It’s no surprise the global IT services industry is rapidly expanding. Take Chipotle Mexican Grill as an example, Steve Ells opened a small burrito shop as a low-risk investment looking to provide capital to open a fine-dining restaurant. Ells had no intentions of opening more than one Chipotle, but as demand grew, so did the company. Chipotle is a great example of a company that saw what its customers wanted and capitalized on growth to revolutionize the restaurant industry.
From guacamole recipes to IT security systems, Chipotle was successful because they knew when outsourcing would better their business. Check out our ultimate guide to outsourcing your IT department below.
Who is Outsourcing?
Outsourcing may seem like only a business practice for only large corporations. According to KruscheCompany, companies’ biggest challenges are hiring new employees and employee healthcare costs. Luckily, companies are able to look to other companies who specialize in these areas to outsource these challenges.
Business sectors such as financial services, retail/wholesale distribution, and healthcare have a higher outsourcing frequency. The top reasons these sectors are outsourcing are:
- Cost reduction
- Business transformation
- Improving service quality.
Monitoring your company’s outsourcing is important because tech leaders, like China and the United States, are expected to face an overwhelming IT skills shortage. In 2020, the size of the global IT outsourcing (ITO) market was valued at $556.67 billion, accounting for 77.75% of the overall market. In short, nearly every company is outsourcing to complement rapid growth.
It’s Time to Prioritize Security
Ensuring your company has the best security is confusing, time-consuming, and stressful. IT security had the most significant growth rate and second most outsourced function with 55% in 2022. The severity of internet hackers and spammers is becoming apparent to companies, which is why 83% of IT managers with in-house security teams are considering outsourcing their security efforts.
Spend More Than You Think You Can
We get it, everyone is saying to broaden your budget. But with IT outsourcing with regards to security, it will only grow sales and your reputation by investing in what matters. The percentage of companies’ IT budget going to outside service providers has risen significantly. The current amount is the highest rate in more than 10 years. According to SecurityMagazine, companies already spending more of their budget on IT outsourcing are increasing their expenditure more than those originally spending less.
How We Can Help
As we said earlier, outsourcing is confusing, time-consuming, and stressful. With Prospera IT, our mission is to create a nimble and accessible solution that fits your unique needs, by becoming your virtual IT department. Get started with a trusted technology partner. Learn more here.