BPO stands for Business Process Outsourcing. There are different types of business processes that come under BPO services – data entry, customer support, technical support, image processing, accounting, etc. Today, businesses are following the practice of outsourcing these business processes to third party service providers, some good examples being The Digital Group, Invensis, and DXC Technology, to name a few. More often than not, these BPO service providers are based in offshore locations. There is a team of experts working in the offshore site that coordinates with the in-house team to ensure clear communication and timely status updates. There are several key advantages that outsourcing BPO services can bring to a business. The following are the top 5 primary benefits.
1] Better opportunity to focus on business strategies
With the business operations being taken care of by the BPO service providers, the in-house resources have more time to dedicate towards building strategies for the growth and development of the business in different domains. This is because they no longer have to dedicate time to the processes that have been outsourced. Thus, outsourcing can really benefit organization in terms of enhancing its core business operations
2] Access to global talent
When organizations outsource BPO Services, it is often outsourced to offshore locations. This means access to global talent which can be beneficial in many ways to the business. Hence, organizations enjoy the benefit of working with a team of experts from another country across the globe. This proves to be an opportunity for exchange of ideas that ultimately benefit the business in a big way. It provides an opportunity for the in-house team to learn about new approaches to get the work done.
3] Reduced cost of operations
One of the biggest benefits of outsourcing BPO Services is the low cost of operations. In fact, the significant reduction in the cost of operations is one of the primary reasons organizations choose to outsource BPO Services to external service providers. There are several factors that affect the reduction in costs. While most believe it’s just the low cost of labour, it’s not the only factor. Leading BPO service providers use approaches like Six Sigma to provide the highest Quality Services at a reduced cost.
4] Increased efficiency and quality
Last but not the least, increased efficiency and high quality is one of the biggest advantages of outsourced BPO Services. This is because the dedicated BPO team is better equipped to handle the project in a way that helps them achieve the most in the least amount of time. After all, they already have the experience of working on similar projects with other clients in the past, which has given them ample experience. Also, the team is highly skilled which results in high quality of work.
5] No requirement for in-house team
Sometimes, organizations require a team to work for a few months or years only, on a project that is seasonal or for a specific duration. In such a scenario, hiring a team of experts makes little sense as it results in unnecessary expenditure on training of the resources. Outsourcing the work proves to be the best decision in this scenario, as it works best for the company in terms of costs involved. The company gets the freedom to hire an offshore team to do the work as and when required, without any hassles involved.
So, they were quite a few advantages of outsourcing BPO Services. No wonder, organizations across the globe are Outsourcing their BPO Services, mostly to Offshore locations