Avoid,Common,Outsourcing,Mista business, insurance Avoid Common Outsourcing Mistakes Through Best Practices
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Outsourcing is a powerful business strategy, if usedappropriately and executed properly. Yet, some firms continue to under-performin their outsourcing endeavors.Fortunately, this is a management strategythat has been around for many years and a solid list of best practices isavailable. Here is my list of eight important best practices:1. ManagementCommitment the management teammust have clear goals that are tied to overall business strategy, understandthat discipline is required, and be willing to make difficult decisions.Management must dedicate high performing managers to lead and manage theoutsourcing effort.2. ManagementAwareness the management teammust not underestimate the time and effort required to outsource successfully.They must be very clear about the scope and expectations of the outsourcingeffort and establish well defined and realistic metrics. Timelines need to berealistic.3. ManagementCommunications management mustcommunicate with all stakeholders to facilitate change management. Managementmust clarify the purpose, players, milestones and report progress regularly. Anopen management style, where restraints and objections are considered, willhelp facilitate a smooth transition.4. Risk Management a risk assessment and mitigation plan isnecessary, just like any other change effort. Consider risks across four areas:strategic risk, operational risk, technology/security risk and financial risk.Assess your readiness before proceeding. Have a viable exit strategy.5. Appropriate DueDiligence invest in the effortto choose the right partner. Four critical areas to consider include:Company profile business stability, service offerings, business model, flexibilityPeople quality ofresources (especially management), performance management methods,recruiting/hiring, scalability, retentionProcesses qualityapproach and certifications, IP and physical security, governance processesTechnology applications, infrastructure, software, network security/reliability6. Focus on value, notsimply cost. Do not overemphasizelabor costs; look at the complete picture. Understand the suppliers reputationfor work quality and client satisfaction, quality of the management team, howyour resources will be recruited and managed, opportunities for process andproductivity improvements, and so forth. Many outsourcing managers have beendisappointed, or worse, by overlooking the importance of the overall value.7. Build a businesspartnership relationship start by negotiatingin good faith and seeking win-win solutions. Be flexible and constructive,especially during the initial project launch and transition. Expect continuousimprovements from both your team and your partner. Establish principles thatwill guide your relationship.8. Invest in the Relationship place significant emphasis on developing thevendor relationship. Take time to know your partner and appreciate culturaldifferences when dealing with off-shore firms.I have never seen an outsourcing project failwhen these best practices are followed. What are your experiences?
Avoid,Common,Outsourcing,Mista