Impact Sourcing: Doing Well by doing Good
Something we hear about more and more these days—but for years has been transforming business for the better—is Impact Sourcing, an inclusive business practice that happens in the outsourcing industry when organizations intentionally hire and provide career development opportunities to people who otherwise have limited prospects for sustainable employment.
If you’re sitting in your office right now thinking this doesn’t affect you, well, think again. Impact sourcing is not just a corporate social responsibility (CSR) initiative; it has substantial business benefits as it not only presents enormous opportunity for professional advancement of marginalized communities through training and steady, fair-wage employment, it is a business practice that, when done right, maximizes business outcomes.
Read the full blog here.
Are You Resilient?
Most organizations are implementing Organizational Resilience management systems to increase readiness and sustainability of their strategic objectives, that would include practicing activities including examples of (Crisis Management, Information Security, Business Continuity, Disaster Recovery, Risk Management and more.). Organizations practice resilience due the nature of risks they face daily on their operations and running businesses.
Bahamas Deserves Close Consideration for Specialty, High Value BPO and Nearshore Service Delivery
A niche player, The Bahamas offers significant advantages in the right scenarios. Recent hurricane headlines don’t tell the whole story. The Bahamas is a resilient country with first-world infrastructure, a dollar economy, political stability. The Bahamas was, is, and will be open for business.
The Ethics of Artificial Intelligence
Imagine you’ve applied for a job or for a loan and you’re unsuccessful. You’re curious as to why, so you use GDPR legislation to request access to the information the company holds on you. You obtain your data and discover the decision was made using artificial intelligence (AI) algorithms that screened out your application for no obvious reason. Or, imagine this …
TOP 10 SOURCING DESTINATIONS: SUPPLY WISDOM COUNTRY RISK INDEX
Enterprises of all sizes source globally to varying extents. Sourcing from different locations offers immense opportunities for value creation. However, each location also creates or magnifies supply and sourcing chain risks.
A SHORT GUIDE TO DEMYSTIFYING INTELLIGENT AUTOMATION
AI and automation are fast becoming mainstream, but does that mean we will all lose our jobs? Here are 10 of the most common misconceptions about intelligent automation and why they are not true. The longer you wait to automate, the more benefits you stand to lose.
SUPPLY CHANGE MANAGEMENT – WHAT’S DRIVING CHANGE?
Businesses are facing increasing demands in terms of both the agility and technology associated with their supply chains. Many are looking to global service providers for support. Businesses are facing increasing demands in terms of both the agility and technology associated with their supply chains.
THE WIN-WIN OUTSOURCING FORMULA
Outsourcing has always been one of the ultimate options to help their business grow, become better, and competitive against the global market. This is not only because of the real interpretation and meaning of “give it to the experts” being sure they will do things right. Rather, it’s the value that outsourcing firms can add to their partners and more of “doing the right things!”
IMPACT SOURCING: THE SMART WAY TO DO BUSINESS
Long gone are the days of organizations finding a cause to support… something to throw a few dollars at, pat themselves on the back and go about their day, business as usual until they have to write another check. No more throwing dollar bills at a charity – they simply can’t get away with it anymore.
ENTERPRISE INTERNET OF THINGS: TRENDS SHAPING THE MARKET
Digital Singularity—the point where technological omnipresence and human experience converge, has embedded a realm of global interconnectedness, among people, connected devices, and between people and devices. A key technology prerequisite driving this wave of connectivity and fuelling Industry 4.0 is the Internet of Things (IoT).
THIRD-PARTY OVERSIGHT: IS LOCATION RISK MONITORING ON YOUR RADAR?
Globalization has enabled, and in many cases demanded enterprises, both large and small, to generate value through a globally distributed third-party network. Manufacturing in China, IT from India, outsourcing to the Philippines, and near-shoring with Mexico are results of a willingness to source globally and extract value and realize the benefits and unique advantages that specific locations offer.
INNOVATION: A LEAP OF FAITH OR JUST A LOT OF HARD WORK?
There is hardly a more overused word in business circles and in the tech industry today. Akin to my other favorites – synergy, bleeding edge and disruptive – it is used so often and so loosely that it has become nearly hollow. I no longer hear innovation – I hear inno-vacuous. And I’d venture to guess I’m not the only one who hears it this way.
WHY EASTERN EUROPE IS BECOMING THE WORLD’S NEW OUTSOURCING DESTINATION
Offshore outsourcing is often perceived as being centered in Asia. However, Eastern Europe is fast becoming one of the most popular outsourcing destinations — and for good reason. In this article, we will discuss the perks of working with an Eastern European outsourcing vendor and explore what makes it unique in a crowded marketplace.
WHY CORPORATE SOCIAL RESPONSIBILITY AND IMPACT SOURCING MATTER
When it comes to business, buyers want more from the powers that be; they want core value – consistent action and participation. It’s no longer about the quality of a product. Buyers care about society and global issues, and they are zoning in on the organizations proactively supporting these issues. Going forward, customers plan to do business with organizations that weave social responsibility into their entire business models.
THE NEXT GENERATION OF OUTSOURCING
The biopharma industry has achieved many of these benefits, particularly through the outsourcing of clinical development, manufacturing, and basic IT functions. Though we have only just begun to harness the full value these services can bring to the table. From improving sales to streamlining analytics and regulatory affairs, outsourcing has the potential to significantly increase efficiencies across the development lifecycle, with the greatest potential benefits achieved in downstream commercial functions.
SOURCING MEETS HUMANITY MEETS GOOD BUSINESS
This business process service delivery model provides quality and cost at parity with traditional BPO services but with optimized enhancements. These include a qualified, trained, untapped talent pool with skill sets aligned to match client needs; lower attrition rates and higher corresponding levels of employee engagement; and opportunities to fulfill corporate social responsibility and diversity objectives while operating within a traditional BPO framework.
MORE THAN JUST COST SAVINGS: OUTSOURCING AS PART OF YOUR STRATEGIC VISION
Traditionally, IT outsourcing has been viewed merely as a cost-saving tactic, but nowadays, IT outsourcing has become a more strategic and an effective business strategy that brings added-value to the organisation. Due to latest emerging technology trends, companies are looking for speedier, more efficient and agile delivery of services that enable business transformation. This could have a profound influence on the way IT and business executives see the role of outsourcing in enabling organisations to transform their business into a digital one.
ADVICE WORTH KEEPING – PODCAST SERIES – KPMG MANAGEMENT CONSULTING
Most enterprises that outsource service delivery to a third-party service provider have in place a center of excellence (CoE.) These CoEs typically focus on streamlining processes and governing how the two parties’ complementary skills and resources should work together to drive outsourcing excellence. But when digital labor enters into the contractual agreement between the buyer and the provider, a considerably different shape, form and flavor of governance – what we call a digital labor CoE – is required to effectively address the expanded universe of involved stakeholders and risk and control issues.
A ROADMAP FOR THE OUTSOURCING JOURNEY
Achieving real and productive collaboration with your outsourcing partners requires hard work and a framework for designing and implementing long-term outsourcing relationships based on innovation and the achievement of mutual goals. Extensive research by the University of Tennessee resulted in the development of a new, hybrid outcome-based business model researchers coined as “Vested Outsourcing” or Vested for short. The research led to the book Vested Outsourcing: Five Rules That Will Transform Outsourcing, which outlines the need for a new, modern way to outsource based on trust, collaboration, and working together to achieve mutually beneficial goals.
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