A lot of business owners are frequently weighed down by never-ending administrative and paperwork responsibilities. These non-revenue-generating activities, such as live chat service, email support service, and text messaging support, take up valuable time that business owners could otherwise use to expand the company.
Business process outsourcing (BPO) is a tried-and-true technique for assisting business owners in refocusing their primary goals and returning to expanding their businesses. Companies of all sizes can greatly benefit from BPO since it enables them to achieve a level of achievement that isn’t always feasible while depending on limited resources.
What is Business Process Outsourcing?
Business process outsourcing is a technique where firms entrust a third-party service provider with carrying out specific business operations. Business process outsourcing centers on services that are often limited to non-primary business activities that don’t immediately contribute to a company’s core business function, like contact centers or tech support.
What are the Risks Associated With BPO?
Outsourcing your company’s non-core business tasks have some risks like other business endeavors. The most notable of these are:
- Over-dependence on a service provider from a third party.
- Giving out your private information to third parties and running into unforeseen expenses or development constraints.
When you outsource tasks that are essential to the success of your company, like call center duties, you are forced to depend on businesses whose internal operations you have no control over. Your personal workflow and the degree of customer satisfaction could suffer if something goes wrong or services are not provided as expected.
Anytime you employ an onshore outsourcing provider with important client or business data, data security and privacy breaches are a problem. However at EmpireOne Global Solutions, all your data and passwords are safely stored and encrypted on a secure cloud-based platform.
The Benefits of BPO
BPO Reduces Operating Costs
When businesses opt to outsource services, there is a significant cost-saving factor at play. When outsourcing, businesses might use variable-cost models rather than the fixed-cost models expected to keep local staff.
Businesses Can Concentrate on Core Tasks
Services that aren’t directly tied to a company’s core operations and processes are frequently outsourced by businesses. When a U.S.-based brand chooses to work with a Language Service Provider that has extensive experience in the field, for instance, they won’t need to keep an eye on translation tasks as closely. Instead, the business may concentrate on expanding its operations. The business will gain a competitive edge, more revenue, and higher customer satisfaction ratings.
Expands the Global Reach of Businesses
Some outsourcing organizations offer 24/7, 365-day customer assistance in a wide range of languages, relieving the contracting company of such obligations. Companies that outsource can increase their global presence without running the risk of local divisions becoming obsolete.
Businesses that outsource their services are frequently better able to respond to risks associated with the introduction of new goods and services. By outsourcing, the company can also restructure its internal resources to guarantee that its core business operations are given top priority. The contracting company will save time, improve quality, and expand their capacity because they outsource specific services to specialists.
How to Pick the Best BPO Partner
1) Examine Your Business Processes
Spend some time determining which business processes your organization can outsource. Be clear about the kind of work that is needed, duration of time, how much it will cost, and the success criteria. The more defined your needs are, the simpler it will be to limit the list of BPO providers.
2) Create a Shortlist of Potential Partners
You can find the ideal business process outsourcing provider now that you are clear on your criteria. When selecting an outsourced service provider, three main factors are important:
You should research their background and prior experience working with companies that are similar to your organization. You can learn more about their case studies on their site or speak with any existing clients you may know.
Even while it’s crucial, you shouldn’t make your choice entirely based on the service’s cost. The cheapest option frequently ends up being the most expensive in the long term, like many other things in life.
The ability of the service provider to scale the procedure as your business expands is another factor to take into account. In order to meet your evolving business needs, a competent outsourced service provider should be able to offer you expanded services and support that meets your needs.
3. Create a Contract
Design, negotiate, and finalize a contract to establish particular terms, KPIs, and service level agreements after selecting your BPO provider. Make sure that the contract’s terms can be carried out and truly benefits your business rather than just adding to your workload.
4) Get Set to Launch
What is left to do after the paperwork has been signed is to decide on the project’s launch date. The size and complexity of the company services being outsourced will affect how long it takes to complete your BPO project and properly hand over control.
Relationship Building with Your BPO Provider
Your BPO project needs to be profitable for both your company and your provider. Build your connection on mutual respect and trust. The following are tips to building a good relationship with your BPO provider.
1. You must recognize and encourage your provider’s desire to make a profit. Both parties must consider each other’s long-term interests.
2. Both parties must be aware that the Service Level Agreement will need to be modified as they acquire experience or as new performance standards are required by changing circumstances.
3. Your company must be aware of its obligation and commitment to the initiative, acknowledge it, and honor it.
4. Participants should use accepted problem-solving techniques to find and address issues.
5. The project team must be aware of the interpersonal expectations in both organizations, especially if they are located in separate countries.
Business process outsourcing has the potential to revolutionize any small- to medium-sized or large business when properly planned, implemented, and managed. BPO has the inherent capacity to propel your company to higher levels of success more quickly.
At EmpireOne Global Solutions, we are an omnichannel contact center. We provide inbound and outbound calls; live chat service; email support service; and text messaging support service. Contact us today to get started.