It’s common to consider additional or new talent and tech resources when rough times like high demand seasons require them. But, what about transforming your business through internal processes and customer experience? IT solutions like BPO and RPA are the approach that you are looking for and we will tell you why.
Evaluate your Digital Business Transformation
First Stage: Implementing BPO
BPO is a strategy that involves hiring third-party services to handle your non-core business activities. This is commonly implemented when you have a talent shortage to do tasks or have high-skilled support. In other cases, it can help your business get the time and resources it needs to launch products or services. The demand for these services continues to rise as their revenue is expected to show an annual growth rate (CAGR 2022-2026) of 5.95% (Statista; 2022).
For those counting on this, you should know that there are two main types of business process outsourcing. Back-office compromises internal functions such as human resources, accounting, and IT operations. By contrast, front-office covers everything from marketing and sales to customer service. You can execute this strategy in various company departments, or for certain projects.
When to implement BPO services? If you have resource scarcity, repetitive tasks, measurable processes, and you want to increase costs, staff, and time savings.
If you have decided that you want to hire on business process outsourcing, it’s important to consider management as a key factor in integrating new talent into your business culture. You then need to evaluate your internal processes and decide what activities will be delegated. The latter must be defined in number of resources and time spent on the short, medium, or long-term.
As a benefit, you and your team will be getting more metrics and constant evaluation of your processes and results. This will provide you with additional information to improve your performance not only to meet demand, but to make major changes to your business model.
Second Stage: Starting Robotic Process Automation
RPA is based on software robots that understand queries and processes, so that they can automate actions. Rather than thinking that robots will likely displace humans in the first place, this technology helps to reduce errors and speed up time responses. The goal of this automation is to automate repetitive, high volume, tedious, and superfluous tasks.
But the more artificial intelligence (AI) and machine learning have the tools, the more technology will be able to perform complex cognitive processes. These further include data interpretation and management, continuous self-learning, and improvements to emulate higher levels of decision-making at the human level.
Robotic process automation can quickly respond to and respond 24/7 to meet workload peaks while your team focuses on core strategic activities and feels less stressed. They could be more involved in what humans are better like creativity and innovation, among other skills. According to Gartner (2021), by 2025, 50% of businesses will have to develop AI orchestration platforms to use AI, an increase of less than 10% by 2020.
When to start RPA services? If you have a lot of data processing, a high volume of regular tasks, rule-based processes, and you want to reduce staff stress and response times.
To implement this technological solution, you must review your business operations to understand the vulnerabilities, strengths, and opportunities for improvement. This will be the initial step towards modernizing your legacy system into a platform that scales to faster and faster processes. Even when robotic process automation is fully implemented, it still requires humans to configure the software and constantly correct mistakes by the robots. This given they still need to learn about and adapt to the system.
How Having both BPO and RPA?
Why only have BPO or RPA when you can have both? These approaches can provide you with flexibility, productivity, scalability, innovation, and enhanced employee and customer satisfaction. You don’t have to sacrifice one to choose the other; instead, you can integrate both to continue your business transformation. The best is that you can do it at different levels and times during the implementation of these technologies.
By having more time and access to tools and insights on processes, you can invest in additional efforts and technologies. This can provide you with a competitive advantage regardless of your industry.
BPO will help you to meet current demands while RPA will prepare your infrastructure for future opportunities.
The first step is to evaluate all your core and non-core business functions and performance based on those metrics. You can then transfer that information to your service provider, so they can understand your processes and systems.
The second step is to count on an IT partner that understands your business model and system. When you establish first contact with them, data security, IT platforms, provider capacity, regulatory requirements, and data documentation are a must to discuss.
Consider a good fit for a partner at a robotic process automation or BPO company that provides you advice on tracing processes and efficient solutions. One that not only sets the expectations and scope of the plan, but one that offers scale for these technologies.
Third Stage: Setting Up your Business Transformation
Advancio offers more than just RPA and BPO services separately. We provide you both with a transformation path that is more than just a resource replacement. Our focus is to gain insights and understand how your company works. Then, we can help you invest in the appropriate platforms, technologies, and tools.
If you’re still wondering how this can benefit your organization model, talk to us to start your business transformation.