7 reasons to outsource Competitive Intelligence activity
- Competitive Intelligence
When an organization assesses the possibility of implementing a Competitive Intelligence unit, it usual to have some doubts about the need to outsource the systematics of CI, i.e., hiring an external to feed and keep the system alive. Assuming that this is not ideal, there are cases where the circumstances recommend taking such decisions. This article gives 7 reasons to outsource CI:
1. Unavailability of human resources. There are organizations overwhelmed by the day to day, which do not have time to devote to the CI. In these cases, external support is welcome, although these external consultants should acquire a deep understanding of the business.
2. Search for an immediate return. If a suitable provider with sufficient expertise is chosen, the results can be immediate. Information of interest will be received from the outset and the analysts’ learning curve will be faster.
3. Lack of appropriate profiles in the organization. Depending on the activity to which the entity is engaged, it may happen that there are no suitable profiles for the intelligence analyst work, so must resort to external agents.
4. Improved performance. If the CI is subcontracted the organization can concentrate all his efforts on the main business activity, the one that makes it grow.
5. Avoiding structural costs. When outsourcing CI activity variable costs are incurred rather than fixed costs, so if there is need to reduce costs or the experience is not satisfactory, the activity can be ended easier.
6. Improved process efficiency. Performing the CI process with experienced professionals allows the process to be more efficient, reducing times.
7. Access to qualified experts. Outsource involves working with qualified experts that will accompany and advise during the commissioning of the system, bringing their "know-how" and experience which helps to improve results.
If you are thinking of launching Competitive Intelligence in your organization and do not have clear the steps you need to take, you can contact us for assistance. Also, you can try free professional software like INNGUMA requesting a demo.