A quick, but important, Let’s Talk this week. Oracle Netsuite General Manager ANZ Jason Toshak and beshore Co-Founder and Technical Director Andrew Cornale on outsourcing overseas for your business.
Let’s Talk…
Andrew Cornale, Co-Founder and Technical Director, beshore™️
For many businesses, outsourcing overseas is often seen as a last resort that’s the result of budget saving decisions. In reality, outsourcing overseas is an opportunity to pursue a pool of talent that is unattainable at an affordable rate within Australia.
So, when is it a good idea to cut costs with international input? When you can’t find an adequate resource locally. ‘Cheaper’ can be found anywhere. Value is well sought after, rare and worth looking internationally for.
Instead of looking at offshoring as a way of saving money, it should be understood as value for money. When given a budget of $20,000, you’ll always spend $20,000, it’s just a matter of what you’ll get for it.
International input gives you access to exceptional resource at an affordable rate, maximising your budget. It’s a careful balance between being mindful of budget and locating the best resource for your project.
Jason Toshack, General Manager ANZ, Oracle NetSuite
It is always great to see businesses growing and considering expansion into other markets. While growth is often cause for celebration, managing subsidiaries across multiple locations can quickly become a challenge if not well managed.
Operating a global business means more than simply navigating different time-zones. Financial management becomes more complex as information and reports, like multiple subsidiary P&Ls, need to be consolidated. There is also dealing with different currencies and regulatory frameworks, and if your overseas subsidiaries hold physical inventory, you also need to expertly manage your supply chain to ensure the continuity of your business.
It is therefore important for business owners to have strong processes in place to manage these added complexities efficiently. Success will require that your operation is supported by a business management system that is scalable and can seamlessly integrate cross border requirements.
More LET’S TALK articles you should read:
Let’s Talk: How can you drive motivation and teamwork among staff?
Let’s Talk: When is the right time for your business to grow? Balancing risk & opportunity
Let’s Talk: Automation – To be or not to be for your business?
Let’s Talk: The office vs. working from home?
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