Outsourcing options to help you compete as market pressures grow

Transforming your business

As market pressures grow, how do you stay competitive?

Could it be time to challenge your business model, and explore the idea of business process outsourcing?

Within the accountancy and legal sectors, outsourcing has been widely adopted by firms keen to cut costs and increase profits. With Evolve IS – the first credible supplier for the insolvency industry – you can now take advantage of the same opportunities.

Outsourcing – the opportunities

When done well, outsourcing delivers both direct financial and broader business benefits.

Direct financial benefits

How do the following sound?

Staff able to realise their fee-earning and business development potential

With less statutory/non-billable work, your team have more time for billable and business development tasks – asset realisation, chasing DLAs, drafting fee approval, case progression, and networking.

Fewer work in progress (WIP) provisions and write offs

How many jobs are ‘burials’, with no post appointment time billed? Outsourcing reduces WIP write-offs, making your business more profitable.

Higher realisable rates

All too often, the time you charge for doesn’t accurately reflect the time put in. Outsourcing gives you a fixed disbursement cost – no more missing hours.

Lower headcount, reduced overheads

With outsourcing, you’re free from the burden of recruiting and managing the relevant staff – and you’re not covering any of the associated overheads.

Broader business benefits

Direct financial benefits are just the start.

Outsourcing can also help you to:

➡  Improve/ensure compliance
➡  Fill skills and knowledge gaps
➡  Gain a competitive edge by providing additional services
➡  Redeploy resources to win more work
➡  Take on more insolvency jobs
➡  Handle larger jobs
  Prevent missed opportunities
  Reduce the need for future investment
  Realise cash by selling no-longer needed assets
  Focus on core competencies
  Improve your corporate image
  Reduce/eliminate customer complaints
  Transform the business to get ahead

Outsourcing models

Outsourcing can take many forms – it’s about far more than simply cutting headcount. At a tactical level, it can help you solve specific short and long-term problems. At a strategic level, outsourcing allows you to refocus on business growth and development. And as a transformational tool, outsourcing makes it possible for you to completely redefine your business model so you can be ready for whatever the future brings.

Working with Evolve IS, you can adopt the approach that works best for you now, and adapt gradually as your requirements change.

Tactical outsourcing to solve specific problems

Possible reasons to outsource:

 Your firm is already in trouble
 There is no money for capital investments
 Managerial skills are inadequate
 Technical knowledge is lacking
 You’re concerned about compliance
 You want to cut headcount
 You are struggling to manage operations following a corporate restructure

Strategic outsourcing for a focus on business growth and development

Possible reasons to outsource:

 To build on the success of tactical outsourcing
 To gain control of functions under their control
 To free up time and resource to spend on core business activities
 To move from a buyer/supplier relationship with the outsourcing provider to a partnership relationship
 To focus on the future of the business rather than on day-to-day resourcing and staffing
 To support a planned corporate restructure

Transformational outsourcing for a long-term future

Reasons to outsource:

 To build on the success of strategic outsourcing
 To know plans are underpinned by a stable long-term relationship with a trusted outsourcing provider
 To deliver continuous innovation and improvement
 To develop a strong, scaleable infrastructure as a platform for growth
 To implement new strategies and deliver organisational change
 To build the ability to anticipate market changes and respond effectively
 To share risks and rewards

Evolve IS as an outsourcing provider

Choosing to outsource is a big decision. With Evolve IS, you can be confident your licence and reputation will be safe. We build compliance and regulatory must-haves into our internal workflow processes, and our high level of knowledge and experience is backed up by robust and efficient internal systems. Contractual accountability for agreed service levels and benefits realisation completes the picture.

The Evolve IS engagement process

For immediate tactical engagements, we can step in rapidly as needed.

For other types of engagement, there’s a staged approach. We can provide financial modelling to quantify the business case for outsourcing as well as support you with change management. We understand both the importance and the challenge of achieving buy-in from multiple individual IPs within a firm.

Once the business case is proven, we follow a standard process that includes:

 Agreeing scope and service levels
 Developing an implementation plan
 Finalising the contract
 Executing the implementation plan
 Managing and monitoring the service
 Re-assessing contract and service levels, pricing and realisation of benefits at agreed time points

Interested? If you’ve got an open mind about how your business might develop and you’d like to start a conversation (or you simply need help now!), call us on 0121 333 1295 or…

Contact us here
PO Box 8467
DE11 1HE
Tel: +44 (0) 121 333 1295
Email: hello@evolveis.uk
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