Great BPOs aren’t built overnight, so don’t expect to find the perfect fit for your company just as quickly.
In today’s hyperconnected world, a successful business can be achieved in so many ways. It doesn’t exclusively fall into having the best products to date, hosting the most extravagant launching parties, or creating the flashiest e-commerce websites. The major difference between a business being successful or not often comes down to having smart, innovative processes, with suitably adept management to match. Modern process management techniques can take your business from good to great if executed properly.
A few decades ago, the trend of outsourcing started when companies began to outsource their business operations and functions to offshore locations. This was a time when the Internet had slowly but surely proven its track record of being a wholly innovative tool for business growth. The idea that there is such a system in place that can cut down costs, increase efficiency, target new markets, and have certain projects started right away so that the company can focus more on their core business activities was groundbreaking then. To some extent, it still is today.
To break it down, business process outsourcing (BPO) is the practice of contracting a specific work process or processes to an external service provider.
The services a BPO offers can range from payroll, accounting, telemarketing, data recording, social media marketing, customer support, and more. BPOs are usually regarded as supplementary support, as opposed to sore, where basic business functions from technical to nontechnical can be filled.
It doesn’t matter whether you’re a fledgling startup or a massive Fortune 500 company, businesses of all sizes outsource processes as the demand continues to grow. BPO can be an alternative to labour migration, allowing the labour force to remain in their home country while contributing their skills abroad.
Here’s how to choose the best one for you.
1. Efficiency in communication
More often than not, a company mishap is almost always a result of ineffective miscommunication between parties. To avoid this and achieve efficient collaboration, make sure to partner with a BPO company that speaks your and your target market’s language. For most cases, this is English.
While English is often seen as the global business language, there are companies that will seek BPO companies proficient in other specific languages like Chinese. A company aiming to enter the Chinese market should consider a BPO that houses a network of excellent Mandarin-speaking agents.
Sometimes it’s not even about the linguistic aspect, sometimes companies are looking to work with people already fluent in the work they do. For example, an IT company looking to outsource their services might be in the market for a BPO company specialising in tech services like Alcor BPO Company. It just lessens the burden on both parties when an effective communication model is met and followed.
2. Working hours
When it comes to looking at potential BPO companies to work with, it’s worth your while to pay attention to their operating hours. In the case of an overseas BPO company as with most cases, make sure that even with varying timelines, you more or less operate on the same wavelength.
This is crucial because some BPO companies have both day and night shifts (which means they’re open 24 hours) while others follow the regular 9-5 schedule. Going with a BPO company that has identical or similar working hours as you is more efficient and convenient, leading to fewer headaches when it comes to things such as client support and setting up meetings.
3. Global presence
With the world going fully global and digital, it’s not a rare thing for a client to ask your company to follow them into several different markets in hope of an expansion. Once you’re established in a new market, you may be surprised to find many new opportunities to work in neighbouring countries that take advantage of regional or global economic agreements.
It’s in these specific cases that having a BPO service provider can truly help elevate your business acumen, especially when it comes to gaining local knowledge and global presence to achieve more success. Not having to negotiate service agreements in 15 different countries while expecting the same level of service quality across the world with the knowledge that you are backed by a global player and local expert gives you a value that’s hard to find in today’s globalised economy.
4. Turnover rate
Having a high turnover rate means having more employees constantly leave and be replaced. When it comes to deciding on a BPO company, you might want to spend just a little more extra time doing background research on their employee statistics. As a client, there comes a very real possibility that you’ll have to deal with new faces, which can, in turn, impede continued productivity. It disrupts operations and lessens efficiency.
75% of employees choose to resign due to factors related to management concerns. The way a company treats its workers can also be a reflection of how it deals with its partners and clients, so it’s better to keep that in mind before you set anything to stone.
5. Trusted client references
In choosing a therapist, doctor, or babysitter – do you just opt for the first one you come across? No, right? The same can be said for BPO companies. In fact, the courting process for choosing the right one is somewhat a mirror to how you select other professional services to alleviate some of the stress from your life. In your search for a BPO service provider, references should be equally important.
Always remember that this is the company that is going to be handling your books and payroll or other legal compliance activities, all of which contain highly sensitive information. It’s like being in a therapy session, you want to make sure you’re in a completely safe mental space before spilling all your dark secrets. Any credible BPO will not be afraid to provide you with sound references of clients they have done business with in the past. Do take into account there may be non-disclosure agreements in place that your service provider will need to abide by.
Outsourcing has its fair share of risks and benefits, but if you are careful and knowledgeable on what to consider in choosing the right BPO or PEO company, you’ll eventually find one that will help you elevate your business.