5 signs it's time to start co-sourcing

There are many ways co-sourcing can benefit a growing business. But there are 5 common trigger points that businesses should start to consider a co-sourcing solution to support their business growth.

Your current employees can’t fulfil certain projects

Skills gaps are inevitable, especially in smaller organisations where departments are often run by just one or two people.  If you’ve been growing steadily you’ll probably find that the demands and requirements of your business infrastructure are increasing, and not necessarily in line with the skills and resource you currently have available in-house.

Co-sourcing with Fact3 can help: By providing the additional skills to support your in house team, working closely with them to close the skills-gap you can operate more efficiently, your staff will be happier and you have the support to facilitate further business growth.

You don’t have the budget for more FTEs

Full time employees are a huge expense to an organisation. Not only are you looking at salary, there’s national insurance, pension auto enrolment and national insurance, not to mention package enhancing benefits.  You may need additional support but adding staff to the payroll may not be a realistic solution. 

Co-sourcing with Fact3 can help: Because co-sourcing strategies are agile, you can engage co-sourced talent as and when you need it, withdrawing support when you don’t and increasing support when you do, avoiding the costly commitment of an FTE. 

Your organisation is struggling to progress 

If you’ve grown quickly, it’s likely that you no longer have enough time to focus on the core competencies of the business because your time is being taken up with business process and operational maintenance.  

Co-sourcing with Fact3 can help: Spend your time developing strategies and driving your core business forward whilst your co-sourcing partner concentrates on execution and business processes.

You need new systems but can’t resource the deployment 

Perhaps you’ve realised you need a new accounting system to support the volume of work you’re now delivering, or you’ve grown to a level that requires a whole new email system.  You may well have the skills in house to deliver these projects, but you simply don’t have time. 

Co-sourcing with Fact3 can help: For one, your co-sourcing partner has access to cutting edge business process technology, so you don’t need to implement it yourself.  Two, if your organisation does need system deployment but you haven’t got the resource to do it yourself, your co-sourcing partner can deliver this project for you.

Your Accounts, HR and IT departments all require support 

You may find yourself in a position where all of your core business functions need support at the same time.  You can’t resource FTEs, deployment of new technologies across all three areas isn’t affordable or realistic and it’s difficult to assess which area’s growth and development to prioritise. 

Co-sourcing with Fact3 can help: We specialise in co-sourcing across Accounts, HR and IT. We can provide a full service co-sourcing strategy, or individual services based on your needs. This means you don’t need to waste time sourcing providers across multiple disciplines.

Co-sourcing is the perfect solution for a wide range of organisations.  If you think your business could be in need of a co-sourcing solution, book a no obligation consultation with one of Fact3’s experts here.