Gone are the days when an entrepreneur courageously ventures out into the market all by himself. The entire world – all 7.8 billion of us – is interconnected. This is a great opportunity for companies to tap into a rich source of talent worldwide.
Business Process Outsourcing (BPO): A Growing Need in a Fast-paced World
Today, businesses depend on a robust BPO strategy. This enables processes such as data entry to be implemented more quickly than they can on their own. Global outsourcing is now more practical as supply chains upgrade their technology. The future’s looking bright for the BPO market. It is projected to achieve an 11% increase in Compound Annual Growth Rate (CAGR) by 2023 – around USD 52 billion. Customer experience is enhanced with the help of experts in business processes all over the world. Having back office partners for data entry and other processes can help improve operational efficiency and financial performance. When choosing a BPO partner, take note of the top 5 considerations:
1. Their ability to communicate
Many companies are trying to fill in the shortage for global talents. An essential step to take is to figure out how to surpass differences in culture and manage engagements smoothly. Issues in different areas are expected to arise in working across borders. This includes managing expectations, communication and escalations. Some cultures are averse to escalations; some are not. It is vital to handle this correctly based on customer expectations.
2. Their eagerness to help you to be more efficient
Some outsourcing companies do not think outside the box. For instance, increasing headcount is often suggested for data entry outsourcing instead of exploring automation. It’s more sensible to choose a partner that aims to make processes more efficient. This involves using modern technology where possible, even if it results in having a smaller workforce later on.
3. Their process for data protection
Make sure that you are able to grill a potential partner regarding their IT infrastructure. They should also have a clear policy in place for continuity of service. Access to data storage and connectivity can widely differ between countries or among BPO companies in the same industry. The National Outsourcing Association (NOA) conducted a survey that listed the top three legal matters which managers are mostly worried about BPOs:
- 93%: ability of the company to implement contracts with offshore providers
- 93%: enforcing data protection in cross-border transfers
- 83%: technology transfer law
If the company seems hesitant to address concerns or is not sure about IT infrastructure, run away and don’t look back! There are different approaches and regulations for data security especially for those outside Europe and North America. Check if their standards are at par with those of big international companies.
4. Their method for checking quality
Consistency is highly preferred by customers. Enlisting the help of BPO partners means losing some control in essential metrics that contribute to business performance. Not being completely hands on is hard. You will feel more at ease when the partner has established quality assurance practices that they can discuss with you. When scrutinizing a potential partner’s practices, check the following: automation, innovation, standardization, integration and flexibility.
5. The company’s references
You need to have cultural understanding of where the company primarily operates during evaluation. Once you get their references, doing thorough research on their credibility is necessary. Certifications are vital. However, you need to have a sharp eye to scrutinize which are significant. You should also know its counterpart to standard authorities in the company’s region. Don’t expect for all companies to give you full access to their customer information. Transparency and full disclosure is not inherent in many cultures. However, it speaks a lot about their performance when they are not ashamed of who they work with.
Excellent customer experience is the new gold standard
When it comes to choosing the right BPO partner for your business, the quality of their customer service should always be a top determinant. Apart from their ability to communicate, their willingness to help out, their data protection and quality audit processes, as well as their references, you should also identify the type of customer support that they can provide. Will they have limited work hours for customer support or will they be available 24/7? Also, do they have a streamlined process on how to respond to your concerns as their client? How will you rate their responsiveness? After looking into all of these factors, you can then make an informed decision on who to partner with for your outsourcing needs.
The right BPO partner will give you a competitive edge: try Assivo!
Business processes need to be dependable and cost-effective so that efforts can be concentrated on perfecting the customer experience. Those who form a partnership with the best BPO companies will make their lives easier and can focus their attention on more important matters. If you are on the hunt for a BPO partner, Assivo might be a good fit for you. We offer services such as improving data quality and cleansing dirty data. Feel free to go through our range of services, and you’ll surely find a service that will fit your business needs.