• Thursday, May 23, 2024
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Expert sees outsourcing as alternative to grow SMEs post covid-19

SMEs

The adoption of outsourcing as a strategic business plan would help optimize profitability for owners of small and medium scale enterprises in the new normal. Olufemi Ogunlowo, group managing director Strategic Outsourcing Limited (SOL), has said.

Ogunlowo observed that by entering into a human resource process outsourcing agreement with a professional service firm, owners of SMEs can easily liberate their business from the burden and exposure to the risk associated with statutory and regulatory compliance demands while retaining the benefits of keeping their workforce intact.

Ogunlowo while speaking at SOL Business Series 1.0 hosted virtually, offered constructive and strategic insights on processes business executives can adopt in their operations to reduce overheads.

Ogunlowo in the 90-minutes session with the theme ‘reducing cost and optimising business output in the new normal’ noted that human resources process outsourcing was an efficient way business owners can adopt to keep the same workforce and maintain the same wage bill while eliminating unproductive cost factors embedded in the HR process.

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He further noted that outsourcing was a smart strategy for a business, adding that it enhances the effectiveness of operations by collaborating with professional service firms to retain value and at the same time shed the risk and burden that comes from bearing all your processes internally.

“As a reputable business process outsourcing firm with over a decade long experience in offering personnel outsourcing and Payroll Administration services to small and medium businesses as well as large corporations, SOL is specifically suited to relieve you of the burden and risks associated with HR, Payroll Administration and Personnel related business functions”, Ogunlowo said.

Busola Oyebadejo, one of the participants lauded the company for the decision to put together the training as a means of empowering SMEs owner with skills to navigate the business terrain post-Covid-19.

Oyebadejo observes that the session had excellent attendance and offered participants the opportunity to contribute intellectually, adding that topical issues such as payroll administration, Accounting, Sales and Marketing and Office Space Considerations were elaborately discussed.

For her, “outsourcing certain aspects of your business processes may entail that you would need less physical office space, which in turn further saves you cost” Oyebadejo said.