/24-7PressRelease/ - MAKATI, PHILIPPINES, November 18, 2007 - Most mortgage companies are still feeling the brunt of the mortgage implosion a couple of months back. It seems that for most players in the industry, it is a choice between "playing it safe and wait until things get better" or "close down shop and move somewhere else". The mortgage industry may still be reeling in the slowdown, but there are other options .
Here are some ways how outsourcing can help you stay ahead at these times and position yourself for a better market condition.
1. Outsourcing boosts your profits.
As with most industries, cutting costs can mean saving your business. Outsourcing some of the back office work such as processing, quality support and clerical or analysis functions can reduce your manpower costs by an average of 40 percent. If you factor in other overhead costs such as office space and utilities, the savings will simply be bigger. It doesn't mean however that you should go out and look for the cheapest outsourcing provider as they will reduce your cost the most.
Many companies get burned with outsourcing deals simply because they chose to stick with the cheapest deals instead of those that can provide the best value and service. The bottomline is to increase your return of investment and focusing single-mindedly on reducing costs will doom your outsourcing endeavors from the start.
2. Outsourcing increases your productivity.
There are those who say that outsourcing may save you some money, but will lead to a loss in productivity. This may be true in some cases as a number of companies suffer losses in the transition stage. However, as a number of outsourcing providers and clients can testify, if outsourcing is done properly it will lead to an increase in productivity.
From Infinit-O's experience with its clients, an average of 30% increase in production and service levels are observed. Besides Infinit-O's unique brand of managing outsourcing partnerships, the increase is attributed to the client's mindset and approach towards outsourcing.
Most of Infinit-O's clients re-invest the savings that they get from reduced operational cost to increase their capacity. For example, an average loans processor in the US who can process 20 loans a month earn US$ 4,000.00 a month. By outsourcing, you will spend the same amount to maintain 2 loans processors who can process 20 loans each, doubling your capacity at no additional cost! This would especially be true if you have assessed that your processes are ready for outsourcing, and outsourcing companies like Infinit-O will gladly help you figure that out at no cost.
In the next article, I will discuss the other three ways on how outsourcing can help your business.
For more information visit http://www.infinit-o.com
CONTACT DETAILS
Infinit Outsourcing, Inc.
2/F ALPAP Building
140 LP Leviste Street
Salcedo Village, Makati City
1227 Philippines
Richard Eldridge
(866) 727 2504
richard.eldridge@infinit-o.com
About Infinit-O
Infinit-O is a leading business process outsourcing (BPO) company in the Philippines providing back office outsourcing solutions and knowledge process outsourcing (KPO) solutions in the financial services and healthcare sectors.
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