{"id":7438,"date":"2021-10-20T01:05:33","date_gmt":"2021-10-20T01:05:33","guid":{"rendered":"https:\/\/www.boardroomlimited.com\/my\/?p=7438"},"modified":"2023-10-19T10:15:49","modified_gmt":"2023-10-19T02:15:49","slug":"benefits-of-outsourcing","status":"publish","type":"post","link":"https:\/\/www.boardroomlimited.com\/my\/2021\/10\/20\/benefits-of-outsourcing\/","title":{"rendered":"The Benefits of Outsourcing for \u2018The Next Normal\u2019"},"content":{"rendered":"

[vc_row full_width=”stretch_row” css_animation=”fadeInLeft” el_class=”business-insights-content”][vc_column][vc_row_inner el_class=”m-t-50″][vc_column_inner][vc_custom_heading text=”The Benefits of Outsourcing for \u2018The Next Normal\u2019” use_theme_fonts=”yes” el_class=”m-b-30″][vc_column_text]In recent times, the Malaysian economy rebounded<\/a> from unprecedented challenges, hitting its lowest point in two decades during the second quarter of 2020. <\/span><\/p>\n

The arrival of the COVID-19 pandemic shook the global economic landscape, leaving businesses grappling with unforeseen disruptions and uncertainties. As nations initiated lockdowns, travel restrictions, and safety measures, the business world was forced into uncharted territory. In Malaysia, as elsewhere, the pandemic’s impact rippled through industries, challenging established norms and demanding innovative solutions.<\/p>\n

While the road ahead remains uncertain, there’s a growing need for businesses to adapt to what we now refer to as \u201cthe next normal.\u201d This transition is not merely about weathering the storm but about seizing opportunities amidst the chaos. It’s about businesses becoming agile, resilient, and forward-thinking to thrive in an ever-evolving environment.<\/p>\n

Forward-thinking SMEs have been quick to embrace digital transformation as a lifeline during these trying times. Not only has this helped ensure business continuity, but it has also opened the door to a world of advantages offered by outsourcing services.<\/p>\n

Let\u2019s delve deeper into how the dynamic duo of digital transformation and business outsourcing services drive economic recovery in the post-COVID era.[\/vc_column_text][\/vc_column_inner][\/vc_row_inner][vc_row_inner el_class=”m-t-50″][vc_column_inner][vc_custom_heading text=”Pandemic resilience through digital transformation and outsourcing” font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” el_class=”m-b-30″][vc_column_text css=”.vc_custom_1697681549984{margin-left: 0px !important;}”]The COVID-19 pandemic has been a game-changer for digital transformation in Malaysia. A small business survey<\/a> by global professional accounting organisation CPA Australia found that 40% of surveyed small businesses in Malaysia increased their focus to online sales in 2020. Of those small businesses that invested in technology in 2020, 42.4% of them said it made their business more profitable.<\/span><\/p>\n

For global companies, the digital transformation has happened in the space of just months during the pandemic. According to Twilio CEO, Jeff Lawson, some large multinational corporations have fast-tracked their digital transformation by an average of six years.<\/span>[\/vc_column_text][vc_single_image image=”7455″ img_size=”large” alignment=”center” css=”.vc_custom_1634547949551{margin-top: 20px !important;margin-bottom: 20px !important;}”][vc_column_text css=”.vc_custom_1697681571185{margin-left: 0px !important;}”]The increased speed of digital transformation has meant that more companies have been able to appreciate the benefits of outsourcing. This has been particularly important for maintaining business continuity during the pandemic.<\/span><\/p>\n

\u00a0<\/span>For example, pre-COVID, some companies had payroll systems requiring on-site staff to process payroll. However, when the Movement Control Order (MCO) was in place, payroll staff couldn\u2019t get to their offices to perform their duties. The solution for many of these companies was to outsource payroll<\/a> to an expert service provider that uses a cloud-based HRMS solution to process employees salary payment offsite, even in the middle of a pandemic. One of the added benefits of outsourcing payroll<\/a> is that businesses can remain compliant with rapidly changing payroll regulations in Malaysia.<\/span><\/p>\n

While the pandemic has fast-tracked digital transformation, it will remain an important driver of business growth for the foreseeable future. SMEs may find it difficult to keep up with the rapid pace of technological change, but this is where outsourcing can be truly valuable. By outsourcing their non-core business functions to a specialist outsourcing company, SMEs can:<\/span><\/p>\n