Outsourcing or Up-Sourcing?
12 advantages of outsourcing you need to know for your projects.
One of the numerous outcomes of COVID-19 has been the need for businesses to reduce overheads and offer flexible working arrangements.
So as the world moves to flexibility, why shouldn’t the property industry? And one of the best and most financially beneficial ways to do this is through outsourcing.
Outsourcing utilises specialists in their field to provide a range of services when property developers don’t have the time or resources to deliver their projects to the best of their ability.
We like to think of outsourcing as up-sourcing. Much like upskilling, we are bringing knowledge or the necessary resources to the table to achieve greater results.
THE ADVANTAGES
Outsourcing your Development Management brings many added benefits:
FLEXIBILITY – Maintain financial flexibility, switching resources on and off as needed.
EXPERIENCE – Access to experience and knowledge that may be otherwise expensive on a permanent basis.
DEVELOP STAFF – Shared workload develops in-house staff and uses them more efficiently.
FOCUS – Extra time can then be spent on the more value-added objectives of your project or business.
EFFICIENCY – Creates the ability to focus on core activities. By outsourcing non-core activities, it improves efficiency and productivity.
FASTER TURNAROUNDS – More resources can lead to faster turnaround times and therefore increased competitiveness.
CUSTOMER SERVICE – More attention to detail, faster turnarounds and higher quality service, improving sales, customer satisfaction and loyalty.
RISK MANAGEMENT – Reduce the risk with in-house staff that may not be as competent in a particular area.
DIVERSITY OF THOUGHT – Create a ‘multiplier effect’. Different thinking creates more unique, innovative and considered solutions.
LESS OVERHEADS – Costs are reduced by using resources on an as needed basis only. You only pay for what you use.
NO EXTRA STAFFING COSTS – Savings on extra costs such as superannuation, holiday pay, sick leave, payroll tax and redundancies.
LESS FIXED COSTS – Reduced operational overheads in terms of office space and equipment.
OUTSOURCING IN PROPERTY DEVELOPMENT
There are numerous roles that can be outsourced in property development, in management or on a support basis.
Areas can include (but not limited to):
· Acquisitions & disposals
· Due diligence
· Development strategies
· Consultants and design management
· Feasibility & cash flow forecasting
· DA approvals
· Community engagement
· Sales and marketing campaigns
· Construction and project management
· Plan sealing
· Handover & settlements
So, just as working from home is becoming more and more the norm, outsourcing as a core business model is becoming the new normal for the property industry.
Why? You gain a COMPETITIVE EDGE & MORE PROFIT through increased productivity, quality, project and business value, and much more!
It seems like a no-brainer to us.
Talk to us today on how Bluebird can help you to increase productivity and decrease your costs:
Riye Arai-Coupe
Claire O’Rourke
claire@bluebirdproperty.com.au