Sensible savings: why Indian companies are increasingly turning to outsourcing

Outsourcing is on the rise worldwide, and the reasons are clear. In the current global economic climate, companies need to save money wherever they can. And the numbers clearly show that outsourcing functions like payroll management can lead to significant savings compared to an in-house solution.

Studies have shown that companies who retain functions like payroll and compliance in-house can spend 18% more than companies who outsource on average. Significantly, the costs make a larger dent into overall profitability for small and medium enterprises (SMEs), where spends have to be planned out even more carefully.

India is no exception to the international trend. Finances are tight for everyone and while hiring your own payroll and compliance team might seem commonsensical, it’s more expensive and less effective than outsourcing to a specialist. Outsourcing partners take on the onus of acquiring and retaining relevant skill sets, upgrading software and staying up to date with legal requirements.

The trend has been given a boost by the Insurance Regulatory and Development Authority’s decision to exclude functions like payroll management from its list of core functions that should be excluded from outsourcing. This not only allows SMEs to reach out to partners who can handle their needs effectively, it’s also created a competitive domestic outsourcing space. Vendors vie with each other for a share of the market, ensuring that their skills and costs are attractive.

The winners are the SMEs who can now rely on an outsourcing partner who understands the arcane details of payroll management or compliance and offers services at a great price point. An outsourcing partner with a proven track record and a commitment to service excellence; someone just like Alp Consulting, in fact! Find out if we can help you save sensibly and function more efficiently by dropping us a line. We look forward to hearing from you.

Print Friendly, PDF & Email

0 thoughts on “Sensible savings: why Indian companies are increasingly turning to outsourcing

Leave a Reply

Your email address will not be published.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



accounting & payroll services     benefits of hr outsourcing     compliance audit service     compliance management     compliance management system     compliance online     compliance outsourcing     compliance outsourcing Services     compliance requirements     hr compliance     hris outsourcing solutions     HR Software     it compliance management     legal compliance     outsource payroll process     Outsource payroll services     outsourcing     outsourcing partners     payroll & compliance outsourcing     payroll accounting software     payroll and statutory outsourcing services     Payroll Companies     payroll management     Payroll Management Solutions     payroll management system India     payroll outsourcing     payroll outsourcing companies india     payroll outsourcing services     payroll process     payroll process for SMEs     Payroll processing     payroll process outsourcing     payroll service providers Bangalore     payroll services     payroll services in Bangalore     payroll software system     Process outsourcing     statutory and regulatory compliance     Statutory Compliance     statutory compliance management     statutory compliance outsourcing     statutory compliance outsourcing services     statutory compliance outsourcing solutions     web based payroll system     what is hr outsourcing     Best Payroll services in india     Compliance Services     Outsourcing Statutory Compliance Services     Best payroll management services in India     Payroll Management Services     Human Resource Management     Human Resource Management Company     Best Hrms Software     Statutory Compliance Checklist     Hr Management System     Human Resource Planning Process     HRMS Salary Slip     compliance checklist under labour laws     labour law compliance checklist     attendance management system     employee attendance management     leave management     leave management system     Payroll Salary Software     Payroll Software     Compliance Services in HR     HR Compliance Services     Statutory Compliance Services     HRMS Payroll Software     Payroll Management Software     Payroll Software services     Payroll Management System     Payroll Processing Company     Compliance Services Outsourcing     Payroll service providers     payroll outsourcing services india     small business payroll services    
May 2012
  1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 EC