When to Outsource and When to In-house Data Management Tech

1. When to Outsource and When to In-house Data Management Tech There are some key things businesses must have in mind when considering whether to in-house data management tech development or use outsourced solutions. Managed Outsource Solutions 8596 E. 101st Street, Suite H Tulsa, OK 74133 www.managedoutsource.com (800) 670 2809

2. Data is what makes a business tick and every business organization holds a significant amount of data that needs to be put to good use. In this age of Big Data, companies must manage and report their data to generate better insights and drive sales. You need to clearly understand which channels are functioning and which are not. When thinking of data processing and management, paper-based data that continue to exist must be ideally scanned and stored in the desired digital format. This can be efficiently done with the support of professional data conversion services. Apart from digitization of paperwork, proper data management is also crucial. Data management is the development and execution of business processes to manage the information generated by the organization. Proper management of data is vital for companies to be in compliance with various applicable regulations and policies. Advanced technology is necessary for efficient data management and for deriving valuable insights. Typically, businesses consider developing data management tech with in-house technical teams. The important question is whether in-housing is always the right approach. There is no doubt that having your in-house tech team develop the required technology will have its own benefits. However, this will involve high costs. Moreover, when resources are spread across multiple products and projects, there could be a lack of business focus. Therefore, when faced with developing a technical solution that you need for your business, there are some questions to consider. • Do you have the expertise and knowledge to build the tech solution in-house? • Are there any solutions already available in the market that can ideally meet your needs? • Will in-housing be expensive or take resources from other projects that are more important? • Can you support the technology on an ongoing basis? Outsource or In-house In-house tech teams will have a subtle understanding of the company’s products or services but may have only broad knowhow. While this is fine for day-to-day operations, it could become problematic when you need a more specialized skill set for certain projects. Though outsourced tech teams may not have firsthand knowledge of a company’s internal workings, they come with a range of expertise that can address the company’s specialized requirements. When making a decision to outsource or not, organizations must consider the scope of their project, budget and deadline. www.managedoutsource.com (800) 670 2809

3. ➢Suppose you are developing a product that requires long-term commitment and international goals, in-housing may be a better option because your will have the entire team in one place and you can bring in modifications to the project even at short notice. Make sure that you hire the right people who have a passion for the work they are doing and want to grow with you. ➢Suppose you are developing a product for which you have obtained sufficient venture capital funding. But you don’t have a proper team to kick-start your project. Here, seeking outside support is your best option. Even established businesses can benefit from tech outsourcing as well as back office outsourcing. There are big businesses that may not have the manpower, equipment or expertise to handle certain specialized projects such as upgrading their mobile and web presence. They can consider obtaining support from a good business process outsourcing company. ➢This will relieve them from the difficult task of recruiting an experienced team of professionals and buying the necessary hardware or software. Buying the necessary equipment and putting a team in place could take months whereas with outsourcing you can start the project immediately. ➢Outsourcing reduces overhead costs as well because you need not spend money on annual salaries and benefit packages of a full-time in-house team, especially for short-term projects with tight deadlines. What businesses can look for are outsourced solutions that are dedicated, and you get to associate with a team that works like an in-house team. Businesses that are hesitant to outsource are concerned about lack of control over the external team, different work schedules and culture. However, many such concerns are groundless. As a client, you will maintain control over the entire team even if it is not under the same roof. There are a number of business process outsourcing companies that can customize their resources to exactly suit your needs. You just need to search and find the right provider. www.managedoutsource.com (800) 670 2809