all non-core business activities such as payroll, accounting, importation and distribution search are outsourced to competent and professional service providers thereby reducing expenses, time taken to execute projects, increase in flexibility of operation mode and acquisition of additional competencies.
It is very important that individuals, stakeholders, and companies out there to know that this is the new modus operandi of companies venturing into emerging business markets. Marlissa Dessy, The Director of Emerhub LLC had this to say “When companies expand to emerging markets, they tend to burn a lot of money in the first few years. Outsourced operation model allows companies to focus on what they are already good at – developing and/or selling their services and product – and leave everything else to a professional service provider. It makes emerging markets accessible to companies of all sizes as the monthly cost of outsourced operations model is often lower than a business class flight ticket between New York City and Singapore.”
One of the way companies have been expanding their operation is in the aspect of accounting and payroll management. Accounting and payroll is time-consuming and most importantly, regulations and restrictions vary per region so it has to be done by individuals who are familiar and acquainted with the due process and as such it is best that things like these should be outsourced in other to get best and effective result. Emerhub provides all business operations outsourcing and is very good at staff augmentation which is an outsourcing strategy used to staff a particular project. This strategy involves using staffs in the local and immediate environment, this makes sure that there are low risks of any complication that might want to arise such as segregation or vandalism, this also eliminates the headache of having to spend extra on time and money to have a competent and reliable work team.
When it comes to the production of local contents, it is integral to outsource some of the operations due to a lot of factors such as language barrier, familiarity with existing infrastructures and easy access to local distributors. Most importantly there are some services that need to be done as soon as possible but doesn’t require a full-time employee on them, they are sometimes known as a one-time job and the best possible way to handle such situation is to outsource such job. Companies are advised to outsource some part of their business operations to professionals and this will save the company a whole lot in terms of capital and time which can be in turn diverted to other parts of the business that needs it the most.