First let’s detail the key factors that make outsourcing a powerful tool for your business’s success. What should you look for when outsourcing? What should not ever be neglected?
The chief reason for making the switch from in-house to outsource is of course the undeniable cost-effectiveness. Who doesn’t appreciate the opportunity of paying low costs for high quality work? And the costs are indeed low — at much less than the cost of one full-time in-house employee, you can hire an entire team of experts. And you only pay for the services you have received, so you don't have to carry a heavier payroll than you can afford. This way you have the opportunity to offer your customers a high quality service/product with the best price and ultimately generate a greater profit. Isn’t that what all businesses strive to accomplish?
More freedom to focus the main things you do
It is quite time-consuming and extremely expensive to build an in-house team that has all the experience and skills to satisfy the demand of the constantly evolving market. Thus, outsourcing is the ideal solution which opens a door to high levels of technology and resources which you couldn’t afford by sticking with in-house solutions.
Increased efficiency and quality
If you are fairly new in your particular area of business, you can leverage the experience of others who have been at the game for a longer time. You do what you do the best and outsource the rest.
These are the vital factors you need to consider first when choosing to outsource any project, otherwise you risk to fail. But there is certainly more to learn before outsourcing to a foreign country. So what else is there to know and why outsource to Armenia?
The culture and work ethics of the country
The qualities that define people in their everyday life are same the qualities they bring and invest into work. And human qualities play a key role in the outcome of their work. And since everything is interconnected, with outsourcing your company’s work you trust important (and sometimes confidential) information to the providers, and of course you don’t want it leaked. Here people treat their jobs with high level of responsibility and when needed many people work overtime to ensure that they have successfully completed the assignment, met the deadline…etc
The working enthusiasm and responsibility of people
Within every sphere the organization’s success depends on your employee’s performance. The enthusiasm and diligence of the employee is directly proportional to the quality and the quantity of the work done. Employees with greater enthusiasm tend to achieve greater results than those with more skills but lazy attitude. If you want to enhance the success of your business and constantly keep growing, hire people with the right qualifications and attitude. Building the right team is fundamental to any business, and if you have responsible employees who love their job, you are on your way to success!
Proficiency in English
Communication is a key feature to successful outsourcing. When the communication is poor between the outsourcing company and the service provider, it is detrimental to your business. Most Armenians speak English fluently, especially among the new generation, as English is a mandatory language in schools and higher educational institutions.
Pro-business Environment & Government Support
The enclosed geographic location and lack of many of the natural resources makes Armenia view IT and related spheres as leading means for economic growth and invest its full potential into developing these fields. The government hails and supports the startups in the IT sphere and creates beneficial conditions for their growth.
Armenia ranks highly in relation to key business and investment indicators:
- Armenia has 2 Free Economic Zones with NO profit, VAT, or property taxes
- Armenia offers special incentive schemes for investors, specifically for IT companies and startups, as well as border regions and large exporters
- Armenia allows 100% foreign ownership of local business entities
- Equal opportunities for local and foreign investors
- Armenia has no restrictions on remittances repatriation of profits
- Sustainable banking system in accordance with international standards