You are already aware of the havoc caused by the COVID-19 virus outbreak throughout the world. But did you know the economic downturn we are seeing as a result of this global pandemic could get even worse in times to come – perhaps worse than the 2008 financial crisis as many financial experts claim. In fact, the leaders at the UN believe it could cost the global economy over $2 trillion.
The situation demands business owners to take some major decisions regarding their day-to-day business operations, if they are serious about staying afloat in these uncertain times.
In this article, we share the top five reasons why now is the best time for finding a reliable outsourcing partner for your company.
Reason #1: There’s No Reason to Turn Down Significant Cost Savings
The hiring of experienced on-site staff for IT operations and retaining them is a costly affair for most businesses, with salaries of IT professionals ranging from $41,730 up to $129,909 per year, depending on their skills sets and the job description. Having a reliable IT infrastructure requires a sizeable investment of business resources on a regular basis too. But what could be better than to avoid all these cost overheads by simply leveraging the opportunities available for IT outsourcing in India?
Reason #2: Plenty of Attractive Partnership Opportunities Are Available
Given the recent drop in global business and trade, an increasing number of IT service providers are eager to get more business. As a result, many of them will offer attractive cost savings to new clients. This is why many businesses will pick an offshore IT company in India over any other country in order to take advantage of the skilled labor available at a cheaper cost base.
Reason #3: Optimising Your Revenue Cycle is Now More Crucial Than Ever
By working with some of the best software outsourcing firms, it becomes easier to optimize your company’s cash-flow, direct your funds to where they are required the most, and even eliminate bad debt in the long term. Doing this has never been as critical as in today’s challenging business environment!
Reason #4: Work Efficiency and Productivity Doesn’t Have to Suffer
If a company decides to fire the low-level employees in the event of a recession or economic downturn, the low-value tasks, unfortunately, need to be handled by the senior employees. This hampers their productivity at best, which is something that should be avoided at all costs. Therefore outsourcing stands out as the perfect solution for this problem, especially for small and mid-sized organizations.
Reason #5: To Avoid Overworking and Work-related Stress
If there’s one thing that employees dread the most, other than getting fired, of course, is too much workload. Work-related stress is never good for employees’ productivity in general, and even more so in times of public crisis. This makes outsourcing your IT needs your best bet against improving the performance of employees and ensuring your business sails through smoothly during these times of turbulence.
According to business coach Michael Hyatt, 45% of entrepreneurs are stressed.
How to Best Survive the Looming Economic Downturn
At BorderlessMind, we are helping many smart businesses not only survive this economic hardship but also thrive in the near future. We hire some of the best IT talent that the industry has to offer, which is what makes BorderlessMind stand out from other offshore IT companies in India.
Be it software application development, regular maintenance of the IT infrastructure, or cloud engineers, you can count on us! Working together, we can become more nimble, competitive, and globally-integrated – which is exactly the need of the hour! TRY BORDERLESSMIND FOR ONE WEEK RISK FREE!