Being a business analyst means to keep looking at effective ideas to counter any tough situation when it comes up. What makes a good business analyst is that they know when, how, and why their company or firm needs them and can handle the demands and needs. That seems like an easy job to do but it is not, especially when there is a lot at stake.
What is the right time to outsource?
When a firm is thinking about outsourcing, the first question that arises is whether it is the right time to outsource or not. Outsourcing can be of great benefit for the firm if done at the right time. Timing is also essential because outsourcing when the time is not right can also cause damage to the firm’s stability. A business analyst finds out when the company should go ahead with the decision.
Now comes the main question; how can a business analyst determine if it is the right time to outsource or not? Here are 5 times a business analyst knows a company should go ahead with outsourcing.
- When you need an instant solution or do not have the required resources
Every firm knows how costly and time-consuming the recruiting process can be. Outsourcing is the most efficient and instant solution you can suggest at any point in the project. The pressure to hire the right “one” for the job and the time it takes to screen candidates can be saved if you simply outsource someone to fill the gap.
- When growing surprisingly fast
When things get rolling for new businesses, orders increase often. This creates immense potential for your business, but also brings challenges that need enough workforce to handle. Outsourcing helps in this situation by getting you the right skills to work for you in no time.
- When you want to lower the cost
One of the most beneficial properties of outsourcing is that it saves you money. As far as lowering the finances is concerned, outsourcing may be the best logical step that makes a business analyst consider it. If you cut costs from one department, you will not be able to reinvest in another because you have already hired enough people and might not be able to afford more. Outsourcing is a pocket-friendly choice then.
- If there is a short-term issue
Short term issues in short-term projects needs short-term solutions. This is when outsourcing steps in. Since hiring a full-time employee is both time-consuming and costly, a short-term or temporary (contract-based) worker works wonders. This will also remove all needs for recruitment, onboarding, and future replacements. It is best when you are looking for a logo designer or interior designer for your office.
- If service is needed out of hours
If your company needs a 24/7 assistant, it is best to hire a virtual assistant. This way, you will not have to worry about keeping the office open after hours, and neither will you need a designated area for customer care tools. Hiring a small to medium-sized company that provides these services remotely is the best option.
There are several other times a business analyst might find it necessary to outsource, like hiring an accounting firm to take care of your small business finances and taxes.