Right-sourcing is a business strategy that involves determining the most appropriate source of talent for a company's various business objectives and functions. This includes deciding whether to perform a specific task in-house, outsource it to a third-party vendor, or use a combination of both.
The importance of right-sourcing for companies lies in its ability to optimize the use of resources while maintaining high levels of efficiency and effectiveness. By choosing the right source for each business function, companies can reduce costs, improve quality, and increase agility, while gaining access to specialized expertise and knowledge that may not be available in-house.
At SolvedAF, we have a 4-step methodology to ensure successful implementation of the right-sourcing model:
Discovery & Planning
Understand your objectives and initiatives, and related pain points and talent gaps
Develop a strategic roadmap and project plan
Determine a right sourcing strategy aligned with company culture
Select vetted onshore and/or offshore vendor partner(s) that fit best
Negotiate the scope of work and contract
Assess the resource allocation to ensure effectiveness
Prepare an onboarding plan, including objectives, project plan, and stakeholder alignment
Train on new systems and SOPs
Ongoing training and knowledge refreshers
Pilot testing of new programs and technologies
Regular process monitoring
Finalized dashboards and evaluation matrices
Regular communication with stakeholders
Regular meetings with operational teams and leadership
Implementation of measures to improve feedback
Benefits of Right-Sourcing
Right-sourcing can help companies reduce costs by outsourcing non-core activities to external providers who have the expertise and resources to perform these functions more efficiently and cost-effectively.
Access to Specialized Expertise
Outsourcing certain functions to specialized providers allows companies to access a wider range of expertise and skills that may not be available internally.
Right-sourcing enables companies to scale up or down their workforce and resources as needed, allowing for greater flexibility in response to changing market conditions.
By outsourcing certain functions to specialized providers, companies can often achieve higher quality output and faster turnaround times, leading to greater customer satisfaction.
Why Choose SolvedAF for Offshore Outsourcing?
We have leveraged decades of experience and best practices to select the right vendor partners to deliver a broad range of business process, risk management and technology services. Our partners are mid-to-large organizations with a strong reputation and methodologies.
Each of our vendor partner has a large, qualified talent pool of 250 to 1000 people, allowing you to scale a dedicated in-house team or managed services.
Enhance your coverage and quality due to the time difference and quality monitoring.
Achieve cost savings of up to 70% in recruiting, compensation, benefits, employment insurance, and other employee-related costs.