Late in Q4 of 2012, BMIT organised a business breakfast at the Hilton Portomaso in collaboration with GO Business. The event included a panel discussion and centred upon one premise - an outlook onto the world of successful outsourcing.
While outsourcing is often perceived mainly as a cost cutting strategy, this is often a mistaken attitude to adopt. In fact, in today’s hugely interconnected world, outsourcing should be focused upon giving your company a competitive edge using the advantages which outsourcing brings about.
2013 may very well be a watershed year for outsourcing. Increasingly over the past few years, outsourcing has been recognised as a key tool in obtaining better knowledge management and enhancement as well as better cost planning.
Essentially, the central argument for outsourcing follows the logic of the automotive and energy industries. While we all use both cars and electricity, none of us build our own cars or power stations, and this with good reason;
- the costs are prohibitive
- the maintenance is economically unfeasible
- and highly specialised areas such as cars and energy are best left to the specialists.
Additionally, by outsourcing, a company is allowing itself the capability to rapidly react to changes in the business without incurring huge delays or monetary losses.
The panel featured Alan Alden (Kyte Consultants), Dr Tonio Fenech (FFF Legal), Markus Golder (GO plc), Ivan Refalo (Playmobil) and Christian Sammut (BMIT) and their discussion during the breakfast meeting was animated and included various moments of brilliant insight.
In the end, seven key take-aways with regards to outsourcing were identified, including:
- having clear goals set
- ensuring a ‘dream team’ is in place
- careful timing
- considerations to scalability
- finding the right partner for the job at hand
- a singular vision
- and the importance of clearly internal communication.
All the opinions and especially these 7 key insights which were shared during the panel discussion were later expanded into a document which is freely available from BMIT’s website. Get a FREE copy now.