The biotech sector is in charge of research and development of medical solutions by using advanced technological means.
It is one of the most developed industries nowadays, in which many companies operate in a variation of fields. Sometimes biotech companies must carry out projects that exceed their main area of expertise. In these situations, it is recommended to opt outsourcing in the biotech field.
Adecco Israel is a business solutions management company that offers outsourcing services for many biotech companies in 66 countries worldwide!
What is biotech outsourcing? When is the right time to do outsourcing in the biotech field? What is the correct way to do outsourcing?
Read this article to learn more about it.
Why do biotech companies turn to outsourcing services?
Outsourcing is an employment method that transfers the responsibility of executing a project to an external agent. Outsourcing services can be given in any area in the market.
In many cases, biotech companies are in the midst of promoting a project, and in order to develop it they need counseling, direction, and even execution of some tasks that are not part of the company’s main expertise.
Instead of investing resources into training employees to do the tasks, while allocating resources into dealing with significant placement challenges – many biotech companies use outsourcing services.
For example, a biotech company engaged in environmental biotechnology, that aspires to find an environmental solution for optimal utilization on agricultural waste, could find itself in need of code writing for a specific task, while none of its employees are capable of doing so.
Logically, direct employment of an employee for a solitary task is not logical or profitable, and these cases call for biotech outsourcing. By doing so, a company can define the problem and the needed solution and transfer the responsibility to an external agent.
At the end of the process, the task operator will provide the company with a finished product that will help her continue with her project.
Does biotech outsourcing save costs?
The answer is simple – most definitely, yes! Savings from outsourcing in the biotech branch stems from a couple of reasons. Firstly, outsourcing in the biotech field usually turns to the international biotech market.
Companies can contact service providers from all over the world – including countries where the wages are low in relation to the cost of similar services in Israel or other advanced countries.
Secondly, when it comes to a temporary project, the signing of an employment contract is accompanied by marginal costs of opening an employee file, social provisions, social security, pensions and so on.
Adecco Israel’s outsourcing provides a final product that embodies all the costs, without having to deal with additional administration.
Biotech outsourcing – what are the main challenges?
In order to optimally implement outsourcing in the biotech field, it is recommended to give special attention to several matters:
Defining the project
It is necessary to characterize and accurately define the required service, in order to implement the task in the most precise way. This is seemingly an obvious thing, but you would be surprised to find that there are many cases in which biotech companies did not describe the requested project properly, which in turn caused a waste of time and resources.
Finding a right professional
In order to receive a good product, a trustworthy professional is required to do the job. It is important to notice aspects such as adherence to a schedule set by the company, experience in the relevant field, recommendations, etc.
The more complicated the task is, especially if the project is abroad, there is a need to be careful and make sure that everything meets the regulation requirements of the company in which you operate.
There may be complicated situations in which a project is being executed for an Israeli company that operates in several countries. In such a case, there may be a need for regulatory requirements of several countries at the same time.
As in any case, and especially when outsourcing is implemented overseas – it is imperative to make sure everything is done according to the law.
When a biotech company applies outsourcing, some challenges arise, and they require attention and treatment. Without efficient and organized work, the biotech company could make critical mistakes.
How to correctly implement outsourcing for a biotech company?
Outsourcing is very beneficial (especially outsourcing abroad) as it is paid against a tax invoice that is considered a deductible expense, in which VAT is deducted and there is a huge difference.
Moreover, the company does not pay all employee’s social benefits, as required in an employer-employee relationship.
The lack of these payments, as well as the rest of the benefits required by the employee, often accumulate to a considerable amount. The more complicated the outsourced project is, the bigger chance there is to make mistakes that can be very costly.
In cases where the biotech company lacks the knowledge, experience and resources needed to implement outsourcing in the most efficient way – Adecco Israel, who specializes in outsourcing management and operation, can give the necessary aid.
Adecco Israel provides business solutions to many companies worldwide, including outsourcing, recruitment and placement, employment, CFO and financial management, and so on.
When it comes to outsourcing, especially in the biotech field – the requirements are often very defined, and quality work is required, without compromise.
Adecco’s advantages are expressed in its many years of experience, and the tools and knowledge in its disposal, that are needed to manage outsourcing projects from end to end, especially when it comes to the biotech field.
Adecco Israel has the required information to apply the most efficient and professional outsourcing, in any field and in any country around the world.
Instead of investing a considerable cost on employee training, you can get a centralized service that suits the project’s or the company’s specific needs and receive a finished product with maximum efficacy.
As a business project management company, Adecco Israel provides the most suitable solution to its various clients in the biotech field.
Without limiting the project’s location, Adecco Israel is deeply familiar with all the regulatory aspects in every country, which allows biotech companies to avoid unnecessary occupation with bureaucracy in foreign countries.
Adecco operates in 66 countries worldwide. Its outsourcing services enable companies to optimize their business activity, and thus maximize the company’s profit.
We would be happy to advise you on the business solutions that will be suitable for your company.