Table of contents
- EXECUTIVE SUMMARY
- Employee Recruitment and the Initial Approach
- Strategies for Marketing and Advertising
- Success Factors
- What distinguishes us
- SUMMARY OF THE COMPANY
- Ownership of the Business
- BACKUP OF DATA
- ANALYSIS OF THE MARKET
- Market Segmentation Strategy
- Patterns of Purchase and Competition
- STRATEGY FOR MARKETING AND SALE
- THE FIRST STEP IN MARKETING AND SALES
- Expected Sales
- Marketing on the Web
- THE STRUCTURE OF ORGANIZATIONS
- FINANCIAL STRATEGY
- CONTRACT TERMS THAT WERE HIGHLIGHTED
Omega Outsourcing is an Indian personal data science outsourcing company founded by engineering graduates from Calicut’s National Institute of Technology (NITC). It is now the right moment for facts science to develop. With the recent positive developments in the stock market, funding is once again becoming available for IT infrastructure upgrades. Omega Outsourcing will position itself to earn a significant portion of that growing revenue. Kerala, Tamil Nadu, Andhra Pradesh, Karnataka, Maharashtra, and New Delhi have all got running permission from the firm, which is based in Bangalore. By considering the conclusion of year five, Omega Outsourcing forecasts enviable cumulative net profits.
Employee Recruitment and the Initial Approach
Omega Outsourcing will utilize the business expertise of its founding members to give excellent service to its clients. With its founders operating out of their homes and using their own transportation capacity to reach customers, the company will start with as low an expense as possible. In the beginning, the agency’s focus will be on customer satisfaction and work completion in order to establish a strong market reputation.
Preliminary personnel recruitment will be mostly based on demand foundation as and when the clients desire it. After the first year, when a solid foundation has been established, the firm plans to provide permanent contracts to those who were previously employed. The company’s business enterprise structure is divided into four divisions, each with three layers, as stated in the following section.
At first, the company expects to charge a minimal fee of 15% of the outsourcing’s net worth, which will be increased to roughly 22.5 percent by the end of the third year or when the company has acquired more than 50 customers. As long as the agency satisfies customer requirements on schedule, this assures an expanding profit margin. If the project is not completed on time, the organization intends to compensate patrons with 90% of their money.
Strategies for Marketing and Advertising
The marketing department is made up of experts in the area of internet-based entirely flash advertising and online surveys that cover topics such as the importance of the outsourced endeavor, net worth, deadlines, and so on. Within the first month, these strategies might provide a qualitative assessment of the first demand. Following a quick analysis, the needed consumers may be addressed with the above-mentioned modest service prices. For the first five years, a predicted earnings margin is presented in the graph below.
Omega Outsourcing’s goals for the first five years are as follows:
- Assume a 40% share of the whole outsourced market in the IT industry.
- Create a presence in Bangalore and Hyderabad.
- Achieve a three-year contract with at least 40 clients.
- Hire at least 1500 permanent employees.
- Attain an annual income of at least Rs. 2 crores
Omega Outsourcing is a ground-breaking enterprise technology firm that was formed on the belief that one company can do more than making a difference; it can transform the whole face of business as we know it. We plan to keep the “complete the assignment on time or pay 90 percent of the patron’s cash” policy in place as long as the employer remains. Our primary goal is to become India’s exclusive market for the entire IT sector.
- The breadth and depth of one’s knowledge.
- Establishing a solid commercial connection with the client company in order to obtain a thorough grasp of their operations and requirements.
- The ability to connect with people in the business.
- Employees are solely hired from the country’s finest universities.
- A well-thought-out marketing and advertising strategy is essential.
- Using a web-based client
What distinguishes us
- Our organization is the only one that offers a “complete the job on time or get 90% of the client’s money back” guarantee.
- For the convenience of both clients and staff, the Omega Outsourcing business website will have the most complete graphical user interface to date.
- The client business has the option of selecting from a list of pre-screened personnel offered by the provider.
- Contact information is easily accessible, and a weekly progress update on the outsourced project, including a financial report and money use, is provided.
The mission will be completed one week before the deadline so that the client firm may review it and provide input on any changes to the objective.
SUMMARY OF THE COMPANY
Bangalore is the headquarters of Omega Outsourcing. The first team will be made up of a small group of talented computer engineers whose combined talents and experience span a wide range of IT topics. The organization’s first emphasis will be on installation and setup projects, which will evolve into higher-level jobs as the company gains the confidence of its clients.
Ownership of the Business
Omega Outsourcing is a privately held corporation, with each of its four founders owning a quarter of the company. The first funds necessary to build up a website, as well as additional sources, come from the founders’ own assets, which are listed separately in the table below. Because the organization will be heavily reliant on its founders’ resources, there will only be a nominal initial tool price. Every employee is responsible to cover the costs of transportation, phone calls, and other expenses that occur during the course of normal business. As additional buyers and projects are bought, the company will begin to pay these costs. Within the first year, detailed rules on staff and customer management will be issued.
Omega Outsourcing will provide a variety of support options for its clients, which are detailed below:
The most crucial factors impacting the client’s pricing are the amount of personnel necessary and the duration for which the purchaser desires the offerings. Closer to the organization, the customer will be asked to pay an initial amount of “Rs.1 Lakh.” The following are some possible charges:
The preceding expenditures are based on a software program engineer earning Rs. 1500 per day and a team leader earning Rs. 2000 per day. Aside from that, the customer is given a list of non-obligatory choices.
- Premium Service: When several tasks are to be completed by utilizing the organization from a variety of customers, a client with a top-rated carrier pack will be given first priority. The top-rated supplier is categorized into three levels of importance.
- ZERO LEVEL – The highest priority receives an additional 25% of the net project value.
- LEVEL 1: – For an additional 10% of net project value, go below LEVEL ZERO and above LEVEL TWO.
- SECOND LEVEL -Least Priority, with no additional amount deducted from the net value.
- Combo Pack for Multiple Projects:
If a customer requests more than one work to be completed at the same time, each will get a 2.5 percent discount.
- Client who can be trusted: If a client has utilized the company’s services for more than two years or has provided the agency with more than seven projects, the client will be granted a trusted customer reputation. The customer’s trusted reputation instantly qualifies them for an LEVEL ZERO premium bundle as well as a 10% internet discount.
BACKUP OF DATA
The company’s resources will store all of the information utilized in a project. To access this service, an upfront payment of Rs 10,000 is required. The first three customer initiatives will be preserved for free, after which a fee of Rs. 4500 per 50GB of data recovery would be charged. It’s vital to safeguard your company’s data. Omega Outsourcing will manage your data security system to ensure that your data is protected through tape backup. While Omega Outsourcing cannot be held liable for lost data, we will make sure that backups are confirmed and checked on a regular basis. The required hardware will be purchased and installed by the client.
ANALYSIS OF THE MARKET
By 2011, the Information and Technology Service sector is predicted to increase at an annual rate of 8.58 percent.
We’ll be concentrating our efforts on mid-sized firms with 500 or fewer employees. These businesses often do not have large internal IT staff and may wish to take full benefit of our services. Even though the information in the market assessment table comes from the Indian Census Bureau and is entirely based on 2010 data, it is illustrative of the local market’s potential.
Market Segmentation Strategy
Omega Outsourcing specializes in assisting firms that are large enough to get a clear return on investment from information technology, but not large enough to have their own permanent IT team. The market analysis desk’s business groupings represent the largest firms in our target area that fit our preferences. Omega Outsourcing specializes in providing statistical scientific infrastructure to businesses. We will provide carrier services ranging from advice to installation. Services will be purchased on a per-customer/case basis, with a lot of private communication between Omega Outsourcing sales personnel and potential clients.
Patterns of Purchase and Competition
Word of mouth and reputation are key in the business where Omega Outsourcing operates. While a little amount of highly focused advertising may be beneficial, the majority of contracts are obtained via social networking and social relationships.
STRATEGY FOR MARKETING AND SALE
The first investment for Omega Outsourcing will come from the personal savings of its founders. Omega Outsourcing will primarily get customers via word-of-mouth and industry networking. The firm’s success will be determined by the level of service and joy provided to customers, to the point where they will gladly suggest a new business to the organization. Omega Outsourcing stands out from its competition because of its eagerness to provide excellent customer service and satisfaction. It places high importance on its customers’ hobbies and considers any feedback helpful in enhancing its services.
THE FIRST STEP IN MARKETING AND SALES
Omega Outsourcing’s first marketing plan will mostly rely on word-of-mouth and networking among industry professionals. The most difficult part of the process will be getting our name out in the community. We’ll become involved in a number of local business-specific associations, giving us direct access to potential consumers. Sales will place a greater emphasis on establishing self-confidence in Omega Outsourcing’s expertise and abilities rather than on creating connections. “How can Omega Outsourcing excellent satisfy a customer’s records technological know-how needs?” will be our primary focus. The key to completing business will be to provide this response in the form of a clear, simple proposal accompanied by a competitive price.
At the outset, sales are predicted with a focus on task labor. During the first several months, we’ll be focused on completing one-day to one-week projects while also establishing Omega Outsourcing’s reputation and brand. Omega Outsourcing will have signed three-yearly carrier contracts during the first six months, doubling that by utilizing the end of the year and subsequent semi-annual periods. Sales contracts will be month-to-month installment contracts with a specified amount of time. Our completely direct fees as a carrier firm would be based on the time spent by staff responding to client requests.
Rupees are used to express the quantity. Omega Outsourcing will set modest marketing goals aimed at establishing a brand among the many IT firms in South India.
Marketing on the Web
Mega Outsourcing’s online presence will now not only serve as a vehicle for the company’s promotion and marketing messages but also as a crucial tool for our clients. Customers will be able to manage and see their accounts from any location with Internet connectivity. Consultants in the field will also be able to use the website to keep track of their time and work diaries, as well as to create and print fast task estimates. Omega Outsourcing’s online presence will be used to supplement the company’s overall marketing plan. It will serve as a point of reference for data about the company and its services, as well as provide credibility to the advertising message to a limited extent.
Omega Outsourcing’s website will be used as a tool to supplement the company’s regular marketing efforts. It will function as a source of information about the employer and its services, as well as provide credibility to the marketing message to a limited extent. The website of Omega Outsourcing will remain two-tiered. To maintain client information, a back-end database will be used. A smaller professional developer will assist in the development of the site.
THE STRUCTURE OF ORGANIZATIONS
Omega Outsourcing will have four part-time workers from the start, all of which are the company’s founders. These workers will be in charge of all aspects of the company and will fill both management and technical positions. They will be the company’s four founders. Engineers will be recruited as the company expands. We anticipate that by the fourth year of operation, the original four workers will have been relieved of all technical tasks and will be able to focus only on their administrative duties. The agency’s divisions include:
- DIVISION OF FINANCES
- DIVISION OF SALE AND MARKETING
- DIVISION OF PROJECTS
One group supervisor will report to one of the four founders for a group of no more than 10 persons. Omega Outsourcing will also hire a full-time sales and marketing manager at this time.
Omega Outsourcing plans to maintain a team of five engineers in place for most of 2011, pending business conditions. To help with phone and office administration, a secretary will be recruited at the start of FY 2012. As workload requires, one additional engineer will be added to the team before the end of 2013. The original founding members will be shifted from subject work to management in early 2014 and will be replaced by other engineers. A full-time marketing/salesperson will be added to the team.
Annual compensation increases of 5% for the workers and 15% for the founders have been projected.
Omega Outsourcing will start with challenge work before moving on to service contracts after six months. The company plans to increase its venture work to 2,560 man-hours each month and increase its carrier contracts by six each year. The first increase will be funded largely from the wallets of the company’s founders. The agency will support all growth from the business’s money flow while staying debt-free.
The founding members of Omega Outsourcing will shoulder a large portion of the financial load of running the firm at first. Dedicated office space will not be required until FY 2011 when we plan to launch an office in Bangalore. Omega Outsourcing will reimburse any travel-related expenditures paid in the course of business till then. Voice mail services, marketing, insurance, Internet connectivity, and Web presence will be the only regular charges.
Customers would be charged Rs. 11.55 lakhs a month for a total of 25 workers. Engineers would be paid a base pay plus an additional Rs.200 per hour for on-call and overtime work. Employees that start a new project/contract will get a 5% bonus on the total venture/contract price. Mobile phone calls for business will be compensated.
We’ll be based out of the founders’ houses for the first year. In the first year, utilities represent the worth of domestic high-speed Internet access for all four workers (Rs.6250 every month). This access is necessary for staff conversations as well as file transfer for all assignment and carrier operations.
After the first year, it will be more cost-effective and tailored to our growth to rent a space in Bangalore where we can consolidate equipment, combine utilities, and have a central location for our work and secretary. The monthly rent for an office home at the start of FY 2012 is expected to be Rs.30,000.
The profit and loss statement also contains a line item for charitable contributions, which we believe are critical to our goal, as well as marketing and community involvement. Beginning in the second year, 5% of all online revenues will be put aside for charity on an annual basis, depending on the preceding year’s success.
CONTRACT TERMS THAT WERE HIGHLIGHTED
IN THE RELATIONSHIP BETWEEN OMEGA OUTSOURCING AND CLIENT COMPANIES
The whole words are no longer explained underneath; just the most important elements are emphasized.
The project must no longer be outsourced to other companies.
A month should be the minimal amount of time necessary for completion.
After 25% of the agreed-upon challenge time frame, no changes to the specified assignment will be considered.
Additional resources necessary for the mission’s completion must be delivered by the corporation before a particular deadline agreed upon at the time of the contract’s signing.
Within one week after signing the contract, a 35 percent increase in payment is due.
Omega Outsourcing will no longer be held liable for the termination of the outsourced project, and the entire payment must be paid.
Omega Outsourcing will constantly keep the number of employees at the desired level.