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Qvantage is well positioned to act as a Third Party Vendor (TPV) to other technology firms. With offshore outsourcing set to grow exponentially, most technology companies have 2 options to offer speed to market, cost containment, and 24X7 delivery to their clients:
1) Setup a captive unit at an offshore destination.
Building a captive unit offers more control, but is a costly proposition. An organization following this strategy will have to learn about a foreign country, its work practices, its local traditions, its economy, etc. Furthermore, setting up a captive unit will expose an organization to country risk, currency risk, business risk, and financial risk. Thus the learning curve could be very expensive and time consuming. Following this strategy can even run the risk of steering an organization away from its core focus.
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2) Partner with a TPV, like Qvantage.
Alternatively, an organization can partner up with a Third Party Vendor (TPV), like Qvantage, and begin reaping offshore benefits within a short amount of time. Based on the project and due diligence, Qvantage can begin delivering offshore services to a client within 1-2 months of the initial inquiry. One of the key advantages of working with a third-party vendor (Qvantage) is the opportunity to delegate repetitive work to our motivated team in India who views your chores as their core competency and platform for advancement within Qvantage.
Working with a third-party vendor (Qvantage) makes it possible for you to focus on your core business while we concentrate on our core business of improving the efficiency of the outsourced process. Having had worked with multiple customers, Qvantage has developed best practices which can be migrated across your organization to improve quality and reduce costs.
All TPV opportunities can be monitored and optimized by following the 5 golden rules of offshore outsourcing:
1. Develop enduring relationships between key management personnel.
The usefulness of the relationship between the key management personnel of both teams depends on good understanding and strong working ties between them. Studies on outsourcing success stories have demonstrated that working chemistry in management and peer friendships among employees have proved to be important determinants in forming long-term relationships that yield real value.
2. Present a Quantifiable Objective.
A useful performance criterion includes quantifiable objectives and clarifies expectations of the quality of service. If you can get a hold of SLAs for comparable projects, they will serve as reasonable starting points—but remember, these are negotiable. In any event, ensure that exact objectives and expectations are included in the SLA and are understood by both organizations prior to implementation.
3. Pre-determine the Incentives and Penalties Schemes.
The provider should be driven to meet the established customer expectations or even exceed it by adopting the performance based pricing criteria. If performance of the service provider exceeds expectations, then incentives should be given; conversely, appropriate penalties should be imposed if objectives are consistently missed.
4. Review Periodically to Maintain Successful Relationships.
Organize formal review meetings often. During the meetings, both sides can discuss the performance of both teams and determine the future objectives or goals of the company accordingly. They can also discuss product reviews and deliverables during these meetings. Keep in mind that performance objectives may need to be continually revised according to changing market conditions and the opportunity costs of both firms.
5. Communicate Well & Often to Bridge Cultural Differences.
The parties involved in an outsourcing relationship belong to distinct cultures, these differences have to be accepted and bridged. The cultural understanding between the two organizations can be enhanced by organizing social events, educating about company background, participating in each others’ quality programs, etc. Communication really is the key to a healthy relationship. It may be helpful to send a loyal employee to the BPO site for a few months to facilitate understanding in the implementation phase. |
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