General Offshore Outsourcing
SLK Global and Outsourcing Companies
SLK Global Services
FAQ – Frequently Asked Questions
General Offshore Outsourcing
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What is Outsourcing?
If you are bringing in a partner to help you carry out (typically non-mission critical) work for you, then it can be termed outsourcing.
Why should I outsource work?
Many reasons: you are looking to convert your fixed costs to variable costs specially where there are large fluctuations in volume; you want to focus on your core competencies (like sales) and not worry about back-office work; it could be work that is labor intensive, but not critical (e.g. entering loan information into system for archiving); work that requires quicker turnaround time (use the time difference advantage), and so on.
What does SLK Global guarantee if I outsource to them?
1 Up to 40% cost savings
2 Quality improvement from 20% to 40%
3 Zero to low upfront customer investment
What kind of work can I outsource?
We advise that you outsource work that may be performed at a high-cost (labor intensive), but has low productivity (may not be automated), and is not mission-critical (does not affect your customers directly). However, in general anything that can be performed ‘remotely’ can be outsourced easily.
What is offshoring (versus outsourcing)?
The distinction between offshoring and outsourcing is disappearing. In the past, offshoring meant all work was performed form outside the U.S. But now, any outsourcing is typically a blend of presence at your location, presence within the U.S. and presence outside the country. The best combination depends on the type of work being performed, the cost savings to be realized, and the environment.
Is my organization too small to consider outsourcing?
The size of the organization is not directly relevant. What is relevant is whether the outsourcing vendor has the flexibility and cost structure to make the outsourcing a win-win for both you and the vendor. For instance, a partner like SLK Global may let you start at no cost, with no formal commitment to volumes or size of workforce upfront. Once you have ‘tested the waters’ and both parties feel the relationship is economically beneficial, the engagement size can be ramped up.
Can I really convert my fixed costs to variable costs?
The answer is dependent on the type of service you sign up for. Most outsourcing vendors want to start with a minimum number of FTEs (Full-Time Equivalent employee count). A minority of vendors (less than 30% according to one survey) offer transaction (or per-widget) pricing from the beginning (SLK Global happens to be one of them). In case of FTE-based outsourcing, your costs do not vary according to the volume or amount of work; hence you still pay for a fixed cost even when the staff utilization is low if volumes are low.
In this environment, does outsourcing/ offshoring make sense?
Outsourcing should and does make sense from a business standpoint. It may be politically sensitive and may seem to affect local employment. However, many studies have shown and also from a common sense standpoint, outsourcing and specially offshoring can be managed and does benefit employment. Offshoring focuses on the lower-end, non-value activities which you may not find local labor to do at a competitive rate, and it also increases the organization’s competitiveness, efficiency and lets the employees focus on higher-skilled, more rewarding work, and increases overall business growth and employment. SLK Global specifically focuses on back-office work with no customer interaction, although it is happy to and does interact with customers for its clients.
SLK Global and Outsourcing Companies
Why should I choose SLK Global over other outsourcers?
SLK Global guarantees up to 40% cost savings and 20% to 40% quality improvement. SLK Global has demonstrated this with a Top 20 U.S. Bank, which has been a partner and customer for over 5 years. SLK Global also offers transaction-based pricing of services (per widget pricing) from the beginning, unlike most offshore service providers. All this means that SLK Global has world-class infrastructure (audited by third party and Bank auditors), and also provides value in flexible and customized solutions with low upfront cost and commitment.
What are SLK Global’s key competencies?
SLK Global is a leading business services provider with competencies in Banking, Mortgage, Title Insurance, Flood and Tax Services. It has a flexible pricing model, offers customized solutions, minimizes fixed costs and de-risks client’s operations by managing volume peaks and troughs. It offers free capabilities assessment – and no cost to start a pilot. This can lead to 40% cost savings for you, between 20% and 40% quality improvement with zero to very low upfront investment. It can even offer integrated solutions in collaboration with SLK Software Services.
Is SLK Global a stable and dependable organization?
SLK Global completed 10 years in 2010, and is a zero-debt privately held organization with an equity stake held by a US Banking entity. It counts a Top 20 US Bank and 3 out of the Top 4 Title Insurance companies in its client list. It is an ISO 9001:2008 (Quality Management) and ISO 27001:2005 (Information Security Management) certified organization.
Where is SLK Global located?
SLK Global has presence in Cincinnati, Dallas, Houston, Los Angeles, Boston, Hartford (CT), Richmond (VA), Austin, Pittsburgh and Denver in the U.S. and Bangalore, Pune and Kolhapur in India.
Is my information safe with SLK Global?
SLK Global is ISO 9001:2008 (Quality Management) and ISO 27001: 2005 (Information Security Management Systems) certified and follows a comprehensive information security governance program. SLK Global manages People (e.g. training and checks), Processes (e.g. audits), Technology (e.g. Intrusion Detection) and the Infrastructure (e.g. Physical access) as a basic service, in addition to any special request you may have. SLK Global’s experience working with Banks has given it the experience to keep your information secure.
I already work with outsource services/ offshore providers. Why should I additionally consider SLK Global?
SLK offers free capabilities assessment, and no cost to start a pilot – with no upfront commitment. So you can test the waters with SLK Global and compare with your existing provider. SLK Global offers lower pricing and/ or quicker turnaround and/ or better quality, even for small commitments, hence you will get a better provider with very low investment.
Will I have to invest money, resources and time to start?
SLK Global is ready to start working with you after signing a simple Non-Disclosure agreement. With their “no cost to start a Pilot” offer, you can start using their services with minimum investment. If you start with simple services, cost savings could start within 2 to 3 weeks.
Is SLK Global’s promise “too good to be true”?
SLK Global has experience in delivering the promises in savings and quality improvements. We will be happy to have you talk to some references about their experiences, including in the specific line of business or service that you are thinking of outsourcing.
What is SLK Global’s overall partnership philosophy?
SLK Global intends to be a true partner in your business service needs. We believe that service relationships real exponential value is only realized with cooperative problem-solving, continuous improvement and deep relationships strengthened over time and constant effort.
SLK Global Offshore Operations Services
How do we start work with SLK Global?
You can start working with SLK Global after signing just a Non-Disclosure Agreement. SLK Global has a simple, step-by-step but comprehensive method to seamlessly integrate with your operations. This ‘Transition’ process can take 2 to 4 weeks, and ends with business-as-usual operations, with part of your team working remotely.
Will someone from SLK Global be present at our location?
The presence of SLK Global at your location depends on your requirements. At the beginning of outsourcing, there may be a need for physical presence at your location, but it is not a necessity. For business-as-usual operations, it is mutually decided based on the need and complexity of operations.
How will SLK Global work on our systems and processes?
Technology now allows authorized individuals working remotely to connect to your systems as if they were in the local office. SLK Global uses high-speed connectivity between its location and yours to make the experience more seamless.SLK Global does not typically need any files, storage media or even to physically copy any of your information to their locations. This helps in data security, and does not disturb your regular processes and operations.
How does SLK Global team communicate with me?
SLK Global has a well-defined operations methodology, which includes regular status reporting for appropriate levels within the operations team via dashboards, reports, email, phone and videoconference. Urgent communication paths are also defined. SLK Global teams work during US business hours.
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