Caution when outsourcing key for advice firms

According to Virtual Business Partners (VBP), more Australian advice firms are looking to outsource their business processes due to a shortage in local partners, but it is important to find the right partner.

VBP chief executive David Carney said the first step to finding the right partner for your business is firing up your laptop and researching.

“There is a lot of information about outsourcing firms that can be found by researching on Google,” Mr Carney said.

“Some helpful indicators to consider include whether the partner has a good website with appropriate domain authority.

“You should also find out whether they have a suitable digital footprint of their company when you search them online. For this check, look at LinkedIn, Glassdoor, Facebook, and any other reputable third-party sources that pop up in a Google search.”

Mr Carney said that once you find a few business process outsourcing (BPOs) partners and have contacted them, monitor the speed and quality of their responses.

“When you talk to a BPO, they must demonstrate good, responsive turnaround time and processes when responding to your initial inquiry, and have a deeper understanding of your business need,” he said.

“Also determine whether they answer more complex questions competently and whether they openly share information about the company, such as size, years in business, and specialties.”

According to Mr Carney, the discussion of needs with BPOs should cut the list down to those that are consultative.

“You should have conversations with people who can understand your requirements and advise you accordingly. Their advice should be valuable and insightful. The pricing model should be clear and concise,” he said.

“A call is also much more powerful than a templated email response, an RFP or PDF proposal. So, feel free to get on the phone or Zoom call.”

Lastly, he noted that deciding on a BPO comes down to the partner that best suits your needs.

“It can be highly educational to speak to a few outsourcing firms about what they do and how they do it,” Mr Carney said.

“However, be mindful that these BPOs are ultimately all trying to sell you so a certain amount of their insight and advice might be angled to their benefit.”