When done well, outsourcing delivers both direct financial and broader business benefits.
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.
How many jobs are ‘burials’, with no post appointment time billed? Outsourcing reduces WIP write-offs, making your business more profitable.
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.
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.
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 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.
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.
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