Cost cutting exercises are taking place in many organisations. Redundancies and salary cuts appear to be quick solutions to reduce operating costs by 10-25%. However, there are also other ways to reduce operating costs. Outsourcing of non-core functions is one of these options. Outsourcing can include smaller niche operations such as internal audit as well as larger functions such as payment processing and accounting. However, it can be quicker and easier to achieve immediate cost savings by outsourcing smaller non-core functions.
Has your organisation seriously considered outsourcing
How to decide which smaller non-core functions you should outsource
Smaller non-core business functions that have been outsourced successfully by some organisations in Hong Kong include the following...
