Outsourcing business processes is not a new corporate strategy. Initially, companies related to information technology used to mainly outsource but things have changed over the past few years, now big organisations are now call center services to BPO’s happily and partnered with third party providers to reduce cost, increase efficiency and improve the quality of business processes ranging from the simplest of transactions to their core competencies. In fact, today, it is estimated that about 40 percent of Fortune 500 companies outsource at least some of their core business processes to a third party contractor.
Business-process outsourcing is the act of outsourcing some aspect of your business’s operations to a third-party vendor or service provider. A BPO Call Centre is a team of outsourced agents who handle incoming and outgoing customer calls for other businesses.
What Is Business Process Outsourcing? What does it mean?
Business process outsourcing (BPO) is the practice of enhancing how your business functions by contracting a specific business service to an external service provider. The services can include accounting, marketing, data recording, social media marketing, customer support, and more.
This article has everything you need to know about business process outsourcing: what it is, and the different categories of BPO and why do businesses go for it.
TYPES OF BPO:
The BPO industry is divided into three categories:
- Offshore Outsourcing: They are located outside of the company’s own country. For example, a U.K company may use an offshore BPO vendor in Sri Lanka.
- Nearshore: These outsourcing companies are located in countries that neighbour the contracting company’s country. For example, in the UK, a BPO in Ireland is considered a nearshore vendor.
- Onshore: These service providers operate within the same country as the contractor, although they may be located in a different city.
Major services offered by BPO Call Centres
Inbound BPO call centre services
To some, the idea of outsourcing inbound call services may seem like a risky move. After all, outside agents simply aren’t as knowledgeable as salaried employees when it comes to your company and its products.
But getting up to speed quickly is what BPO call centre agents are trained to do. They’re experts at adapting to another company’s processes and help desk tools to quickly reference the resources required to assist customers with support questions. Plus, most BPOs use their own advanced call centre technology, which enables their agents to implement a company’s existing processes with higher efficiency and ROI.
Let’s take a look at some specific types of inbound calls and how BPO call centres are equipped to handle them.
Order Processing
Some customers still prefer to place their orders by phone. However, processing these purchases can be time consuming – entering customer information in your CRM, taking payment information, fulfilling orders and so on.
Employ a BPO call centre to handle this entire process – from order placement to delivery – to give your team more time for high-level business processes, such as marketing and product development. These centres are especially helpful for processing international orders in time zones outside your business’s normal working hours and for handling overflow during high-volume days, hours or holidays.
By outsourcing your phone orders, you can keep the money flowing in 24/7 without having to pay employees overtime or taking resources away from other core business functions.
OUTSOURCED CUSTOMER SUPPORT SERVICES UK
Gone are the days when companies used to hold all customer care activities in-house. In today’s day and age, companies have started outsourced customer support services because they can efficiently cut back on costs since an in-house setup needs time, space, and staff.
c2o has earned its place as the best outsourced customer service solutions provider in the UK. We provide world-class inbound call handling (exclusively handle calls by the customer), digital marketing, and IT solutions; helping businesses prosper and reach their goals.
ADVANTAGES OF BPO:
1. You can reduce costs:
Outsourcing cuts down on costs for your in house employees. It also saves cost as the company manages to save work space to grow their core departments. A key benefit to this is that an outsourcing company which is physically located in a developing country offers lower cost than the rest.
2. To concentrate on key functions:
BPO outsourcing allows businesses to focus on their main departments and services instead of company departments that are not direct with their core processes.
For example, when outsourcing, the company will not have to monitor the customer care department. Rather, it can focus on highlighting its core business and maximising overall growth. In turn, these actions can boost a company’s performance and enhance its interactions with clients. At the end, the company can enjoy improved customer satisfaction and increased profits.
- Increased security:
Outsourcing companies that specialise in handling financial departments can often provide better security from cyber theft and this particular benefit will be more appealing to you if own a small business. Small businesses that do not have the resources for in-house cybersecurity can take advantage of this.
4. To expand their global presence:
Some BPO companies can serve customers in multiple languages, 24/7 service meaning each time zone can be catered, thus relieving and giving a break to the contractor. Outsourcing companies can leverage their presence in multiple countries and promote diversity this way.
5. More efficiency:
Because outsourcing companies specialise in the services they provide, their agents/operators can handle different situations way more efficiently than most in-house employees. .
6. Better coverage :
Outsourcing firms train multiple employees for the same tasks, promoting diversity and offering a talent pool. That means you never have to worry about falling behind if someone calls in sick. Let’s not forget that they usually work around the clock so you will never miss a call from your customer.
COMMON OUTSOURCING MYTHS:
1) Only large companies outsource: Times have changed for the better and now many small businesses have started outsourcing their services to reduce costs and increase efficiency.
2) Communication becomes difficult: Many people believe that partnering with a third party will increase confusion but that is no the case. In fact, communication becomes seamless once you are on board with a reliable third party vendor.
3) Fearing the new staff: Companies are reluctant to hire a third party vendor because they feel that the new staff will not understand their needs and a cultural gap might become an obstacle. It is important to note that a professional BPO will always train their workers according to your needs. So the new workers will only help your business flourish.
CHOOSE TO OUTSOURCE:
Outsourcing your business services to c2o is one of the main tools that modern businesses can use to progress. To summaries it all, Outsourcing cuts down on labor costs, gives a competitive advantage over your rivals, increases service levels and creates a long term bond with your clients. We hope this article helped you understand everything about business process outsourcing and why it can be a game changer for your business.