Its a wise decision that I stay at my company because I am still here for almost 4 years
Pros
Reduced administrative costs. When you outsource business processes, you’re also outsourcing much of the administrative tasks for those processes. Focus internal resources on core business activities. You can stop spending company resources on tasks than anyone could handle and focus on what makes your business unique. Save on infrastructure, workforce, and technology costs. You no longer have to maintain in-house space for outsourced processes, pay employees to work in those departments, or upgrade your own technology. Improves your business’s overall efficiency. Employees can now focus the time they would have spent completing routine business processes on completing core business activities more efficiently. That will also increase your productivity. Gain access to specialized skills. Rather than hiring specialists in several different areas, you simply outsource tasks like accounts payable and document management to a group of specialists. Provide job opportunities. Though outsourcing means your company might not need as many employees, you are still providing jobs through the company you hire to handle your business processes. Scale resources quickly. If your business is rapidly growing, outsourcing allows you to upgrade your processing quickly without the hassle that would be involved with expanding an in-house department.
Cons
Security risks. When you outsource business processes, you’re trusting another company with your sensitive information. Make sure the company you choose has a good reputation and top-notch security. Requires time to plan. While it’s very easy to implement BPO, taking the time to plan and prepare your company for the change will pay-off in the long run. Adjustment period for employees. Relying on an outside company instead of an in-house department for certain business processes can take some adjustment for your employees. Especially if outsourcing also means you’ll be downsizing your workforce. Hidden costs. This shouldn’t become an issue if you read the contract carefully. Just make sure you take the time to go over the contract and know what you’re signing up for.