BPO (Business Process Outsourcing) companies have evolved, expanded and improved over the past several years; providing the freedom for both SMBs and global enterprises to further business development. How is this done, though?
Today we will take a deep dive into the world of outsourcing – and in particular – BPO companies and their advantages. We will discuss the ways in which BPO companies operate, and why it is that more and more businesses rely on their services to carry out integral tasks and manage various departments/areas.
What Is BPO?
Business Process Outsourcing is the practice of enlisting third-party contractors to carry out tasks that are critical to the overall functioning of an enterprise. Any operation can immensely benefit from incorporating outsourcing into their business model, and BPO companies like Anexa are industry leaders in this increasingly popular field, thanks to their vast resources and cost-effective solutions, among many other advantages.
What Tasks Fall Under the BPO Umbrella?
There are an abundance of responsibilities that are commissioned to outsourced workers or companies. Most commonly, these responsibilities fall within departments such as customer service (call centers, social media and online support), marketing/telemarketing, data entry and collections. Each of these areas are vital to business maintenance and growth. Whether back-office or customer-facing, they all serve to expand and propel a company into new markets, customer groups and stages of success.
A Breakdown of Each Area
Customer Service is one of the most essential departments in running a business, and very much responsible for its success or failure in the long term. The main goal when building a robust and well-rounded customer support strategy is longevity, i.e., customer loyalty and brand advocacy. This is achieved via large, experienced teams that are easily accessible and/or available to your valued customers – both existing and potential.
Though it is widely accepted that customer retention is the key to success, new and potential customers must be treated with the same care and commitment as your existing ones. If not, loyalty will be difficult to earn, hence a lack of long-term or “retained” clients.
BPO (outsourcing) companies are recognized as experts in the customer service arena, providing assistance in the form of call centers as well as email, social media and online support. This allows businesses to focus their energy on core development and creative aspects, knowing that this extremely important area is being managed by experienced professionals like our customer service agents at Anexa. Exceptional standard of care is something that we pride ourselves on, particularly where customer-facing services are concerned.
For more information on customer service and the connection to BPO, browse one of our many blogs on this topic.
Telemarketing is one of the most underrated forms of customer outreach. It is often misunderstood by business owners who assume this practice is outdated, when in fact, the opposite is true. Telemarketing is as relevant and effective a marketing tool as ever, reaching new and existing customers to help promote your products and services. Its advantage lies in its ability to create true connections with consumers – one-on-one – and meet them where they are.
Not only does telemarketing have the ability to expand your customer base by fostering genuine and lasting relationships, but it allows you to acquire valuable data which you may then apply to your business model. In turn, this effectively fast-tracks the evolution of your products/services and encourages innovation – simply put, consumer knowledge is invaluable.
Reputable BPO companies house skilled telemarketing agents at the ready who are more than capable of paving the path to reaching your business’ full potential.
Visit one of our several blogs on telemarketing for a full picture of its use and benefits.
It is definitely worth noting that with both Customer Service and Telemarketing, there is a crucial piece that makes for an exceedingly more successful enterprise – that piece is providing multilingual service. Offering both Customer Support and Telemarketing in Spanish reaps immeasurable rewards for your business when looking at customer-centric services as a whole – this is a fact that should never be overlooked.
Data Entry is sometimes overlooked as an insignificant cog in the machine – whether it be a small, medium or large-sized enterprise. Though data entry can be tedious, repetitive and mistakenly present as a low-skill job, the reality is quite the contrary. Individuals who are solicited to carry out data entry must be extensively trained, as this position demands precision, accuracy and impeccable attention to detail. It also requires high-level typing capabilities as well as time-efficient workmanship. By no means is any of this “low skill”.
Not only is data entry utilized for inputting and storing vital company information, but it maintains and organizes data in the most efficient way to avoid wasted time and potential roadblocks for your business, its customers and employees.
For an overview of data entry, head to one of our blogs on this topic.
Collections is an obvious necessity in running and maintaining a business. Without debt collection services, many businesses would undoubtedly flounder – this is why a team of collections specialists is a vital component in your overall operation.
Collections is a sensitive area, involving strategic communication and negotiation tactics to reach a practical and mutually beneficial resolution.
As previously mentioned, client relationships are extremely important. The ability to provide a positive experience even in the most difficult of situations is, without question, an enormously powerful tool in maintaining those delicate relationships, and ultimately expanding your customer reach via positive reviews and brand advocacy. It is for this reason that many businesses rely on trusted experts in this area to manage their collections.
BPO (outsourcing) companies are naturally the most popular choice when managing any of the aforementioned tasks or departments. There are many reasons for this, but before we get into that, we should discuss alternate options when it comes to handling various areas of your business operation.
As its name suggests, these are individuals as opposed to teams, hired one by one for certain responsibilities. While very small businesses might find this option appealing, it can become overwhelmingly unrealistic depending on the volume of responsibilities and duties, customers and areas requiring support. You might find that this route forces you to hire multiple contractors, spend more money – and onboarding time – all in the interest of keeping your business’ wheels turning. This is why many businesses have converted to entrusting certain processes to a well-equipped company.
There are some undeniable advantages to hiring teams in-house – for example, the ability to manage your team directly and play a central role in the onboarding process. Unfortunately, this also happens to be its greatest downfall.
Onboarding costs for in-house teams are anything but cheap, meaning far less money is allotted for other vital elements of running your business. It also means more micromanaging, which can be, in some circumstances, detrimental to business development and productivity.
Visit our blog which details telemarketing, and the pros and cons of in-house teams.
Dedicated outsourcing companies cover a range of areas for a fraction of the price that one would inevitably incur by developing various teams or departments in-house, or alternatively, recruiting individual freelance contractors.
BPO companies have infinite resources – from vast and extensively trained teams and up-to-date technology, to fully developed, proven business growth tactics. There are no cutting corners or sacrifices on quality. And regardless of your budget or production size, there are solutions available to you that guarantee to meet your immediate and long-term needs.
If you’re interested in understanding how BPO can drive your SMB, large enterprise or anything in between, contact us to learn more.