Why people and service are a defining parts of working with outsourced providers

Outsourced service partners play a crucial role in today’s business landscape, especially in sectors like finance, including alternative investments in which I have dedicated the last 15 years of my career to.

Working for many clients during my time at RFA, I have come to the firm belief when it comes to outsourcing partnerships, the quality of service is the major differentor of one provider from another.? In order to deliver on service, companies need to prioritise what it means to be human, whilst also demonstrating reliability, professionalism and a commitment to client satisfaction.

Here are key human considerations that I believe to be important when it comes to delivering on service when working with an outsourced partner:

• Assessing expertise and specialisation?

Outsourced partners bring a high level of expertise and specialisation. Throughout my time at RFA, we haveprovided firms within the alternative investments access to specialised IT support which covers a range of services including cybersecurity, data reporting, risk management and compliance support. However it is important to take into account the human consideration of these services. In a study by IBM, it was concluded that 95% of cybersecurity breaches are a result of human error. At RFA, not only do we provide specialised outsourced IT support to our clients, but we also work alongside teams to offer training so that they can confidently operate the IT solutions we provide them. Working in partnership with clients and understanding how their teams work from a human perspective is an intrinsic part of our service at RFA. I believe it makes a significant difference to our quality of service as a partner.

• Moving beyond the transactional

The service aspect of outsourcing extends beyond mere transactional interactions. It encompasses the entire client experience, from initial onboarding to ongoing support and collaboration. Establishing a collaborative relationship is important to us as a business and underpins our operational structure with our clients. I believe that the service-oriented approach we deliver at RFA not only involves delivering a product, but also providing proactive guidance, strategic insights, and responsive assistance. This is especially important for offering IT support, which is myself and the team are available 365/24/7.

• Focus on growth and scalability?

Working as an outsourced partner, I know that our working relationship with our clients can be contract based, so I am invested in offering the best service possible in order to maintain a long-term relationship with our clients. Not only do I want to grow the RFA business, but I want to grow and scale with our clients at the same time.

• Overcoming potential communication barriers

I take real pleasure from working with people who live in different countries. Their businesses and teams can also be structured with an international team. Whilst this can be incredibly advantageous for firms, there can be potential issues with regards to cultural differences and varying work styles. Should this be the source of conflict, this can be heightened by any reliance on an outsourced firm as they will need to work well with a company’s team on a cultural level. I am really proud to be part of an international and multilingual team. Since we operate on a global scale, we can offer our clients access to a diverse talent pool.We understand the cultural nuances of different markets and are able to embrace working with people with different backgrounds. This can be especially advantageous for firms in finance seeking exposure to different regions or investment opportunities.

• Being transparent

From experience, one of the best ways to build trust with people is to be upfront and transparent. This is particularly important when it comes to being a service partner as my communication with clients is centred on offering clear and accurate information regarding their IT processes, operations, procedures and their business outcomes. By being transparent, my clients can make informed decisions which enhances their business development whilst keeping me, as a service partner, accountable.

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People and service are fundamental to the success of our outsourcing partnerships. These two features focus on what it means to be human and are the driving force behind what we do at RFA. This human element is crucial in all outsourcing relationships. Despite advancements in technology, human interaction remains essential for understanding nuanced requirements, communicating effectively, and fostering trust. People and service are two primary considerations any firm should consider when selecting an outsourced partner. Reach out to chat to me.