Business process outsourcing (BPO) has served as the backbone of the American manufacturing industry since the late 1800s. Modern developments in business practices have encouraged a range of industries. Information technology, financial services, healthcare, retail and education have all embraced contracting professional service providers.
The $135 billion outsourcing industry consists of dozens of services, such as overseeing general front-office tasks, staffing customer engagement channels or managing specialized tasks. BPO partners might direct customer call center operations, support data entry, process payments or troubleshoot common problems so that in-house employees can focus on core business activities.
High-performing companies choose to integrate a BPO plan into their business operations to push sales higher, nurture deeper customer satisfaction and strengthen employee engagement and productivity. With the right BPO partner, you will achieve these three benefits:
1. Cut Operational Costs
BPO firms assume the overhead costs associated with staffing, upgrading equipment and building maintenance. This relieves your burden for large capital expenditures. It also frees up working capital to focus on strengthening your company’s core competencies.
2. Provide Customer Journey Consistency
A BPO provider who is an expert in your industry and has the tools to manage all your customer interaction channels, including phone, live chat, email and social media, will help you maximize savings and create a seamless customer experience that fosters brand loyalty.
3. Develop a Well-Trained Workforce
Business process outsourcing allows you to fill in knowledge and skills gaps in your organization. An effective BPO firm also focuses on recruiting and training a results-driven team that is reliable and engaging. Working as partners, your BPO provider will develop personalized, detailed guidelines, training materials and quality assurance processes for their employees to ensure that your company’s goals are being met.