After having a look at Google Trends, it is evident, that the interest in outsourcing has gradually declined over the last decade. However, this happened not because outsourcing as a service has lost its potential value or commercial appeal, but because it had evolved into more complex phenomena since its peak time. Nowadays, companies are seeking more than a simple service provider to handle the administrative tasks or to do bookkeeping, but instead are looking for strategic partnership to relocate whole business processes and functions to the lower-cost environment. This way, these companies are becoming the valued business partners and the strategic alliance, that is created in this junction is about much more than a client buying a service from a supplier.
At this very moment, a co-creation is taking place, where providers are contributing to internal business processes. They are helping companies to reconstruct and refocus business development and improvement according to the changes in the new market.
“At this level, service providers offer not only management of pure operational, day-to-day tasks in a standardized way but also expertise at a more strategic level. In other words, your partner not only delivers your routine regulatory submissions but also challenges your internal activities to increase the quality of the output.”- Susanne Andreae, Head of Regulatory Informatics and Submission Management, EMD Serono
Therefore, as the importance of a service provider steadily evolves and develops, Strategic Partnership is the only approach for systematic and functional outsourcing to succeed. For this reason, Baltic Assist team are confident, that in 2017 partnership will be used far more synonymously alongside outsourcing than ever before.
What is the Strategic Partnership?
The next important step is based on understanding how Strategic Partnership is different compared with traditional business engagements and what makes it successful for both parties. Generally speaking, Strategic Partnership is broader in commitment and is based on mutual investment in resources, systems, and processes, as well as, aligned around overall motivation and expectations.
Nevertheless, the transition to has service providers handle considerably larger parts of business operations and processes rely on the element of trust, transparent communication and performances management between both parties.
What is more, the factors of success are greatly dependent of what is described as to be an outcome of a successful relationship. From our experience, we can separate few different outcome types, that can be used to define a successful business relationship, i.e., satisfaction, expectations and realization of them, and most importantly, a predictable performance of the partner company.
So why do partnerships fail? The reasons are, naturally, related to the factors of success: lack of trust and shared goals, poor communication, up-front planning and relationship management, as well as, unsuitable performance indicators.
Therefore, when both parties have clearly defined expectations. When there is a commitment, constant coordination, mutuality and trust in the place. When information is shared, and problems are solved together, and most importantly, the quality of the work has a high value, and both parties are pleased with the results – then the strategic partnership has the right attributes to be successful.
Why Baltic Assist?
Through our experience working with various companies from Denmark, Norway, UK and many more, we have established a clear foundation of what a successful partnership is all about. Because of that, we have worked towards creating an efficient work environment business processes, that would make us a valuable business partner for every client we have. Therefore, we decided to share with you 7 reasons, why you should consider Baltic Assist to be your strategic outsourcing partner.
We assure instant & open communication with our clients
There is no surprise, that communication plays a fundamental role while creating and maintaining any form of relationship or partnership. Especially, if you are working in a virtual setting, effective communication should be a focal point, due to the fact, that the quality of results goes in line with clearly defined expectations.
Baltic Assist team assures, that every inquiry, e-mail or question coming from our business partners or clients are answering instantly. By doing so, we want to create a feeling that our team is working next door to your business.
We take time to manage relationships & build trust.
As we have mentioned before, the overall agreement is that to be successful, the business relationship and the established partnership has to be based on trust. We believe, that trust, which is created in the process of building and managing relationships, consistently grows through partners reliability, consistency, predictable performance and responsiveness when dealing with certain situations and issues. On the other hand, we know, that the key to a successful partnership that goes beyond a one-time project is all about providing value to the clients on a consistent and ongoing basis.
Your Goals – Our Goals
We continuously work towards our clients’ goals, as if they are ours. We take the time to create a structure of accountability, by taking responsibility and ownership for our client’s goals. By doing so, our team takes pride in knowing they are making an impact on the success of the partner company.
Measure The Performance
We invest time and effort to measure the performance and the results that our team delivers daily.
We drive innovation to improve business processes & efficiency
We believe that to be successful, competitive and relevant in the current marketplace is all about understanding the value of efficiency and productivity. So we put extra effort to improve operational performance and business activities to reduce cost, enhance the quality of our service and sustain the competitive advantage.
We offer our partners to relocate their business operations to cost-efficient environment.
As we have stated in our previous blog post “Why should you hire a talented employee from Lithuania?”, labor cost in Lithuania is 4 times lower than the EU average. So due to low-profit taxes and office rental expenses, we can offer highly experienced professionals and the best specialist for a lower price point than everywhere else in Europe.
Baltic Assist is a trusted partner for small and medium-sized enterprises, that want to relocate their business operations to a lower-cost environment. Contact us to have a free consultation on creating a virtual team for your business.