Outsourcing: Improving Core Competencies
Outsourcing has become a popular method to assist businesses to thrive in the 21st century. While each business is unique and requires individualisation for their outsourcing, the ultimate purpose for any business to utilise outsourcing is so that it can improve. The purest way for a business to improve is through focusing on its core competency.
The idea of core competency is a relatively new management theory originally devised in a 1990 Harvard Business Review article. In “The Core Competence of the Corporation”, C.K. Prahalad and Gary Hamel review three conditions a business activity must meet in order to be a core competency:
- The activity must provide superior value or benefits to the consumer.
- It should be difficult for a competitor to replicate or imitate it.
- It should be rare
Core competencies which set businesses above the rest vary across industries. A fantastic recent example can be seen in the accounting world. Some accounting firms demonstrate a mastery of data analytics, offering clients insights far beyond traditional financial reporting. This involves not just crunching numbers, but identifying trends, forecasting future performance, and providing strategic advice based on data. Competitors struggle to match this level of insight without significant investment in data scientists, advanced software, and a commitment to proactive client service.
These successful accounting firms heavily influence the work they outsource. Their outsourced bookkeeping and payroll functions enable them to offer these elite data analytics services for the same price as competitors – competitors who can no longer compete on value-added insights.
These successful accounting firms heavily influence the work they outsource. Their outsourced bookkeeping and payroll functions enable them to offer these elite data analytics services for the same price as competitors – competitors who can no longer compete on value-added insights.
Looking across industries, nearly all companies can benefit their core competency from outsourcing. At APT, we are here to help your businesses core competencies.
How? Many ways!
Outsourcing highly skilled and specifically trained workers for areas such as Payroll, Bookkeeping, Strata Management, Legal Process, IT, Data Analytics, Payroll, Self-Managed Super Fund and Management Reporting can see significant benefits in your business having the:
- Best Customer Service
- Fastest, Quality Delivery
- Highest Quality Service
- Lowest Cost Provider
- Highest Degree of Flexibility
It doesn’t just help the customer, it helps you. Whether it be through assisting your workload and productivity levels, saving cost or increasing your output, we are able to work with you and help. Our professionals are all University qualified and undertake meticulous training to ensure you and your business achieve the desired result.
If you would like to know how we at APT can help you, enquire below.