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CORPORATE > OUTSOURCING CONSULTING
Outsourcing is a strategic means to reduce costs, maximise savings, achieve operational and business efficiencies, gain access to outside expertise, technology and increase market share and penetration. It however can be a daunting task to arrive at the critical factors of should, what, when and how of outsourcing. Corporate houses, law firms etc. are increasingly relying on innovation to spearhead growth, but several factors constrain successful execution of these growth strategies.
More than half of the offshore outsourcing initiatives fail to meet agreement performance targets, according to a three-year study of 90 offshore initiatives. Studies have found that poor supplier relationship management was a main reason.
At LexVantage, we not only make our clients’ search for vendors easy but also consult them on the critical factors of outsourcing. Invariably, the latter comes a long way before the former. LexVantage believes that overcoming the constraints on strategy execution depends on a Consultative Approach in strands of work that form part of an integrated transformation effort to achieve the benefits of Outsourcing.
We consult our clients in deciding:
Should of Outsourcing:
· Assist clients identify the benefits of outsourcing in strengthening internal business processes like - freeing up time for core activities, increasing productivity, gaining competitive advantages, flexibility in business, turning fixed costs into variable and equip them to adapt to market changes.
· Assist to keep in check your ROI (rate of investment) with various vendors who provide an ROI calculator.
· Analyse the use of scarce in-house resources on time sensitive cases and benefits from the provider’s extensive investment in infrastructure, technology and people.
What of Outsourcing:
· Create a transparent relationship with our clients, thereby furnishing them with information on the supply market in terms of competencies, cost, quality etc.
· Identify a client’s potential areas of outsourcing with respect to demand from the supply side.
· Establish the processes and technologies by which innovations can be identified and linked to growth strategies.
When of Outsourcing:
· Accurate consulting to assist our clients to decide how they can save costs by outsourcing routine work and non-core activities which take more time and money when handled in-house.
· Help them set and measure financial, productivity/performance, resource and relationship/process goals and effects of the forthcoming outsourcing relationship that can be infused in the overall organisational success.
How of Outsourcing:
· Assist our clients in realising the benefits of having a Pivotal Provider to ensure smooth execution and management of their projects.
· Ensuring and sharing with them the mechanisms of selecting an outsourcing partner and the intricacies involved.
· Consulting them on the contents of outsourcing contracts with our vendors for Service Level Agreements (SLAs), smooth transition or migration of processes and planning a clear exit strategy.
· Consulting them on the latest changes in the outsourcing world and implementing a learning curve with the vendors for better results.
· Institutionalize multi-sourcing as the operational model by applying a sourcing management team, developing integrated management processes with vendors and selecting performance measurements and metrics to make multi-sourcing a part of the client’s corporate fabric.