IBS 2025 Best Participating Exhibitors

As the countdown to the International Builders’ Show IBS 2025 begins, excitement is building across the construction and preconstruction industries. This premier event, held from February 25-27, 2025, at the Las Vegas Convention Center, promises to be a game-changer for professionals seeking innovative solutions. Among the standout exhibitors this year, Optimar Consulting and Optimar Precon are proud to showcase their cutting-edge services and expertise, making them a must-visit booth: W4378 at IBS 2025. If you’re looking for reasons to attend IBS 2025, here are a few: unparalleled networking opportunities, the chance to build meaningful connections, discover groundbreaking innovations, and gain valuable industry insights.

Why Visit Optimar Consulting at IBS 2025?

Optimar Consulting brings a wealth of experience and innovative solutions to IBS 2025, positioning itself as a leader in providing remote team setups and consulting services. Catering to industries such as construction, healthcare, fintech, and data analytics, Optimar Consulting delivers tailored solutions that help businesses achieve operational efficiency and scalability.

Services Highlighted:

Remote team setups for preconstruction, including BIM, CAD, and Estimation professionals.

Strategic solutions for healthcare operations, fintech innovations, and data-driven decision-making.

To help with your budgeting and resource management we offer construction estimation expertise.

Our team is here to help you understand how our services can help meet your needs and grow your business.

Spotlight on Optimar Precon

A division of Optimar Consulting, Optimar Precon specializes in preconstruction services that streamline construction planning and execution. With over 22 years of industry expertise, Optimar Precon has successfully delivered hundreds of projects, particularly in the U.S. construction sector.

Services Offered:

BIM Services: Advanced Building Information Modeling solutions to enhance collaboration and reduce errors.

CAD Drafting: Precise and compliant designs tailored to your project needs.

Estimation Services: Detailed takeoffs and cost estimations to optimize resource planning.

Construction Documentation: Comprehensive documentation services, including RFI management, submittals, and closeout reports.

Optimar Precon stands out for its commitment to precision, transparency, and innovation, ensuring that every project meets the highest standards.

What to Expect at Our Booth?

Visitors to the Optimar Consulting and Optimar Precon booth can:

1. Find out about our BIM and CAD tools by looking at live demonstrations of them. 
2. Find out  how our experts believe our clients have benefited from our assistance to address their industry challenges.
3. Learn how to  improve your operations and cut costs with actionable strategies. 

IBS 2025 is the perfect opportunity to  connect with us. Optimar Consulting and Optimar Precon provide unparalleled value for construction professionals, project  managers and business leaders to aid them in reaching their objectives.

Plan Your Visit For IBS 2025

The ideal chance to learn about the newest developments and network with business executives is the International Builders’ Show 2025. From February 25–27, 2025, be sure that you stop by Booth No. W4378 at the Las Vegas Convention Center. Visit our website, Optimar Consulting, and follow us on LinkedIn for updates and other details.

We look forward to seeing you there.

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Top 5 Reasons to Attend IBS 2025

Are you ready to keep ahead of the competition and have a strong interest for the construction industry? Next, put the International Builders’ Show IBS 2025 on your calendars. Every year, the National Association of Home Builders (NAHB) hosts this gathering, which brings together professionals

from the field to network and exchange ideas, leadership perspectives, and innovations. IBS is a fantastic way to find out what other people are doing and about current developments and trends in your field.

Join us at the Las Vegas Convention Center (LVCC) from February 25-27, 2025, and discover why this is the must-attend event for construction professionals. We are excited to share that Optimar Consultancy will be participating in this event, bringing valuable expertise in remote staffing solutions and construction services.

Keep reading to see why seizing this opportunity could be a game changer for your career and business.

Overview of IBS 2025

The International Builders’ Show (IBS) is the main event for building and construction professionals. The most innovative concepts, cutting-edge equipment, and groundbreaking goods come together in one place at the NAHB-hosted IBS. This year, IBS Las Vegas sets the stage for revolutionary innovations and unmatched opportunities, featuring over 1,700 exhibitors from around the globe. The event’s program is perfectly complemented by the city’s vibrant vitality, which offers a hub for inspiration, learning, and collaboration. Discover why Optimar Consulting is among the best-participating exhibitors at IBS 2025 and how we’re contributing to this transformative event.

Why Construction Professionals Should Attend IBS 2025

1. Explore New Developments

IBS 2025 is a major showcase event for individuals in the construction industry. Many industry

Experts will attend this event to showcase their products and ideas, such as advanced technology, new materials, and innovative concepts. You’ll be surrounded by dedication and passion within the same industry, which can greatly benefit your business. This event offers you the opportunity to explore new insights and technologies, learn from others in your field, and discover what might be missing in your business to help it reach new heights.

2. Networking Opportunities

This event is a great way to network with like minded people and industry experts who are very committed to their neeche and have had great success with their enterprises. IBS 2025 gives you the opportunity to make important contacts that could help you advance professionally, boost your company, find new prospects in your industry, and help you overcome obstacles.

Great networking opportunities are on offer by NAHB, along with insightful workshops aimed at educating you on what your company needs. Connecting with professionals in the field, exchanging ideas, and gaining knowledge that might help you grow your company will be possible.

3. Learn from Industry Experts

IBS 2025 offers valuable insights with a dynamics lineup of experts and speakers from the industry sharing their experiences and business strategies. It’s a great opportunity to learn about the latest trends in the construction industries that you can adopt to get ahead. By the end of the event, you’ll have gained important knowledge about your field and a clear, refreshed vision.

Industry leaders like Optimar Consulting will also be joining this event. Their expertise in remote staffing solutions and construction services like BIM, CAD and documentation can greatly help your business grow. The speeches from industry experts will inspire you to think from different angles and reveal new possibilities. If you’re in the construction industry, this event is a must-attend.

4. Enhance Business Growth

IBS 2025 is not just about learning; it’s a global opportunity for businesses to market themselves, innovate, and grow. It invites all industry experts and businesses that are looking to expand and network. With a strong focus on showcasing your brand, people are eager to connect with like-minded individuals who can offer ideas and possibilities for their business.

If you have a business or can provide solutions to others’ problems, IBS2025 is a must-attend event for you. You can pitch your solutions, make good deals, and the network you build will help you every step of the way in your future business endeavors.

5. Discover Las Vegas- The Perfect Backdrop

In addition to being the location of IBS 2025, Las Vegas also serves as a fantastic travel destination. With its famous landmarks, top-notch dining options, and entertainment, Las Vegas provides a distinctive fusion of leisure and business.

While immersing yourself in the latest industry knowledge, take advantage of the vibrant atmosphere to recharge.

Visit Optimar Consulting at IBS 2025

Optimar Consulting is a premier provider of remote team solutions, specializing in empowering businesses in the US and UK construction sectors. With a focus on delivering exceptional preconstruction services, we excel in BIM modeling, CAD drafting, estimation, and construction documentation. Our tailored approach helps clients streamline operations, enhance collaboration, and achieve cost efficiency by leveraging highly skilled professionals based in India. At Optimar Consulting, we are committed to delivering precision, transparency, and innovation, ensuring our clients stay ahead in a competitive market. Visit us at IBS2025 on our booth: W4378 to explore how we can transform your business with our expertise.Lets connect and discover the endless possibilities together.

Conclusion

For construction professionals looking to network with other construction businesses, IBS 2025 is an event they just must attend. This event features everything from networking with industry experts to learning about new developments and business prospects.

Make the most of your visit by connecting with Optimar Consulting. Don’t miss out the opportunity to elevate your career and business. See you at IBS in Las Vegas at LVCC.

Frequently Asked Questions(FAQ):

Q1: Where is IBS 2025 happening?
Ans: IBS 2025 will be held in Las Vegas, At LVCC, you can apply for your free passes right now.

Q2: Why should I attend IBS 2025?
Ans: If you belong to the construction industry, IBS2025 is a must-visit event for you. By the end of the event,

you’ll leave with valuable insights, possibilities, strategies for your business, and an understanding of the ongoing trends in the market.

Q3: What is NAHB’s role in IBS 2025?
Ans: NAHB hosts IBS annually to provide professionals a platform for innovation, education, and collaboration.

Q4: How can I connect with Optimar Consulting at IBS2025?
Ans: Visit our booth:W4378 at IBS to learn more about our services and how they might benefit your business or you can just connect us through

online to book a meet in advance.

The post Top 5 Reasons to Attend IBS 2025 appeared first on Optimar Consulting.

India is already the hub for technology outsourcing. Indian IT talent has evolved from being only a back-end processing center to establishing highly skilled R&D center thanks to skills and scale acquired over the past two decades. As firms throughout the world adopt remote working, non-IT skills like accounting, finance, US taxation, HR operations, and data analytics are equally in demand from an offshore hiring perspective.

There is a genuine talent shortage around the world, and no nation, industry, or organization is immune from its effects. The global construction industry is up against a formidable task when it comes to attracting and retaining talent. While large MNCs in the building and infrastructure sectors have been doing well by utilising the skilled work force in India, general and specialty subcontractors can also gain from hiring skilled people in India.

DPR Construction, a USA based technical builder has a team of 400+ construction engineering and technology experts in Pune, India. The operation started in the year 2013 & it provides services to its parent company in the US in the areas of virtual design and construction (VDC), project controls management, accounting and software development.

Houston, Texas based Hanover Company, is a real estate firm specializing in the development and management of multi-family residential properties across United States. They have set up a global support & operation center in Ahmedabad, Pune. Hanover’s staff in the United States is supported by their operations center in India, which plays a crucial role in increasing the efficiency & effectiveness of Hanover’s platforms for development, building, and property management.

Over the years Global Capability Centers (GCCs) have transformed from just being a low-cost back end processing center to a technological innovation centre built on talent. As a company establishing a GCC takes time and manpower to evaluate the talent pool, available infrastructure, & the regulatory environment. Optimar has extensive experience of working with American general & sub-contractors to help them set up their offshore remote teams in India.

Offshoring, while mostly used to optimize costs, can enable sustainable growth, enhance capacity, flexibility, and—most importantly—help organizations in filling critical talent gaps. Optimar can assist you in building and scaling your global team in India.

The post Leveraging Global Talent: Why Offshore Hiring is the Key to Building a Competitive & Skilled Workforce appeared first on Optimar Consulting.

Mortgage Loan Application Volumes at 22 Years Low 

The US mortgage industry is currently witnessing its lowest demand levels since 2000, driven by the US Fed’s actions to increase interest rates to combat inflation.

According to the Mortgage Bankers Association, it’s seasonally adjusted market composite index fell from 645.4 a year ago to 288.4, a drop of almost 55% in a year.

The refinance market, which is highly rate sensitive, saw a much bigger impact with demand dropping by 80% compared to the same period last year.

With inflation still continuing to be a source of concern and market expectations of the Fed not changing its bearish approach to interest rates, the pressure on margins will continue to be a key challenge for the industry.

Market dynamics leads to bloodbath in the Mortgage Job Market

As both demand and margins are currently under considerable pressure, mortgage companies are looking to rationalize cost to ensure survival.  The recent news of Sprout Mortgage and First Guarantee Business shutting down their businesses is a tip of the iceberg, with recent estimates indicating that more than 4000 people have lost their jobs.  This trend started with the infamous Zoom based layoff by Better.com, but the last few months have seen behemoths like J.P.Morgan, Wells Fargo, Dr. Cooper, Tomo etc laying off a large percentage of their workforce. 

The role that a Virtual Captive Centre can play during these tumultuous times 

A virtual captive center is a plug and play solution, that helps a company have a dedicated team up and running in a very short period of time.  This solution reduces the administrative and compliance work dramatically.  As against an outsourcing model, a virtual captive model gives the customer full control on the team’s work/ performance. 

We have seen a number of mortgage and real estate companies set up virtual captive centers in India, allowing them to reduce their costs by over 70% in a short period of time.  In addition to helping drive significant cost savings, customer’s who have built high performing teams have also seen an increase in productivity.  This allows a customer to still have continuity of business while dramatically reducing costs and also not having to re-train the team once demand starts coming back. 

How can Optimar help you to leverage the talent pool in India? 

Optimar Consulting is a leader in assisting international companies in establishing a world-class virtual team in India. Our ‘customizable’ and ‘pay by month’ subscription model has assisted over 45 companies in establishing a fully operational global team in India.  

We are experts in managing all aspects of virtual employee management, from recruitment to physical infrastructure support and HR operations, with over 30 years of experience and a client base spanning continents and time zones. Last year, Optimar helped its clients hire over 1,000 candidates, resulting in significant cost savings. 

Now its your time to get started!

Talk to our Business Consultants with decades of experience to guide you on how to setup a Virtual Captive Center in India.

Get a Free Quote –  Contact Us

The post How setting up a virtual offshore center can help transform your mortgage business? appeared first on Optimar Consulting.

Attracting top talent is a perennial issue for companies. This is especially true for small businesses as they compete for talent with their more established competitors. Finding a perfect candidate is another challenge that small businesses have to face. According to the latest survey data from SCORE, 63.4% of business owners face challenges in recruiting the right talent. They spend the majority of time across various stages of hiring but end up with disappointing results. However, this issue can be solved by applying proven techniques to find talent.

Need to Attract the Top Talent

In today’s competitive market space, it is important to strive hard to sustain and grow. Hence, SMB businesses need to hire the best talent from the industry who can contribute to their business growth. It has been discovered that small businesses offer significant opportunities to their employees, right from accelerated career growth to access to a wide network of clients. Still, they have to struggle to find the right candidate.

7 Ways to Find and Retain Top Talent

• According to research, 84% of SMBs strive hard to find and hire a potential candidate. While larger organizations rely on their name to hire talent, SMBs need to up their game by standing out from the already established businesses. Here are 7 ways that can significantly help small and mid-sized businesses.

  1. Offer Competitive Compensation

   Offering a competitive salary package is the key to any successful business because it has a team of loyal people. Companies that offer good compensation attract top talent. When people are paid well, they are more likely to stick to the company for a longer period. They feel invested in the firm and hence, they put in their best work. SMBs need to grow faster and hence, they need experts who can contribute to brand success.

  2. Highlight Employee-Centric Culture

  It is crucial for SMBs to adopt a culture where people are at the core of everything. A culture that inspires innovation and empowerment attracts people and makes them stay longer. In an employee-centric company, all employees are encouraged to connect with customers, peers, and leadership regardless of their level. A report by Deloitte shows that 83% of leaders think that passionate workers who are engaged can add more value to the business. Foster an environment that emphasizes collaboration, communication, and respect for others at all levels. Respectful treatment serves as the most important driver of satisfaction in the workplace.

  3. Accelerated Growth Opportunity

  It has been observed that 73% of SMBs face the challenge of competing with well-known brands. Small businesses are less complicated and new employees who are hungry for growth are easily attracted to such companies. Another advantage is that it offers more freedom to handle a variety of projects. It brings along more flexibility to learn and grow because of the proximity to the leadership team. For top performers, a small company serves as the perfect playground for fast growth.

  4. Tweak the Role to Utilize Full Potential

  It is easy for a small company to differentiate itself by enabling people to decide their roles. There will be primary responsibilities that the organization will determine at the time of hiring. According to a study, 75% of SMB owners were unsure about the role, even after the interview. However, individuals get excited when their other skills are also utilized. To increase employee engagement and productivity, you need to allow the candidates to tweak their roles, which may bring unexpected outcomes by using their talent.

  5. Encourage Innovative Approach

  SMBs can easily foster innovations in a way that big organizations find hard to duplicate. Encourage innovative thinking and welcome new ideas that help new talent feel more satisfied in terms of their role. Most employees like to work in a vibrant workplace where ideas are exchanged because it makes them feel engaged. It is always good to encourage open access to senior leadership as it enhances their ability to shape strategy. This will lead to good word-of-mouth publicity that help you attract the best talent.

  6. Flexibility in Hiring Talent

  There may be few hard-to-fill positions in SMBs. It becomes important to offer flexibility to attract the top talent. Obviously, you may have bonuses, vacation time, or other benefits but flexibility is important in the post-Covid era. A global survey revealed that 54% of employees look for flexibility. In a competitive market, your organization must know the pulse of what professionals want. By offering them flexibility, you help them get what they are seeking.

  7. Leveraging the Social Media

  Social media is a powerful tool, which candidates use to research prospective employers. It is equally useful to place your requirement. Once you decide to post about a job opening, make sure to highlight your USPs and what makes you stand apart from your competitors. 77% of talent acquisition leaders in SMBs shared that their employer brand plays a significant role in attracting the top talent. Show the potential candidate that you have a business environment where they want to be a part of it and enjoy working every single day.

5 Cs to Find Top Talent

Attracting top talent is an art that comes with experience. However, if you are a passionate leader but have not spent decades in the industry, you can still identify the talent by using the five Cs.

1. Competence—Look for the core competence and potential to grow in a candidate. It includes technical skills, soft skills, and education which pave the way to a strong career foundation.
2. Collaboration—In today’s competitive business environment, it is vital to work with a collaborative approach. If a candidate possesses the ability to work well with clients and colleagues, it is good for the organization as well.
3. Communication—Communication does not necessarily mean being fluent in a language, rather it refers to the skills to listen and express one’s views with conviction while being courteous.
4. Culture— Having a smart person on your team is important but you cannot ignore values. Honesty, transparency, and integrity are the elements that can help an employee to become a perfect fit for the company culture.
5. Commitment—The work approach is different in every company. Study your market to offer solutions that lead to a stronger candidate commitment. It involves the drive to stay focused on the corporate mission, which is a win-win for both.

The post 7 Proven Tips to Attract Top Employees for Small Business! appeared first on Optimar Consulting.

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Pharmacovigilance is a mix of two words Pharma which denotes the Pharmaceutical or drug industry and vigilance which refers to the state of being careful or watchful for possible danger. 

It is concerned with the safety and efficacy of a drug. As it touches the entire drug lifecycle from preclinical development to post-market surveillance, it can be considered as a fundamental function to drug development. 

Dealing with an adverse event

An adverse event refers to the reaction occurring in a patient’s body due the possible side effect of a drug. A side effect can be life-threatening which can cause incapacity, permanent damage or even the death of a patient. 

Pharmacovigilance plays a crucial role in determining which adverse events are caused by a drug and which side effects are considered acceptable with respect to the potential cure for a patient. 

If a drug used to treat headache can cause palpitations, the risk would be considered too great and the benefit unsubstantial to justify the drug treatment. 

Areas covered by Pharmacovigilance

Though a huge discipline, pharmacovigilance can be divided into three sub-sections:

• Operations 

This is the area associated with the collection and recording of information about preclinical and clinical trial development. Typical jobs of life science professionals involve drug safety operations. 

Besides gathering evidence of adverse events, the operational part includes creation of a standard operating procedure, literature screening, case study reports and required regulatory reporting. 

Surveillance 

It involves data analysis and focuses more on risk management and signal detection. Professionals in this area can assist in the creation and review of reports relating to safety update for drugs in clinical research and periodic risk benefit evaluation reports. 

Systems 

This area is concerned with development of a robust system for housing safety data. This safety data is collated with the focus on staying in line with the changing rules and regulations for business/health authorities. 

Importance of Pharmacovigilance

Pharmacovigilance is unarguably the most essential function of drug development. Developing, manufacturing, and commercializing a drug requires strict adherence to regulations. These regulations focus on the patient’s safety and drug efficacy. 

• Patient safety

Drug safety ensures that a patient’s well being is safeguarded through the lifecycle of drug development. Drugs are continuously monitored for patient side effects, and any new data is collected & reported to health authorities. While other areas focus on improving a patient’s life, no other area has such a focus when it comes to patient safety.

• Authority and responsibility 

Continuous vigil means that the leadership team of a drug safety department has the authority and responsibility to recommend that a drug development process is stopped or an already approved drug is pulled out of the market. These professionals are also known as Qualified persons for Pharmacovigilance and again go on to demonstrate the central role of drug safety.

• Keep the Pharma company moving  

  Pharmacovigilance keeps the wheels of the Pharma industry moving. Drug safety influences health and has the capability to influence the business of Pharma companies. 

The post What is Pharmacovigilance and why does it matter? appeared first on Optimar Consulting.

Our hyper-connected Digital world is opening up to new business model innovations, Although it may be difficult to predict what the exact innovations hold, they can be catalogued into possible business models. 

The first premise is, remove anything that does not create value. The second is related to business models which can serve multiple markets simultaneously. The third premise is businesses opening up to international growth. 

For Small & Medium Enterprises (SMEs) developing a working business model is key to survival. 

State of SMEs

A vast majority of SMEs have experienced a decline in sales owing to the pandemic. The reduction in employment was of course more severe for non-permanent employees.   

The crisis has further worsened the already existing challenges which affect the industry. 

The top challenges include:

• Regulation and approvals 

  Several loopholes exist in the system which keep businesses from expanding. Due to delay in approvals/ registration, entrepreneurs are demotivated. Enforcing contracts and dealing with construction permits impact the business set up time.

• Lack of financial expertise

  Entrepreneurs may lack the sound financial knowledge to steer the business in the right direction. In the absence of financial expertise, they may end up making wrong business decisions leading to business failure. 

• Absence of trust 

  It can be seen that banks and financial institutions refrain from extending loans as the amount remains small and believe that they lack the repayment capacity. In such a case, they may end up stricter regulations and make it difficult for business owners to meet the eligibility criteria.

Empowering SMEs

As mentioned earlier, choosing the right business model will check whether SMEs survive or die. 

A hybrid business model such as a Virtual Captive can deliver higher value-added services while being low on cost. 

The benefits include:

• *Optional property ownership 

  *Less on capital investment and more on process flexibility 

  *Quick implementation speed

  *Enlarged business strategy and focus

  *Quick adaptation based on business requirements 

  *Transparent cost structure 

  *Total operational control 

 A Virtual captive can be considered advantageous due to smaller financial risk at the initial investment and local presence and experience of the provider can decrease the set up and operational risks. 

The model provides an opportunity for SMEs to be flexible and ensure continuity in operations. 

This hybrid solution can be ideal for SMEs that lack the required financial and technical knowledge or the maturity or size to establish an own centre. 

Another important point of view is that a virtual captive could simplify recruitment and reduce any staff attrition where the company isn’t well known in its geographical area. 

Avoiding any cost of infrastructure and operations is also crucial when it comes to working out the cost-benefits. 

Let’s map the delivery requirements with the benefits of a Virtual Captive Center. 

• *Service Delivery 

  The risks of service providing are treated in a more cooperative way.

• *Pricing 

  Continuous management of several cost elements.

• *Image 

  It is usually under the Image of the Company. 

• *Human Resource 

  The Company has a voice in HR management.

• *Governance

Lesser governance when compared to a traditional captive but larger than outsourcing

• *Operational Risks

  The risks and operational loss beyond a certain level are shared.

The post Is a Virtual Captive business model good for small & medium sized companies? appeared first on Optimar Consulting.

Offshoring can be considered a byproduct of globalisation and the increasing pressure to cut down on costs. 

Offshoring can be considered a strategic tool used by companies to configure their activities across borders. The focus has been on information technology. However, it has now become a common strategy for the services sector as well. 

As our work is becoming geographically dispersed, Offshoring can be the alternate way of conducting business globally.

Offshoring as a concept

Offshoring may encounter some resistance with the cries that the practice is similar to exporting jobs. Such arguments ignore the offshoring benefits to enhance organisation capabilities & the essence of comparative advantage between economies. 

Speaking from a policy perspective, the barriers to Offshoring should be low for organisations to operate efficiently and boost productivity. 

But it does not necessarily mean that Offshoring is the best decision for every organisation. Whether it is an appropriate solution for any organisation is a complex decision. 

Where has Offshoring been?

One of the biggest drivers of Finance and Accounting Offshoring (FAO) has been the realisation of cost savings through Offshoring of customer service, Information technology and Human Resources functions. 

Companies who farmed out specific HR and IT functions to countries such as India, Pakistan, Singapore, Ireland, and Malaysia has claimed cost savings between 50-75 per cent. 

Outsourcing may not be a new way of handling FAO functions. Still, Offshoring is driven by the motive to gain similar cost savings generated in other business functions. 

Businesses have achieved dramatic savings using two different approaches: starting their captive offshore centre or entering into a contract with service providers. 

The number of firms that have chosen to take the service provider route has spawned thousands of offshore start-ups to meet the rising demand and attract companies such as Accenture, GE, and IBM. 

As a corporate function, FAO may have lagged for a number of reasons: concern about the loss of data control, timely accurate accounting information and fear of adding a layer of internal risk control in the light of the Sarbanes-Oxley act.

Also, with the pressure from the top management, accounting managers had no strong motivation to explore the business process of Offshoring. 

However, the experience of early entrants into the field changed the game. The first movers were GM, Citigroup, and British Airways to move their back-office operations offshore. 

When Offshoring began, the managers were hesitant to lose control, but as they saw the success of the FAO efforts, they gradually became comfortable with the process. This comfort factor coupled with new pressure to reduce overhead costs resulted in FAO moving to the top of many agendas. 

Firms can successfully take advantage of offshoring benefits if they focus on moving the operations to a service provider, but not the responsibility of overall effectiveness and secondly, never outsource a broken operation as a method of fixing it up. 

Where it's going

Over the years, Offshoring has undergone a significant transformation. It has become a common part of global organisations, particularly in accounting, legal, management consulting, technical and computer services. 

After a slow-down following the Global Financial Crisis, organisations worldwide are moving their business functions overseas. 

The four key drivers of change have enabled a greater rate of Offshoring

* Globalisation: Reduction of trade barriers with recent free trade agreements have enabled free movement of business, labour, investment and resources. Globalisation has increased the competitive pressure to cut down on costs and increase growth with Offshoring. 

*Economic development: Rapid development in regions such as Asia has increased professionalism and skill level in mature offshoring markets. With higher skills come higher wages and movement along the value chain. 

*Technological advancement: Rapid technology advancements have made offshoring cost viable and an effective business strategy. In this connected world, any work can be done anywhere. Cloud computing may drive increased future Offshoring with greater technology adoption such as big data, virtual desktops, and mobility. 

*Global labour market: Offshoring isn’t simply about cost-cutting, and other motivations are becoming increasingly important. For example, having access to skilled employees where the local talent is scarce. The offshoring concept is itself changing, and tasks can easily be outsourced to freelancers or even automated. 

Factors that will determine future offshoring success

A number of key issues will help determine the offshoring success for future organisations. 

It can enable organisations to operate flexibly.

* Recognising the benefits: The offshoring benefits continue to shift from pure cost savings to productivity. The future benefits include access to diverse skills, higher value add-on work offshore and onshore employee retention. 

*Getting buy-in: As Offshoring becomes significant, long term commitment and buy-in are essential for success. While a broader range of offshoring options will make it easier, a clear strategy and recalibration will be even more important in the future. 

*Finding the right location: With the increase in the range of offshoring locations, organisations will find diversification easier and tap into a broad range of capabilities and skills across borders. Understanding the future benefits the different locations can provide is essential.

*Future planning: Offshoring is undergoing rapid change, and planning for the future may be challenging. At the same time, new trends like automation are likely to disrupt the offshoring model itself. 

The post The Offshoring Of Accounting And Finance – Where It’s Been And Where It’s Going appeared first on Optimar Consulting.

The mortgage industry is seeing a lot of ups and downs because of the Covid-19 impact. The situation has further complicated the inherently complex industry. 

As the mortgage industry is faced with complexities, lenders often need to delegate several aspects of loan processing due to its labour-intensive nature. 

It is where Offshore service providers come in and create value for the lenders. The Offshore service provider model isn’t only limited to design, development and testing by IT companies, it can work for mortgage lenders as well.

The Rewards

The key advantages of mortgage service offshoring include:

• Access to the latest mortgage technology

Whether you are a small business or a large enterprise, the set-up and infrastructure costs will eat into your profits. One of the most significant advantages of offshoring mortgage services is access to the latest technology you receive. 

As digitisation is essential in today’s world by outsourcing tasks to a capable service provider, you not only have access to the latest digital tools but also can track the exact status of a process. 

And as you don’t have to invest in the infrastructure directly, you never need to worry about the maintenance and upgrading costs. 

• Helps small & large businesses alike

Offshoring with the right service provider can appear an uphill task. At the same, one of the biggest misconceptions surrounding offshoring is its suitability for only large enterprises. 

The mortgage offshoring model needs careful deliberation from the top management, but once a process has been established, even a small lending company can go ahead and work with an offshore service provider. 

• Dedicated team of Qualified Professionals

An offshore delivery centre has a team dedicated to catering for your company-specific requirements. With qualified professionals who understand your work process, communication is easier and delivery issues can easily be resolved. 

Since these professionals already have a background, they can hit the ground up and running with minimal training and effort.

• Access to Big data Analytics & Modelling 

Big Data is used by Financial service providers to deliver targeted offers to customers resulting in high sales of services and products. As an SMB, a startup or a small company may not be able to access Big data modelling, offshoring can help you get access to the same. 

If your offshore service partner can help you tap big data modelling, you will see a marked increase in sales, profits and customer satisfaction while ensuring that all decisions are based on solid data. 

• Focus on core competency 

Mortgage processing involves an array of complex tasks which require niche skills. The services include payment processing, escrow services, investor reporting. These tasks require the thorough attention of the senior management which could otherwise be used to ensure compliance. 

One of the benefits of offshore mortgage processing is that processing and reporting services can be completed by skilled professionals, allowing you to focus on core company objectives. 

Such tasks can therefore profitably be completed by an offshore service provider, allowing the company to focus on growth, compliance, and profitability. 

• Minimize Overheads

The math of the mortgage offshoring process is simple. If you assume an overall expenditure of a business process, you can receive similar or better-quality results at a fraction of the same expenditure. 

Most service providers charge a reasonable fee, with the services being customisable to help you effectively deal with an economic downturn. 

• Global Growth & Talent

Growth is key to survival and sustainability. Mortgage firms who look to explore uncharted territories must partner with specialized companies which are reliable and complement their business operations. 

• Reduce the Turnaround time for Operations

Considering the competitive nature of the mortgage industry, financial institutions and businesses can streamline operations and revamp portfolios based on the market requirements. 

Another benefit of mortgage service offshoring is the work passed onto a competent service provider who has the required manpower to ensure timely project completion. 

Offshoring can help you keep up with the changing demands and allow you to timely meet deadlines. However, the whole shifting process involves an inherent risk. 

The Risks

• Service disruptions

With companies moving their operations offshore in a bid to save on costs and improve productivity, the practice can result in temporary service disruptions. 

The result is a momentary pause on company operations which can be mitigated with a robust workflow mechanism. 

• Higher staff turnover

Staff turnover can be higher as compared to the in-house staff due to a mismatch in technical, cultural and work standards. This again creates challenges to service the clients which requires tactful pre-joining training.

• Lack of a natural flowing discussion

Offshore customer service agents often rely on ‘script’ to manage customer calls. It can be frustrating for a borrower who has a complex issue at hand as a natural flowing discussion with an experienced native service person is missing. 

Offshore employees may not have received the necessary training to deviate from the fixed script and manage complex issues leaving companies to shift back the complaint to the in-house representative. 

A scenario based exercise for employees is required rather than sticking to a particular script.

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