BPO provides you with an extra team to help you manage business functions, boost your reputation, and enhance your performance.
Considerations for Implementing BPO
BPO is a practice focused on subcontracting third-party services to execute and improve supplementary business features and services to the consumer. Business process outsourcing (BPO) can be implemented in different ways based on your business model. However, this can also be adapted to your needs at specific times.
More than a trend, BPO services are expected to grow to $30.4 billion by 2027 due to the magnitude of scalability for companies that already use this type of outsourcing. That means that BPO allows you to make cost-effective decisions with a strategic impact in enhancing and expanding on-going operations without already having all the resources to spend on them. You can also scale your team to provide more flexibility in certain business areas.
A major consideration when using a BPO is that you need to define what you need it for. The most common include handling high-demand customer queries and requiring extra support during demanding periods. This provides you with an extra team to help you manage business functions, boost your reputation, and enhance your performance.
Among other concerns, it’s important to establish negotiated team conditions for both parties to meet their expectations and goals. In addition, you must be aware of security standards and vulnerabilities to avoid major issues and blockers during project performance.
How to Start on BPO
To hire a business process outsourcing company, you need to choose the right IT partner to work with. The selection involves defining your capacity, available resources, goals, scope, and requirements to decide what type of BPO services you need. During this process, it is necessary to discuss expectations, schedules, and protocols before the signing of a contract. With this view, you will transform duties into commitments to stretch the relationship beyond the contract terms.
However, the setup requirements have only just begun. What BPO does include is the ongoing modification of phases throughout the project in terms of system understanding, business models, cultural adaptation, communication testing, and staff training. More objective parameters, production metrics, and performance stats will allow you to evaluate the effectiveness, make decisions on new cycles, and apply needed adjustments to the overall performance of the team.
Why Using BPO for Customer Service Experience
While 73% of consumers pointed customer experience as one of the key factors impacting their loyalty to the brand (PWC; 2018), cost savings and enhancing processes are essential factors driving a company’s success in the marketplace. BPO services are a solution to deliver a good customer service experience and results-based performance.
A major benefit of BPO is that it represents reducing costs related to team needs in physical space and training. In addition, you can save time on consuming tasks and prioritize and add more value to other areas. This can also lighten the weight of repetitive client requirements and lower your team’s stress levels.
By bringing in high-tech talent through BPO services, you avoid multiple HR processes as opposed to regular hiring. This given the BPO company assumes all the recruitment, training, and management of the hired staff, so you won’t have to worry about it.
BPO can be a differentiator driver for your company in the eyes of the customers.
Enhancing Customer Service through BPO Services
On the client side, they will see a valuable, more effective customer service experience with quicker responses. In doing so, you will provide improved customer satisfaction that leads to higher engagement, reputation, and, even, sales.
Counting on business process outsourcing can be a differentiator driver for your company in the eyes of the customers. While this will ease some of the processes, it will also mean ongoing improvements and a fresh look at what’s happening outside of your team.
By analyzing and understanding customer service key drivers and KPIs, you will be able to implement new ways to handle client queries. But more importantly, BPO allows you to have a more-centric client approach with full resources oriented towards that and without investing a lot of money in the business side of things.
Despite upping the client loyalty, you must ensure an accurate adaptation of the BPO team to your business culture. That way, they can really understand your company’s approach and differentiators to meet partnership and client needs and exceed expectations.
Last but not least, BPO services are not an option for sacrificing cost over quality. You should then take into account monitoring processes as common practice to review work terms with your IT partner and adjust your business internal processes if needed.
Advancio is ready to help you with this business adventure with technical expertise on BPO! Knowing that you can count on this type of team resource, contact us and improve your customer experience!