Crowdsourcing refers to the procedure by which the work is done or funded online by a group of people. Thus the intention is to acquire the work and then outsource it to a crowd of people or workers. Before crowdsourcing came into practice, the same process was done with the help of an Outsourcing company, which is an attempt put in use by numerous organizations to decrease the overheads cost by assigning few sections of the work to external providers. In the present scenario, most companies want to reach the horizon and they keep looking out for ways and means in order to get their work done without actually recruiting a new employee. This came in existence Back office Outsourcing, which is a cost-effective method that includes services like accounting, payroll, data management etc. which is actually given to a self-governing provider., which is a cost-effective method that includes services like accounting, payroll, data management etc. which is actually given to a self-governing provider.
If the company which manufactures its products and services is not equipped enough, then it has to resort to means which are favorable to the company and at the same time do not incur heavy expenditure but yield good returns. This is ideally undertaken by outsourcing companies where the company is unable to manage the processes in-house, one of the major examples being the Call centers.
The concept of offshore Business Outsourcing is the practice of hiring an external organization to perform some business functions also referred as outsourcing, in a country other than the one where the products or services are actually developed or manufactured. It is operated from one or two locations whereas crowdsourcing gives an access to a proficient person, who has the knowledge of many languages worldwide and has the flexibility to work from home. People work for clients in return of which they get paid, which turns out to be less expensive and more productive.
Back office services are very expensive if done in-house in the company, so it is much wiser to outsource it so that the company can devote time, effort, and capital to the other more needed tasks. In order to lessen the burden, companies of varying sizes outsource their back office operation to a competent offshore back office services provider.
Crowdsourcing is a process of exploiting the talent puddle worldwide by a company to accomplish the job needs and then transmit it to a cluster of users who provide cyber services. Seven ways in which crowdsourcing can help a business to grow as enumerated as under:
Crowdsourcing of New Partners
Crowdsourcing helps in finding new partners for the company by connecting through social media sites like Twitter, Facebook, and LinkedIn. Efforts can be made to look for a person who is on the same platform as you and ready to offer help. This can be done directly or through contacts from social sites.
Crowdsourcing of Talent
Crowdsourcing is the best way to look out for new talent and in turn to train them since it is a win-win situation for both the trainer and the trainee to gauge the capability and helping each other grow.
Crowdsourcing of Data
Crowdsourcing also helps with data. Open source programming and knowledge sharing platforms crowdsource data extensively.
Crowdsourcing of Policy
Crowdsourcing is a good way to reform or change policies. Numerous companies and even the government believes that it is more useful to get the direct feedback from the beneficiaries as it has more impact and leads to better policy decisions. This provides increased and autonomous responsibility and in turns boosts the company�s growth as a whole.
Marketing by Crowdsourcing
Trendy companies boost their productivity and growth by crowdsourcing the information from the users on what they are expecting from the product, after which they take the decision. Thus giving importance to customers� needs and getting good profits in return.
Crowdsourcing of Ideas
The ideas and even the information can be outsourced by either a formal process or targeting online communities. This is by far the easiest way to get information. Implanting these ideas by the company will yield in higher productivity and growth in return.
Insight Crowdsourcing
The best possible manner to get an insight into customers� needs and expectations is to listen to the crowd and figure out the areas they are concerned about. This way, you can figure out what exactly needs to change and make those changes more efficiently.
Crowdsourcing of new business
Big companies keep �approachable inventions� which helps them bring out the best. As the businessmen grow at a fast pace, they keep deadlines for novel ideas to emerge from their external counterparts.
Determined and striving businessmen are making effective usage of crowdsourcing by exploiting new ideas outside the company. It is definitely helping the companies to grow as it has become the need of the hour to stay in competition with the rival companies.
