Business process outsourcing (BPO) is a valuable strategy for organisations looking to achieve high performance by controlling costs, reducing risk, fostering collaboration, increasing transparency or growing their businesses.
BPO is typically categorized into back office outsourcing, which includes internal business functions such as human resources or finance and accounting, and front office outsourcing, which includes customer-related services such as contact centre services.
It’s no secret that outsourcing has changed the way many organizations work. Over the next two years, 72 percent of companies worldwide plan to increase their reliance on outsourcing to some degree. Already, 96 percent are outsourcing some element of their back-office and other basic operations.
Ensuring the correct mix of structure, people, performance and technology will result in the optimum balance of an effective and efficient global organisation.
Most of these transactions represented a “lift and shift” business process outsourcing strategy whereby current processes were moved from a high costs to a low costs geography but little or no business transformation either preceded or followed the process transition. Next wave of BPO transactions will encompass both “transform and shift” and “shift and transform” business process outsourcing strategies. This expected change in sourcing strategy will have a profound impact on how strategic sourcing strategies are formulated and executed.
Benefits of BPO
(1) Increase a company’s flexibility by transforming fixed into variable costs. A variable cost structure helps a company responding to changes in required capacity and does not require a company to invest in assets, thereby making the company more flexible.
(2) A company is able to focus on its core competencies, without being burdened by the demands of bureaucratic restraints. Key employees are herewith released from performing non-core or administrative processes and can invest more time and energy in building the firm’s core businesses. The key lies in knowing which of the main value drivers to focus on – customer intimacy, product leadership, or operational excellence. Focusing more on one of these drivers may help a company create a competitive edge.
(3) A company can maintain growth goals while avoiding standard business bottlenecks. BPO therefore allows firms to retain their entrepreneurial speed and agility, which they would otherwise sacrifice in order to become efficient as they expanded. It avoids a premature internal transition from its informal entrepreneurial phase to a more bureaucratic mode of operation.
(4) A company may be able to grow at a faster pace as it will be less constrained by large capital expenditures for people or equipment that may take years to amortize, may become outdated or turn out to be a poor match for the company over time.
We have the breadth and depth of experience to bring meaningful insights to your business by free you from the most labour intensive parts in the first place.
- Data Processing Services: Data entry from Paper/Books with highest accuracy and quick TAT
- Data entry from Image file in any format
- Business Transaction Data entry like sales, purchase, payroll, receipts and bills.
- Data entry or conversion of E-Books
- Internet / Online / Web Research, Internet Search, Product Research & Market Research, Survey, Analysis, Web and Mailing list research etc.
Please contact us today for your BPO requirements.