Every business wants to achieve growth. If the business isn’t growing, it is time to conduct a serious study as to why it is not happening. However, if you are growing and expanding to newer pastures and markets, it is time that you concentrate more on the core business you do and take care of the rest of the supporting and complementary aspects—such as customer service, technical assistance, logistic support and a myriad of others—with the help of any of the best outsourcing services companies whose core business is providing outsource help.
However, there can be situations where you might go thinking ‘do I really need to outsource?’ Consider the following aspects directly associated with offshore outsourcing advantages to understand why it is really wise to do so.
For the ease of understanding, we will discuss the strategic advantages first
Emphasize on core competency:
When businesses are able to outsource most of their routine services to offshore facilities, they will be able to concentrate on their core competency to drive better strategic planning and hence business growth. Before outsourcing became the norm of the industry, many healthcare businesses had to carry out all the complementary services such as transaction processing, claim settling, transcription and the like by themselves. However, now with the option to outsource, they can concentrate on their core business offering which is ‘patient care’.
Use strategic resources for core competency enhancement:
After you outsource your routine services, you can properly direct all your strategic business resources to make your core business all the better. When top-management is able to fully involve them in decision making process concerning their core competencies, they will be able to create effective competitive advantage in the industry.
Faster migration to better technology:
While outsourcing most of the IT processes, businesses can make use of newer technologies provided by the call center service provider. When they are able to make use of such advanced technologies with minimum investments, they will be able to make better use of their investments and drive better productivity.
Better risk management:
Whenever you try to associate with an outsourcing provider, they will have all the necessary back-ups required to meet any sort of contingencies, if they happen. This helps the business to respond very well to such situations without having to go through any sort of service interruptions.
Optimal infrastructure investments:
While most of the support services are outsourced, it helps the business save on the investments they need to make for infrastructure development. Such funds can then be better utilized to improve the core competency and customer satisfaction of the business.
Access to top-class facilities:
When you associate yourself with offshore outscoring companies they normally have all the latest technological infrastructure and capabilities to support you in providing the best service to your customers. If you are trying to get them all by yourself, it will surely cost a fortune.
Now that you have understood most of the strategic advantages of outsourcing services to India, let us now move onto the tactical advantages.
Control operating costs:
One of the most talked about aspects that make outsourcing your services to India a lucrative business is the availability of cheap and high-quality labor in India. This helps the business get maximum value for the investments they make here and better utilize the resource to enhance core competencies as well. You can simply check the customer testimonials of Indian companies to be convinced of their suitability as your ally for outsourcing.
It Acts As the Best Platform to Collect Customer Feedbacks:
Most of the times, on hiring the support of a company providing outsourcing services to clients from diverse business verticals, their executives interact with the customers daily and collect feedbacks unfailingly. This will help the business understand the attitude and approach of the customers towards the services and products offered by the business. The insights that can be generated from these feedbacks can be effectively utilized by the business to make strategic decisions about its product offerings and future expansion.
It Is Endowed with Impeccably Experienced Professionals:
One of the most important aspects of hiring the services of a business process outsourcing company is that they already have domain-expert professionals who know what they are doing. It is an incredible advantage since it will save you from all the hardships of recruiting, training and developing professionals from scratch. Not only is it effective from the cost perspective, but also from the efforts involved in carrying out everything for your recruits.
Opportunities for Excellent and Challenging Careers:
One of the most vital advantages of the BPO industry is that it offers plenty of job opportunities for aspirants. Not only does it offers excellent opportunities for starting a career, but the growth prospects in BPO industry for careers are pretty high, as well. Apart from that, the salary packages offered in the industry are exceptionally luring to young and aspiring professionals who want to take advantage of the opportunities galore in the BOP sector.
Improve operational performance:
Whatever service that you contract out, you tend to rely only on those companies that have incredible domain expertise. This helps you to get efficient services from professionals having impeccable proficiency at cheaper rates than you would have ever imagined. This is, in fact, one of the most crucial benefits of outsourcing for small businesses.
Talent shortages in countries like the U.S. and UK:
Another important aspect that necessitated the growth of outsourcing is the shortage of required talents in countries such as the UK and US. With most of their experts coming to retirement and fresh talent being at the beginning of their career, it makes the shortage of required talent with expert knowledge very acute. Outsourcing instantly addresses the issue at much more economical rates.
Overcome seasonal workflows:
In countries like UK and US, there is a seasonal lack of workers during off-seasons and holidays seasons. However, in countries like India, there is no such holiday culture, which makes the businesses have continuous call center outsourcing services support for their customer irrespective of seasonal changes.
One time applications:
There are times when businesses need to meet one-time requirements with huge requirements of manpower. Due to the very nature of such ad-hoc applications, businesses find it hard to hire the required talent, train them for a short period of time and get them to work. Tactically and strategically it is never a good move. In such situations, outsourcing such tasks is the most economic and the wisest decision that any business can make.
Industries that Leveraged the Benefits of BPO outsourcing
Hiring the support of companies offering affordable and scalable call center services has become a business strategy that has the potential to change the future of a business. As the industry is able to offer economic solutions to clients from diverse business spectrums, more businesses have come to take advantage of the same.
Following are some of the domains that take advantage of the BPO industry;
- IT and ITeS
- Software Development
- IT Staffing Services
- Infrastructure Management Services
- Helpdesk Services
- Payroll Processing
- Financial Analysis Services
- Bookkeeping and Accounting
- Call Center
- Medical Transcription Services
- Healthcare Claims Adjudication
- Tele-radiology Services
- Travel Industry
- eCommerce Industry
- Refund Processing
- Online Ordering
- Telecom Sector
- Complaint Processing
- Service Information
- Status Checking
- Education Sector
- Course Information
- Fees Processing
- Manufacturing Sector
- Help Services
- Component Information
What the Future Hold for the BPO Industry
As you can see, since there are seamless advantages of the BPO industry, the growth it has been able to garner in the last decades has been tremendous. There are reports suggesting that the future of the industry is going to be brighter than it ever was. As of now, the BPO industry is responsible for creating the second-most number of jobs in the world and the trend is only going to be better.
With state-of-the-art data management systems and analytical techniques at their disposal, international businesses are trying to get the backend support from companies offering BPO services with better quality and scope of their service offerings. As such, the importance of BPO industry in today’s increasingly competitive market is only going to become better and more crucial.
As you have now understood the benefits of hiring the support of an outsourcing company, it is the time to go and select the best people to get associated with.
Have any queries related to outsourcing? Need our assistance? Let us know! We are all ears.