Savvy businesses are realizing they can’t rely on internal resources alone to complete vital, yet repetitive, tasks. They are turning to smart solutions such as outsourcing to drive necessary efficiencies for greater value. In fact, the market for business process outsourcing is expected to grow to $343.2B by 2025 (Grand View Research Inc. 2019).
So how do you know if your organization should outsource tasks or processes? Start by asking yourself a few revealing questions:
If you answered yes to any of these questions, it may be time to explore outsourcing options.
For first time outsourcers, it can be hard to determine what is best to outsource or to relinquish control. For those who have outsourced before, it can feel like there’s nothing more you can possibly offload. But in truth, the applications of outsourcing are quite diverse and expansive, and result in positive business impacts across the entire company.
Outsourcing customer support doesn’t just mean getting an external workforce to provide online or phone support. It can also mean using a human-in-the-loop approach ensuring quick and accurate processing of customer receipts, invoices, checks, photos, and more.
Where might your customer experience fall short?
Ibotta needed people and technology to scale a data-verification process during the busiest retail season of the year. Read the full case study
"The CloudFactory team flexed up and we sailed through our busiest time of the year without breaking a sweat."
The third-party data labeling market is expected to exceed $1B by 2023 (Cognilytica 2019). More organizations are choosing to outsource data labeling tasks so they can focus efforts on innovating in the AI and machine learning space. Yet these applications don’t always have to be customer facing. Many companies are applying AI to their internal processes as well to make things easier on employees.
Are you considering leveraging AI or machine learning with clients or to streamline internal functions?
Heretik harnessed the power of structured data to disrupt the contract review process with their AI solution. Read the full case study
"CloudFactory’s help has been impactful in getting our product to market. It's helped us attract customers sooner and revenue sooner than we would have without the help."
Let’s say you just acquired a new company that keeps its records in a completely different format than your own. Or maybe you’ve decided to finally update critical records from paper to electronic. That’s a massive undertaking. Getting a team of skilled workers to transcribe or enrich records and data for you is much easier and far more efficient.
Does your organization require disparate systems be integrated more quickly for an accelerated digital transformation?
A longtime CloudFactory client, this insurance company updated their submission platform with the help of their extended team. Read the full case study
"Our success with CloudFactory has shaped the way we look at new systems. We conduct internal development and select external products with CloudFactory in mind because we have such a great partnership."
Think about repetitive tasks your organization may spend hours completing each week. That time adds up quickly. Instead, outsource repetitive but necessary tasks like receipt transcription to help manage expenses, lead enrichment to help sales win more deals, or image tagging to organize pictures and videos more easily.
Are there glaring inefficiencies where outsourcing can finally streamline and simplify your business?
This financial services partnered with CloudFactory to streamline their processes and improved turnaround time from days to minutes. Read the full case study
"We no longer think or worry about the manual side of the document operations - even though it’s a critical part of the business. CloudFactory has given us the ability to grow and scale without any operational constraints."
It can be hard to stay ahead of those repetitive projects which are important but not urgent as you try to keep up with the competition. And don’t forget about that backlog of work you’ve been postponing or maybe ignoring. You can outsource that too.
Are you spinning your wheels just trying to keep up rather than proactively staying ahead?
This medical AI company used CloudFactory to offload repetitive tasks so they could focus on the go-to-market side of their business. Read the full case study
"The space that I’m in is going through an evolution. If you don’t have AI capabilities, you’ll be left behind. But I can’t focus on the product if I’m swamped doing people management. CloudFactory takes that burden off of us."