Outsourcing Or Nearshoring?
We can't say that everyone who has involved outsourcing in their business may have found it as a very efficient tool to achieve success
. In this light, the better solution may lie on harnessing the potent use of nearshoring. Indeed, most industries today are well aware of how beneficial outsourcing can be in terms of saving time and money. There are workforce available in other countries that are willing to perform tasks at a lower rate compared to those appropriated for the Western ones.When we speak of nearshoring, is one form of outsourcing which is basically different with the distance where services will be acquired. It still involves outsourcing tasks to countries that experiences low wages. However, the distance between the source of the tasks and the receiver will not mean crossing halfway around the world. Some business owners and companies have found this to be a more secured and effective means to reduce their costs while limiting the stress that are often experienced with outsourcing to far-off countries.
There are other benefits that are presented for firms that would prefer nearshoring. For one, the cultural beliefs may appear to be relatively similar to each other. In example, they may celebrate the same holidays, run on the same work schedules or even share the same time zone. The disadvantage or challenge in having various cultural beliefs can affect the operation and function of both parties. It can even include a major setback in line with communication.
We mentioned having the same time zone. Indeed, it is one of the most challenging aspect of outsourcing. Ideally, companies would send out their projects through email communications and wait the next day for the reports from the service provider. If truth be told, there have quite a few mishaps in such trade. Some companies experience dealing with incomplete reports, extension on deadlines and more. If two parties would have very little discrepancy on their time zone, they can easily chat or establish phone calls to ensure proper reports are delivered on time. Even traveling is cheaper if the need arises.
Moreover, nearshoring also helps in dealing with the challenges of economic condition. In example, when a company in the US will outsource their projects all the way to India, a slight movement in the value of US currencies will mean dealing with increased rates for their outsourcing counterpart. However, in nearshoring, the exchange rate movements will less likely affect the entire scenario with too much impact.
Though these advantages of nearshoring are noble, it is important to consider the quality of work and professionalism of the service provider. Near or far, the end result will still be the deciding factor on whether to nearshore projects or not.
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