Co-source: What is it and is this answer to future readiness?

Would you like the short answer?

Co-sourcing is an approach through which an organisation seeks to mitigate its risks and generate new value that can be converted to sustainable competitive advantages. It can best be characterised as a long-term, one-to-one business collaboration where business functions are maintained through the combined efforts of internal and external partners where both parties have a mutually vested interest in the outcome of the collaboration.

Innovative providers are using co-sourcing models with Mirus to adapt their delivery models in an effort to create a competitive advantage.

The goal is to design a cost-effective way to obtain maximum value without replacing the existing staff based on specific skills that are needed to get the job done.

Co-sourcing also provides in-house flexibility and control. Projects can be planned and executed without the need of adding unnecessary manpower which can be very costly.

Co-sourcing may seem similar to consulting but the main difference is that the organisation’s employees play an ongoing role in the process.  

In a typical consulting project, a consultant comes into an organisation, plans, and performs a specific task whilst working independently most of the time.  

In a co-sourcing partnership, the organisations staff takes an active part in project planning and decision making.  

When delivering information technology services like Mirus Works!, Mirus Metrics or Mirus Admissions co-sourcing is a successful option in helping organisations that do not have the staff capability or capacity to deploy new systems or processes.  

Take the Mirus Partner Model for example. It is a co-sourced model that will compliment your management and operational teams, in which the strategy is designed to align your organisation’s goal, targets, and performance metrics from the solutions delivered. 

Step 1: We work with you to understand your process before we propose a case for change  

We provide diagnostic review and build a case for change. Our proposal is and fully customised to your unique needs.  

Step 2: Ongoing partnership 

We implement a coaching + development plan whilst providing ongoing tactical support.  

The model covers a range of services including processes, claims management, optimising accommodation revenue, workforce management, education, and marketing as an example.  

Is co-sourcing the answer to future-readiness? 

100% 

Ensuring you have the staff with specific skills for a project is critical to success. However, aligning the right skillset with project timeline can be a challenge. 

2020 has been unusual to say the least! We are experiencing both challenges and opportunities for revisit how we do things. Individuals and organisations must now be agile and flexible. Co-sourcing provides the flexibility and control without the need to involve additional staff and other opportunity cost.  

Co-sourcing is here for the future. Are you ready for the future? 

Connect with Robert Covino, co-founder at Mirus Australia on LinkedIn. Robert helps Aged Care providers with his fresh point of view on how they approach their challenges. Please speak with  Robert to hear about how Mirus’ tools and methodologies could apply to you.  Rob is the host of the popular monthly video series Mirus Industry Analysis or MIA, for more, please click here.   

Strength in numbers. Is the short answer. Please get in touch with us to find out more.