Outsourcing Plan Template

Outsourcing Plan Template

What is an Outsourcing Plan?

An outsourcing plan is a strategic plan developed to identify and manage any external services, resources, and activities related to a business. It outlines the goals, objectives, and key performance indicators (KPIs) that need to be achieved in order to successfully outsource operations and activities. This plan also outlines the actions required to achieve the desired results and the cost savings associated with the plan.

What's included in this Outsourcing Plan template?

  • 3 focus areas
  • 6 objectives

Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective.

#1 Strategy Execution Platform Learn how to get more value out of your free template! Book a demo

Who is the Outsourcing Plan template for?

This Outsourcing Plan template is designed for teams of any size, from small startups to large corporations, and for any industry. This template is an easy-to-use guide to help you create a plan that identifies and manages your outsourcing activities.

1. Define clear examples of your focus areas

The first step in creating an outsourcing plan is to define the focus areas. A focus area is a broad area of business operations that you want to outsource. Examples of focus areas include identifying and evaluating outsourcing opportunities, managing and monitoring outsourcing contract performance, and monitoring and controlling outsourcing costs.

2. Think about the objectives that could fall under that focus area

Once the focus areas are identified, the next step is to think about the objectives that could fall under those focus areas. Objectives are specific goals that you want to achieve in order to reach the desired results or cost savings. Examples of objectives can include establishing clear criteria for outsourcing, analyzing cost savings, establishing performance metrics, and monitoring performance.

3. Set measurable targets (KPIs) to tackle the objective

Once the objectives are identified, the next step is to set measurable targets (KPIs) to tackle the objectives. Key performance indicators (KPIs) are measurable targets that you set to track the progress of your objectives. Examples of KPIs can include the number of criteria established, the cost savings per month, the number of performance metrics established, and the percentage of performance metrics met.

4. Implement related projects to achieve the KPIs

The fourth step in creating an outsourcing plan is to implement related projects to achieve the KPIs. Projects, or actions, are the specific activities that need to be completed in order to meet the objectives and KPIs. Examples of projects can include developing a list of criteria for evaluating potential outsourcing opportunities, analyzing potential cost savings of outsourcing, developing a set of metrics to measure the performance of the contract, and developing cost control mechanisms to ensure the contract is cost effective.

5. Utilize Cascade Strategy Execution Platform to see faster results from your strategy

The Cascade Strategy Execution Platform is a powerful tool to help you manage, monitor, and control your outsourcing activities. It helps you track your progress and adjust your plan if needed in order to ensure you reach your goals and objectives. With Cascade, you can see faster results from your outsourcing strategy and make sure your business is running as efficiently as possible.

Sample Outsourcing Business Plan

Here is a business plan for starting an outsourcing business.

Like most new businesses, launching an outsourcing business will present a lot of challenges. Being able to overcome them is where most entrepreneurs find deep satisfaction.

The process begins with writing an outsourcing business plan.

This requires a lot of considerations and deliberations with the end goal being to create a well-written plan that’s easily implementable.


For many business owners, the need to get or attract funding is primary. With a good plan, that is very achievable. Basically, your outsourcing business plan helps reveal the viability of your business idea.

More importantly, your plan serves as a tool to implement your business strategies and also monitor its growth.

Key Sections you must include in your Plan

In a bid to create a great plan, certain points or sections need to be covered. These serve as a framework around which the entire plan is developed.

They include the executive summary section, company or business description, products & services section, as well as the market analysis section.

There are other equally important sections like the strategy & implementation, organization & management, as well as financial plan & projection sections.

With all of these combined, you have an easily implementable sound plan. But what’s contained in these sections? Let’s find out.

i. Executive Summary

This is the first section of the plan in order of arrangement. It’s the section potential investors will want to see before anything else.

It’s called the executive section because it provides a brief overview of your outsourcing business plan. In other words, this section can be referred to as the condensed version of your business plan.

As expected, the executive summary section should be highly summarized with main points such as your outsourcing business name and location, the products and services on offer, mission & vision statements, as well as the specific purpose of the plan.

Let’s discuss these points in brief.

Business Name & Location

You’re expected to have figured out a befitting name for your outsourcing business before writing your plan.

As part of the introduction, a location must also be provided. All of these provide a starting point for readers to follow and to understand more about your business idea.

Products & Services

What type of services and products do you intend on providing?

This is a key detail of your business plan investors will be interested in. Because this is the executive summary section, it’s necessary to avoid getting into all the details as there’s a whole section for it in the main plan.

Mission & Vision Statements

The mission statement for your outsourcing business should clearly state the goal you plan on achieving as a business. In other words, it articulates your business’ purpose by stating the why.

For the vision statement, the current and future objectives of your outsourcing business are brought to the fore.

In basic terms, your vision statement should embody your dream for the business and adopts a long-term perspective.

Specific Purpose of the Plan

Without a specific purpose, your business plan will be deficient.

What do you want your outsourcing business plan to achieve? For some entrepreneurs, the purpose might mainly be for strategic planning while for others, it might be to attract investments or other reasons.

State your purpose for having the plan.

ii. Company Description

A broad look at your business operations is necessary with key areas to be looked at like short and long-term goals as well as how you intend to make a profit.

This detail among several is important to investors. Also, the legal structure you’ll be adopting is important. What more? The company description will require adding a summary of your business’ growth.

Financial or market highlights will need to be part of the details to be added here. Provide a brief history of your outsourcing business as well as the problems you intend to solve through your services and products.

Who are your target clients? Will you be working with suppliers? Include such details included here.

iii. Products & Services

Anyone in the dark about the services and products your business will be about should be enlightened by the information they get from this section.

This will require a detailed description of your services with the main emphasis being customer satisfaction.

If ongoing research and development activities are leading to the development of newer products, such should information should be included here.

What advantage(s) does your outsourcing business have over its competitors?

iv. Market Analysis

An in-depth marketing analysis is required to gain a better understanding of the business.

With such knowledge, you’re able to demonstrate that to your audience by covering key areas of operation such as providing a sketch of your target market segments with demographics where necessary.

To measure up, you’ll need to assess how you stand relative to your competitors by identifying their strengths and weaknesses.

You should also be able to provide marketing data on historical, current, and projected operations through an in-depth analysis of the market.

v. Strategy & Implementation

Marketing and sales are primary determinants of growth for any business.

With the help of an operating plan, provide cost and pricing details of services and products as well as any promotions you intend on embarking.

You want to also state how you intend to reach your target audience and capture a fair share of the market.

vi. Organization & Management

A competent organization and management team must be in place to aid with the smooth running of your outsourcing business.

Under this section, provide an organizational chart that clearly identifies and describes key employees and the departments they occupy.

Who is/are the business owner(s)? You’ll need to go into more detail by providing names, percentage ownership, and level of involvement in the business.

Moving from the business owners, provide the profiles of your management team members.

vii. Financial Plan & Projection

It’s always advisable to seek professional help when putting the financial plan together. This won’t be necessary if you’ve got great accounting skills.

Otherwise, have an accountant help out with details such as the historical financial data, as well as having realistic prospective financial information.

With these sections carefully written and included in your plan, you should be ready to proceed with implementation. You also get the added benefit of attracting funding for your outsourcing business.

Related posts:

  • Sample Business Consulting Firm Business Plan
  • Sample Oyster Farming Business Plan
  • Sample Fire Protection Equipment Business Plan

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *


  • How We Work
  • Industry Insights

6 Steps for Building a Successful Outsourcing Strategy

  • April 15, 2023
  • In Business , Talent , Staffing & Hiring

Software development firms and business IT departments increasingly rely on technical staffing services to help run their businesses to offset mounting costs, or pull in outside engineering talent. Small to midsize US-based businesses are especially well positioned in terms of their market position to take advantage of the benefits that come from outsourcing. By understanding how to implement different outsourcing models when required, companies can rein in their HR budgets, while gaining access to skilled technical labor when that labor is needed most (e.g. on a tight deadline, or to fill in-house skills gaps).

BXGI believes that in order to get the most for our clients, it’s essential a firm knows how to build a successful outsourcing strategy. By laying out a detailed blueprint of how to approach outsourcing ahead of time, a company can ensure that it’s day-to-day work schedule continues to run as smoothly as possible as augmented staff integrate with internal creative or development teams. Over the years, BXGI has worked with a variety of clients, and discovered that when a business adopts a comprehensive outsourcing approach from the onset, vendors can better manage and maintain exceptionally high service quality, while keeping clients’ expenditures as low as possible.

Here are 6 crucial steps to building an effective outsourcing strategy:

1. Outline Detailed Outsourcing Goals

A company that clearly defines its outsourcing goals early on is already one step ahead of the competition. Firms that carefully outline their outsourcing objectives, step-by-step, will be in a better position to select the right staff augmentation model for their particular industry than companies that pay less attention to these steps, because they’ve taken the time to understand the pros and cons of outsourcing.

Another advantage of defining crystal clear outsourcing goals is the opportunity to take stock of a company’s actual outsourcing needs. While staff augmentation comes with many positives, there are some downsides as well, which could mean outsourcing might not be the best staffing approach for a particular business during a certain period of time. But when a gaming or software development firm is preparing for a next phase in product development, or launching several new projects that exceed the ability of their current employees to handle, or require outside technical or creative expertise, staff augmentation agencies can help provide a company with the skilled professionals it needs.

By establishing well-defined outsourcing goals early on, a firm can utilize IT staffing in the most effectual manner possible — hopefully increasing productivity, while saving money at the same time, by scaling up or scaling down supplemental staff as business or budgetary concerns dictate.

2. Budget for the Expected and Unexpected

According to Statista, which specializes in market and consumer data, information technology outsourcing (ITO) hit $62 billion in 2018 (business process outsourcing, or BPO, reached almost $24 billion). And while the size of the IT outsourcing market will likely fluctuate over the next few years due to changes in the global economy, as well as due to companies cutting costs by moving less critical IT services over to cloud computing environments , operational managers still need to budget for different business scenarios that come from working with a staff augmentation model.

When mapping out monthly, quarterly and annual budgets, companies need to take into account their present staff augmentation needs, while factoring in how augmentation can help reduce their overall personnel budgets, if and when properly implemented. But they’ll also need to budget for the unexpected, such as unforeseen employee turnover, or a new contract that requires more skilled labor than is currently on staff.

Managers often cite “hidden costs” as one of the primary reasons why outsourcing endeavors can fall short of initial expectations. A reputable IT staffing firm can help a company validate its supplemental staffing plan, finding the right balance between affordability and expected results, while also identifying possible hidden costs, giving the client the ability to quickly increase or decrease supplemental staff when needed, or on short notice, without breaking the bank.

3. Choose the Right Outsourcing Engagement Model

When building a compressive outsourcing strategy, HR executives should prioritize the specialized skills they’re searching for, and why. By clearly defining the technical or creative expertise they need to add, it becomes easier for managerial teams to choose an outsourcing engagement model that matches their specific staffing requirements.

There are a variety of outsourcing models to choose from, including onsite, onshore, nearshore and offshore engagement models, all of which come with different benefits and risks. A company looking to offload noncritical technical operations would likely be interested in a different type of outsourcing model than a software firm on the hunt for an exceptionally rare programing skill, which would differ still from the model a gaming studio would select to fill a few in-house skills gaps on a short-term basis. By choosing the right outsourcing engagement model — in consultation with an experienced technical staffing firm — from the beginning, businesses can put supplemental staff to work as quickly and efficiently as possible, without wasting time or resources, or cutting down on productivity for any significant amount of time.

4. Mitigate Outsourcing Risks

While outsourcing comes with many benefits, it also carries with it some risks that need to be addressed (as we’ve already briefly covered). By understanding and mitigating these risks, companies can reduce their financial exposure, while increasing the efficiency of the outsourcing model they select. Here are four risks to pay particularly close attention to:

  • Trust and Control: Managerial oversight is reduced when a company outsources, especially when choosing the onshore, nearshore or offshore models. HR directors can build trust by learning as much as they can about the IT staffing firm they’re working with, speaking with previous clients, and making sure they’re comfortable with their vendor’s outsourcing methodologies. These simple steps can help establish clear communications protocols, fostering a sense of cooperation and trust between a company and its vendor.
  • Hidden Costs: As we’ve discussed, hidden costs, when it comes to outsourcing, can quickly lead to client dissatisfaction. When signing a contract with an IT staff augmentation agency, HR executives need to make sure their contracts clearly outline terms of payment, any lists of possible (and acceptable) supplementary charges, what services might incur additional charges, a ceiling to additional expenses, as well as a procedure for reviewing surcharges if and when those services/charges are actually needed.
  • Quality Issues: In addition to a reduction or loss of operational control or oversight, outsourcing can also carry the risks of quality issues. These risks can be mitigated by working with vendors that have demonstrated a commitment to quality control with past clients and projects, and have a comprehensive process in place to quickly resolve any quality issues — onsite or offsite — with a creative or development project (employing augmented staff) should product or service quality issues arise.
  • Confidentiality and Intellectual Property Rights: BXGI believes intellectual property is a serious matter. Rather than create any uncertainty over intellectual property issues (like copyrights, patents, or trade secrets) HR and legal executives might have concerning supplementary staff, BXGI safeguards against these issues by having all of our creative and technical talent sign exclusive work ownership agreements and NDAs. These contracts take our clients’ confidentiality concerns into account, while also protecting their intellectual property rights.

5. Actively Track Outsourcing Progress and Added Value

In order to monitor the advantages and disadvantages that come with outsourcing, it’s important a company or development team has some clear key performance indicators (KPIs) in place. These indicators can help executives decide if the particular staff augmentation model they’ve chosen is the right one for them. And while these performance indicators can vary widely, a reputable outsourcing vendor should be able to offer multiple indicators (assuming the client has already established clear outsourcing objectives), including, but not limited to: benchmark procedures for breaking down outsourcing costs versus supplemental staff job performance, measuring outsourcing expenditures against productivity, measuring the output and efficiency of different augmented teams against expected outcomes outlined in a service-level agreement (SLA) — and of course setting up the specific internal protocols designed to measure and report KPIs in the first place.

By measuring the benefits and progress (or lack of progress) of the outsourcing engagement model a company selects, corrective steps can be implemented if staffing expectations aren't being met. But if those predefined expectations are being met, actively tracking outsourcing benefits and progress can help strengthen the model being employed, thus contributing to continued outsourcing success.

6. Establish Strong Client/Vendor Communication Channels and Relationships

One of the most straightforward and obvious steps to outsourcing success is finding a technical staffing firm that can mesh with a client’s way of doing business. Corporate culture and communication protocols can vary extensively in the business world. Companies looking to hire augmented staff locally or remotely all want to work with technical staffing agencies that operate in a transparent, responsive manner, and that will address any outsourcing issues that may occur promptly and professionally.

An outsourcing vendor that takes the time to learn about a client’s internal business culture, and how it runs its engineering and creative teams, will be building the foundation to a relationship that fosters good communication. This close relationship, in turn, helps IT staffing firms provide the most appropriate company-specific staffing solutions they can, while remaining flexible enough (thanks to constant client/vendor communication) to predict and adjust to a company’s personnel needs down the road.

Companies that lay out a well-defined blueprint in terms of what they expect from their outsourcing agency, and are aware of the advantages and occasional disadvantages that come with outsourcing and staff augmentation (especially in relation to their specific industries), will be in a better position to optimize the advantages, while reducing any associated risks. By building a careful, detailed approach to outsourcing from the beginning of a project, managers will be setting up a clear path to creating a sustainable and successful outsourcing strategy, which will ultimately help them better meet their business goals.

Find better talent at lower cost.

Sourcer is a modern solution to solving the worldwide talent shortage. Is your company looking for IT talent? Or, do you have an available bench of technical or creative design resources? Join our IT talent marketplace today.

How to start a BPO business (step-by-step guide)

how to start a bpo

Want to know how to start a BPO company?

With tons of businesses looking to outsource their non-core activities, starting a BPO company has never been more lucrative!

In this article, we’ll show you how to start a BPO company and run it effectively.

This article contains:

(Click on the links to jump to a specific section)

  • What Is BPO?
  • Determine The Type Of BPO You Want
  • Develop A Business Plan
  • Do The Paperwork
  • Invest In The Necessary Equipment
  • Staff Your BPO Firm
  • Marketing Your Business And Getting Clients

What is Business Process Outsourcing (BPO)?

Business process outsourcing is an activity where a company contracts its non-core work to an external party. Traditionally, most companies outsource the work to dedicated BPO firms.

For example, many companies in the United States outsource their customer support to small BPO companies in India.

However, with the rise of the gig economy , companies now also hire freelancers to do the job for them.

Why do companies do this?

Outsourcing non-core business activities like data entry and customer service let companies focus solely on their core business operations. This way, they can only invest resources in tasks that matter the most.

What’s in it for you as a BPO vendor?

The BPO industry just keeps growing. As tons of companies are looking to outsource their non-core activities, there are plenty of business opportunities in the BPO industry for new BPO providers.

By setting up BPO firms like domestic call centers in countries like the Philippines and India, you’re also going to save tons of money.

You’ll incur:

  • Reduced setup costs.
  • Cheaper overheads.
  • Lower salaries.

Plus, there’s no shortage of services that businesses are willing to outsource!

This means that you can start a BPO business that specializes in pretty much anything, such as:

  • Inbound or outbound call center services.
  • Market research.
  • Data entry.
  • Human resource management.
  • Payments or claims processing.
  • Customer support and other back-office services.
  • Digital marketing and e-commerce.

The six steps to start a BPO business

Here’s how you can start and run a business process outsourcing company in six simple steps:

1. Determine the type of BPO you want

The first step in setting up a BPO company is identifying your business niche.

Zeroing in on a niche helps you determine:

  • Your BPO industry sector.
  • The activities your BPO firm undertakes.
  • The type of clients you engage with.

For example, you could provide call center services to small companies in the retail industry. Here, your BPO sector is retail, your activities are call center services and the type of clients you work with are small companies.

Remember, when starting out, select an outsourcing service you’re familiar with. For example, if you have no experience handling administrative work, don’t offer those services. Even though it may seem straightforward, you’re better suited to offering services you’re already trained in.

Once your company has gained enough traction, you could choose to expand your business in one of two ways:

1. Horizontal BPO

Refers to BPO activities that can be offered across multiple industries. For example, you could only provide technical support across various industries like IT, financial, retail and marketing. In this scenario, your service remains unchanged; however, the industry focus of your business varies.

2. Vertical BPO

Refers to BPO services that are industry-specific. For example, medical coding and billing are activities that are specific to the healthcare industry. Here, your industry focus remains the same while your offerings expand to include other activities within that industry.

2. Develop a new business plan

The next step is developing a business plan for your company.

Ideally, your plan must be well-researched and comprehensive . You need to analyze the intricacies of your chosen niche and look at what your competitors are doing.

Your business plan should:

  • Determine your company’s long-term direction.
  • Set clear business budgets, objectives and milestones.
  • Identify your business structure.
  • Help lenders and investors understand your business idea.

While it’s important to develop a good plan, you need to review and update it regularly. This ensures that you’re always able to adapt to any new changes in the market.

bpo business plan

3. Do the paperwork

Once your business plan is ready, you’ll have to handle all the necessary paperwork involved in setting up a company.

As this varies on a country-by-country basis, you’ll need to find out how the process works in your country.

For example, if you’re looking to start your BPO business in Bangalore, Chennai or anywhere else in India, here’s how you can register your business:

  • In India, you need to register your business under the Companies Act 2013 . This law regulates the responsibilities and operations of firms in the country. You also need to register with the National Association of Software and Services Companies (NASSCOM) to be certified as a BPO provider in India.
  • If you are a call center or offer telemarketing and other IT services in India, your business must be listed as a Private Limited Company . You also need to obtain the Other Service Provider (OSP) license from the Department of Telecommunications (DOT) .
  • Once you’ve received the OSP license, you may also need to register your business under the Goods and Services Tax (GST) , depending on your BPO offerings.

Laws and tax regulations are always complicated and confusing, so why not consult a legal expert to help you out?

They can easily break down the complexities of your registration process and identify laws that may be beneficial for your business.

4. Invest in the necessary equipment and technology

Regardless of the kind of services you offer, you’ll need to invest in some essential equipment and technology.

For example, most BPO companies need resources such as:

  • Office space and furniture.
  • Computers and office supplies.
  • A high-speed internet connection.
  • Workforce management tools .

Some BPO firms such as call centres will also need specialized equipment such as headsets and recording systems.

Remember, the equipment you need will vary based on the type of business process outsourcing service you’re offering. So go over what you need and only invest in that software.

Most companies spend tons of money on tools they don’t need!

With that being said, here are a few key tools that every BPO firm should have:

A. Communication tools

You’ll need a set of good communication tools to keep your projects running smoothly. These tools will help your team collaborate over projects and share updates and relevant files.

Messaging tools

Messaging tools like Fleep and Slack help you quickly collaborate over projects and share relevant data with your staff. You can even create individual channels for team-specific conversations. For example, you can create a sales message channel for focused discussions with your sales team.

Video conferencing tools

Video calling tools like Skype and Zoom help you easily interact with your BPO staff. You can host team meetings and product reviews even if your BPO staff is spread across the globe! It’s an excellent way to build team chemistry and ensure that everyone in your BPO team feels connected.

B. Performance tracking tools

Performance tracking tools help you monitor the productivity of your employees.

Most companies use them to:

  • Determine how active their employees are while working.
  • Identify if someone’s passing idle-time as work hours.
  • Track how long projects take to complete. Create accurate records of time worked to bill clients.

With tools like Time Doctor , you get all this and more!

What’s Time Doctor?

Time Doctor is a powerful time tracking and productivity monitoring software.

It lets you:

  • Track time an employee spends on each task.
  • Monitor their web and app activity during work hours.
  • Identify poor-time usage to hold the employee accountable.
  • Ensure that your staff is actively working.
  • Access tons of accurate reports for client billing.

Here’s a closer look at how Time Doctor helps you monitor your BPO employees:

1. Simple time tracking

Most time tracking tools can be confusing to use.

This is an issue because when your staff is wasting time figuring out how to use a tool, they’ll have less time to work on their tasks!

Luckily, TimeDoctor is super easy to use.

The tool lets you track time in four simple steps:

  • Open Time Doctor.
  • Enter the task or project name.
  • Start the timer (the app then starts tracking time quietly in the background).
  • Stop the timer when you’re done with your task.

As you won’t have to train your employees to use Time Doctor, they can get started right away!

time tracking for remote teams

2. Powerful and accurate project records

Time Doctor’s Project Reports give you a detailed break down of the hours spent on each project. It shows you who worked on each task and for how long. For example, if you’re a call center, you’ll know which employee spent the most time answering customer calls.

As the reports are accurate to the second, you can even use it to bill your clients on an hourly basis.

projects report breakdown

What’s more?

Time Doctor generates tons of other detailed reports, such as:

  • Timesheet report – shows the total hours worked by all your BPO staff over a given period.
  • Time use report – displays the time spent on tasks by each employee over a specific period.
  • Timeline report – displays each employee’s daily work activity in chronological order.
  • Attendance and late report – shows who was absent or late on each day and their reason for it.

You can click here for more information on Time Doctor’s reports.

3. Keep your team focused on their tasks

You can’t have your employees get distracted while they’re working, right?

Luckily, Time Doctor has a web and app activity tracker .

The tool automatically monitors your employee’s web and app usage during work hours. If someone accesses an unproductive website like Facebook or YouTube, Time Doctor displays a pop-up asking them if they’re still working. This nudge is enough to get them back to work.

For added flexibility, you can customize which websites and apps are categorized as unproductive.

time doctor nudge

Time Doctor also gives you a Web and App Usage Report that shows which websites and apps were used by each employee and for how long.

web and app use report

4. Seamlessly integrate with your other workplace software

Time Doctor instantly integrates with tons of different workplace software to help you track the time spent on those tools. You can connect it to your project management, team communication and payment tools for added functionality.

time doctor integrations and addons

Click here for the complete list of Time Doctor’s integrations.

5. Staff your BPO firm

You’ll now have to staff your own business process outsourcing company.

A. Determine your requirements

Since you’re only starting out, it’s safer to hire around 15-20 experienced people on a full-time basis. As they’re experienced, they won’t require much training in the new job and can help you scale up quickly. Once you grow, you can start to expand and hire more people.

However, this isn’t a hard-and-fast rule.

The number of people you hire and your hiring criteria will vary based on your BPO specialty.

For example, when staffing an on-site call center , you may need to hire at least 50-100 people. However, if you’re opting for a remote-based call center, you’ll need a 25 seater BPO.

When hiring call center agents, your chief evaluation criteria must be communication skills. You’ll need to hire people who are fluent in your chosen language, can communicate effectively and empathize with customers.

B. Finding candidates

Finding the right candidates is never an easy task.

However, when you have a clear idea of the number of people you need and the type of people you’re looking for, this becomes easier.

Create a detailed job description that outlines:

  • The activities they’re expected to perform.
  • The qualifications needed.
  • The skills required for the job.
  • What your company is about.
  • How this job can help them.

Outlining all of that is essential as it’ll give the candidate a clear idea of what they can expect from the job. This will help narrow your selection pool to include only the most committed candidates who fulfill all your requirements.

Post this job description on sites such as LinkedIn or AngelList to get the applications rolling in! Alternatively, you can hire a part-time hiring manager to find candidates for you in case you need to staff up quickly.

Once you have a set of reliable employees, you can create a referral program where they recommend talent from their networks to join your BPO firm. This is another good staffing option as your employees understand your company culture and will only recommend candidates who are a good fit.

6. Marketing your business and getting clients

Now that your business is up and running, you need to market it to gain more clients.

A. Build a top-notch website for your company

Start by building a user-friendly website for your company. Hire professional copywriters and web designers to create your site.

The benefits?

  • A user-friendly website helps you build brand credibility and improve the search engine discoverability of your business.
  • Your website clearly describes who you are and what you do—helping you inform leads of your services.
  • It makes it easy for people to contact you if they need your services.

Important Tip

When getting a domain name for your business, avoid .net domains if you can. Always try and get a .com domain as that’s usually the go-to extension that people use when searching Google.

If you opt for a .net domain, someone might type your company’s name, follow it with .com and be directed to a competitor’s site!

B. Networking

Using your current network to find clients is your best bet when you’re starting out as a small business. As these people already know you, they’ll be more than willing to give your BPO firm a shot. You can even ask them to recommend you to their connections to build your name in the BPO industry.

C. Spreading awareness

Traditionally, BPOs relied completely on sales teams for leads, since they were targeting enterprise clients only. However, with the scope of BPO expanding to mid-size and small businesses too, you can also opt for several different marketing strategies such as:

  • Using social media to spread awareness and find clients.
  • Using SEO and content marketing to get found on search engines.
  • Using paid ads on LinkedIn and Google.

Starting your own BPO company isn’t rocket science.

You need to analyze the BPO industry in your niche, outline a strong business plan, complete the necessary paperwork and invest in the right tools to run your business. Once you’ve done that, you’ll have no trouble running your BPO firm and growing it in no time!

Time Doctor - start a free trial

Andy is a technology & marketing leader who has delivered award-winning and world-first experiences.

Everything you need to know about HR BPO

Introducing activity summary report and payroll functionality, related posts, ai in accounting: balancing automation and the human touch, employee well-being and mental health in remote bpo settings, revolutionizing dental practice management: dentistry support’s remote support services, benefits of subject matter experts (smes) in bpo call centers, evaluating the pros and cons of a customer service bpo, navigating the challenges of tech development and digital transformation in bpo industries.

An official website of the United States government

Here’s how you know

Official websites use .gov A .gov website belongs to an official government organization in the United States.

Secure .gov websites use HTTPS A lock ( Lock A locked padlock ) or https:// means you’ve safely connected to the .gov website. Share sensitive information only on official, secure websites.

Write your business plan

Business plans help you run your business.

A good business plan guides you through each stage of starting and managing your business. You’ll use your business plan as a roadmap for how to structure, run, and grow your new business. It’s a way to think through the key elements of your business.

Business plans can help you get funding or bring on new business partners. Investors want to feel confident they’ll see a return on their investment. Your business plan is the tool you’ll use to convince people that working with you — or investing in your company — is a smart choice.

Pick a business plan format that works for you

There’s no right or wrong way to write a business plan. What’s important is that your plan meets your needs.

Most business plans fall into one of two common categories: traditional or lean startup.

Traditional business plans are more common, use a standard structure, and encourage you to go into detail in each section. They tend to require more work upfront and can be dozens of pages long.

Lean startup business plans are less common but still use a standard structure. They focus on summarizing only the most important points of the key elements of your plan. They can take as little as one hour to make and are typically only one page.

Traditional business plan

write traditional plan

Lean startup plan

A lean business plan is quicker but high-level

Traditional business plan format

You might prefer a traditional business plan format if you’re very detail-oriented, want a comprehensive plan, or plan to request financing from traditional sources.

When you write your business plan, you don’t have to stick to the exact business plan outline. Instead, use the sections that make the most sense for your business and your needs. Traditional business plans use some combination of these nine sections.

Executive summary

Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company’s leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

Company description

Use your company description to provide detailed information about your company. Go into detail about the problems your business solves. Be specific, and list out the consumers, organization, or businesses your company plans to serve.

Explain the competitive advantages that will make your business a success. Are there experts on your team? Have you found the perfect location for your store? Your company description is the place to boast about your strengths.

Market analysis

You'll need a good understanding of your industry outlook and target market. Competitive research will show you what other businesses are doing and what their strengths are. In your market research, look for trends and themes. What do successful competitors do? Why does it work? Can you do it better? Now's the time to answer these questions.

Organization and management

Tell your reader how your company will be structured and who will run it.

Describe the  legal structure  of your business. State whether you have or intend to incorporate your business as a C or an S corporation, form a general or limited partnership, or if you're a sole proprietor or limited liability company (LLC).

Use an organizational chart to lay out who's in charge of what in your company. Show how each person's unique experience will contribute to the success of your venture. Consider including resumes and CVs of key members of your team.

Service or product line

Describe what you sell or what service you offer. Explain how it benefits your customers and what the product lifecycle looks like. Share your plans for intellectual property, like copyright or patent filings. If you're doing  research and development  for your service or product, explain it in detail.

Marketing and sales

There's no single way to approach a marketing strategy. Your strategy should evolve and change to fit your unique needs.

Your goal in this section is to describe how you'll attract and retain customers. You'll also describe how a sale will actually happen. You'll refer to this section later when you make financial projections, so make sure to thoroughly describe your complete marketing and sales strategies.

Funding request

If you're asking for funding, this is where you'll outline your funding requirements. Your goal is to clearly explain how much funding you’ll need over the next five years and what you'll use it for.

Specify whether you want debt or equity, the terms you'd like applied, and the length of time your request will cover. Give a detailed description of how you'll use your funds. Specify if you need funds to buy equipment or materials, pay salaries, or cover specific bills until revenue increases. Always include a description of your future strategic financial plans, like paying off debt or selling your business.

Financial projections

Supplement your funding request with financial projections. Your goal is to convince the reader that your business is stable and will be a financial success.

If your business is already established, include income statements, balance sheets, and cash flow statements for the last three to five years. If you have other collateral you could put against a loan, make sure to list it now.

Provide a prospective financial outlook for the next five years. Include forecasted income statements, balance sheets, cash flow statements, and capital expenditure budgets. For the first year, be even more specific and use quarterly — or even monthly — projections. Make sure to clearly explain your projections, and match them to your funding requests.

This is a great place to use graphs and charts to tell the financial story of your business.  

Use your appendix to provide supporting documents or other materials were specially requested. Common items to include are credit histories, resumes, product pictures, letters of reference, licenses, permits, patents, legal documents, and other contracts.

Example traditional business plans

Before you write your business plan, read the following example business plans written by fictional business owners. Rebecca owns a consulting firm, and Andrew owns a toy company.

Lean startup format

You might prefer a lean startup format if you want to explain or start your business quickly, your business is relatively simple, or you plan to regularly change and refine your business plan.

Lean startup formats are charts that use only a handful of elements to describe your company’s value proposition, infrastructure, customers, and finances. They’re useful for visualizing tradeoffs and fundamental facts about your company.

There are different ways to develop a lean startup template. You can search the web to find free templates to build your business plan. We discuss nine components of a model business plan here:

Key partnerships

Note the other businesses or services you’ll work with to run your business. Think about suppliers, manufacturers, subcontractors, and similar strategic partners.

Key activities

List the ways your business will gain a competitive advantage. Highlight things like selling direct to consumers, or using technology to tap into the sharing economy.

Key resources

List any resource you’ll leverage to create value for your customer. Your most important assets could include staff, capital, or intellectual property. Don’t forget to leverage business resources that might be available to  women ,  veterans ,  Native Americans , and  HUBZone businesses .

Value proposition

Make a clear and compelling statement about the unique value your company brings to the market.

Customer relationships

Describe how customers will interact with your business. Is it automated or personal? In person or online? Think through the customer experience from start to finish.

Customer segments

Be specific when you name your target market. Your business won’t be for everybody, so it’s important to have a clear sense of whom your business will serve.

List the most important ways you’ll talk to your customers. Most businesses use a mix of channels and optimize them over time.

Cost structure

Will your company focus on reducing cost or maximizing value? Define your strategy, then list the most significant costs you’ll face pursuing it.

Revenue streams

Explain how your company will actually make money. Some examples are direct sales, memberships fees, and selling advertising space. If your company has multiple revenue streams, list them all.

Example lean business plan

Before you write your business plan, read this example business plan written by a fictional business owner, Andrew, who owns a toy company.

Need help? Get free business counseling

  • Search Search Please fill out this field.

What Is Outsourcing?

Understanding outsourcing, special considerations.

  • Outsourcing FAQs

The Bottom Line

  • Business Essentials

Outsourcing: How It Works in Business, With Examples

business plan for outsourcing company

Pete Rathburn is a copy editor and fact-checker with expertise in economics and personal finance and over twenty years of experience in the classroom.

business plan for outsourcing company

Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and staff. Outsourcing is a practice usually undertaken by companies as a cost-cutting measure. As such, it can affect a wide range of jobs, ranging from customer support to manufacturing to the back office.

Outsourcing was first recognized as a business strategy in 1989 and became an integral part of business economics throughout the 1990s. The practice of outsourcing is subject to considerable controversy in many countries. Those opposed argue that it has caused the loss of domestic jobs, particularly in the manufacturing sector. Supporters say it creates an incentive for businesses and companies to allocate resources where they are most effective, and that outsourcing helps maintain the nature of  free-market economies on a global scale.

Key Takeaways

  • Companies use outsourcing to cut labor costs, including salaries for their personnel, overhead, equipment, and technology.
  • Outsourcing is also used by companies to dial down and focus on the core aspects of the business, spinning off the less critical operations to outside organizations.
  • On the downside , communication between the company and outside providers can be hard, and security threats can amp up when multiple parties can access sensitive data.
  • Some companies will outsource as a way to move things around on the balance sheet.
  • Outsourcing employees, such as with 1099 contract workers, can benefit the company when it comes to paying taxes.

Investopedia / Mira Norian

Outsourcing can help businesses reduce labor costs significantly. When a company uses outsourcing, it enlists the help of outside organizations not affiliated with the company to complete certain tasks. The outside organizations typically set up different compensation structures with their employees than the outsourcing company, enabling them to complete the work for less money. This ultimately enables the company that chose to outsource to lower its labor costs.

Businesses can also avoid expenses associated with overhead , equipment, and technology.

In addition to cost savings, companies can employ an outsourcing strategy to better focus on the core aspects of the business. Outsourcing non-core activities can improve efficiency and productivity because another entity performs these smaller tasks better than the firm itself. This strategy may also lead to faster turnaround times, increased competitiveness within an industry, and the cutting of overall operational costs.

Companies use outsourcing to cut labor costs and business expenses, but also to enable them to focus on the core aspects of the business.

Examples of Outsourcing

Outsourcing's biggest advantages are time and cost savings. A manufacturer of personal computers might buy internal components for its machines from other companies to save on production costs . A law firm might store and back up its files using a cloud-computing service provider, thus giving it access to digital technology without investing large amounts of money to actually own the technology.

A small company may decide to outsource bookkeeping duties to an accounting firm, as doing so may be cheaper than retaining an in-house accountant. Other companies find outsourcing the functions of human resource departments, such as payroll and health insurance, as beneficial. When used properly, outsourcing is an effective strategy to reduce expenses, and can even provide a business with a competitive advantage over rivals.

Criticism of Outsourcing

Outsourcing does have disadvantages. Signing contracts with other companies may take time and extra effort from a firm's legal team. Security threats occur if another party has access to a company's confidential information and then that party suffers a data breach. A lack of communication between the company and the outsourced provider may occur, which could delay the completion of projects.

Outsourcing internationally can help companies benefit from the differences in labor and production costs among countries. Price dispersion in another country may entice a business to relocate some or all of its operations to the cheaper country in order to increase profitability and stay competitive within an industry. Many large corporations have eliminated their entire in-house customer service call centers, outsourcing that function to third-party outfits located in lower-cost locations.

First seen as a formal business strategy in 1989, outsourcing is the process of hiring third parties to conduct services that were typically performed by the company. Often, outsourcing is used so that a company can focus on its core operations. It is also used to cut costs on labor, among others. While privacy has been a recent area of controversy for outsourcing contractors, it has also drawn criticism for its impact on the labor market in domestic economies.

What Is an Example of Outsourcing?

Consider a bank that outsources its customer service operations. Here, all customer-facing inquiries or complaints with concern to its online banking service would be handled by a third party. While choosing to outsource some business operations is often a complex decision, the bank determined that it would prove to be the most effective allocation of capital, given both consumer demand, the specialty of the third-party, and cost-saving attributes. 

What Are the Disadvantages of Outsourcing?

The disadvantages of outsourcing include communication difficulties, security threats where sensitive data is increasingly at stake, and additional legal duties. On a broader level, outsourcing may have the potential to disrupt a labor force. One example that often comes to mind is the manufacturing industry in America, where now a large extent of production has moved internationally. In turn, higher-skilled manufacturing jobs, such as robotics or precision machines, have emerged at a greater scale.

While outsourcing can be advantageous to an organization that values time over money, some downsides can materialize if the organization needs to retain control. Outsourcing manufacturing of a simple item like clothing will carry much less risk than outsourcing something complex like rocket fuel or financial modeling. Businesses looking to outsource need to adequately compare the benefits and risks before moving forward.

International Business Machines. " IBM Global Services: A Brief History ."

  • How to Grow a Successful Business 1 of 28
  • The Basics of Financing a Business 2 of 28
  • Factor Definition: Requirements, Benefits, and Example 3 of 28
  • How Much Working Capital Does a Small Business Need? 4 of 28
  • How to Sell Stock in Your Company 5 of 28
  • How SBA Loans Can Help Your Small Business 6 of 28
  • 4 Steps to Getting a Small Business Loan Without Collateral 7 of 28
  • 5 Biggest Challenges Facing Your Small Business 8 of 28
  • Simple Ways to Keep Your Business Going in Hard Times 9 of 28
  • 7 Popular Marketing Techniques for Small Businesses 10 of 28
  • Small Business Is All About Relationships 11 of 28
  • Balance Sheet vs. Profit and Loss Statement: What’s the Difference? 12 of 28
  • Lines of Credit: When to Use Them and When to Avoid Them 13 of 28
  • How to Accept Credit Card Payments 14 of 28
  • Using a Business Credit Card 15 of 28
  • best business credit cards 16 of 28
  • Best Small Business Bank Accounts of 2024 17 of 28
  • The Cost of Hiring a New Employee 18 of 28
  • Raise vs. Bonus for Your Small Business Employees 19 of 28
  • Outsourcing: How It Works in Business, With Examples 20 of 28
  • Commercial Health Insurance: Definition, Types, and Examples 21 of 28
  • Best Health Insurance Companies for Small Businesses for 2024 22 of 28
  • Qualified Small Employer Health Reimbursement Arrangement (QSEHRA) 23 of 28
  • Best Small Business Insurance Companies of February 2024 24 of 28
  • Best Professional Liability Insurance 25 of 28
  • Don't Get Sued: 5 Tips to Protect Your Small Business 26 of 28
  • The 5 Licenses and Permits You Need for Your Home-Based Business 27 of 28
  • The 4 Most Common Reasons a Small Business Fails 28 of 28

business plan for outsourcing company

  • Terms of Service
  • Editorial Policy
  • Privacy Policy
  • Your Privacy Choices

How to Start an Outsourcing Company

by Andra Picincu

Published on 16 Dec 2019

Growing numbers of companies are outsourcing customer support, accounting, inventory management and other services. In 2018, business process outsourcing generated $23.6 billion in the U.S. alone. If you're looking for a business that can be run from home with low startup costs, consider starting your own outsourcing company. In this role, you will act as the middlemen between service providers and organizations that need their services.

The first step to starting an outsourcing company is to research the market and find a profitable niche. Determine what services you want to offer, to where you will outsource these services and whether you want to work from home or set up regional offices.

Find Profitable Outsourcing Business Opportunities

Start by researching the market and look for outsourcing business opportunities. IT security, for example, is a profitable niche; in a recent survey, 47% of respondents said that they outsourced the IT security auditing process in 2017. Furthermore, over 80% of pharmaceutical companies and 70% of financial service executives outsource some of their activities. These services help business owners to free up their time, reduce their expenses and improve customer experience.

Consider your target customers and their needs. Do you plan to work with small or medium-sized businesses or provide outsourcing services for corporations? Either way, choose a niche and learn everything you can about it. This way, you will be better prepared to provide customers with what they need and set clear, realistic requirements for the contractors you work with; for example, if you have a good understanding of digital marketing, you will know what specific skills to look for when screening social media consultants, copywriters, automation specialists and other service providers.

While it's true that you can provide various services, it's better to focus on a specific niche. This way, you'll find it easier to screen and select qualified professionals, reach your ideal customers and promote your business. Look for outsourcing business startup ideas online and try to figure out which services are the most profitable. Take the following options into account:

  • Social media marketing
  • Search engine optimization
  • IT services
  • Payroll processing
  • Accounting and bookkeeping
  • Graphic design
  • Event management
  • Customer support
  • Legal services
  • Health care services
  • Human resources
  • Manufacturing
  • Marketing and PR

Make a Business Plan

Put everything on paper and draft a business plan before launching your outsourcing company. Decide on a business model, research the legal requirements and make a list of outsourcing countries. India, China and Malaysia, for example, are the go-to choices for business process outsourcing and offshore business services. Next on the list are Brazil, Indonesia and Thailand.

As an outsourcing work provider, it's your responsibility to find qualified professionals. You first need to choose a business model. One option is to set up an online platform that connects companies with skilled freelancers. Screen and interview freelancers in other countries before granting them access to your website. Consider local professionals too – there are thousands of U.S.- based web designers, event planners, virtual assistants and other skilled individuals to whom you can outsource work too.

Depending on your budget, you can also set up offices in the foreign countries to which you want to outsource work. The costs will be higher, though. That's why your business plan should cover the startup costs and ongoing expenses, financial projections, capital requirements and other related aspects. Furthermore, it should outline your short- and long-term business goals, mission statement, marketing strategies and other factors involved in starting and running an outsourcing business.

Legalize Your Outsourcing Company

Regardless of what business model you choose, you need to register your company with the state, obtain a tax ID number and get licensed. If you're planning to open physical offices in a foreign country, you may need business licenses and permits there as well. Discuss your options with an attorney before taking the plunge.

If your outsourcing company is located in the U.S., you'll need a general business license and certain permits . Again, this depends largely on how you plan to run your business. If you set up a home office, it's not necessary to apply for zoning or signage permits. Another thing to consider is the legal structure of your business , which can be a sole proprietorship, a partnership or a limited liability company, for example.

Once these steps are completed, open a bank account and get insured. Reach out to freelancers and other business professionals via online ads, social networks and online recruitment platforms. Let them know about the outsourcing business opportunities you're offering, inquire about their rates and ask them to sign a contract that states clearly how they will get paid, their obligations and whether or not they can communicate directly with your customers. Include a noncompete clause in the contract to make sure they will not enter into competition with your business and attempt to take your clients.


  • Branding and Marketing
  • Business and Life Planning
  • wjr business beat
  • Technology and Web
  • Management and Operations
  • social media
  • Inspiration for Entrepreneurs

Five coworkers sitting around a table for a presentation on an iMac.

  • Outsourcing

Outsourcing 101: When and How to Outsource

' src=

As a business owner, you know that you eventually want to scale your business — but how? A big part of scaling is outsourcing some of your work! In this article, we’ll look at how to know when to outsource versus doing it yourself, how you can start going about it, and what some of the benefits are.

What is outsourcing?

Outsourcing is when one company hires another company to do work for them. The alternative is that you handle that work in-house. If you’re a newer business owner — especially a freelancer/solopreneur — you might outsource some of your work to another freelancer, since it’s cost-effective.

For instance, I own a blogging and SEO agency. A few years back, my bookkeeping and accounting became complicated enough that I could no longer manage them on my own and do a good job. So, I hired someone to do it for me.

When to outsource: How do you know it’s the right time?

As a business owner, it’s too easy to fall into the mindset of, “Well, I can just do this myself,” especially because that means you don’t have to spend money for someone else to do it.

But there are absolutely times when it’s smarter to invest in outsourcing instead!

Here’s the simplest scenario: If you have run out of hours in the day, then your choices have become:

  • Stop growing your business because you have no more time, or…
  • Keep growing by outsourcing and paying another person for their time.

Now, what if you still technically have time left in the day? Should you still outsource? Quite possibly. When I’m considering outsourcing, I ask myself two questions:

  • Will this save me time, which means it’ll also save — or make — me money since I’ll have more time to focus on growth?
  • Is there someone who can do this task way better than I can?

If you answer “yes” to either of those questions, then it might be a good time to outsource.

Sign up for 12 new, free  courses on topics from SBA loans to influencer marketing. Verizon Small Business Digital Ready.

Let’s talk about that first question. Let’s say, as an example, that you have a social media management agency . Maybe you spend five hours a week solely editing video content for YouTube, Instagram, and TikTok. That’s a lot of time editing videos! Imagine you hire a video editor and clear up those five hours. You just saved yourself a decent chunk of time. You can then allocate those five hours to sourcing leads and reaching out to potential clients. Now, you’re in a place where you can make money, all thanks to the fact that you outsourced that time-intensive video editing.

Let’s move on to that second question next. Yes, you know your business better than anyone else. But let’s consider our video editing example again. There are professionals who focus entirely on this skill . So, it’s safe to say that they’re probably more adept than you are (and that’s how it should be). So, in this case, not only are you saving time, but the work they’ll produce is going to be of a higher quality, which means your clients will be happier, which means you might even be able to charge more for that content.

This is the magic of outsourcing!

When shouldn’t you outsource?

The simplest way to look at it is this: If outsourcing something won’t give you any sort of return, then it’s probably not a wise idea.

That return might be time, which is incredibly valuable. Or, the return could be money.

So, before hiring someone to help you, ask yourself, “Will outsourcing this save me time or money, or make me money?” If the answer is “no,” rethink your strategy.

The benefits of outsourcing

We’ve already touched on these, but let’s do a quick recap!

  • Outsourcing can save you time, and time is your most valuable asset. You can then use this now-spare time to grow your business, be with your family, or better prioritize self-care.
  • Outsourcing can improve the quality of your work. Hire people who are better at that task than you are!
  • Outsourcing can make you money. Use that spare time to focus on growth, and your business is going to have new opportunities.

I know that outsourcing might seem like an expense. And you might be thinking, “Well, if I just do this myself, then I save all that money!” However, you need to remember that outsourcing is an investment because it’s going to provide some sort of return.

How to start outsourcing

This could be a whole article in and of itself, so I’m going to stick with a few basic tips to get you started with outsourcing.

  • If possible, start with low-hanging fruit. Outsourcing can be scary, I know. Pick something that’s low-maintenance and less sensitive. For instance, video editing is less sensitive because your video editor will only be communicating with you — not your clients or your general online following.
  • Begin small. No one is saying that you have to outsource everything at once. In fact, you probably shouldn’t. Focus on one or two tasks at a time.
  • Shop around. Don’t immediately go for the cheapest option, because remember that if that person or company produces low-quality work, you’re either going to have to spend time fixing it yourself, or pay them (or someone else) to fix it for you. Compare your options to see who’s both cost-efficient and high-quality.
  • Consider trialing two people/companies. I learned this one the hard way. Sometimes, you have to try outsourcing a few times before you find the right fit. If you can manage it with your budget, consider narrowing down your outsourcing options to your top two picks and see who performs better.

Finally, I want to leave you with this, as a gentle reminder: Even if you’re not doing the work, as the owner of your business, you’re still responsible for it. So, should the client not be happy with that work, you have to own it. “The person I outsourced it to messed up” definitely won’t fly! Yes, have a conversation with that person. But as far as our clients and customers go, it all comes down to us, the business owners — whether the end result is good, bad, or downright ugly.

When to outsource: It’s intimidating but worth it

If you’re thinking there’s a learning curve here, you’re right. Outsourcing means you’ll have to learn how to interview, hire, submit payments, train people, and manage them. But once you get over that hump, the benefits of outsourcing make it all worthwhile.

  • benefits of outsourcing
  • when to outsource

' src=

Leave a Reply Cancel reply

You must be logged in to post a comment.

Related Posts


Pradeep Khurana on Smart Ways to Outsource, Tackle Obstacles


Co-Warehousing Saves Money, Improves Efficiency


7 Mistakes That Could Hurt Your Business

business pillars

4 ‘Boring’ Business Pillars Successful Entrepreneurs Can’t Overlook

Financial Model, Business Plan and Dashboard Templates - FinModelsLab

How To Write a Business Plan for Information Technology Outsourcing Firm in 9 Steps: Checklist

By alex ryzhkov, resources on it outsourcing firm.

  • Financial Model
  • Business Plan
  • Value Proposition
  • One-Page Business Plan

Welcome to our blog post on how to write a business plan for an Information Technology Outsourcing firm. With the rapid growth of the IT outsourcing industry, now is a perfect time to explore this thriving market. According to recent statistics, the global IT outsourcing market is projected to reach $481.37 billion by 2022 , with North America accounting for the largest share. So, if you're interested in starting your own IT outsourcing firm, keep reading to discover the essential steps to success.

The first step in creating a business plan for your IT outsourcing firm is to conduct thorough market research. This will help you gain insight into industry trends, client demands, and potential opportunities. By understanding the needs of your target market, you can tailor your services and solutions to meet their specific requirements.

Once you have a clear understanding of the market, it's important to identify your target market and customer needs. This will allow you to focus your marketing efforts and develop a strategy to attract and retain clients. By understanding your customers' pain points and challenges, you can position your firm as a valuable solution provider.

Next, it's crucial to analyze the competition in the IT outsourcing industry. This will help you identify your firm's unique selling points and differentiate yourself from others. By offering a distinct value proposition, you can attract clients who are looking for specialized services and expertise.

With a solid understanding of the market and competition, it's time to define your company's mission and goals. This will set the direction for your firm and guide your decision-making process. A clear mission statement will also help you communicate your brand values to clients and stakeholders.

As you move forward, you'll need to determine the necessary resources and infrastructure for your IT outsourcing firm. This includes acquiring the right talent, technology, and tools to deliver high-quality services. Additionally, you'll need to establish partnerships and collaborations with industry experts to enhance your capabilities.

A detailed financial plan is crucial for any business, and your IT outsourcing firm is no exception. By outlining your projected revenues, expenses, and profitability, you can ensure sustainable growth and financial stability. This plan will also help you secure funding or investments if needed.

Once the financials are in order, it's time to outline the services and solutions your firm will offer. This should align with the needs of your target market and showcase your expertise. Consider offering a comprehensive range of services, including development, programming, testing, and maintenance, to provide end-to-end solutions for client projects.

Lastly, it's essential to assess potential risks and challenges that may arise in the IT outsourcing industry. By identifying these risks, you can develop strategies to mitigate them and ensure smooth operations. This will help you build resilience and adaptability into your business model.

Starting an Information Technology Outsourcing firm can be a rewarding venture in today's fast-paced business landscape. By following these nine steps and creating a comprehensive business plan, you'll position your firm for success and capitalize on the growing demand for IT outsourcing services.

Conduct Market Research

Market research is a crucial step in the process of starting an Information Technology Outsourcing (ITO) firm. It allows you to gather essential information about the industry, market trends, customer needs, and competition. By conducting thorough market research, you can make informed decisions and develop a solid business plan that aligns with the demands of the market.

Here are some important aspects to consider when conducting market research for your ITO firm:

  • Industry Analysis: Begin by analyzing the IT outsourcing industry as a whole. Identify the current market size, growth rate, and key players. Determine the emerging trends and technologies that are driving the industry forward.
  • Target Market: Define your target market segment based on factors such as industry type, company size, geographical location, and specific IT needs. Understand the pain points and challenges faced by potential clients within your target market.
  • Customer Needs: Gain a deep understanding of your target customers' requirements, preferences, and expectations. Conduct surveys, interviews, and focus groups to gather valuable insights. Identify the gaps in existing service offerings and develop solutions to meet those needs.
  • Competition Analysis: Analyze your competitors to identify their strengths, weaknesses, and market positioning. Determine how your ITO firm can differentiate itself and offer unique value to customers. Assess the pricing strategies, service offerings, and customer satisfaction levels of your competitors.

Tips for conducting effective market research:

  • Utilize online resources such as industry reports, market research firms, and government databases for reliable and up-to-date information.
  • Engage in conversations with industry experts, IT professionals, and potential clients to gain insider knowledge.
  • Consider hiring a market research firm to conduct a comprehensive analysis on your behalf, if your budget permits.
  • Regularly monitor industry trends, technological advancements, and changes in customer preferences to stay ahead of the competition.

By conducting thorough market research, you will be equipped with the necessary knowledge to make informed decisions when developing your business plan. This will help you position your Information Technology Outsourcing firm strategically and cater to the needs of your target market effectively.

Identify Target Market And Customer Needs

Identifying your target market and understanding their needs is a crucial step in developing a successful business plan for your information technology outsourcing firm. By clearly defining your target market, you can tailor your services and solutions to meet their specific requirements, increasing the chances of attracting and retaining customers. Here are some key points to consider when identifying your target market and customer needs:

  • Research your potential customers: Conduct thorough market research to identify the industries, sectors, and businesses that are most likely to require IT outsourcing services. Look for patterns and trends within your target market to gain insights into their pain points and challenges.
  • Understand their specific needs: Once you have identified your target market, delve deeper to understand the specific needs and requirements of potential customers within that market. Consider factors such as the size of their projects, their budget constraints, and their desired outcomes. This knowledge will help you tailor your solutions to meet their unique needs.
  • Identify gaps in the market: Analyze your target market to identify any gaps or unmet needs that your information technology outsourcing firm can fulfill. By offering solutions that address these gaps, you can position your firm as a valuable and sought-after service provider.
  • Segment your target market: Divide your target market into smaller, more manageable segments based on factors such as industry, company size, or geographic location. This segmentation will enable you to create focused marketing strategies and develop customized service offerings for each segment.

Tips for Identifying Target Market And Customer Needs:

  • Conduct surveys or interviews with potential customers to gather direct feedback on their specific needs and pain points.
  • Monitor industry trends and stay up-to-date with technological advancements to anticipate and address future customer needs.
  • Regularly analyze your competitors' customer base to identify potential opportunities and areas where you can differentiate your offerings.
  • Stay engaged with industry forums, conferences, and online communities to gain insights into the evolving needs of your target market.

Analyze The Competition

As an Information Technology Outsourcing firm, it is essential to have a thorough understanding of your competition. Analyzing the competition allows you to identify their strengths, weaknesses, and strategies, which can help you develop a competitive advantage for your own firm.

Here are some important steps to analyze the competition:

  • Identify direct competitors in the market who offer similar services and solutions. This could include both local and global firms.
  • Analyze their market share, customer base, and reputation within the industry. Understanding their position in the market can provide insights into potential opportunities and threats.
  • Research their pricing strategies. Compare their pricing models with what you plan to offer. This will help you determine if you can compete effectively in terms of pricing.
  • Evaluate their service offerings and solutions. Look for gaps or areas where you can differentiate your firm by offering unique and innovative solutions.
  • Examine their marketing and sales strategies. Understand how they promote their services, reach out to customers, and build relationships. This will help you develop effective marketing strategies to attract and retain clients.
  • Consider their customer feedback and reviews. Read customer testimonials or reviews to understand their strengths and weaknesses from the perspective of their clients.
  • Stay updated with industry news and trends. This will give you insights into emerging competitors and changes in the market landscape.
  • Attend industry conferences, trade shows, and networking events to learn more about your competitors and their strategies.
  • Take advantage of online tools and resources to gather competitive intelligence. This includes monitoring their websites, social media profiles, and online presence.

By thoroughly analyzing the competition, you can identify your points of differentiation and develop strategies to position your Information Technology Outsourcing firm in the market effectively.

Develop A Unique Value Proposition

Developing a unique value proposition is crucial for the success of your Information Technology Outsourcing (ITO) firm. It is the statement that defines how your firm sets itself apart from competitors and why potential clients should choose you. A strong value proposition helps you differentiate your services and establishes a clear advantage that appeals to your target market.

When developing your unique value proposition, it is important to highlight the key benefits and advantages that your firm offers. These could include factors such as expertise in a particular technology or industry, a proven track record of successful projects, or exceptional customer service. Identifying and articulating these unique qualities will help you stand out in a competitive market.

Tips for Developing a Unique Value Proposition:

  • Understand your target market: Research and analyze your target market to identify their specific pain points, challenges, and needs. Tailor your value proposition to address these factors effectively.
  • Highlight key differentiators: Identify your firm's core competencies and what sets you apart from your competitors. Emphasize these strengths in your value proposition.
  • Showcase success stories: Share examples of successful projects or satisfied clients to demonstrate your firm's capabilities and expertise.
  • Quantify benefits: Whenever possible, quantify the benefits your clients can expect from working with your firm. This could include cost savings, improved efficiency, or faster project delivery.
  • Keep it concise and clear: Your value proposition should be succinct and easily understandable. Avoid jargon or technical language that may confuse potential clients.

Remember, your unique value proposition is the key message that will attract clients and differentiate you from your competitors. Take the time to carefully craft it, ensuring it resonates with your target market and effectively communicates the benefits of working with your Information Technology Outsourcing firm.

Define The Company's Mission And Goals

Defining the mission and goals of your information technology outsourcing firm is crucial for establishing a clear direction and purpose for your business. It provides a roadmap for your team to follow and helps in aligning your efforts towards a common objective. Here are some important steps to define your company's mission and goals:

  • Identify your core values: Start by identifying the fundamental principles that guide your business. These are the beliefs and values that your company stands for and will be the building blocks for your mission and goals.
  • Determine your purpose: Clearly define the purpose of your IT outsourcing firm. What problems do you aim to solve for your clients and what value do you bring to the table? This will help in crafting a compelling mission statement that resonates with your target market.
  • Create a clear vision: Envision where you want your firm to be in the future. What do you aspire to achieve? What does success look like for your company? A well-defined vision will guide your decision-making process and motivate your team to work towards a common goal.
  • Set measurable goals: Once you have established your mission and vision, it's time to set specific goals that can be measured. These goals should be realistic, achievable, and aligned with your overall business strategy. Use key performance indicators (KPIs) to track your progress and make adjustments as needed.
  • Involve your team in the mission and goal-setting process. Their insights and perspectives can contribute to a more comprehensive and collaborative vision.
  • Regularly revisit and update your mission and goals to ensure they remain relevant and aligned with your evolving business environment.
  • Keep your mission and goals concise and easy to understand. This will facilitate effective communication and ensure everyone in your organization is on the same page.

By defining your company's mission and goals, you establish a clear direction for your information technology outsourcing firm. This clarity will not only guide your decision-making process but also inspire and motivate your team to strive for excellence and achieve long-term success.

Determine the Necessary Resources and Infrastructure

When starting an Information Technology Outsourcing (ITO) firm, it is crucial to determine the necessary resources and infrastructure to ensure smooth and efficient operations. This step involves assessing the technical requirements, human resources, and physical infrastructure needed to deliver quality services to clients.

Technical Requirements:

  • Assess the hardware and software needs to support the various IT services your firm will offer.
  • Consider the necessary equipment, such as servers, networking devices, and workstations, based on the scale of your operations.
  • Identify the suitable software tools and technologies required for development, programming, testing, and maintenance services.

Human Resources:

  • Determine the size and expertise of the team needed to handle different projects.
  • Identify the specific roles and skills required, such as software developers, testers, project managers, and technical support staff.
  • Consider hiring experienced professionals or training the existing team to meet the demands of the projects.

Physical Infrastructure:

  • Assess the office space requirements based on the projected team size and operational needs.
  • Consider factors like location, accessibility, and facilities needed to support the team's productivity.
  • Evaluate the need for backup power, network redundancy, and cybersecurity measures to ensure the uninterrupted functioning of the infrastructure.
  • Consider leasing or renting office space initially to minimize costs.
  • Research and select reliable hardware and software vendors to ensure smooth operations.
  • Invest in employee training and development programs to enhance the skills of your team.
  • Regularly assess the scalability of your resources and infrastructure to accommodate future growth.

By diligently determining the necessary resources and infrastructure, your Information Technology Outsourcing firm can provide reliable and efficient solutions to clients, contributing to the success and growth of your business.

Create A Detailed Financial Plan

Creating a detailed financial plan is crucial for the success and sustainability of your Information Technology Outsourcing firm. It allows you to have a clear understanding of your company's financial health and helps you make informed decisions regarding budgeting, investments, and resource allocation. Here are some important aspects to consider when creating your financial plan:

  • Revenue Projections: Estimate your expected revenue based on your pricing structure and the number of projects you anticipate. Consider factors such as market demand, competition, and potential client base. This will help you set achievable revenue goals for your firm.
  • Cost Analysis: Identify and analyze the various costs associated with running your IT outsourcing firm. This includes operational expenses, employee salaries, infrastructure costs, software licenses, marketing expenses, and any other relevant costs. Be thorough in your analysis to ensure accurate budgeting.
  • Profit Margin: Determine the desired profit margin for your firm. Consider industry standards and your competitive positioning while setting your profit margin. Calculate your break-even point and set realistic targets for profit generation.
  • Cash Flow Management: Plan your cash inflow and outflow meticulously to avoid any liquidity issues. Identify potential bottlenecks and create contingency measures to mitigate financial risks. Regularly monitor your cash flow to ensure smooth operations and timely payment of your obligations.
  • Investment Strategy: Determine your investment strategy based on your financial goals and risk tolerance. Assess the need for capital expenditures and allocate funds accordingly. Evaluate potential investment opportunities and consider diversifying your portfolio to maximize returns.
  • Financial Projections: Develop financial projections for the next 3-5 years based on your anticipated growth and market trends. Utilize financial forecasting techniques to estimate future revenue, expenses, and profitability. Regularly review and update your projections to adapt to changing market dynamics.

Financial Plan Tips:

  • Consult with a financial advisor or an accountant to ensure accuracy and reliability of your financial plan.
  • Consider seeking external funding options, such as loans or investors, if needed.
  • Regularly monitor and update your financial plan to reflect actual performance and make necessary adjustments.
  • Keep records of your financial transactions and maintain a systematic accounting system.

Remember, a detailed financial plan provides a roadmap for your firm's financial success. By carefully analyzing your projected revenue and expenses, managing your cash flow effectively, and making informed investment decisions, you can ensure long-term growth and profitability for your Information Technology Outsourcing firm.

Outline The Services And Solutions To Be Offered

Once you have conducted thorough market research, identified your target market, and analyzed the competition, it is essential to outline the services and solutions your Information Technology Outsourcing firm will offer. This step will help you clearly define your offerings and differentiate yourself from your competitors.

1. Identify core services:

  • Start by identifying the core services you will provide to your clients. This could include software development, application maintenance, cloud computing, IT infrastructure management, cybersecurity, data analytics, or any other IT-related services that align with your expertise and target market.

2. Define specialized solutions:

  • Consider offering specialized solutions tailored to specific industries or niche markets. By understanding the unique needs and challenges of your target customers, you can develop customized solutions that provide maximum value and address their pain points effectively.

3. Emphasize technology expertise:

  • Highlight the in-depth technical expertise and knowledge your firm possesses. Showcase the technologies, programming languages, frameworks, or methodologies your team is proficient in. This will help potential clients understand the breadth and depth of your capabilities.

4. Address scalability and flexibility:

  • In today's rapidly evolving IT landscape, scalability and flexibility are crucial factors for success. Outline how your firm can scale its services up or down based on client requirements. Emphasize your ability to adapt to changing technologies, market trends, and project demands.
  • Tip 1: Clearly define your service offerings in a concise and easy-to-understand manner. Avoid technical jargon that may confuse potential clients.
  • Tip 2: Showcase any unique or innovative solutions your firm can provide. Differentiating yourself with cutting-edge offerings can give you a competitive advantage.
  • Tip 3: Consider offering bundled service packages to provide clients with comprehensive solutions. This can save them time and effort in sourcing multiple IT services from different providers.

By outlining the services and solutions your Information Technology Outsourcing firm will offer, you can effectively communicate your value proposition to potential clients, differentiate yourself from competitors, and attract the right customers who align with your expertise and capabilities. This step is crucial for building a strong foundation for your business and positioning yourself as a trusted partner in the industry.

Assess Potential Risks And Challenges

Once you have identified your target market, defined your value proposition, and outlined your services and solutions, it is crucial to assess potential risks and challenges that may arise in your Information Technology Outsourcing (ITO) firm. By evaluating and addressing these risks early on, you can mitigate potential negative impacts and ensure the success of your business. Here are some key areas to consider:

1. Operational Risks:

  • Identify any potential risks related to your daily operations, such as the availability of skilled professionals, project management challenges, or unexpected increases in project scope.
  • Implement strategies to overcome these risks, such as building a diverse talent pool, establishing robust project management processes, and setting realistic expectations with clients.

2. Cybersecurity Risks:

  • Recognize the potential threats your firm may face in terms of data breaches, hacking attempts, or other cybersecurity vulnerabilities.
  • Develop and implement a comprehensive cybersecurity plan to protect your clients' sensitive information and ensure compliance with relevant regulations.

3. Financial Risks:

  • Assess the financial risks associated with running an ITO firm, including fluctuations in project demand, dependency on key clients, or unforeseen expenses.
  • Create a contingency plan and establish financial controls to minimize the impact of any financial challenges that may arise.

4. Legal and Compliance Risks:

  • Understand the legal and regulatory requirements applicable to your ITO firm, such as data protection laws or intellectual property rights.
  • Ensure that your business operates in compliance with these regulations and establish protocols to address any legal issues that may arise.
  • Regularly review and update your risk assessment to adapt to changes in your industry or business environment.
  • Consider obtaining insurance coverage to protect your business against unforeseen risks.
  • Establish strong communication channels with your clients to address any concerns, complaints, or potential risks promptly.
  • Build partnerships with reliable suppliers and vendors to reduce the risk of delays or subpar service quality.

By thoroughly assessing potential risks and challenges in your Information Technology Outsourcing firm, you can proactively address them and ensure the smooth operation of your business. Remember, risk management is an ongoing process that requires continuous monitoring and adaptation to maintain a successful and resilient firm.

In conclusion, writing a business plan for an information technology outsourcing firm in nine steps can help ensure a successful and profitable venture. By conducting market research, identifying the target market and customer needs, analyzing the competition, and developing a unique value proposition, the firm can position itself for success in a competitive industry.

Defining the company's mission and goals, determining the necessary resources and infrastructure, and creating a detailed financial plan will establish a solid foundation for the business. Additionally, outlining the services and solutions to be offered and assessing potential risks and challenges will help mitigate any obstacles that may arise.

By following this checklist, the IT outsourcing firm can attract clients and provide them with top-notch services while generating revenue through the project-based business model. With the increasing demand for IT outsourcing services, the firm has the opportunity to thrive and contribute to the success of its clients.

Excel financial model

$169.00 $99.00 Get Template

Related Blogs

  • Starting a Business
  • KPI Metrics
  • Running Expenses
  • Startup Costs
  • Pitch Deck Example
  • Increasing Profitability
  • Sales Strategy
  • Rising Capital
  • Valuing a Business
  • How Much Makes
  • Sell a Business
  • How To Avoid Mistakes

Leave a comment

Your email address will not be published. Required fields are marked *

Please note, comments must be approved before they are published

  • Write for Us
  • Personal Finance
  • Productivity
  • Prospecting

Blog » Business » Outsourcing Plan: Why You Need It and How to Make It

Outsourcing Plan: Why You Need It and How to Make It

The key component of every business is the ability to adapt. In order to build a successful business, one must monitor the needs of customers, partners, market, budget, company goals and standards and provide a win-win situation for all sides.

It’s a big responsibility and hardly managed on its own. As the business grows, so do its needs, but before you find yourself buried in work and anxiety, consider trying outsourcing as a way to keep things afloat.

Whether you run a small business or a big company, outsourcing allows you to keep up with the competition by giving a certain percent of work to a trained professional or other company for an affordable price. This way you can use the outside resources to reduce costs and implement innovations through great talent and professionals from across the globe. Also, with additional help, you will have the time to focus on the main functions of your business.

What to outsource

Almost any part of a business can be outsourced depending on necessity. There are two main outsourcing processes – BPO and KPO. Business Process Outsourcing (BPO) is a cost-effective way of outsourcing a portion of non-core or critical activities of the business to a third party. It includes a lot of fields, from money management, marketing development, data entry, to customer services, IT help, and online research.

What to outsource

On the other hand, Knowledge Processing Outsourcing (KPO) may not give financial benefits, but it helps in value. It is based on outsourcing the main (core) functions and requires knowledge of expertise – legal services, analytics, business and market research services, data conversion and others.

The most effective choice lies in outsourcing parts you can’t afford, or don’t need, only a few times a month:

  • Professionals for bookkeeping and financial analysis
  • Repetitive tasks – IT tech accounting, systems, network support, customer support, etc.

How to prepare

Don’t rush! The strategy is crucial for efficient outsourcing. To create a well-developed plan, first, you must thoroughly examine your business and set a clear goal. Retain the strong suits of the company; if something is working for you there is no need to change it. If you are running a small business, avoid outsourcing areas that directly impact customers.

Once you have established your main objectives and expectations, consult with your partners and/or an expert. Research and feedback can provide great suggestions for improvement. Complete market and risk analysis to be fully prepared for the possible outcome. Make a list of the criteria for quality, expertise and necessary costs for maintaining a standard you and your customers expect.

Other things to think about are pro and cons of outsourcing to freelancers vs. companies. The decision between the two depends on the type and quantity of work that needs to be done. With a good freelancer, projects can be innovative, precise and cost a lot less than a company would charge.

The problem is they are not always dependable and available all the time, whereas companies offer control quality and 24/7 availability. Even though it seems reasonable to pay more for consistency, remember that nothing is 100% secure. Bigger issues can occur when outsourcing offshore. It is harder to scale a small business with operational issues, delays, and unpredictable taxes. That’s why it’s important to know how to manage your remote workers .

Let's be inbox friends!

Let's be inbox friends!

Drop us your email to receive a weekly digest of our latest blog posts right in your inbox. We share knowledge on billing, invoicing, and how to succeed in your business.

Our newsletter comes out each Tuesday, it's spam-free and you can unsubscribe anytime with a click.

Please check your inbox to confirm your subscription!

How to choose.

When it comes to choosing the right option for outsourcing , keep in mind that the responsibility is mutual. Don’t hire the first party you contact. There are a few factors to consider before making a deal:

  • Flexibility
  • Language barriers

To avoid mistakes, always check credentials and construct a solid contract with outlined specifics:

  • Clear expectations
  • Defined roles and rights
  • Exit strategy – termination or date of renewal

Communication is incredibly important, at every step of the way. Secure access to the latest technology for easier workflow and better results. Regular checkups and a common work platform ensure a more productive environment and lower the risk of delays and mistakes. So make sure you choose the right software solutions for your business.

What to avoid

Considering the time, we usually spend online, every layman can determine if there’s something wrong with a certain website. They can discover a hoax lurking behind the corner. Your professional expertise gives you, even more, experience in this area.

So, if your gut is telling you that there’s something is wrong with a company that you are considering making your temporary partner, don’t ignore the alarming signs. Minding your own safety is quite important when outsourcing, so you should take appropriate precautionary measures and protect yourself.

The best way to do so is to make a list of things you should check every time you get in touch with an unfamiliar business. First of all, you should pay attention to the URL – if there are any irregularities there, chances are you found a fraud.

Browsers like Chrome, Internet Explorer, Firefox and Safari can help you with this – when a website is legit, they give their approval by placing a green bar before the URL. Otherwise, you will be able to notice a red warning that states “not secure”.

Furthermore, you should do some private snooping. It’s quite common that businesses have a testimonial section that quotes customers and businesses they’ve worked for in the past. If you want to be sure that a certain company is legit, you should simply get in touch with listed names and ask for their opinion.

Finally, the last item on your checklist should be social platforms. Primarily, if a business you’re evaluating doesn’t have accounts on social networks, there must be something wrong with it – every serious company is active on them.

However, if you find links that lead to profiles, it will be simple to spot if a business is legit. Both satisfied and unsatisfied users don’t hesitate when leaving their comments and rates, so after only a couple of minutes of scrolling, you’ll be able to know what to expect.

Overall, outsourcing is an excellent aid for expanding a business. Although it comes with some risk, the reward is a lot higher, if properly executed. The only question is: “Do you want to add outsourcing to your operational plan?”

Free sign-up for Invoicebus

  • Latest Posts

Catherine Park

Catherine Park

Latest posts by catherine park ( see all ).

  • Learn the Secrets to Making Your Business Better Than Your Competition - July 1, 2019
  • How to Jumpstart a Business Using Minimal Financing - October 12, 2018
  • Outsourcing Plan: Why You Need It and How to Make It - November 24, 2017

Get Paid Online

  • Search for:

A little something about you, the author. Nothing lengthy, just an overview.

  • Expert Profile
  • Experts & Contributors
  • Invoicebus Blog
  • Register New Author
  • Sorry to see you go…
  • Write for Us: Guest Blogging Guidelines
  • You’ve subscribed!
  • October 2023
  • January 2023
  • November 2022
  • October 2022
  • September 2022
  • January 2022
  • February 2021
  • December 2020
  • November 2020
  • September 2020
  • August 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • Accounting (17)
  • Billing (16)
  • Business (125)
  • Invoicing (28)
  • Marketing (65)
  • Personal Finance (6)
  • Productivity (29)
  • Prospecting (12)
  • Taxation (10)
  • Valid XHTML
  • Terms Of Service
  • Privacy Policy
  • Refund Policy
  • How to Create HTML Template
  • PDF Invoice Generator
  • Invoice Templates
  • Invoicing Guides
  • Experts & Contributors

Drop us your email to receive a weekly digest of our latest blog posts right in your inbox.

To confirm your subscription, please check your email.

Beepo_probe CX

  • Accountants
  • Accounts payable
  • Collections officer
  • Administration assistants
  • Content moderators
  • Executive assistants
  • Virtual assistants
  • Bookkeepers
  • Copywriters
  • Graphic designers
  • Video editors
  • Chat management
  • Customer service representatives
  • Data analysts
  • Data encoders
  • Digital marketing specialists
  • Marketing specialists
  • SEM specialists
  • SEO specialists
  • Social media specialists
  • Finance administration assistants
  • Financial advisors
  • Financial analysts
  • Procurement officers
  • Tax advisors
  • HR specialists
  • Talent acquisition specialists
  • Payroll processors
  • Inbound sales support
  • Help desk support specialists
  • IT service management support specialists
  • Service desk support specialists
  • Systems administrators
  • Database administrators
  • Java developers
  • .NET developers
  • PHP developers
  • Web designers
  • Web developers
  • Wordpress developers
  • HR services
  • Accounts receivable
  • Broker support officers
  • Financial paraplanning
  • Insurance claims processors
  • Loan processors
  • Accounts assistant
  • Marketing coordinators
  • Property management assistants
  • Strata management assistants
  • Real estate sales support
  • Appointment setters
  • CAD operators
  • NDIS administration assistants
  • NDIS bookkeepers
  • Real estate account assistants
  • Real estate executive assistants
  • Real estate marketing coordinators
  • Reduced cost
  • Improved staff satisfaction rates
  • Expert support
  • Business growth
  • Improve business flexibility
  • Access a global talent pool
  • eBooks and Case Studies
  • On-Demand Webinars
  • Templates and Checklists
  • Visit our blog homepage
  • Customer Experience
  • HR & Recruitment
  • Trends & Guides
  • Outsourcing
  • Real Estate
  • By Industry
  • By Role Type
  • Accounts receivable Collections officer
  • Administration support Administration assistants Content moderators Executive assistants Reservations booking agent Virtual assistants
  • Bookkeeping Bookkeepers
  • Creative services Copywriters Graphic designers Video editors
  • Customer service Chat management Customer service representatives Lead generation specialists -->
  • Data management Data analysts Data encoders
  • Digital marketing Digital marketing specialists Marketing specialists SEM specialists SEO specialists Social media specialists
  • Finance Finance administration assistants Financial advisors Financial analysts Procurement officers Tax advisors
  • HR services HR specialists Talent acquisition specialists
  • Payroll processing Payroll processors
  • QA testing QA testers
  • Sales support Inbound sales support Outbound sales support -->
  • Technical support Help desk support specialists IT service management support specialists Service desk support specialists Systems administrators
  • Web development Database administrators Java developers .NET developers PHP developers Software developers Web designers Web developers Wordpress developers

2023 Accounting Trend Report

Explore future proofing your firm in current industry conditions

  • Accounting Accountants Bookkeepers Payroll processors

Customer Service Best Practices Guide

39 questions to ask any potential outsourcing provider to be able to drill down on their operations.

  • Administration support Administration assistants Content moderators Enrolment administrators Executive assistants Reservations booking agent Virtual assistants

Customer Service Best Practices Guide

33 questions to ask any potential outsourcing provider to be able to drill down on their operations.

  • Broker support Broker support officers
  • Insurance claims processing Insurance claims processors
  • Loan processing Loan processors
  • More specialisations Finance administration assistants Financial advisors Financial analysts Procurement officers Tax advisors

The 2022 Financial Services Industry Trend Report

Key factors impacting the industry and the rising trend in outsourcing

  • Administration support Administration assistants Executive assistants Reservations booking agent Virtual assistants
  • Real estate
  • Accounting Accountants NDIS bookkeepers Payroll processors

Staff Attrition in NDIS Plan Management

A guide on overcoming high staff attrition in NDIS plan management

  • Accounts Accountants Accounts assistants Bookkeepers Payroll processors
  • Marketing Digital marketing specialists Marketing coordinators Marketing specialists SEM specialists SEO specialists Social media specialists
  • Property management Property management assistants Strata management assistants
  • Sales administration Inbound sales support Outbound sales support --> Real estate sales support

Real Estate Outsourcing

A must-read guide in building a sustainable and successful agency

Outsourcing for your Tech Company

A case study on how a tech company grew new client acquisition by 72%

  • Reservations booking agent
  • Outbound sales support
  • Lead generation specialists
  • Enrolment administrators
  • Software developers

Flexibility and Availability

Save up to 70% on employment costs

A reputable outsourced provider can help ensure your outsourced journey is optimised for success

Increase employee satisfaction and decrease staff attrition rates

Foster sustainable business longevity by reinvesting into the growth of your business

Help your business become more agile and flexible by opening up 24/7 availability

Access a global talent poo

Give your business the ability to tap into a global talent pool to source candidates from anywhere in the world.

eBooks and Case Studies

Your 8-step implementation plan to ensure outsourcing success


So, you’re interested in outsourcing for your business. You understand what it is and how it works, but you are not sure how to effectively plan your outsourcing journey to guarantee a successful project implementation.

Outsourcing should be considered the same as any other business investment. You wouldn’t want to invest your team’s time and money into a business venture without a clear-cut implementation plan and best practices in place. It requires an in-depth look and understanding of your business functions. You need to identify exactly where outsourcing will benefit your business and where you are going to see the highest return on investment when selecting an outsourcing model.

The below 8 steps will help you and your business set up an effective, all-inclusive outsourcing implementation plan.

Find out if your business is ready for outsourcing

Before reaching out to a third-party outsourcing provider or communicating changes to your staff, it's essential to establish whether your business has the systems and best practices in place to support an outsourced model.

It's important to reflect on your business processes and ask yourself the following questions:

  • Does your business use cloud-based tools and platforms?
  • Are your business processes clearly documented to train new employees easily?
  • Is your CRM and relevant software accessible in a remote work setting or in a different country such as the Philippines?
  • Are your data security protocols and systems safe?

If you answered ‘no’ to the above questions, your business might need to invest more in getting itself   outsource ready .

If you answered ‘yes’ to all of these questions, outsourcing could be the solution for you and it's time to begin discussions with a provider about outsourcing services.

Once you've decided to  integrate an offshore team into your business , it's also important to share the decision with your existing team and ensure you manage any initial push back straight away.

The alternative is to sit on the decision and then surprise your team when you start making changes to assist with onboarding your new offshore team member. Do this and you risk losing their trust and will ultimately set your outsourcing journey up for failure. It's most effective to engage your team upfront, share your ideas, vision with them and ask them to think about how an outsourced team could help them in their job and day-to-day tasks.

Identify what tasks you want to send offshore

It's important to go through all internal business processes and tasks and  figure out which ones will produce the most return on investment by outsourcing .

This step can be broken down into two parts:

The tasks review

Start by reviewing all your business processes and tasks . For smaller businesses, this may be easier. For larger, consider breaking down the tasks within a function or department that may not be hitting business goals or underperforming.

You want to collate existing job or position descriptions and start differentiating the higher-value tasks focused on strategy and relationship building vs the lower-value tasks that are more administrative, rule-based and repetitive.

Then, consider monitoring the time it takes staff to complete business processes by filling out a staff activity log. It's important to let your employees know that this is crucial to understanding each activity's time consumption within their own workday, not micro-management. Reiterating that in the long run, this step will help in allowing them to focus on what they were hired to do vs what is more data-entry and demotivating to some.

Once you have efficiently performed this task review, you'll have a good understanding of what tasks are taking up too much of each employee's time and are ready to move to the next steps involved in developing a business plan for an outsourcing project.

Tasks best suited for outsourcing

Now your business needs to take this task review list and figure out  what tasks are best suited for outsourcing . It's not as simple as just doing the task review and outsourcing each one of those tasks. This process could even help you identify alternative inefficiencies in your business, such as reporting structures, delegating tasks and so on.

To understand what tasks would make your business more efficient overall by outsourcing, start ranking each task against each other in terms of "frequency and complexity".

For complexity, ask yourself:

  • How complex is this task in comparison to other tasks within the department or business?
  • What technical skills are required to complete this task?
  • How unique is this task to the organisation and would it be difficult to train others in this task?

For frequency, ask yourself:

  • How often is the task completed in comparison to other tasks within the department or business?
  • Is it worth dedicating a full-time role to just this one task, or could this task be grouped with others to create a role?

Once you've   measured each task's complexity and frequency , you'll then generally have a good idea of which tasks to implement in your outsourcing timeline.

There's no point deciding to bring on outsourced resources when you don't know what tasks they will complete for you. This task review will have given you a pretty good understanding of what you need to look for in an outsourced candidate.

You've analysed how to implement outsourcing. You’ve got your business 'outsource ready' and now have a list of tasks that are suited to outsourcing. You're now ready to engage in discussions with an outsourcing provider.

Find the right outsourcing provider

You have already asked yourself many questions on your outsourcing journey – what is an outsourcing plan? How do you implement outsourcing? What steps should you take when outsourcing a project?

Now it’s time to consider the best practices for identifying the perfect outsourcing partner.

Finding the right outsourcing provider with the correct model for your business and your work practices is crucial for success. Without being familiar with the Business Processing Outsourcing (BPO) industry, you could find yourself in a situation where you don't understand what to expect from providers, whether what they are selling represents good value and whether or not you're opening your business up to unnecessary risk.

To ensure you're choosing the right provider for your business, start by asking the right questions .

These questions should be covering all the important aspects about your potential provider and cover topics such as:

  • What tools do you have in place to ensure staff remain online and productive 100% of the time?
  • Do you operate 24/7?
  • How do you supervise my outsourced staff?
  • What public holiday schedule do your staff work to and how do you manage the additional costs of public holidays?
  • Can you detail your standard security policies and infrastructure to  manage data, security and privacy ?
  • How do you ensure staff cannot access cloud-based systems and applications outside of the office?
  • How do you review staff performance?
  • How do you measure employee satisfaction?
  • What productivity reporting do you provide as a standard?
  • How does your recruitment process ensure you find the best candidate for my role?
  • What are testing standards for applicants during the recruitment process?
  • How do you manage currency fluctuations and will my invoice go up and down each month?
  • Do you have an Account Manager in Australia?

When you're shopping for an outsourcing provider, make sure you go to any sales meeting armed with these questions and you'll very quickly learn who is the right match for your organisation.

Get your technology right

Today's technology is what makes outsourcing such a practical business solution. The tech is incredibly cost-effective and easy to set up and operate. All you need is a computer, headset, webcam and web conferencing platform (we use  Zoom ).

From there, you need to move your business processes and documentation to the cloud. This will ensure your offshore employees have access to everything they need and will help streamline communication between your onshore and offshore teams.

Learn more about where to spend your tech budget in the video below:

Create a job description and define your key results areas

The outsourcing model that we've found ensures a successful project implementation is to contract an outsourced staff member on a full-time basis who works for your business 100% of the time.

If you decide this model works best for you, you'll need to supply your outsourcing provider with a detailed outline of the kind of person you're looking for and what sorts of tasks you'll need them to complete.

The best format for this is a  Job Description (JD)   and a  Key Results Area (KRA)   document. Put simply; the JD outlines what skills you're looking for and what tasks you want the employee to complete. The KRA document outlines how well you expect those tasks to be completed.

Your 8-step implementation plan to ensure outsourcing success

Develop a training plan

A widespread concern for businesses looking to outsource for the first time is 'how long will they take to train'? The answer is, if your outsourced team is trained correctly, then it should not take longer than if you were to train someone locally.

You need to be very clear about your training goals and how you're going to deliver them. Your offshore team member will require training about your business's specific inner workings - and this is down to you.

It's crucial that for your outsourced team to work, your business needs to invest time and effort in training them across all of your processes and systems. Without this investment, your outsource team may not meet your expectations.

Manage your offshore team

The set and forget technique doesn't work with the management of anyone, let alone an offshore team. You need to have a practical management framework within your business that is consistently used to manage your outsourced staff.

With the right outsourcing provider, you will have the support of your offshore management team on an operational level.

This can involve the following:

  • IT deployment and support
  • KPI development and performance management
  • Ensure staff productivity levels are high through monitoring work habits
  • Employee engagement activities
  • Proactive advice and best practices on optimising overall performance
  • Management of Philippines-specific legal and compliance matters
  • Ongoing recruitment, HR, payroll, facilities management and IT support
  • Expat settlement assistance.

Their on-the-ground operations management allows you to focus purely on the work and business processes, retaining as much control of productivity and quality as you require.

You can manage your offshore time via online communication tools and  WIP documents .

Grow your outsourced team

Once you've hired your first outsourced team member, you'll very quickly become comfortable with how it all works and start to see for yourself the incredible benefits the outsourcing process can have for your business if it's done correctly.

Once you get it right once, you'll begin to see other opportunities within your business where   outsourcing   could play a big part in improving processes, customer experience and, ultimately, kickstarting business growth.

Interested in getting started with your outsourcing journey?

Download our outsourcing toolkits ( part 1 and part 2 ) for a detailed guide on setting yourself up for outsourcing success.

This blog was updated on February 04, 2022

Airplane 3

Business growth tips delivered to your inbox weekly


Building a sustainable business model through outsourcing

About Us  |  Our People  |  Outsourcing  |  Media  |  FAQs

Beepo Probe CX 2023 Reverse

Copyright Beepo 2023 |  Terms & Conditions  |  Privacy Policy  |  Sitemap


A new business model for outsourcing enterprises

By: Infinityn on Mar 28, 2022 11:59:22 AM

Featured Image


It’s no news that outsourcing is a trend that has been red-hot. However, we see an emerging sub-trend in an area that has not traditionally been regarded as a business function to be outsourced. This paper examines the possibilities and shows cases of outsourcing complex growth functions from enterprise sales and marketing to external providers.

Despite the growth of outsourced services having slowed down over the past few years, the global market size has doubled in total value. Between 2000 and 2019, the total valuation of services have risen to a staggering 92.5 billion dollars annually 1 . Outsourcing has been redrawing core business functions and, in many industries, and it has redefined the way business is done. Over the years, the outsourced business functions that have enjoyed the highest popularity have been changing; IT outsourcing has been making up a good chunk of the outsourcing pie, accounting for approximately two-thirds of all activities by contract value, according to Statista. However, IT outsourcing has not been rapidly growing in the 2010s, having even consolidated in some years of the past decade. The expansion in outsourcing has been driven by another segment. 

1 Source: Business process outsourcing (BPO) worldwide, 2019.  

This segment, this outsourcing-function that is showing a rapid increase year-on-year - more abrupt than any other functions - is customer experience/customer care. According to the above-cited Statista report, this segment is expected to almost double in size from an already impressive 17.45 billion dollars per year in 2017 to over 30 billion in just 10 years. 

The expansion of this function is intriguing for us, because it is an early indication for the rise of growth-process outsourcing (GPO): the outsourcing of B2B sales and marketing functions. To be fair, outsourcing sales and marketing activities isn’t at all entirely new: the most obvious “predecessor” of GPO is outsourcing telemarketing or telesales. However, telemarketing and telesales are only small pieces of the growth-puzzle and they are generally inadequate for selling complex, high ACV products. Outsourcing B2B sales and marketing functions as a part of growth-process is qualitatively different, as we will see later.

Growth Process Outsourcing Defined

Growth Process Outsourcing is a framework for outsourcing complex enterprise marketing and sales processes. In a B2B enterprise setting, marketing and sales are increasingly conducted in an account-based fashion, and account-based growth commonly refers to the “combined” stack of marketing, sales and customer success activities. In other words, GPO builds on the already established practice and framework of business process outsourcing, and takes BPO to new grounds: scaling account-based marketing (ABM) and sales activities, which are also referred to as account-based growth activities. It complements, in an agile way, the account-based growth processes of enterprises.

GPO is similar to BPO in many ways, so it’s worth discussing the differences between the two concepts. A major difference between BPO and GPO is that most of the GPO elements follow a less exact process, and it also includes a higher element of research and consultative work . GPO blends research and execution and as such, it becomes somewhat different in nature from traditional BPO setups. Other key differences are highlighted in the table below:

In order to understand the nature, significance and possibilities of GPO, it’s worth briefly discussing the proven methodology of account-based growth. Account-Based Growth (ABG) is a systematic process for aligned B2B marketing-sales initiatives in the enterprise sphere, especially the technology and service sector. ABG evolved from account-based marketing (ABM). ABM is a B2B marketing methodology that encourages shifting the marketing focus from lead-generation to a more holistic, account-targeted, personalized and relevant marketing that results in better buying experiences and is thus more effective. 

We often refer to ABG as Agile ABG because of its nature. ABG requires multidisciplinary teams, it runs in sprints and is very similar in nature to agile methodologies known in software development and marketing. Because of its agile nature, ABG “sits well” in a tech-business setting, where it is usually deployed. In the remainder of the article, we will sometimes refer to ABG as Agile ABG. 

While account-based marketing (ABM) has many successful applications and is regarded as the optimal B2B marketing methodology in high annual-contract value settings, it has one shortcoming: the original framework does not adequately address the issues around sales-marketing alignment, which is a common and major “complaint” of enterprise sales and marketing leaders. Lack of alignment between sales and marketing departments results in data- and information silos, leading to suboptimal campaigns in both departments. 

Account-based growth comes to the rescue as a methodology that is more holistic in nature and encompasses both marketing and sales development processes and even the later stages of the customer journey: sales and customer success. ABG also aids in aligning goals, defining metrics and minimizing silos between departments. On the one hand, account-based growth is a cure for teams running account-based marketing and experiencing inter-department misalignment. It is also a concise and straightforward framework for optimal B2B growth. In later stages of account-based growth, when customer success processes and teams are also involved in ABG projects, the result is an even more efficient growth cycle and a more satisfying buyer-experience on the buyers’ end. Naturally, a more elevated customer experience also ends up fueling growth by making customer retention and upselling easier. 

These are the high-level results and benefits of using the more holistic approach of account-based growth. To make it easier to grasp, we are listing some common activities that take place in the scope of ABG projects or sprints:

  • Account-based intelligence: uncovering and unifying important sales- and marketing information from various technology tools as well as people - account executives - to gain new insight and shed light on new opportunity
  • Creating and running efficient marketing campaigns using the existing tech stack in a more synchronized way. 
  • Doing human-based sales-development: outreach to existing or new prospects. 


ABG outsourced is GPO

For enterprises looking to implement account-based growth, using an external consultancy or service provider is a viable approach. By its nature, ABG has a consultative side with “fixing broken parts” in sales and marketing and as such, it’s often better done by an “outside eye” that is void of any blind spots. 

In addition, an external provider will likely have more experience implementing an Agile ABG program, which saves time and resources. Lack of resources is a third reason companies outsource; internal sales and marketing resources are often tied up in existing campaigns and initiatives and it can be nearly impossible to find the time, focus and dedication for an ABG sprint internally. 

The framework for cooperation in providing Agile ABG services (and subsequently using ABG services) is Growth-Process Outsourcing. The way companies have been using GPO is doing agile, small-scale pilot projects that are limited to specific geographies or products or other segments of growth activities. 

This is a common process for outsourcing a growth process: 


The pod’s members learn the product, industry and culture of the client and familiarize themselves with the various data sources where account data is found.


As we’re seeing a wider adoption of account-based marketing and rapid spread of marketing- and sales technology, so are problems popping up around inter-departmental alignment in growth teams, data silos and sub-optimal performance on both sales- and marketing fronts. An agile approach, called account-based growth is a holistic mindset and methodology that focuses on integrating key growth processes and eliminating data- and information silos. ABG can be a challenge to implement from inside the organization. This opens the doors for the emergence of providing ABG as a consulting- and implementation service, namely Growth-Process Outsourcing. We see GPO as an immense opportunity for providers who have experience in marketing and sales services at the enterprise level, as well as for their clients. 



What makes the Agile Account-Based Sales Development special?

Aug 2, 2023by Infinityn International

In today's highly competitive business landscape, Sales teams are constantly searching for innovative strategies to...

Enhancing sales success: The Agile ABSD Pod

Aug 1, 2023by Infinityn International

Traditional lead generation methodologies are losing prominence as new approaches revolutionize the world of business...

Versatile driver of growth: Enhancing Customer Experience

May 30, 2023by Dora Pusztai

Businesses across different sectors and industries are facing hardships amidst the economic haze that has been looming...

business plan for outsourcing company

Outsourcing Business Plan Sample PDF Example | Free Download Presented by BizMove

Free business plan PDF download

Watch This Video Before Starting Your Outsourcing Business Plan PDF!

Checklist for Starting a Outsourcing Business: Essential Ingredients for Success

If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business. It features all the essential aspects you must consider BEFORE you start a Outsourcing business. This will allow you to predict problems before they happen and keep you from losing your shirt on dog business ideas. Ignore it at your own peril!

For more insightful videos visit our Small Business and Management Skills YouTube Chanel .

Here’s Your Free Outsourcing Business Plan DOC

Free book for you: how to start a business from scratch (pdf).

Copy the following link to your browser and save the file to your PC:


The Mouse Trap

A mouse looked through the crack in the wall to see the farmer and his wife open a package. “What food might this contain?” the mouse wondered. He was devastated to discover it was a mousetrap.

Retreating to the farmyard, the mouse proclaimed the warning: “There is a mousetrap in the house! There is a mousetrap in the house!”

The chicken clucked and scratched, raised her head and said, “Mr. Mouse, I can tell this is a grave concern to you, but it is of no consequence to me. I cannot be bothered by it.”

The mouse turned to the pig and told him, “There is a mousetrap in the house! There is a mousetrap in the house!” The pig sympathized, but said, “I am so very sorry, Mr. Mouse, but there is nothing I can do about it but pray. Be assured you are in my prayers.”

The mouse turned to the cow and said, “There is a mousetrap in the house! There is a mousetrap in the house!” The cow said, “Wow, Mr. Mouse. I’m sorry for you, but it’s no skin off my nose.”

So, the mouse returned to the house, head down and dejected, to face the farmer’s mousetrap alone.

That very night a sound was heard throughout the house – like the sound of a mousetrap catching its prey. The farmer’s wife rushed to see what was caught. In the darkness, she did not see it was a venomous snake whose tail the trap had caught. The snake bit the farmer’s wife. The farmer rushed her to the hospital and she returned home with a fever.

Everyone knows you treat a fever with fresh chicken soup, so the farmer took his hatchet to the farmyard for the soup’s main ingredient. But his wife’s sickness continued, so friends and neighbors came to sit with her around the clock. To feed them, the farmer butchered the pig. The farmer’s wife did not get well; she died. So many people came for her funeral, the farmer had the cow slaughtered to provide enough meat for all of them.

The mouse looked upon it all from his crack in the wall with great sadness.

So, the next time you hear someone is facing a problem and think it doesn’t concern you, remember, when one of us is threatened, we are all at risk. We are all involved in this journey called life. We must keep an eye out for one another and make an extra effort to encourage one another. Each one of us is a vital thread in another person’s tapestry.

A curious child asked his mother: “Mommy, why are some of your hairs turning grey?”

The mother tried to use this occasion to teach her child: “It is because of you, dear. Every bad action of yours will turn one of my hairs grey!”

The child replied innocently: “Now I know why grandmother has only grey hairs on her head.”

Wrong Email Address

A couple planed to go on vacation but the wife was on a business trip so husband went to the destination first and his wife would meet him the next day.

When he reached his hotel, he decided to send his wife a quick email.

Unfortunately, when typing her email address, he mistyped a letter and his note was directed instead to an elderly preacher’s wife whose husband had passed away only the day before.

When the grieving widow checked her email, she took one look at the monitor, let out a piercing scream, and fell to the floor in a dead faint.

At the sound, her family rushed into the room and saw this note on the screen:

Dearest Wife,

Just got checked in. Everything prepared for your arrival tomorrow.

P.S. Sure is hot down here.

You Will Never Lose Your Value

A popular speaker started off a seminar by holding up a $20 bill. A crowd of 200 had gathered to hear him speak. He asked, “Who would like this $20 bill?”

200 hands went up.

He said, “I am going to give this $20 to one of you but first, let me do this.” He crumpled the bill up.

He then asked, “Who still wants it?”

All 200 hands were still raised.

“Well,” he replied, “What if I do this?” Then he dropped the bill on the ground and stomped on it with his shoes.

He picked it up, and showed it to the crowd. The bill was all crumpled and dirty.

“Now who still wants it?”

All the hands still went up.

“My friends, I have just showed you a very important lesson. No matter what I did to the money, you still wanted it because it did not decrease in value. It was still worth $20.

Many times in our lives, life crumples us and grinds us into the dirt. We make bad decisions or deal with poor circumstances. We feel worthless. But no matter what has happened or what will happen, you will never lose your value. You are special – Don’t ever forget it!

Today, experts Agree that more businesses face an unstable business environment. Improvements in information processing and telecommunications have made major changes in most businesses. In addition to this, improvements in transportation and the development of foreign economies (specifically in Europe and Asia) have created a global market and surpassed certain businesses. Additionally, as consumers are exposed to more choices, loyalty is becoming less important than it once was; a slightly better price or a temporary lack of inventory can easily result in the loss of customers. Competitors can also alter rapidly, with new ones appearing out of nowhere (often this means another side of the world ). With the instability of the global market, it is vital that you make strategic planning part of your overall company strategy. Proactive Versus Reactive Management. A few decades back, you can set and maintain a business by reacting to and meeting changes in tastes, prices and costs. This reactive type of direction was frequently enough to keep the company going. However, today changes occur fast and come from a number of directions. By the time a reactive supervisor can make the necessary adjustments, they might lose many clients -- possibly for good. Proactive Preparation is the expectation of future events. Decisions are based on forecasts of future conditions of the environment as opposed to responses to several crises as they occur. Proactive planning within an unstable, technology-driven business environment is important to ongoing success in almost any endeavor. Rather than responding to the situation as it changes, proactive preparation requires you to analyze environmental forces and make resource-allocation decisions. By doing this you will take your business where it ought to be in the next month, year and decade. Barry Worth, a consultant specializing in small business management, puts it this way: Today's entrepreneur must be a business proprietor. Anything built in today's business environment must have a step-by-step blueprint or strategy on the best way best to reach success. The blueprint for today's business owner is a business plan. The Need To Get a Strategic Plan. Planning plays a significant role in any business enterprise. It may make the difference between the success or failure of your business. You need to plan carefully before investing your time and effort, especially, your cash in any business venture. The demand for a plan is best exemplified by the following situation -"A Tale of 2 Firms." Two franchises (A and B) were started by individuals who had worked in direction in much bigger companies. While Franchise A supplied a item and Franchise B per service, the outcome of both franchise systems were marketed exclusively in the United States prior to the current owners became more involved. The output of both was readily available in other developed countries as well. The franchises opened about the same time and franchisee had a strong market presence, nor do they present. Today Franchise B is broke. By contrast, Franchise A is selling products in the Midwestern United States and in Europe. What was the Deciding difference in the two franchises' achievement? You probably expect it to be that one had developed a tactical plan and the other had not; however, it is not this easy. Several factors can influence the result of a business venture. There were many similarities between the franchises, but there were also many gaps. Most notably, Franchise A marketed a solution and Franchise B per service (although this doesn't clearly limit choices ). Another difference was that Franchise A had a carefully thought-out plan. The investors understood as they looked to get a franchise partner they wanted to locate a product that could satisfy global markets and a franchiser who'd support that kind of sales effort. These investors were established in the Midwest, but negotiated for exclusive rights to export the franchiser's product. Once they had acquired the franchise, as soon as they started to establish their business domestically, they also began to contact government specialists from the U.S. Department of Commerce as well as teachers and local managers with global experience. Clear plans Were developed outlining how they would position, market and distribute the product and which overseas markets would be targeted first. Even as they had been building sales in a single European market, they had been attending trade shows and preparation entry strategies others. By contrast, The second investor (Franchise B) started his company strictly because he wished to leave a former employer. Of course many small businesses get started this waynonetheless, in this case no investigation of franchising options was done. The business was located in an area which, as it turned out, included virtually no consumers for the kind of support being offered. When this error was accomplished, it had been too late to move--the investor only didn't have the cash or the desire to risk starting again. Other examples Further show the need for strategic planning and for developing a clear business plan. The owner of a business that seemed to be doing quite well in just two places was going to start in a third. The authors have been called in to develop a benefits policy and found cash flow problems that may be found just after operations had begun in the new location. After assessing the situation, a growth and financial plan was developed for the sound locations only. In another case, the authors determined that a company had purchased more equipment than was needed to do the current workload. After careful Analysis, plans to make further purchases were put on hold, along with the equipment available was used efficiently to meet immediate demands. A business Enterprise is to complex to assume that failure to develop a sound organization Plan is going to be the reason behind problems But this failure often counts Among the variables contributing to business issues. As Worth has said, "Being a company entrepreneur now takes constant vigilance to be able to Be able to take advantage of new opportunities and the availability of new Technology and information as they become." The first step in Doing this is to have a plan.

  imitation-jewelry immigration-consultant income-tax iphone-repair iptv irrigation it-onsulting iv jam janitorial japan-surplus jeans jerky jet-ski-rental jewelry-making job-consultancy job-placement joinery journal juice jumper-rental junk-hauling junk-removal junk-shop junkyard jute-bag kaju karaoke-dj kayak-rental kebab keto kettle-corn key-cutting kiosk kitchen kitchen-remodeling korean-bbq kurti lash lawn-care lawn-fertilizer lead-generation leaf-raking leather led-bulb lip-balm lipgloss lipstick liquidation locksmith logo-design lottery lounge-bar lumber-yardhtm lumper-service lunch-truck lunch-truck lure-making luxury-car-rental luxury-watch

Copyright © by Bizmove.com. All rights reserved.

Don't bother with copy and paste.

Get this complete sample business plan as a free text document.

Outsourced Computer Support Business Plan

Start your own outsourced computer support business plan

Austin Kinetic

Executive summary executive summary is a brief introduction to your business plan. it describes your business, the problem that it solves, your target market, and financial highlights.">.

Austin Kinetic is an information technology consulting firm serving the Austin Metro area with top quality engineers who have a keen interest in customer satisfaction.  The time is right for consulting companies to flourish.  With the recent gains in the stock market, capital is again becoming available for IT infrastructure improvements.  Austin Kinetic will position itself to win a good deal of that emerging business.  The company has been incorporated in Nevada and has acquired an operating permit for Texas.  Austin Kinetic anticipates an enviable cumulative net profit by the end of year three.

The Market Austin is known as “little Silicon valley” due to its high percentage of technology companies.  With its relatively low cost of living and ample space for expansion, Austin promises to be a strong market into the foreseeable future. There are currently over 7,000 companies that fit the aim of Austin Kinetic in the Austin Metro area, with only four major competitors.  This combination provides a rich opportunity, bolstered by the current up-turn in the area and national economy.

The Business Model Austin Kinetic will leverage the industry knowledge of its founding members to provide outstanding service to its customers.  The company will initially have as little overhead as possible with its founders working out of their own homes, using their own transportation means to reach clients.  The company will be developed with a “customer service and satisfaction first” mentality in an effort to build acceptance and a positive reputation in the local industry.

The Management Team In order for the company to be successful, Austin Kinetic must fully leverage the experience and insight of its management team, which includes Adam Authortisement, Bob Borgware, Cary Curry, Dean Dri, and Edgar Extension. The team has over forty-eight cumulative years of experience in service operations management and information technology support.  They currently hold multiple technology industry vendor certifications crossing several disciplines including both logical and physical network structure and management. Over the course of their careers, the team has served in various technical roles with Fortune 500 companies and has been successful in both large and small environments.

Outsourced computer support business plan, executive summary chart image

1.1 Objectives

Austin Kinetic’s objectives for the first five years:

  • Establish and maintain at least twenty-four full time service contract customers.
  • Establish an office in Austin, TX.
  • Break the Big M revenue mark.

1.2 Mission

Austin Kinetic is an innovative business technology company that was founded on the belief that one company can make more than a difference, it can change the whole face of business as we know it.

1.3 Keys to Success

  • Depth of knowledge.
  • Breadth of ability.
  • Development of a strong business relationship with customers to gain an understanding of their business and business needs.
  • Ability to network in the industry.

LivePlan Logo

See why 1.2 million entrepreneurs have written their business plans with LivePlan

Company summary company overview ) is an overview of the most important points about your company—your history, management team, location, mission statement and legal structure.">.

Austin Kinetic is incorporated in Nevada with an operating office in Austin, Texas. Initial staff will consist of a small group of experienced computer engineers who’s skills and experience collectively cover a very broad segment of the open systems’ distributed client/server field. The company’s initial focus will be installation and configuration projects which will be developed into ongoing support contracts.

2.1 Company Ownership

Austin Kinetic is incorporated. The major share holders are Adam Authortisement, Bob Borgware, Cary Curry, Dean Dri, and Edgar Extension.

2.2 Start-up Summary

The start-up costs for the company are detailed in the table below, and will be funded by the founder’s personal funds. There will be only small initial equipment cost as the company will be greatly dependent upon its founders’ resources. It is expected that each employee will initially cover the cost of transportation, cell phone, and incidentals that arise in the course of due business. The company will begin covering those costs as revenue streams are generated. Specific guidelines and policies will be developed prior to the sixth operating month.

Outsourced computer support business plan, company summary chart image

Austin Kinetic will offer several support options, including hourly support services, with the option to buy in blocks of 40 hours at a discounted rate.  Blocks purchased will be valid for 180 days from date of purchase.  Additionally, semi-annual service contracts will be available.  Contract pricing will be negotiated on a per-contract basis.

  • Project work will be billed and estimated on a per-project basis.
  • Web and ASP hosting will be billed on a per-system basis.

Operating systems supported (limited to current and three previous revisions): 

  • Novell NetWare
  • Red Hat Linux

Hardware supported (hardware configurations must be validated by OEM):

  • All open desktop, server, storage, and network systems.
  • Dell, ADIC, Storagetech, and HP tape drives and libraries.
  • Additional hardware will have to be reviewed on a per-case basis.

Software packages supported (Restricted to implementation and initial configuration):

  • Microsoft Exchange
  • Lotus Notes/Domino
  • SUS Messaging Center
  • Microsoft SQL server
  • Veritas Backup Exec / Net Backup
  • Legato Networker
  • Additional packages will have to be reviewed on a per-cases basis.

Service offerings: 

Austin Kinetic has several pre-set packages available for general monitoring of a customer’s network equipment and applications.  The packages are categorized by the type and use of equipment to be monitored. An initial one-time setup fee of $500 will be required per physical site at the onset of any service agreement. This amount is not affected by the number of systems to be monitored at the designated physical site. The customer will be required to provide Internet access to the monitoring server. Out-of-band notification can be added for an additional $50 per month plus a one-time, per-physical-site, $150 initial setup fee.

Basic Server Management*  $350 per month Austin Kinetic provides professional management of operating systems, including Windows, NetWare, Red Hat Linux, and Solaris. This service is perfect for companies that want to manage their own applications, but not deal with the ongoing hassle of tuning, securing, and maintaining the operating system. We will take the burden of ensuring you get the proper services for your specific server and operating system.

  • A system audit to document your architecture and suggest improvements
  • 24/7 technical support of the server and operating system from experienced engineers
  • Security and bug patch notification for the operating system, and when approved, a service call will be scheduled for installation.*
  • Monitoring the network availability of one IP.
  • Monitoring the server’s disk usage, processor usage and load average
  • Visibility into Austin Kinetic’s trouble ticket system via a secure portal

* Except for the initial system audit, service time to repair or otherwise service the monitored system is not included in this monitoring agreement.

Application Server Management Services*   $450 per month. Ensuring your applications are available and running at peak efficiency is a 24/7 responsibility. Austin Kinetic offers comprehensive application monitoring and management so your customers and employees will be able to use your applications without significant unscheduled interruption. We offer a complete range of management services tailored to remove the burden of ensuring your applications are up and getting the proper maintenance. 

  • A system audit to document your architecture and suggest improvements 
  • 24/7 technical support of the server, operating system and applications from experienced engineers 
  • Security and bug patch notification for the operating system and applications, and when approved, installation
  • Monitoring application and network availability
  • Monitoring application response time
  • Monitoring the server’s disk usage, processor usage, and load average
  • Visibility into Austin Kinetic’s trouble ticket system via a secure portal 
  • Periodic activity reports

Database Server Management Services*  $500 per month. Ensuring your Oracle, MySQL, and MS SQL 2000 databases are configured and maintained properly is a time-consuming task for IT departments. Austin Kinetic can augment your internal skill set with comprehensive database server management. We offer a broad range of management services and will take the burden of ensuring you get the proper services for your specific server and databases. Typical database services offered by Austin Kinetic include:

  • 24/7 technical support of the server, operating system and database from experienced engineers 
  • Security and bug patch notification for the operating system and database, and when approved, installation 
  • Monitoring database and network availability 
  • Monitoring database response time 
  • Monitoring the server’s disk usage, processor usage and load average 

Network Device Management Services*  $450 per month. Network devices – firewalls, load balancer, routers, switches and hubs – must be properly configured and maintained to ensure network security and reliable operation. Austin Kinetic offers a broad range of network management services and will take the burden of ensuring you get the proper services for your specific network.

  • A network audit to document your topology and addressing scheme 
  • 24/7 technical support of the network devices from experienced engineers
  • Security and bug patch notification, and when approved, installation 
  • Maintaining the security of firewalls 
  • Monitoring bandwidth usage 
  • Monitoring network device availability and performance 
  • Visibility into Austin Kinetic’s trouble ticket system via a secure portal  

Benefits of Security Management Services (Priced determined on a per-site basis.) Maintaining the security of your Internet-based systems is more important and more time consuming that ever. Austin Kinetic removes the burden of protecting your systems by offering 24/7 security management that combines intrusion detection and vulnerability scanning. We also will not burden your existing hardware as a pre-configured 1U server is installed in your network to handle the intrusion detection and vulnerability task.

  • Identify misconfigured firewalls
  • Catch attacks that firewalls legitimately allow through (such as attacks against Web servers) 
  • Document hacker attempts that fail 
  • Watch for insider hacking 
  • Identify users installing unsecured software on their machines 
  • Recognize unauthorized machines using the network
  • See incorrect IP space utilization

Austin Kinetic will ensure your intrusion detection and vulnerability scanning system is properly installed and maintained. This includes configuring the system, testing the pattern matching, updating scanning profiles, monitoring 24/7, reporting suspicious activities or vulnerability, and providing a monthly report.

Data Backup*   $50 plus a one-time setup fee of $150 per backup server. There will be an additional $100 per-site, per-month charge if tapes are required to be kept off-site.

Protecting your organization’s data is critical. Austin Kinetic will manage your data protection system to ensure that your data is protected by tape backup. While Austin Kinetic cannot be held responsible for lost data, we will ensure that validated and tested backups occur on a regularly scheduled basis. The customer will be responsible for procuring and installing the necessary hardware. Austin Kinetic will configure and monitor the backup software, monitor and test backup jobs, and perform needed file restoration.

* This service does not require the $500 site setup fee.

Market Analysis Summary how to do a market analysis for your business plan.">

The Information and Technology Service industry is expected to grow at 8.58% per year through 2010.     –U.S. Department of Labor (2003) http://www.bls.gov/iag/iag.services.htm

We will be primarily focusing on mid-sized companies with 500 or fewer employers.  These companies typically do not have large internal IT departments and could benefit the greatest from our offerings.

4.1 Market Segmentation

The information in the market analysis table gained from the U.S. Census Bureau, http://factfinder.census.gov/servlet/GQRGeoSearchByListServlet?ds_name=E9700A1.  Though the data is based upon 1997 data, it is representative of the local market’s potential.

Outsourced computer support business plan, market analysis summary chart image

4.2 Target Market Segment Strategy

Austin Kinetic is interested in servicing companies that are large enough to show direct P&L benefit from information technology investment, but not large enough to maintain their own permanent IT staff.  The business groups targeted in the market analysis table represent the largest groups in our target area that fit our interests.

4.3 Service Business Analysis

Austin Kinetic is in the business of satisfying companies’ information technology infrastructure needs.  We will provide service at various levels from consulting to installation. Services will be sold on a per-customer/case basis with heavy personal interaction between Austin Kinetic sales representatives and prospective customers.

4.3.1 Competition and Buying Patterns

In this industry that Austin Kinetic, word of mouth and reputation are king. While a limited amount of highly focused marketing will be effective, most contracts are gleaned from social contacts and networking.

Strategy and Implementation Summary

Austin Kinetic’s initial funding will be from its founders’ personal funds. Word-of-mouth and industry networking will be Austin Kinetic’s key source of clients. The company’s success will be based upon the service and satisfaction of customers to the point that they willingly refer new business.

5.1 Competitive Edge

From the onset, Austin Kinetic will have over 20 years of cumulative experience in the information technology field with a very broad range of hands-on experience. This, combined with a keen sense of customer service and satisfaction, will differentiate Austin Kinetic from its competitors.

5.2 Marketing Strategy

Austin Kinetic’s initial marketing strategy will be largely word-of-mouth and industry group networking.  Our biggest initial challenge will be to get our name known in the local market. We will become involved in several industry specific organizations in the local community which will give us direct access to potential customers.

5.3 Sales Strategy

Sales will focus a bit less on building relationships and more on solidifying confidence in Austin Kinetic’s competencies and skills. Our primary focus will be to answer the question, “how can Austin Kinetic best meet a customer’s information technology needs?” Delivering this answer in a clear, concise proposal allied with competitive pricing will be the key to closing deals.

5.3.1 Sales Forecast

Sales are forecast with an emphasis on project work at the onset. In the first few months, we will be primarily occupied in conducting short-term one-day to one-week projects while building Austin Kinetic’s reputation and brand name. Within the first six months, Austin Kinetic will have signed three annual service contracts, doubling that by the end of the year and each semi-annual period thereafter. Sales contracts will be set period contracts paid by monthly installments.

As a service business, our only direct costs would relate to the time spent by employees in responding to customers’ needs. Our employees are all paid a set salary, and not by hourly billing, so we have no direct costs of sales; these salaries can be found in the Personnel Plan.

Outsourced computer support business plan, strategy and implementation summary chart image

5.4 Milestones

Austin Kinetic will have very simple marketing milestones geared toward industry networking and beginning to build name recognition.

Outsourced computer support business plan, strategy and implementation summary chart image

Web Plan Summary

Austin Kinetic’s Web presence will not only serve as a medium for the company’s marketing message, but also will serve as an important tool for our customers. Customers will be provided with the ability to manage and monitor their accounts from anywhere that has access to the Internet. Additionally, consultants in the field will be able to track time and work journals through the site as well as develop and print immediate job estimates.

6.1 Website Marketing Strategy

Austin Kinetic’s Web presence will be utilized as a tool to assist the company’s overall marketing strategy. It will serve as a point of reference for information about the company and its services, and in a small part, lend credibility to the marketing message.

6.2 Development Requirements

Austin Kinetic’s site will reside in a two-tier environment. A back-end database will be utilized to manage customer data. The site will be developed with the assistance of a contracted professional developer.

Management Summary management summary will include information about who's on your team and why they're the right people for the job, as well as your future hiring plans.">

At the outset, Austin Kinetic will maintain five part-time employees, its founders. These employees will be responsible for all aspects of the business and serve in both managerial as well as technical roles.  As the business grows, additional engineers will be hired. We anticipate that during the fourth year of operation, the original five employees will be free from any technical duties and concentrate solely on their management responsibilities. At this time, Austin Kinetic will look to add a full-time sales and marketing manager as well.

7.1 Personnel Plan

Business permitting, Austin Kinetic will maintain a staff of five engineers through most of FY 2007. A secretary will be hired at the start of FY 2006 to assist with telephone and office management. At the end of FY 2007, an additional engineer will be brought on board as workload dictates. Beginning FY 2008, the original founding members will be transitioned from field work and into management, replaced by additional engineers.  Additionally, a full time marketing/sales representative will be hired. 

Compensation projections were made with annual merit increases of 5% for staff and 15% for the founders. The table also shows a profit sharing plan starting in the second year, based on 5% of the previous year’s net profits. These bonuses will be divided equally among staff members, including owners.

Financial Plan investor-ready personnel plan .">

Austin Kinetic will initially grow with project work, beginning to build service contracts from the six month point forward. The company will increase its project work to 2,560 man hours per month and increase its service contracts count by six each year. The initial growth will be financed primarily out of the pockets of its founders. The company will fund all growth from the cash flow of the business, remaining debt-free.

8.1 Important Assumptions

At the onset, the founding members of Austin Kinetic will take on much of the financial burden of running the company. There will be no need for dedicated office space until FY 2006 when we expect to open an office in Austin. Until then, Austin Kinetic will compensate travel-related expenses, if any, incurred in the course of business. The only foreseen recurring expenses will be voice mail services, marketing, insurance, Internet access, and Web presence. The lion’s share of funds will be held by Austin Kinetic to develop cash reserves for future expansion and a business climate buffer.

Customers will be billed on an hourly basis of $120. Engineers will be paid a salary, plus $25 per hour for on-call and overtime. Employees who establish the new project/contract will be paid a 5% bonus of the total project / contract price. Business call time of cell phones will be reimbursed.

8.2 Break-even Analysis

The table and chart below show our break-even analysis. As a service business, we have no direct cost of sales. Our break-even point ni the first year is therefore equal to the amount needed to cover our operating expenses, including payroll. We will reach break even, in the third month.

Outsourced computer support business plan, financial plan chart image

8.3 Projected Profit and Loss

In the first year, we will be based out of the founders’ homes. Adam Authortisement has renovated his garage for use as a meeting space and general office, when we need to get together as a group. Utilities in the first year represent the cost of home high-speed Internet access for all five employees ($45 each per month). This access is necessary for communications between personnel and for file transmission for all project and service work. 

After the first year, it will be more cost-effective and attuned to our growth to rent a space in downtown Austin, where we can consolidate equipment, combine utilities, and have a central location for our work and our secretary. Office space rented beginning FY 2006 is forecast to be $2,500 per month.

The Profit and Loss also includes a provision for charity donations, which we have deemed important to our mission, as well as to marketing and outreach in the community. Starting in the second year, 5% of net profits each will be set aside for charity on an annual basis based upon the previous year’s performance.

After the first month, Marketing and Promotion expenses are set at 5% of the previous month’s and year’s sales.

Outsourced computer support business plan, financial plan chart image

8.4 Projected Cash Flow

We have no sales on credit; all service accounts and projects are paid in advance, in installments. We anticipate no problems with our cash flow. By staying debt free and keeping expenses down, we expect a significant positive cash balance by the end of the first year.

Outsourced computer support business plan, financial plan chart image

8.5 Projected Balance Sheet

Our Balance Sheet is quite solid. We will build our asset base slowly over the first five years, expensing most of our computer and hardware equipment to offset taxes, since they will need replacing every two to three years.

8.6 Business Ratios

Business ratios for the years of this plan are shown below. Industry profile ratios based on the Standard Industrial Classification (SIC) code 7379.02, Computer Related Consulting Services, are shown for comparison.

8.7 Long-term Plan

Austin Kinetic anticipates maintaining a steady profit percentage and plans to build cash reserves to an amount which would cover operating expenses for twelve months should any catastrophic event occur.  This will be a moving target and be recalculated on an annual basis as the business cash flow changes.  There has been no pre-set limit placed upon Austin Kinetic. Its founders see the possibility of expanding the company into a global force ranked equal to today’s top Fortune 500 companies.

Start your own business plan

Your business plan can look as polished and professional as this sample plan. It's fast and easy, with LivePlan.

Garrett's Bike Shop

The quickest way to turn a business idea into a business plan

Fill-in-the-blanks and automatic financials make it easy.

No thanks, I prefer writing 40-page documents.

LivePlan pitch example

Discover the world’s #1 plan building software

business plan for outsourcing company


BPO Company Business Plan [Sample Template]

By: Author Tony Martins Ajaero

Home » Business Plans » B2B Sector

Are you about starting a BPO company? If YES, here is a complete sample BPO business plan template & feasibility report you can use for FREE .

Okay, so we have considered all the requirements for starting a BPO company. We also took it further by analyzing and drafting a sample BPO service marketing plan template backed up by actionable guerrilla marketing ideas for BPO companies. So let’s proceed to the business planning section .

One of the most lucrative businesses for an entrepreneur to start up today is a Business Process Outsourcing (BPO). A new BPO company might not be so easy to start up especially as there are already established BPO companies making waves and dominating the scene, however, as a new start-up, one can effectively compete by providing services that would readily fill in the gap.

A BPO company usually handles certain aspects that relates to a business operation such as call centers, finance, human resources, cleaning services or accounting. BPO companies sprung up due to the fact that businesses needed to outsource their non-core functions in order to be able to concentrate on the core functions of their company, sustain themselves and expand.

Using the services of a BPO company is far cheaper for businesses which make BPO companies to be a highly lucrative business. Another important aspect that you would need to consider before starting your business, is a business plan. It is for this reason that a sample BPO business plan is made available for you below;

A Sample BPO Startup Business Plan Template

1. industry overview.

The Business Process Outsourcing (BPO) industry has no dominant company with a large share of the market. The industry is valued at $136 billion and has grown at a 4% per annum between the periods of 2010 to 2015. There are more than 162,000 such businesses in the united states of America, employing more than 900,000 people.

The industry fared well from 2010 to 2015 and this is due to the fact that the US economy vastly improved due to the rising revenue especially in the finance and accounting sectors, human resources industries as well as credit card services and insurance sectors.

Also, employers in the above named sectors outsourced to BPOs in order to control rising costs due to wage increases and rising health insurance.

According to analysis, the industry will continue to experience a fair percent of growth till the year 2022, especially as companies in the affected sectors will be pressured to increase wages for their employees as well as healthcare insurance costs.

According to IBISWorld, the BPO industry is in its growth stage and will grow at a rate of 3.9% over the next 10 years to 2022. In comparison, the economy of the United States will not grow that high as it will grow at 2.5%. This therefore depicts that the industry is a growing one.

Globally, the market for BPOs will reach $220 billion by 2022, which will be due to the fact that companies will be pressured to increase customer satisfaction and improve operational efficiency whilst reducing costs to a reasonable level. Te industry’ growth is due to the fact that businesses have realized how important BPOs are and how they help reduce business risks and increase efficiency.

The United States leads the BPO market globally; however, the Asia-Pacific has the fastest growing market with a CAGR of 10%.

While the Philippines are seen as a strong competitor for BPOs globally, India remains the most lucrative destination for BPOs due to its financial attractiveness, availability of people and skills as well as an appropriate business environment.

Globally, the BPO market revenue declined by $15 billion in 2015 compared to the previous year. The revenue globally for the BPO industry therefore stood at $63.5 billion. Europe, Middle East and Africa generated the largest share of revenue for the BPO industry globally.

2. Executive Summary

Citotech BPO LLC is a standard company that will be located in Houston – Texas to serve all our clients here in the United States and abroad. We intend to provide traditional customer care operations and internal business functions to our various clients as a way to help them handle the non-core aspects of their business.

We are in business to generate revenue and make profit here in the United States of America and our vision is to offer high valued service to our clients and ensure that we not only met up with our clients’ expectations but exceed them as well. We also intend to be amongst the top three BPO companies here in the United States of America by 2023.

We are strategically located in Houston – Texas as it will be very easy for our clients to get to us, whilst easily accessible to our employees. Our location also allows us to have low overheads as well as running costs.

Procuring the best equipment with which to handle our business is a must for us so that we could provide our clients with best service. We also intend to build a business structure that will run smoothly and allow us to achieve our desired goals and objectives.

We will hire the right number of employees who are qualified and competent and who have aligned with our vision as a company and are committed to ensuring that we attain the height we intend for our business.

We will ensure that we provide a conducive and work friendly environment for our employees so that they will be able to focus on work. We will also ensure that they get the right training that will not only enhance their skills but boost productivity for us as well.

We will ensure that our employees are well paid and have the best welfare structure across similar start-ups such as ours in the industry. We know how this can boost their work output and so are willing to ensure that they remain motivated.

Finally, our owner Mr. Steve McMahon is a prominent business man and property developer, who has several businesses both here in Texas and all around the United States of America. He has several years of business experience and all his companies are successful in their own right. He has ensured that only the best are brought to work at Citotech BPO LLC.

3. Our Products and Services

Citotech BPO LLC intends to offer traditional customer care operations and internal business functions as its core functions here in Houston – Texas.

However, we also intend to boost our revenues as well by offering other services that are related to our core functions such as trainings and consultancy services. This is so as to make profit, re-invest part of the profits back into our company and boost our bottom line as well. Below are some of the services we intend to offer our various clients;

  • Provision of customer care services to our clients
  • Provision of other outsourcing services such as accounting and finance
  • Consultancy services

4. Our Mission and Vision Statement

  • Our vision is to offer high valued service to our clients and ensure that we not only met up with our clients’ expectations but exceed them as well. We also intend to be amongst the top three BPO companies here in the United States of America by 2023.
  • In order to achieve our vision, we intend to ensure that we build a business structure that has committed; professional and highly dedicated employees to allow us attain our goals and objectives. We will also ensure that we get the right equipment that will allow us carry out our job to the highest standard

Our Business Structure

Building the best business structure is very important for us as a business that takes its affairs very seriously and due to this we are willing to go the extra mile to ensure that we hire the best hands that are not only highly qualified but also have the experience to ensure that we are able to attain our desired goals and objectives here at Citotech BPO LLC.

We will be sourcing for highly intelligent individuals who understand what it means to work with a start-up such as ours and ensure that we get to be the preferred BPO company or our clients here in Texas as well as around all the United States of America.

Due to this fact we are going to ensure that the employees we get understand and are aligned with our goals as a company and that our management staff will ensure that our business ethics and standard remains high at all times.

Because we would not be running a conventional BPO company due to the various services that we would be offering, we will be hiring more employees than the average BPO company, to handle all the various responsibilities and tasks so that all the different aspects of the company will run smoothly as one unit, with everyone knowing and understanding their responsibilities.

Below is the business structure we intend to build at Citotech BPO LLC;

Chief Executive Officer

Human Resources and Administrative Manager

Business Development Manager

Infrastructure Manager

Systems Administrator

Frontline Responders

Marketing Executives

Maintenance Department

Security Guard

5. Job Roles and Responsibilities

  • Drafts and formulates the company’s core policies
  • Drafts the budget and sources for capital for the company
  • Reviews policies and removes or modify ineffective ones
  • Sources for and hires competent and qualified employees to work for the company
  • Ensures that all the administrative functions of the company are effectively coordinated
  • In charge of employee welfare package, orientation, induction, performance appraisals and dismissal
  • Carries out research on new businesses ideas in order to generate more source of revenue for the company
  • Reviews company’s services and looks for ways to upgrade the services
  • Works with the marketing executives to determine how corporate sales goals can be achieved
  • In charge of all the IT and security systems in the company
  • Helps to implement updated solutions across all the company’s infrastructure
  • Ensures that company’s data is secure and runs efficiently
  • Responsible for the implementation of a network security plan for the organization
  • Keep up-to-date with changing network technology and how it is likely to affect the company
  • Review software and hardware and recommend upgrades when necessary
  • In charge of preparing all the financial information, statement and budget on behalf of the company
  • Ensures that the company’s tax records are up-to-date and that it is submitted to the tax authorities on time
  • Ensures that the company’s budget is effectively implemented
  • In charge of attending to client’s customers’ inquiries, complaints and feedbacks on behalf of the organization
  • Keeps up-to-date with industry trends of clients and company policies so as to pass accurate information to the client’s customers
  • Ensures that clients are well attended to as well as keep an accurate database of logbooks on behalf of the organization
  • Drafts the right marketing strategies on behalf of the organization
  • Meets with high level clients and conducts direct marketing on behalf of the organization
  • Identify new markets for the company
  • Ensures that the equipment bought are genuine
  • Carries out light repairs on the equipment in the company
  • Installs new equipment and ensures that it works well
  • Patrols the premises at night to ensure that no intruder enters
  • Monitors the surveillance cameras to ensure that the building is secured at all times
  • Carries out any other duties as determined by the management
  • Keeps the premises and convenience clean at all times
  • Ensures that cleaning supplies are always in stock
  • Carries out any other duties as directed by the Human Resources Manager

6. SWOT Analysis

Our intention of starting our own BPO Company is so that we would run a standard business and in order to achieve this, we hired the services of a reputable business consultant here in Texas to look at our business concept and determine if starting this company was the best thing especially as regards the location we are in.

The business consultant was also to help determine if we were going to thrive and compete favorably against our competitors all around the United States of America.

In respect to our request, the business consultant took stock of our strengths, weaknesses, opportunities and threats and used this to determine if we were likely to survive in the BPO industry. Below is the SWOT analysis that was conducted on behalf of Citotech BPO LLC;

We have a strong client relationship management which has allowed us to retain a high number of our clients who outsource several aspects of their business to us and allow us also boost revenue for our company. Part of our strength is the fact that we offer standardized services and deliver processes, resources and tools in an efficient and effective manner.

Our employees are highly competent and qualified and know what it takes to achieve organizational goals. We also have publicity strategies in place that will allow increase awareness for our BPO Company. The various services we offer has also given us an edge over our competitors.

Since we are relatively a new company, we have limited brand presence outside of Texas and this is due to the fact that we are running on a tight budget, which has not allowed us to promote our company as we would have liked. There is also a perceived complexity which has affected our vertical concentration.

  • Opportunities

There are several opportunities in this market and they include the fact that there are enough customer bases to be developed and cultivated. There is also an opportunity for us to gain more markets as we expand our business.

The threats that we are likely to face are; declining or slow revenue growth due to a slow economy or the arrival of a major competitor. Every business faces threats and ours is no different, but we have laid down strategies to overcome any challenges we might face.


  • Market Trends

The BPO industry is very vital to the growth of certain businesses and as such most have developed comfortable relationships that have gone on for decades with their clients. As this relationship grows, these BPO companies are offering their clients consultancy services due to the familiarity with the client’s core business and culture. This is leading to the evolvement of the industry.

A niche of BPOs has started evolving and is known as impact sourcing which is built on the foundation of social responsibility.

The aim of impact sourcing is to deliver quality service at low cost while employing those that were socioeconomically disadvantaged. This is gaining traction as corporations are looking to meet their diversity and social responsibility goals.

Another niche is the knowledge process outsourcing (KPO) where businesses have started to outsource core business services to third parties. This field dwells on tasks that require high research and analytic skills.

8. Our Target Market

There are a huge number of companies (clients) that demand the services of a BPO Company for various reasons. However, in order for us to truly determine our target market, we intend to conduct a thorough market research that will allow us map the necessary strategies in order to attract them to our company.

The aim of the market research we intend to conduct will allow us understand the characteristics of our target market and what to expect from them. In regards to this, we are going to offer our services to the following people;

  • Market operators
  • Consultancy firms
  • Training organizations
  • Telecom and IT companies
  • Cloud providers
  • National regulatory authorities
  • Government and public sector
  • Financial institutions
  • Small and medium enterprises

Our competitive advantage

Our BPO Company is a business that has been established with the intention of offering outsourcing services that are value-added to all our customers. We will offer our services in such a way as to allow us compete favorably against our competitors. We have therefore drafted strategies that would allow us have an edge over our competitors.

We are located in a strategic location that is not only conspicuous but also allow all our employees and clients to easily access us. Our location is one that is also quite cheap enabling us have low overheads that will have an impact on our rates.

We have a highly qualified management team that is not only highly experienced but is also aligned with our core values and objectives.

Our management team are highly committed and dedicated and have the capability of bringing our business to the level we intend for it nationally. All our core objectives are always being communicated and projected positively internally and externally.

We intend to source for and hire employees that are competent and qualified to handle all the responsibilities in our BPO Company. Our employees understand the industry that we are in and use the trends to ensure that we are able to achieve all our goals and objectives.

Finally, we will ensure that our employees are well paid and have the best welfare packages as compared to others in similar start-ups in the same industry.

We will ensure that our employees work in a safe and conducive environment. Our employees will also undergo continuous trainings that will further enhance their skills and also boost productivity for our company and boost the bottom line of our business and allow us grow.


  • Sources of Income

Citotech BPO LLC is established with the sole intention of generating revenue and maximizing profit here in the United States of America. We intend to offer all our clients various services that will bring in this revenue to ensure the sustainability of our business. We therefore intend to generate revenue for our BPO Company via offering the following services;

10. Sales Forecast

The BPO industry is one that is regarded as saturated but regardless of this fact the industry is still has several services that has kept the industry stable and can allow for the influx of more businesses.

We are located in a strategic location here in Houston – Texas which has made it quite possible for us to be optimistic about the revenue we will generate from our BPO Company. We are quite sure that the profits that we will generate from our business will sustain and allow us grow our business within a year of starting and running our operations.

We conducted a thorough evaluation of the BPO industry here in the United States of America that would allow us carry out an accurate sales projection.

The analysis of the sales projections we conducted were gotten from data and information from similar startups that were not only based here in Houston – Texas but all over the United States of America as well. Below is the sales projections that was conducted for Citotech BPO LLC;

  • First Fiscal Year-: $350,000
  • Second Fiscal Year-: $700,000
  • Third Fiscal Year-: $1,400,000

N.B : We conducted the above sales projections based on several assumptions and information that were gotten from start-ups here in Texas and the United States of America. Some of the assumptions we used were that the economy would be stable enough and that there would not be an arrival of a major competitor.

It should however be noted that should there be a change in any of the assumptions, it would have a negative or positive impact on the projected figures.

  • Marketing Strategy and Sales Strategy

Every business no matter its level requires marketing in order to thrive and this is why we have set aside a budget for marketing our company.

Marketing is vital for the growth of any business because not only does it generate revenue and boost a company’s growth, it also allows the companies generate interest and increase awareness amongst its target market. The marketing strategies we would draft for our BPO Company are ones that would allow us penetrate the target market and gain a huge share.

Before drafting our marketing strategies, we will conduct a thorough marketing survey using accurate data that will allow us understand our target market and create effective marketing strategies.

We will leverage on conventional and unconventional means of marketing our brand to all our existing and potential customers. These marketing strategies we will create will allow us have a marketing budget that we will channel to the right use.

We intend to hire the services of a reputable marketing consultancy firm here in Texas who has the experience that would be needed to move our BPO Company to the level that we want it to be and also allow us effectively compete with our competitors.

The marketing consultancy firm we have engaged will help us draft the right strategies that would be of great benefit to our business and allow us generate the revenue that would boost our business. We have also empowered our marketing executives to also draft the right strategies that should be in line with our corporate policies and goals.

They will modify or remove ineffective strategies so that we don’t waste money using the wrong channels to market our BPO Company. Therefore, the marketing strategies that we would adopt in generating revenue for Citotech BPO Company are;

  • Ensure that we place adverts in local and national newspapers, magazines as well as on radio and television stations
  • Empower our marketing executives to engage in direct marketing
  • Formally introduce our BPO Company to organizations and other stakeholders in the industry as well as in the United States of America
  • Throw an opening party that will generate interest and create awareness for our BPO Company
  • Ensure that our business is listed in online and offline directories
  • Use social media platforms such as Facebook, Twitter and Google Plus in order to market our BPO Company

11. Publicity and Advertising Strategy

Once a business has been set up, it is important that the business is promoted vigorously. Promoting a business is very important as this is the way that not only awareness is created for the business but also revenue is generated from the exposure as well.

The BPO industry which is already termed as a saturated market, will require intense publicity if it intends to stand out from others and generate revenue.

To ensure that we create the right strategies for our BPO Company, we intend to hire the services of a reputable brand consulting company who have had several years of experience in branding companies in this industry and who would know what strategies would be right for our business and promote us positively to our clients.

We will ensure that the crafted strategies will be one that will not only communicate our brand but will also allow our brand stand out. Below are some of the publicity and advertising strategies we intend to use in promoting Citotech BPO LLC;

  • Create a website that is professional and explains what we will be offering our clients
  • Use social media platforms such as Facebook, Twitter and Google Plus to our advantage by posting updates with special information weekly
  • Throw quarterly contests and special offers an use hash tags to make sure our brand trends
  • Attend trade shows and events in order to network, know about new technologies and participate I workshops and presentations that would bring new ideas
  • Join relevant associations in order to have valuable information on industry trends and allow others know about our progress
  • Install billboards in various strategic locations all around Texas

12. Our Pricing Strategy

Due to the fact that we would be offering a service, it might not be so easy to determine how to rightly charge our clients especially as we would be offering various other services in addition to our core service.

We however will deploy the following strategy that will allow us determine what factors we would use in determining the right rates for our clients. Some of the factors we would use are cost of leasing the facility, power costs, property taxes and what our nearby competitors are offering.

However, since we are relatively new to the market, we intend to start off with lowering our rates for at least two months in order to increase awareness about our business and also attract the needed clients to our business. Lowering our rates for the first two months will also allow us gain a sizeable share of our target market.

After a careful study of our proposed discounted rates, we have found that even though our revenue might be low during this period, we would not be running at a loss in any way.

  • Payment Options

Due to the various services that we will offer at Citotech BPO LLC, we will offer different payment services that will suit the different business preferences of our customers. Our payment options will be made to be convenient for our various clients. Therefore, the payment options that we will make available to our different clients are;

  • Payment via check
  • Payment via online payment portal
  • Payment by bank transfer

The above payment options which were carefully chosen by us will work without any sort of hitches for our clients and will also be very convenient for our business as well.

13. Startup Expenditure (Budget)

In order to set-up and run a standard business process outsourcing company, one would require all the equipment that will used to be genuine and be of a high quality so as to be able to withstand the heavy workload that they would be required to carry out.

The bulk of the things that the generated capital would be used on asides from procuring equipment are, leasing and renovation of a facility, paying the salaries of employees and utility bills for at least six months, and ensuring that there is sufficient power.

Therefore the key areas where we intend to spend our start-up capital on are;

  • Total fee for registering Citotech BPO LLC in the United States of America – $750
  • Obtaining of licenses, local permits, legal services as well as accounting and browser-based call center software – $1,250
  • Insurance policy (general liability, equipment insurance, property insurance and workers’ compensation) – $3,000
  • Cost of hiring a business consultant – $2,000
  • Leasing and renovating a 20-seater facility for use for at least a year – $20,000
  • Operational cost for the first 6 months (salaries of employees and payment of utility bills) – $200,000
  • Other start-up expenses which includes (workstations, computers, telephone, office furniture, ventilation, lighting, secure internet) – $25,000
  • Cost of purchasing office supplies (staplers, folders, paperclips, pens, paper, ink and pencils) – $5,000
  • Marketing promotion expenses (general marketing expenses and promotion activities for grand opening ceremony) – $5,000
  • Cost of purchasing an official vehicle – $30,000
  • Cost of launching a website – $1,000
  • Cost of throwing a grand opening party – $5,000
  • Miscellaneous – $12,000

From the above analysis, we would need an estimate of $310,000 to be able to start and successfully set up a BPO company here in Houston – Texas.

It should be noted that the above capital stated will be used to pay the salaries of employees and utility bills such as electricity and water for at most 6 months. We will also use part of the capital to lease and renovate a 20-seater facility as well as procure the equipment that will be used.

Generating Funding / Startup Capital for Citotech BPO Business

Citotech BPO LLC, is a business outsourcing company that is owned by Steve McMahon, a prominent business man and property developer, who has several businesses both here in Texas and all around the United States of America. Steve will not be seeking for external investors for his business and so will likely limit his sourcing of income to just two avenues;

The two different areas where Steve McMahon intends to generate capital from are;

  • Generate 40% of capital from sale of some his stock
  • Approach the bank to loan 60% of the capital

N.B : Steve sold some of his personal stock for $124,000 in order to generate the first capital for his business. He approached the bank in request for the sum of $186,000 so as to be able to kick-start his business.

The loan will be repaid in 7 years at the rate of 3% per annum and has already been approved by the management of the bank. All necessary papers have been signed and the Citotech BPO LLC’s account will be credited by the end of the week.

14. Sustainability and Expansion Strategy

In order to ensure that we grow our business to an enviable level, we intend to focus on several strategies that would allow us not only thrive but also excel as well. Some of the factors that we intend to focus on are; building a strong business structure, retaining a high rate of our loyal customers and also reinvesting in our business in order to ensure that we remain for as long as we should.

Building a business structure is very vital because not only will it allow us to start and run our BPO company with as few hitches as possible, it also enable us to be able to focus on our core service and achieve our goals more quickly.

We will hire qualified and highly competent employees that do not only have the necessary experience but also are aligned to our core values and are committed to ensuring that we are able to grow from a start-up to becoming a national force that is able to compete favorably with our competitors.

We will ensure that our employees are well trained so that their skills will not only be enhanced but will also ensure that the productivity of our company are enhanced.

We will also ensure that our employees are well paid and have a great welfare package that is better than their counterparts in similar start-ups such as ours. We will also ensure that the environment we will use for our employees is conducive.

We will ensure that we retain a high level of our clients because we know how valuable our clients are to us. Our aim is to ensure that we not only meet with our clients’ expectations but also surpassing them as well. We will offer our customers high quality service that is commensurate with our core policies.

We will ensure that all our loyal customers are rewarded with incentives every once in a while. We also intend to offer contests and other attractive programs in a bid to attract new customers to patronizing our services.

For our business to grow to an enviable standard, we will re-invest 25% of our profits back into the business. This is to ensure that we have a solid bottom line and that our BPO Company is able to run itself without having to sources for funding externally all the time. We intend to focus on these three factors as we believe that we would be able to suitably sustain and grow our business.

Check List / Milestone

  • Business Name Availability Check: Completed
  • Business Registration: Completed
  • Opening of Corporate Bank Accounts: Completed
  • Securing Point of Sales (POS) Machines: Completed
  • Opening Mobile Money Accounts: Completed
  • Opening Online Payment Platforms: Completed
  • Application and Obtaining Tax Payer’s ID: In Progress
  • Application for business license and permit: Completed
  • Purchase of Insurance for the Business: Completed
  • Conducting feasibility studies: Completed
  • Generating capital from family members: Completed
  • Applications for Loan from the bank: In Progress
  • Writing of Business Plan: Completed
  • Drafting of Employee’s Handbook: Completed
  • Drafting of Contract Documents and other relevant Legal Documents: In Progress
  • Design of The Company’s Logo: Completed
  • Graphic Designs and Printing of Packaging Marketing / Promotional Materials: In Progress
  • Recruitment of employees: In Progress
  • Creating Official Website for the Company: In Progress
  • Creating Awareness for the business both online and around the community: In Progress
  • Health and Safety and Fire Safety Arrangement (License): Secured
  • Opening party / launching party planning: In Progress
  • Establishing business relationship with vendors – wholesale suppliers / merchants: In Progress
  • Purchase of trucks: Completed

Related Posts:

  • Intellectual Property Management Business Plan [Sample Template]
  • Corporate Training Business Plan [Sample Template]
  • Modeling Agency Business Plan [Sample Template]
  • Lead Generation Business Plan [Sample Template]
  • Coworking Space Business Plan [Sample Template]
  • Translation Agency Business Plan [Sample Template]
  • Shared Office Space Business Plan [Sample Template]
  • Domain Names
  • Websites & Hosting
  • Email & Marketing
  • Partner Programs
  • Reseller Programs
  • Search for Domain Names
  • Auctions for Domain Names
  • Transfer Domain Names
  • Appraise Domain Name Value
  • Browse Domain Name Options
  • Generate Domain & Business Names
  • Domain Broker Service
  • Find a Domain Owner (WHOIS)
  • Investing in Domain Names
  • Website Builder
  • Online Store
  • Tools for Web Professionals
  • All Website Options
  • Web Hosting
  • WordPress Hosting
  • WordPress eCommerce Hosting
  • All Hosting Options
  • SSL Certificates
  • Website Security
  • All Web Security Options
  • Email & Microsoft 365
  • Content & Photo Creator
  • Free Logo Maker
  • Digital Marketing Suite
  • All Marketing Options
  • Call Our Award Winning Support 040-67607600

Explore our online help resources

Have an account? Sign in now.

New to GoDaddy? Create an account to get started today.

  • Control Panel Links:
  • Manage Domains
  • Manage Website Builder
  • Manage Hosting
  • Manage SSL Certificates
  • Manage Email
  • Inbox Links:
  • Office 365 Email Login
  • GoDaddy Webmail Login

business plan for outsourcing company

Setting up a business process outsourcing (BPO) firm [updated]

business plan for outsourcing company

  • Share "Setting up a business process outsourcing (BPO) firm [updated]" on Facebook
  • Share "Setting up a business process outsourcing (BPO) firm [updated]" on X
  • Share "Setting up a business process outsourcing (BPO) firm [updated]" on LinkedIn
  • Share "Setting up a business process outsourcing (BPO) firm [updated]" on Pinterest

There’s never been a better time to start a business process outsourcing or BPO company in India. Spending on business process outsourcing (BPO) services is expected to grow at a compound annual growth rate (CAGR) of 5.8 per cent to reach $8.8 billion by 2025. And India is the world leader in BPO .

"It was in India where the modern concept of outsourcing started," says Ralf Ellspermann, CEO of PITON-Global.

Adding a BPO to an existing IT or web development business can be an effective way to grow.

By definition, BPO is a business practice in which one organization hires another company to perform a task or a process that the hiring organization requires for its own business to successfully operate. These include:

  • Accounting.
  • IT and web development services.
  • Human resources (HR).
  • Quality assurance (QA).
  • Payment processing.
  • Customer relations.
  • Marketing and sales.

Let us explore how small startups in these industries can gain more clients by promoting their services to other businesses — both homegrown and abroad.

How to start a BPO

Many companies look to Indian BPOs to handle their call center, IT, web development or other business processes. Follow these steps to start a Business Process Outsourcing company of your own.

  • Determine the type of BPO you want to start.
  • Write out a business plan.
  • Do the paperwork.
  • Invest in the necessary equipment.
  • Start by accepting short contracts.

Keep reading for tips on hiring, training and promotion.

1. Determine the type of BPO you want to start

Business Process Outsourcing Man Installing Hardware

You need to have strong business acumen and some expertise in your field to know how to run the show in the BPO sector. You have a couple of ways to approach this:

  • Specialize in a specific function that you provide across different industries (known as horizontal BPO).
  • Tailor your services to a specific vertical such as healthcare, financial services, manufacturing, retail or utilities and energy (called a vertical BPO).

The most common BPO services include:

  • Inbound and outbound calls via trained professionals.
  • Transcription services.
  • Website design and SEO services.
  • Processing medical bills and claims.
  • Data entry services.

When setting up a BPO business, it is smart to focus on niche markets. At the same time, it is good to be flexible and open to local and global workforce demands.

2. Write out a business plan

The key to success of your BPO business — like any other entity — is a good business plan. It should include components such as:

  • Projected sales over specific periods of time.
  • Marketing and promotional activities you plan to implement.
  • Funding (whether self, loans or VC funding ).
  • Expenses, including cost of equipment and employee salaries and benefits.

The business plan needs to be thorough and detailed, as it will also help you determine what you need financially.

Business Process Outsourcing Woman Working

Preparing a business plan shows you are serious about the endeavor, and it can help you secure capital through angel investors, government/bank loans or venture capitalists.

3. Do the paperwork

For setting up a business process outsourcing firm in India, you are required to register your business under the Companies Act 2013. Call center and other IT-enabled services should register as Private Limited Companies.

This requires minimum two directors and two shareholders; both can be same person if you want to start small. All directors and shareholders require:

  • Bank statement.
  • Mobile and email ID.
  • Address proof and NOC form.

You can read details on how to register your business here . Once the company is registered, its directors or promoters should open a bank account in the company name.

BPOs doing business via telecom resources must also obtain Other Service Provider (OSP) Licences from the Department of Telecommunication.

Finally, GST registration is required once you have received the OSP Registration Certificate.

4. Invest in the necessary equipment

Those operating call centers will need to invest in good computers, as well as reliable telephone lines and a high-speed internet connection. Most importantly, you’ll need to office space, even if it is a small rented facility or your garage.

Besides regular office supplies, you will also need to purchase:

  • Call center software that integrates with your business tools.
  • Call conferencing and monitoring software.
  • A call recording system.
  • An automatic caller information screen pop-up.
  • Good headsets.

In recent times, the business process outsourcing industry has made use of emerging technologies such as cloud computing, social media and automation to reduce costs and accelerate growth. These are the ideal way to get greater ROI, but it is advisable to deploy technologies in a phased manner.

5. Start by accepting short contracts

Established BPOs have a reputation and a wide network that generates referrals. But for starters, it is best to let client companies try you out for a short time. This will in turn lead to bigger projects.

If you want to offer free trials, say for a few hours, that would be even better.

Some companies might be skeptical about using a new outsourcing company.

Your commitment and the quality of your service will help you win over some good long-term contracts and gradually become a known name in the BPO sector.

Hiring and training

Business Process Outsourcing Computer Screen Showing Code

It is advisable to start small. Just imagine, if you have a 20-seater BPO and not a single client, how do you intend to pay salaries to them? You can start only with two to three people. Ensure that your clients come before the hires.

One option is to outsource the work to reliable part-time or work-from-home candidates.

Many women, especially those with children, prefer this kind of a setup.

A few tips on hiring and training:

  • Advertise in your local newspaper as well as on the internet on local job sites.
  • Look for people who know how to talk and listen to customers while doing other tasks.
  • Offer short coaching sessions for both full-time and part-time hires. For this you should allocate some funds.
  • Set fixed hours or arrange your shifts to perform all the necessary services round-the-clock.

Employees in the BPO sector often do not work in regular shifts. So the training program should enable them to understand and adjust quickly to the changes in schedule and work environment.

While you are expected to hire people who have the right skills, customizing their skills to the needs of specific clients will win you valuable customers. It will also help you gain an edge over your competitors.

Promotion is key to success

Marketing is essential to creating demand for any BPO business. Opt for all the low-cost strategies first, such as:

  • Networking.
  • Social media.
  • Referral partners.

Depending on your budget, part of your digital marketing activity can be outsourced to an expert company.

If feasible, you should advertise on various outsourcing forums, besides having active pages on Facebook, Twitter, LinkedIn, YouTube and other social platforms.

Also, as a reputable business you will need to create a professional website and of course a good domain name to go with it, one that represents your business.

A final word on business process outsourcing

The BPO sector is booming in India. It has also diversified beyond its beginnings. Indian BPOs now offer almost every service imaginable, including ITES outsourcing, with qualified staff able to work remotely in areas like coding and support.

Big corporations in the U.K. and the U.S. hire Indian BPOs because of their efficiency and low cost.

When done effectively, Business Process Outsourcing services guarantee you good profits and great success. If patience, problem solving, and adaptability are your virtues, this is indeed the right time for you to launch a BPO firm. Good luck!

Frequently Asked Questions

What is a bpo give examples..

Business Process Outsourcing (BPO) is when a company in any industry gives responsibility for internal business functions to third-party vendors (in other words, those outside their business).

BPO services are of great demand owing to benefits such as:

  • Reduced costs
  • Increased flexibility
  • Enhanced service quality

BPO also allows organizations to remain focused on their core business activities so that they can deliver value to their customers.

The most common examples of this type of outsourcing are functions and departments like payroll, human resources, accounting, and call centers.

What are the different types of BPOs?

Based on its services and functionalities, BPO services are often divided into two main types:

Back office

Back-office services include internal business processes such as accounting and finance, human resource management, quality assurance, among others.

Front office

Front-office services include, looking after a client's customer-facing businesses, such as marketing, and sales, customer service and tech support, etc. Some BPOs combine these services so that they can function together.

The BPO industry can also be categorized into three types based on its location.

  • Onshore  – The Onshore BPO company operates its business in the same country as the client/contractor. However, they could be located in a different state or city. For example, a customer in Mumbai or Chennai, can outsource their jobs to a BPO firm in Delhi.
  • Offshore  – These BPOs are situated in a different country from customers/contractors. For example – A company in the United States or Australia could outsource their business processes to a BPO company in Indonesia or India.
  • Nearshore  – These BPO companies are located in close by or neighboring countries, like a customer in Germany outsourcing their work to a BPO company in Poland.

How did COVID-19 impact BPOs?

Before COVID-19, BPOs were a fast-developing sector providing a large number of jobs. COVID-19 and the ensuing lockdown took a toll on the Indian BPO industry.

The businesses which needed services from the BPO industry to support their retail operations suffered, as the entire retail market and distribution channel was totally shut.

Work-from-home for BPO companies was not an easy job. Companies, especially in banking, finance and those that require high data sensitivity client protocol disallowed transfer to work-from-home mode and thus, operations remained halted.

IT infrastructure became a key problem making work-from-home difficult. Disruptions caused by essential technologies or setup such as laptops/desktops, poor internet connectivity and other technical glitches, added to the woes.

As India reopens, the spending on business process outsourcing (BPO) industry in India is expected to grow at a compound annual growth rate (CAGR) of 5.8 per cent to reach $8.8 billion by 2025. This is due in part to a liberalisation of regulatory guidelines put in place to sidestep competition from countries like the Philippines, Malaysia, Mexico, and Canada.

What is the future of BPOs in the post-COVID 19 era?

The COVID-19 pandemic created major disruption to businesses worldwide and the BPO industry was no exception. But the changes brought to business functions due to these disruptions are providing impetus to the market in the long run.

Most BPO companies realized the need to change their business models. Many restructured their business continuity plans (BCP) to a distributed workforce, where their employees can work from remote locations.

The post COVID-19 BPO is stronger and more resilient. As more firms are increasingly focusing on reducing the cost of conducting business, BPOs of today should equip themselves with the right technologies such as cloud computing and artificial intelligence (AI) and more for driving business efficiency.


More time = happier clients.

When you use the Hub by GoDaddy Pro, suddenly there’s more time in your day to focus on what matters most. Forget about juggling admin tasks. Reclaim your time and use it to make clients feel like the center of your universe.

Sign up for Free

UPDATE: This business process outsourcing post was first published on 18 March 2019 and updated 26 May 2022.

Understanding the Benefits of Business Plan Outsourcing

Related blogs.

  • How to Develop an Effective Business Marketing Plan
  • How to Use Digital Marketing to Promote Your Business
  • Developing a sound financial plan
  • How to Use Data to Make Better Business Decisions
  • The Pros and Cons of Online Advertising


Business plan outsourcing is the act of assigning certain aspects of a company's business plan to an outside professional. A company may outsource certain aspects of the business plan, such as financial analysis, legal writing, research, and more, in order to free up their internal resources for other tasks and to build an optimized solution. By outsourcing certain components of their business plan, companies are able to gain access to experienced specialists who can bring their expertise and experience to optimize the plan.

Benefits of Business Plan Outsourcing

  • Access to Experienced Professionals: Outsourcing provides access to experienced professionals who have relevant knowledge and expertise in the specific field.
  • Increased Efficiency: Outsourcing specific components of the business plan can help a company save time and resources, and improve efficiency as the outside professionals can complete the tasks quickly.
  • Reduced Risk: By outsourcing, a company can focus their efforts on tasks that are more pertinent and specialized to their core business, which can ultimately minimize their risk.
  • Cost Savings: By outsourcing components of the business plan, a company can save money by not hiring permanent employees and from the economies of scale that come from the outsourced professionals' experience and knowledge.

Increased Efficiency in Business Plan Preparation

Outsourcing business plan preparation yields greater efficiency than handling the work in-house. Companies benefit from the time savings associated with delegating the work, as well as the expert guidance of professionally trained writers and planners.

Time Savings Through Outsourcing

As companies struggle with limited resources, it is often difficult to divert the time and energy necessary for preparing a business plan from scratch. Furthermore, if the team is inexperienced in putting together a business plan, this could easily lead to time wastage, with the risk of not being able to complete the work within the desired timeline. Outsourcing the business plan preparation relieves this problem, as experienced professionals can quickly and accurately compile your business plan, allowing the team to focus their attention on the core projects and goals.

Expertise of Professional Writers and Planners

A professional business planner brings years of experience and expertise to the task of developing and executing a successful business plan. They have the knowledge to identify and extract the essential features of the business and use the resources and skills of the team to develop a practical and effective plan. This process increases the overall competency of the company, since the professionals have the skills to bring out the best in their client’s business. Additionally, they aid in the figure out the best approaches to every critical component of a business plan.

  • Creative thinkers that understand how different markets, competitors, and trends are affecting a businesses.
  • Accurate and up-to-date analytics that help to identify risks and realistically project future performance.
  • Strategic advice on how to maneuver through economic highs and lows.

When it comes to putting together a comprehensive, comprehensive, and accurate business plan, outsourcing is a great option. With the experience and expertise of trained professionals, companies can reduce wasted time and resources, increase efficiency and productivity, and gain insight into the many aspects of their business.

Cost Reductions

When outsourcing a business plan, there are several cost-saving advantages to consider. Most importantly, outsourcing is more cost-efficient than maintaining an in-house team, as it eliminates the need for additional staff, infrastructure and overhead costs. Additionally, outsourcing can facilitate growth in your operations by providing a range of specialist services and skill sets to increase productivity and efficiency.

Staffing Costs

Outsourcing a team of professionals to manage your business plan can be a far more cost-effective approach than hiring, training and managing employees. By outsourcing business plan services, you can avoid the costs associated with hiring additional staff and having to pay related expenses such as payroll, taxes, benefits and car parking.

Growth Costs

Outsourcing can also help to reduce growth costs associated with investing in new infrastructure, applications or additional personnel. As outsourcing frees up existing resources by providing specialist skill sets, it can help to break down barriers to growth and provide solutions to solve complex and challenging issues.

Outsourcing a business plan is an excellent way to benefit from cost savings, as well as access specialist skills and expertise. Companies who outsource can rest assured their business plan is in the best hands and managed and delivered in the most effective manner.

Quality Assurance

Business plans are used for crucial decisions, and the quality of the information you provide within those plans can determine their reliability. Outsourced business plans should offer you an assurance of the quality and accuracy of the information delivered. Quality assurance protocols used by experts should include research on subject matters, market analysis and existing resources, that go beyond a high level of detail but they are tailored to suit your particular requirements.

Reliability of Results

When outsourcing a business plan, you should look for professionals who can deliver results tailored to your specific requirements and offer the best data to help you make a well-informed decision. The reliability of the results should meet the highest quality standards in the industry, providing accurate information you can trust.

Detailed Planning Process

The decision-making process when creating a business plan should include an in-depth analysis of current market conditions, trends, and competition. An expert that offers business plan outsourcing should also provide you with a detailed planning process that includes research on industry-specific subjects and data based on relevant sources. A good process should also identify the cost-benefit analysis for various projects, understand the realistic expectations for future performance, and the resources needed for the completion of the business plan.

By understanding the quality assurance protocols and process that businesses use to create outsourcing plans, you can make an informed decision on the quality of work and information you will receive. Reliable and detailed results can provide the assurance of accurate information when making crucial decisions.

Benefits to External Audiences

When a business chooses to outsource their business plans, the impression it has on external audiences can be immense. Furthermore, there are noteworthy benefits and advantages that businesses can benefit from when relying on external services for their business plans.


Hiring an outside service provider to create a business plan conveys a sense of professionalism to external parties, such as potential clients or investors. It demonstrates that the company understands the importance of a well written and crafted business plan, and that it takes its plans and strategy seriously. Consequently, it is more likely to receive the attention, respect, and consideration from these external parties.

Enhanced Credibility

Similar to the way an outside service provider can increase the company’s professionalism, outsourcing the development of a business plan can also bolster its credibility. Working with an experienced and knowledgeable service provider can guarantee the quality and accuracy of the plan, emphasizing the professionalism of the organization and highlighting its commitment to excellence. This can have a strong positive impact on the company’s credibility.

When considering the benefits of outsourcing a business plan, external audiences should also be taken into account. Partnering with an external service provider can significantly increase a company’s professionalism and credibility in the eyes of potential clients, partners, and investors.

Aligned Goals and Strategies

The success of a business plan depends not only on properly identifying a business’s objectives, but also on how well those objectives are met. Outsourcing a business plan requires an understanding of how to establish an effective and efficient strategy to meet goals. Working with a business plan consultant can help create a plan with realistic objectives and manageable strategies.

Strategic Direction Established

When outsourcing a business plan, it’s essential to have a plan in place to ensure the objectives of the plan are properly established and achievable. A business plan consultant can help identify the strategic direction the business should take, which can guide the decisions made for the business plan itself. This means having clear goals for the plan and strategies to reach them. The consultant can also help determine how to track results, which can allow better decision making in the future.

Core Objectives of Plan Defined

Before outsourcing a business plan, it’s important to identify the objectives of the plan. A business plan consultant can assist with this, helping to create plan goals to ensure success. This can include topics such as growth and financial targets, identifying opportunities, and creating strategies and tactics to meet objectives. Having clear objectives can help ensure success and can make the outsourcing process easier and more efficient.

  • Strategic direction established with clear goals and strategies
  • Core objectives of plan are defined and measurable
  • Results can be tracked and performance is managed

Throughout this blog post, we have discussed the various benefits of creating and outsourcing a business plan. By outsourcing a business plan and creating a customised plan that specifically targets your company’s needs, businesses can generate and navigate growth more easily, reduce costly mistakes, and free-up their own resources for more effective tasks. Utilising the methods of a business plan outsourcing service, companies can access the support of professionals knowledgeable in the latest strategies, tactics and talents.

Summary of Benefits of Business Plan Outsourcing

It is clear that through the process of business plan outsourcing, there are many benefits available to those savvy enough to seek out these services. Companies with an outsourcing strategy stand to gain by:

  • Establishing a well-defined business plan
  • Gaining a better understanding of the market
  • Developing an organisational structure
  • Creating accurate financial projections
  • Making smarter decisions derived from current market information
  • Reducing time and cost to completing a business plan

Encouragement of Companies to Consider Outsourcing Business Plans

For any business concerned about the risks associated with customer uncertainty, slow growth, product innovation, and market competition, a well-designed business plan is one of the most powerful tools for creating bottom-line success. Companies must consider the value of outsourcing business plans and pay attention to the specific details of outsourced services which are critical for success.

Invitation for Further Discussions

We look forward to engaging with businesses to discuss further the advantages of business plan outsourcing. To learn more about our services or to schedule a consultation, you can contact our team and have one of our business plan consultants assist you.

Business Plan Templates

Fundrising Ready

MAC & PC Compatible

Immediate Download

Related Articles

The surprising truth about profitability in the appliance store industry: a deep dive into the numbers, why investing in an alcohol treatment center is more profitable than you think, counting the profits: a closer look at the profitability of accounting agencies, the art of boosting profits in your a la carte restaurant: a comprehensive guide, airbnb: unpacking the profitability of one of the world's most successful companies., the untold story of how car washes are making a fortune: discover the profit potential today, pedaling to profit: unveiling the lucrative world of bicycle couriers, thirsty for success discover the untapped profit potential of running a beer bar, the beauty within profits: discovering the lucrative world of beauty salons, unlocking the profit potential: how to make your beach hotel more profitable, leave a comment.

Your email address will not be published. Required fields are marked *

Please note, comments must be approved before they are published

  • Entertainment
  • Sports Sports Betting Podcasts Better Planet Vault Mightier Autos Newsletters Unconventional Vantage Experts
  • Sports Betting
  • Better Planet
  • Newsletters
  • Unconventional

How to Strategically Decide Which Business Tasks Should Get Outsourced

While outsourcing business tasks can be a great way to stay connected to core business competencies, implementing these processes must be done with careful consideration..


A growing organization requires leaders to rethink current internal processes and make changes that benefit the business in the long run. While keeping every task in-house made sense as a small business with limited resources, attempting to maintain the same setup as a midsize or large business can often end up decreasing productivity, lowering the quality of your offerings and moving the entire team away from core competencies.

Outsourcing business tasks can be an easy way to free up more time and refocus the team's attention on efforts that move the business forward. However, leaders must proceed carefully and have a plan to ensure solid, usable work is produced. To help leaders get a better idea of how to go about implementing outsourcing with their organizations, nine Newsweek Expert Forum members each share one strategic method to leverage when deciding what work should be outsourced.

1. Start at the Basic Level

Start with the basics of who, what, when and why. Align the work chosen for outsourcing with the primary business objective. Are you outsourcing for financial reasons? Is there a high-quality service needed that internal resources cannot fulfill? Understand the objective first, then align the work to be outsourced with the best provider of that service to meet that objective. - Margie Kiesel , Isidore Partners

2. Perform an Assessment of Your Staff's Abilities

To determine what work needs to be outsourced, leaders should perform a staffing assessment to ensure no one on the team can perform the work or be trained to perform the work. Sometimes, leaders do not use their current talent to their full capacity or seek opportunities to promote from within the organization. - LaKesha Womack , Womack Consulting Group

3. Analyze Core Competencies

One strategic method leaders can use to decide what work should be outsourced is conducting a thorough analysis of their organization's core competencies. They should identify tasks outside their core areas of expertise or those that external parties can perform more efficiently and cost-effectively. Outsourcing non-core activities allows leaders to free up internal resources. - Alan Wozniak , Business Health Matters (BHM) Executive Consulting

4. Conduct a Thorough Cost-Benefit Analysis

Identify tasks that are not core to your business, are time-consuming and could be performed more efficiently or cost-effectively by external experts. By weighing the cost of outsourcing against the potential benefits, leaders can make informed decisions that streamline operations and maximize productivity. - Anna Yusim, MD , Yusim Psychiatry, Consulting & Executive Coaching

5. Determine Which Tasks Require More Time or Expertise

It can be difficult to locate reliable professionals who can provide high-quality work. In order to address this challenge, we have begun to outsource tasks that we may not have sufficient time for or lack the expertise to handle. Additionally, we thoroughly verify the potential hire's resume and references to ensure their past work ethic is satisfactory. - Tammy Sons , Tn Nursery

6. Identify Unclear Processes

Documentation and process are vital to successful outsourcing. Test that you have effectively documented processes by delegating internally first. Have an internal resource complete the process with the documentation and test if it is sufficient. If a task can't be documented with a clear process, it won't be successful if outsourced. - Krista Neher , Boot Camp Digital

7. Separate Core Business Functions

Only outsource generic functions that are not your core business. For example, Boeing and Lockheed build aircraft. They can outsource the making of food galleys and tires since these may not be their core competencies, but the actual building and design of the aircraft and its key technical features should remain in-house. - Zain Jaffer , Zain Ventures

8. Seek Alignment

Alignment is necessary. When you outsource, make sure contractors understand the mission, believe in the cause and are onboarded according to your company's values and standards. Help them understand that they are an extension of your company—one team, one dream, one vision. This will ensure the end recipient receives a seamless, cohesive product. - Vonda Wright , L2 Defense, Inc.

9. Ensure You Have a Full Understanding of the Situation

Outsourcing often helps organizations to become more efficient when managed well. After completing a thorough analysis of core competencies, strategic plans and forecasts, resource gaps, capacity planning, time horizon, risk tolerance and quality requirements, leaders can move ahead with outsourcing backed by clear understanding of customer requirements, business operations and market dynamics. - Lillian Gregory , The 4D Unicorn LLC

Uncommon Knowledge

Newsweek is committed to challenging conventional wisdom and finding connections in the search for common ground.

About the writer

To read how Newsweek uses AI as a newsroom tool, Click here.

Newsweek cover

  • Newsweek magazine delivered to your door
  • Unlimited access to Newsweek.com
  • Ad free Newsweek.com experience
  • iOS and Android app access
  • All newsletters + podcasts

Newsweek cover

  • All newsletters + podcasts.

Top stories

business plan for outsourcing company

Syria Says Attacks on US Troops Mean Biden Must Withdraw

business plan for outsourcing company

NATO Gives Ukraine the Go-Ahead to Cross Putin's Red Line

business plan for outsourcing company

Trump Says Letitia James Trying to 'Destroy' New York With His $355M Fine

business plan for outsourcing company

Republicans Push For Discharge Petition Against Mike Johnson

Newsweek magazine cover

  • Starting a Business
  • Growing a Business
  • Business News
  • Science & Technology
  • Money & Finance
  • Subscribers For Subscribers
  • Store Entrepreneur Store
  • Spotlight Spotlight
  • United States
  • Asia Pacific
  • Middle East
  • South Africa

Copyright © 2024 Entrepreneur Media, LLC All rights reserved. Entrepreneur® and its related marks are registered trademarks of Entrepreneur Media LLC

JUST RELEASED: View the 2024 Franchise 500 Ranking

Top 3 Outsourcing Stocks for Going Into March The growth prospects of the outsourcing industry look bright as companies continue to focus on their core competence, improve their operational efficiency, access to external expertise, and reduce costs. Therefore,...

By Dipanjan Banchur • Feb 22, 2024

This story originally appeared on StockNews

The growth prospects of the outsourcing industry look bright as companies continue to focus on their core competence, improve their operational efficiency, access to external expertise, and reduce costs. Therefore, it could be prudent to consider buying fundamentally strong outsourcing stocks QuantaSing Group (QSG), DHI Group (DHX), and ARC Document Solutions (ARC). Keep reading….

The outsourcing industry’s long-term growth prospects look promising as it enables companies to achieve several benefits ranging from cost savings, operational efficiencies, flexibility, scalability, improved focus on core business activities, etc. Additionally, the growing use of technology and the ability to tap into global talent resources will contribute to the further growth of the industry.

Amid this backdrop, investors could consider buying fundamentally strong outsourcing stocks QuantaSing Group Limited ( QSG ), DHI Group, Inc. ( DHX ), and ARC Document Solutions, Inc. ( ARC ).

Outsourcing is a popular business strategy that enables enterprises to focus on their core competencies by entrusting their non-core tasks to specialized service providers. Outsourcing services include IT, customer support, management, staffing, and education services.

Outsourcing allows companies to focus on critical business aspects, access to rare and specialized equipment and a vast talent pool, helps save money on innovation, improves productivity, provides a time zone advantage, reduces dependency, etc., thereby enabling them to gain a competitive edge by focusing on what they do best, helping them to achieve operational efficiency and reduce costs.

There is a rising demand for personalized learning and low-cost and scalable learning systems. Educators are outsourcing to improve learning and development, enhance efficiency, address skill shortages, and reduce costs. The global learning services outsourcing market is anticipated to grow at a CAGR of 5.6% between 2024 and 2031.

Meanwhile, enterprises are outsourcing the recruitment and staffing processes to meet their employment needs. The rising demand for effective recruiting and the trend of outsourcing recruitment to third-party providers is expected to drive growth in the Recruitment Process Outsourcing (RPO) market. The global RPO market is projected to expand at a CAGR of 16.1% , reaching $24.32 billion by 2030.

Moreover, organizations are contracting other businesses to run various business processes, including finance, payroll, compliance, etc. The business process outsourcing market is projected to reach $525.20 billion by 2030, growing at a CAGR of 9.1% .

With these favorable trends in mind, let’s delve deeper into the fundamentals of the featured outsourcing stocks.

QuantaSing Group Limited ( QSG )

Headquartered in Beijing, the People’s Republic of China, QSG provides online learning services in China. The company offers online courses, including financial literacy, short-video production, personal well-being, electronic keyboard, and meditation courses. It also provides marketing and enterprise talent management services to enterprise customers. In addition, the company offers online and literacy courses to adult learners under various brands.

On September 18, 2023, QSG announced its acquisition of Kelly’s Education, an online language education platform headquartered in Hong Kong. This transaction marks QSG’s entry into the global online education market and the language learning sector. After the completion of the transaction, Kelly’s Education will become QSG’s wholly-owned subsidiary.

QSG’s Chairman and CEO Peng Li said, “We are excited to integrate Kelly’s Education and the new brand HKOE into our ecosystem. We congratulate Ken and his team for developing such a strong offering and look forward to our partnership. Their strong business model and seasoned team lays a solid foundation for our global market entry.”

“We plan to broaden our course offerings, including Chinese language learning, and diversify our revenue streams by appealing to a wider age group. We remain committed to fulfilling the ongoing demand from individuals seeking to improve their quality of life and overall well-being through our diverse course offerings,” he added.

In terms of forward non-GAAP P/E, QSG’s 10.01x is 36.6% lower than the 15.80x industry average. Its 2.06x forward EV/EBITDA is 79% lower than the 9.85x industry average. Likewise, its 2.84x forward EV/EBIT is 79.4% lower than the 13.81x industry average.

QSG’s revenues for the fiscal first quarter ended September 30, 2023, increased 31.8% year-over-year to RMB869.14 million ($120.89 million). Its gross profit rose 28.5% over the prior-year quarter to RMB750.94 million ($104.45 million). The company’s adjusted net income attributable to ordinary shareholders of QSG came in at RMB93.97 million ($13.07 million), compared to an adjusted net loss attributable to ordinary shareholders of QSG of RMB60.38 million ($8.40 million) in the prior-year quarter.

Also, its adjusted income per ordinary share came in at RMB0.54, compared to an adjusted net loss per share of RMB1.11 in the year-ago quarter.

Analysts expect QSG’s revenue for the quarter ended December 31, 2023, to increase 15.2% year-over-year to $130.48 million. Its EPS for fiscal 2025 is expected to increase 31% year-over-year to $0.21. The stock has gained 126.3% year-to-date to close the last trading session at $3.53.

QSG’s POWR Ratings reflect solid prospects. It has an overall rating of A, equating to a Strong Buy in our proprietary rating system. The POWR Ratings are calculated by considering 118 different factors, with each factor weighted to an optimal degree.

It is ranked first out of 21 stocks in the A-rated Outsourcing – Education Services industry. It has an A grade for Value and Sentiment and a B for Growth and Quality. Click here to see the other ratings of QSG for Momentum and Stability.

DHI Group, Inc. ( DHX )

DHX provides data, insights, and employment connections through specialized services for technology professionals and other select online communities. Its solutions include talent profiles, job postings, employer branding, and other services comprising virtual and live career events, sourcing services, and content and data services that provide tailored content to help professionals manage their careers and provide employers insight into recruitment strategies and trends.

In terms of forward EV/Sales, DHX’s 1.08x is 42.7% lower than the 1.87x industry average. Its 4.50x forward EV/EBITDA is 47.2% lower than the 8.52x industry average. Likewise, its 0.79x forward Price/Sales is 37.5% lower than the 1.26x industry average.

For the fiscal fourth quarter, which ended December 31, 2023, DHX’s revenue came in at $37.29 million. Its net cash flows from operating activities rose 3.7% year-over-year to $7.62 million. The company’s adjusted EBITDA increased 24.3% over the prior-year quarter to $10.06 million. In addition, its net income came in at $2.15 million. Also, its adjusted EPS came in at $0.04, representing an increase of 300% year-over-year.

For the fiscal year 2025, DHX’s EPS and revenue are expected to increase 18.2% and 4.4% year-over-year to $0.07 and $153.40 million, respectively. It surpassed the Street EPS estimates in each of the trailing four quarters. Over the past month, the stock has gained 10% to close the last trading session at $2.53.

DHX’s strong fundamentals are reflected in its POWR Ratings. It has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.

Within the A-rated Outsourcing – Staffing Services industry, it is ranked first out of 18 stocks. It has an A grade for Value and a B for Stability, Sentiment, and Quality. To see the other ratings of DHX for Growth and Momentum, click here .

ARC Document Solutions, Inc. ( ARC )

ARC is a digital printing company that provides digital printing and document-related services. It provides managed print services, cloud-based document management software, and other digital hosting services. It also offers professional and software services to re-produce and distribute large-format and small-format documents, as well as specialized graphic color printing.

In terms of forward non-GAAP PEG, ARC’s 0.79x is 55.1% lower than the 1.76x industry average. Its 9.46x forward non-GAAP P/E is 50.3% lower than the 19.06x industry average. Likewise, its 0.41x forward Price/Sales is 72% lower than the 1.45x industry average.

ARC’s net sales for the third quarter ended September 30, 2023, stood at $71.06 million. Its adjusted EBITDA came in at $10.03 million. The company’s adjusted net income attributable to ARC amounted to $3.20 million. Also, its adjusted EPS to ARC stockholders came in at $0.07.

Street expects ARC’s EPS for the quarter ended December 31, 2023, to increase 16.7% year-over-year to $0.07. Its revenue for the quarter ending March 31, 2024, to increase 0.4% year-over-year to $69.20 million. Over the past three months, the stock has declined 7% to close the last trading session at $2.65.

ARC’s POWR Ratings reflect this positive outlook. It has an overall rating of A, which translates to a Strong Buy in our proprietary rating system.

It is ranked #2 out of 42 stocks in the B-rated Outsourcing – Business Services industry. It has an A grade for Value and a B for Stability, Sentiment, and Quality. Click here to see the other ratings of ARC for Growth and Momentum.

What To Do Next?

43 year investment veteran, Steve Reitmeister, has just released his 2024 market outlook along with trading plan and top 11 picks for the year ahead.

2024 Stock Market Outlook >

QSG shares were unchanged in premarket trading Thursday. Year-to-date, QSG has gained 126.28%, versus a 4.61% rise in the benchmark S&P 500 index during the same period.

About the Author: Dipanjan Banchur

business plan for outsourcing company

Since he was in grade school, Dipanjan was interested in the stock market. This led to him obtaining a master’s degree in Finance and Accounting. Currently, as an investment analyst and financial journalist, Dipanjan has a strong interest in reading and analyzing emerging trends in financial markets.

The post Top 3 Outsourcing Stocks for Going Into March appeared first on StockNews.com

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick Red Arrow

  • I Tried 3 AI Headshot Generators and There Was a Clear Winner
  • Lock These Are the Highest-Paying Side Hustles for a Single Day of Work
  • An Outpost of a Popular Buffet Chain Has Racked Up Tens of Millions of Views on Social Media. Here's How It Keeps Going Viral .
  • Lock I Biohacked My Way to Better Mood, Sleep and Job Performance — and You Can, Too. Here's How.
  • SMART Goals May Be Holding You Back — Try This Effective Goal-Setting Technique Instead
  • Taco Bell Wants to Be More than a Late-Night Spot as It Unveils New Menu Items for 2024 : 'A Rebel Brand at Our Core'

Related Topics Red Arrow

Most popular red arrow, she bought 9 properties and became an airbnb super host. here's how she scaled her side hustle while keeping her full-time job..

Q&A with an Airbnb Super Host who shares her best secrets to help you scale.

These Age-Old Monk Practices Can Help You Lead a More Focused, Productive and Creative Life

Buddhist and Benedictine monks have some ancient habits that every hard-working entrepreneur should know.

'These People Didn't Do Anything Wrong,' But Their Standard of Living Might Plummet in Retirement — Here's Why

Most American workers feel behind where they think they should be on their retirement savings.

'I Want a Free Month': Thousands of Customers Furious at AT&T After Widespread Outages

The carrier has not yet disclosed the root cause of the issue.

He Started a Side Hustle in His Parents' Basement and Won Big on Richard Branson's TV Show. The Business Saw Over $650 Million in Annual Revenue Last Year.

Shawn Nelson, founder and CEO of furniture manufacturer Lovesac, thought it would be "funny to make a giant beanbag chair."

Want to Start a Billion-Dollar Business? Look to These Two Industries, Which Have the Most Unicorn Growth

During a tough fundraising year overall last year, the value of cybersecurity and AI unicorns saw double-digit growth.

Successfully copied link


  • International

live news

Russia-Ukraine war

live news

Odysseus lunar lander

Odysseus becomes first US spacecraft to land on moon in over 50 years

By Elise Hammond and Jackie Wattles , CNN

Meet Intuitive Machines, the company behind the Odysseus lunar mission

From CNN's Jackie Wattles

Intuitive Machines Co-Founder, President, and CEO Steve Altemus talks about the IM-1 Lunar Lander, Nova-C, during a press event, in Houston, in October 2023.

Intuitive Machines is a Houston-based company just up the road from NASA's Johnson Space Center, or JSC. It was founded in 2013 by a trio of space enthusiasts:

  • The current CEO, Steve Atlemus, who formerly served as the deputy director of JSC
  • Kamal Ghaffarian, the current chair of the board, who has experience across legacy aerospace companies
  • Tim Crain, the company's chief technology officer, who previously worked as a lead engineer at JSC

The company reached a massive milestone in 2021 when NASA selected the company as a provider in its Commercial Lunar Payload Services, or CLPS, program.

It's one of several private-sector companies that have been tasked by the space agency to get robotic landers to the moon as NASA works on separate plans to return its astronauts.

The contract for this mission was originally worth under $80 million. But it was later renegotiated, and — all told — Intuitive Machines could receive up to $118 million from NASA for this mission.

The company also went public last year, via a reverse merger. Its stock has been on a tear recently amid its successes in space, surging up about 80% over the past five days as of Thursday afternoon.

Intuitive Machines moves up landing time after "correction maneuver" overnight

Intuitive Machines shared several possible landing times for Odysseus over the past several days, and the projected touchdown has only moved earlier.

The company has announced a new landing time of 4:24 p.m. ET — more than an hour sooner than previously announced.

Intuitive Machines has acknowledged the landing time was subject to change.

The company shared the reason for the update: "Flight controllers commanded a lunar correction maneuver to raise Odysseus’ orbit overnight and updated the anticipated landing time," according to a post on X .

What we know about the Odysseus lunar lander's journey to the moon

Intuitive Machines' Odysseus lunar lander lifts off to space in Cape Canaveral, Florida, on February 15.

The Odysseus lunar lander, nicknamed “Odie” or IM-1, is aiming to make the first touchdown of a US-made spacecraft on the moon in five decades on Thursday.

Its launch followed closely on the heels of a separate  US lunar landing mission  that failed in January. NASA has ramped up the development of robotic spacecraft via private partners to evaluate the lunar environment and identify key resources before it  attempts to return astronauts  to the moon later this decade.

Odie's journey to the moon: A SpaceX Falcon 9 rocket fired Odie into Earth’s orbit last week, blazing to speeds topping 24,600 miles per hour (about 40,000 kilometers per hour), according to Intuitive Machines, the Houston-based company that developed the spacecraft under contract with NASA through its Commercial Lunar Payload Services program.

After burning through its fuel, the rocket detached from Odie, leaving the lunar lander to fly solo through space. The robotic explorer then consulted an onboard map of the stars so it could orient itself in space, pointing its solar panels toward the sun’s rays to charge its batteries.

The spacecraft entered orbit around the moon, which is roughly 250,000 miles (about 400,000 kilometers) away from Earth, on Wednesday morning, according to the company .

See some of the first images from "Odie" on its way to the moon

The first images from the Odysseus lunar lander provided a view of Earth from space as the craft made its way to the moon. After being launched last week, the lander is aiming to land on the moon's surface on Thursday.

Intuitive Machines successfully transmitted its first IM-1 mission images to Earth on February 16, 2024. The images were captured shortly after separation from SpaceX's second stage on Intuitive Machines’ first journey to the moon under NASA's CLPS initiative.

More images to come: The spacecraft, nicknamed “Odie” or IM-1 , also houses a camera system called EagleCam that was developed by students at Embry-Riddle Aeronautical University in Daytona Beach, Florida. The device is set to pop off of the lunar lander as it approaches the surface and capture images of the vehicle’s descent.

“Hopefully, we’ll get a bird’s-eye view of that landing to share with the public,” Intuitive Machines CEO Stephen Altemus said.

What the "Odie" lunar lander will do on the moon

This screengrab shows Intuitive Machines' Odysseus lunar lander separates from the rocket's upper stage and heads toward the moon.

The Odysseus lunar lander, nicknamed “Odie," is on a scouting mission of sorts to the moon. The spacecraft is designed to assess the lunar environment ahead of NASA’s current plan to return a crewed mission to the moon through the Artemis program in late 2026 .

If the landing is successful on Thursday, Odie is expected to operate for seven days on the lunar surface before darkness falls on the landing site at the moon's south pole, plunging it into freezing temperatures.

Packed on board the lunar lander are six NASA science and technology payloads. They include a radio receiver system that will study lunar plasma, which is created by solar winds and other charged particles raining down on the moon’s surface.

Other payloads will test technology that could be used on future lunar landing missions, such as a new sensor that could potentially help guide precision landings.

Odysseus' landing attempt comes after a failed US mission last month

Astrobotic Technology shared this January 18 image of the Peregrine lunar lander in space. The Earth is visible (background), appearing as a crescent lit by the sun. 

The Odysseus lunar lander is aiming to make history on Thursday — but landing on the moon will be a dangerous feat.

If the landing fails, it will join a growing list of missions that have unsuccessfully sought a lunar touchdown. Last month, the first US-built lunar lander to launch in five decades, Astrobotic Technology’s Peregrine, was hampered by a critical fuel leak. That came after two failed missions from other countries in 2023: one from  Russia  and another from a  company  based in Japan.

China ,  India  and  Japan  are so far the only nations to have soft-landed vehicles on the moon in the 21st century.

US is attempting to land on the moon for the first time in more than 50 years — for a fraction of the price

From CNN's Kristin Fisher and Jackie Wattles

A rendering shows Intuitive Machines IM-1 Nova-C lander on the moon.

A phone booth-size spacecraft called Odysseus , or IM-1, is set to take on a challenge no vehicle launched from the United States has attempted in more than 50 years: landing on the moon. The last time the US landed a spacecraft on the moon's surface was its robotic  Surveyor 1  in 1966.

But the lunar landers of the 21st century, like Odysseus, are attempting to accomplish many of the same goals the US had during the space race at a small fraction of the price.

At the peak of the Apollo program, NASA’s budget comprised over 4% of all government spending. Today, the space agency’s budget is one-tenth the size, accounting for only 0.4% of all federal spending, even as it seeks to return American astronauts to the moon under the  Artemis program .

NASA is attempting to drastically reduce prices by outsourcing the design of small, robotic spacecraft to the private sector through its Commercial Lunar Payload Services program, or CLPS. If the landing is successful, Odysseus will be the first commercial spacecraft ever to soft-land on the moon.

“We’re going a thousand times further than the International Space Station,” Intuitive Machines President and CEO Steve Altemus told CNN. “And then, on top of that, you set the target: Do it for $100 million when in the past it’s been done for billions of dollars.”

Please enable JavaScript for a better experience.

Exclusive: Nvidia pursues $30 billion custom chip opportunity with new unit

Illustration shows NVIDIA logo


Reporting by Max Cherney and Stephen Nellis in San Francisco; Additional reporting by Supantha Mukherjee in Stockholm and Krystal Hu in San Francisco; Editing by Kenneth Li, Peter Henderson, Jamie Freed and Alexander Smith

Our Standards: The Thomson Reuters Trust Principles. , opens new tab

Intuitive Machines' Odysseus spacecraft passes over the near side of the Moon following lunar orbit insertion

Meta's Oversight Board includes Threads under its purview

Meta Platforms' Oversight Board said on Thursday it would include social media platform Threads under its purview, allowing users to appeal the company's content moderation decisions.

Illustration shows words


  1. How To Make A Plan For Outsourcing In Your Business

    business plan for outsourcing company

  2. Outsourcing: How It Works in Business, With Examples

    business plan for outsourcing company

  3. Business Process Outsourcing (BPO) PowerPoint Template

    business plan for outsourcing company

  4. The Best Business Outsourcing Process

    business plan for outsourcing company

  5. Outsourcing Business Plan Writing a Good Practice for Small Businesses

    business plan for outsourcing company

  6. 7 Core Benefits of Outsourcing Business Intelligence (BI) Services

    business plan for outsourcing company


  1. business plan

  2. Business Plan 🤪

  3. Business plan

  4. business plan

  5. The Only Business Checklist New Entrepreneurs Need

  6. Outsourcing Triumph: Revolutionizing Housing with Group Home Riches


  1. How To Write a Business Plan for IT Outsourcing Company in 9 Steps

    Market research is a crucial step in developing a business plan for an IT outsourcing company. It provides valuable insights into the industry landscape, potential customers, and competitors. By conducting thorough market research, you can make informed decisions and create a solid foundation for your business.

  2. Outsourcing Plan Template

    6 projects 6 KPIs Each focus area has its own objectives, projects, and KPIs to ensure that the strategy is comprehensive and effective. Who is the Outsourcing Plan template for? This Outsourcing Plan template is designed for teams of any size, from small startups to large corporations, and for any industry.

  3. Sample Outsourcing Business Plan

    i. Executive Summary This is the first section of the plan in order of arrangement. It's the section potential investors will want to see before anything else. It's called the executive section because it provides a brief overview of your outsourcing business plan.

  4. 6 Steps for Building a Successful Outsourcing Strategy

    1. Outline Detailed Outsourcing Goals A company that clearly defines its outsourcing goals early on is already one step ahead of the competition.

  5. Outsourcing Business Plan

    A custom business plan supports your company's unique approach to the market for its outsourcing business. The professional team at Pro Business Plans works with your company to analyze every dimension of the business model and outline a clear plan of action and profitability forecasts for your internal analysis and financing acquisition.

  6. How to start a BPO business (step-by-step guide)

    What Is BPO? How To Start A BPO In Six Steps Determine The Type Of BPO You Want Develop A Business Plan Do The Paperwork Invest In The Necessary Equipment Staff Your BPO Firm Marketing Your Business And Getting Clients What is Business Process Outsourcing (BPO)?

  7. Write your business plan

    Executive summary. Briefly tell your reader what your company is and why it will be successful. Include your mission statement, your product or service, and basic information about your company's leadership team, employees, and location. You should also include financial information and high-level growth plans if you plan to ask for financing.

  8. Outsourcing: How It Works in Business, With Examples

    Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that were traditionally performed in-house by the company's own employees and...

  9. The Future Of Outsourcing—And How To Outsource The Right Way

    Outsourcing is the practice of hiring a third party to provide, manage or handle a business function that could otherwise be performed internally. For example, outsourcing includes...

  10. How to Start an Outsourcing Company

    Make a Business Plan. Put everything on paper and draft a business plan before launching your outsourcing company. Decide on a business model, research the legal requirements and make a list of outsourcing countries. India, China and Malaysia, for example, are the go-to choices for business process outsourcing and offshore business services.

  11. Outsourcing 101: When and How to Outsource

    March 1, 2023 As a business owner, you know that you eventually want to scale your business — but how? A big part of scaling is outsourcing some of your work! In this article, we'll look at how to know when to outsource versus doing it yourself, how you can start going about it, and what some of the benefits are. What is outsourcing?

  12. Write Business Plan for IT Outsourcing Firm in 9 Steps

    In conclusion, writing a business plan for an information technology outsourcing firm in nine steps can help ensure a successful and profitable venture. By conducting market research, identifying the target market and customer needs, analyzing the competition, and developing a unique value proposition, the firm can position itself for success ...

  13. What Is Business Process Outsourcing (BPO)?

    Business process outsourcing (BPO) happens when a company outsources entire business functions to be handled by another company. For example, companies can outsource their marketing, payroll ...

  14. Outsourcing Strategy: Examples, Benefits and How To Build

    An outsourcing strategy is a plan that describes how a company hires third-party companies or individuals to perform tasks. As an alternative to relying solely on internal employees, this approach can reduce expenses, increase productivity and improve the overall quality of the final product.

  15. Outsourcing Plan: Why You Need It and How to Make It

    To create a well-developed plan, first, you must thoroughly examine your business and set a clear goal. Retain the strong suits of the company; if something is working for you there is no need to change it. If you are running a small business, avoid outsourcing areas that directly impact customers.

  16. Your 8-step implementation plan to outsourcing success

    The below 8 steps will help you and your business set up an effective, all-inclusive outsourcing implementation plan. Find out if your business is ready for outsourcing

  17. A new business model for outsourcing enterprises

    The expansion in outsourcing has been driven by another segment. 1 Source: Business process outsourcing (BPO) worldwide, 2019. This segment, this outsourcing-function that is showing a rapid increase year-on-year - more abrupt than any other functions - is customer experience/customer care.

  18. Free Outsourcing Business Plan PDF Template

    Checklist for Starting a Outsourcing Business: Essential Ingredients for Success If you are thinking about going into business, it is imperative that you watch this video first! it will take you by the hand and walk you through each and every phase of starting a business.

  19. Outsourced Computer Support Business Plan Example

    Customers will be billed on an hourly basis of $120. Engineers will be paid a salary, plus $25 per hour for on-call and overtime. Employees who establish the new project/contract will be paid a 5% bonus of the total project / contract price. Business call time of cell phones will be reimbursed. General Assumptions.

  20. BPO Company Business Plan [Sample Template]

    A Sample BPO Startup Business Plan Template. 1. Industry Overview. The Business Process Outsourcing (BPO) industry has no dominant company with a large share of the market. The industry is valued at $136 billion and has grown at a 4% per annum between the periods of 2010 to 2015. There are more than 162,000 such businesses in the united states ...

  21. Setting up a business process outsourcing (BPO) firm [updated]

    Follow these steps to start a Business Process Outsourcing company of your own. Determine the type of BPO you want to start. Write out a business plan. Do the paperwork. Invest in the necessary equipment. Start by accepting short contracts. Keep reading for tips on hiring, training and promotion. 1.

  22. What Kind of Outsourcing Can Help You Scale Your Business?

    The numbers show that outsourcing certain functions makes good business sense. Deloitte's Global Outsourcing Survey highlights that 65 percent of respondents see outsourcing as helping them focus ...

  23. Understanding the Benefits of Business Plan Outsourcing

    Introduction. Business plan outsourcing is the act of assigning certain aspects of a company's business plan to an outside professional. A company may outsource certain aspects of the business plan, such as financial analysis, legal writing, research, and more, in order to free up their internal resources for other tasks and to build an optimized solution.

  24. Business Plan Outsourcing

    Only you can decide whether or not outsourcing your business plan is the right decision for your company. But if you do decide to outsource, there are a few things you need to keep in mind. First, you need to remember that a business plan consultant is only capable of transforming the ideas, concepts, and numbers you provide into a coherent and ...

  25. How to Strategically Decide Which Business Tasks Should Get ...

    3. Analyze Core Competencies. One strategic method leaders can use to decide what work should be outsourced is conducting a thorough analysis of their organization's core competencies. They should ...

  26. Top 3 Outsourcing Stocks for Going Into March

    Street expects ARC's EPS for the quarter ended December 31, 2023, to increase 16.7% year-over-year to $0.07. Its revenue for the quarter ending March 31, 2024, to increase 0.4% year-over-year to ...

  27. St. Louis-based Simploy plots 'aggressive ...

    Simploy, a south St. Louis County firm that provides outsourced human resources services, plans to significantly grow as a new generation of leadership takes over the company.

  28. Meet Intuitive Machines, the company behind the Odysseus lunar ...

    The company has announced a new landing time of 4:24 p.m. ET — more than an hour sooner than previously announced. Intuitive Machines has acknowledged the landing time was subject to change. The ...

  29. Exclusive: Nvidia pursues $30 billion custom chip opportunity with new

    According to estimates from research firm 650 Group's Alan Weckel, the data center custom chip market will grow to as much as $10 billion this year, and double that in 2025. The broader custom ...