LEARN ABOUT THE BENEFITS OF A MANAGED SERVICES MODEL
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When organizations need to fulfill a function such as quality, compliance, validation, data integrity, engineering and automation, they typically have three options:
- 1. In-house hiring
- 2. Traditional staff augmentation and outsourcing models
- 3. Managed services
The first two options are familiar, well-trod paths with their own sets of familiar challenges. However, the third option is an alternate strategy that answers the following question: Can we more effectively hire, manage and deploy the resources, technology and processes to fulfill essential functions and deliver greater value through continuous improvement initiatives to the organization?
More often than not, companies go back and forth between options #1 and #2, seeking individuals to fill the gaps, even if they need something more. Before we address this, let’s review in-house hiring and outsourcing, and when you would choose one over the other.
PROS: Internal team members are invested in your company, and you have more control over salary, schedule and security.
CONS: Hiring the required experts is time consuming and costly.
PROS: Outsourced resources typically bring specialized skillsets and relieve short-term burdens from your internal team.
CONS: Hiring of temporary personnel with little knowledge of internal processes, uncertain expertise and time lag to ramp up.
Deciding between in-house hiring and outsourcing ultimately depends on your timeline, budget and bandwidth. However, as mentioned, sometimes the challenge your company faces goes beyond staffing issues. The question becomes more of a “what” than a “who.” When you need something more, in-house hiring and outsourcing aren’t going to cut it. This is because they fail to account for two critical needs:
Organizations lack resources in areas they either don’t focus in or have the capabilities for. Resources are not just people, but also best practices, knowledge, processes, technology and more. Whether in-house or outsourced, hiring a few new hands will not fill an entire process gap for a function your company may have.
Current business models are highly transactional and offer little value in terms of leveraging spend, single source partnerships and service level agreements. Companies want to focus on the “what” (desired business outcome), but the current models force them to fall back to the “who” (people) – preventing them from meeting optimization, cost savings and core competency objectives.
Enter managed services, a flexible solution that offers a unique combination of a deeper, ongoing partnership and institutional knowledge, while optimizing processes and implementing continuous improvements.
When it comes to bringing safe and effective medical products to market faster, turn to a managed services strategy for better value, scale, and ROI.