07 Jun Beyond Cost Savings: Leveraging Business Process Outsourcing as a Strategic Business Decision
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Companies need help attracting new clients and keeping existing ones in today’s viciously competitive business environment. Competitors must use strategies focused on providing value-added goods or services and maintaining competitive pricing to stay ahead of the market. However, to save costs and increase income, both approaches necessitate streamlined and specialized procedures, the investigation of new markets with strong currencies, and keen attention to improving the customer experience.
Striking for cost savings is an essential component of optimizing processes. Companies may eliminate waste, reduce inefficiencies, and realize economies of scale by putting standardized methods into place. As a result, they can boost profitability, reduce production costs, and maintain their competitive advantage.
However, client acquisition and retention strategies go beyond the availability and cost of goods and services. The quality of the customer experience is crucial in promoting loyalty and long-lasting partnerships. Companies must prioritize individualized interactions, prompt and effective service delivery, and ongoing involvement if they want to improve the customer experience. Recognizing this, businesses across industries increasingly turn to Business Process Outsourcing (BPO) to achieve these goals.
Therefore, using BPO is becoming necessary in all industries. These are some of the most compelling reasons to consider BPO as a strategic decision for your company:
• To decrease costs1: Depending on the BPO company location, it´s possible to use the currency to save money, paying for a complete service that is cheaper than hiring and managing staff by itself.
• Concentration on core business1: By outsourcing some processes, the company can focus on its expertise area, assuring other functions are also working.
• Maximizing efficiencies in non-core functions1: BPOs are experts in optimizing and standardizing client processes. A standardized and massive process will guarantee maximum efficiency and success.
• To expand a local brand1: BPOs can offer 24/7 services. This is an essential tool to consider new markets in any time zone with 100% coverage.
• Improve quality3: BPOs understand that quality is a must in the business; that´s why they are taking care of the process and the response time, linking this with Customer experience.
• Customer retention2: Customer experience plays a critical role. A satisfied customer is equal to revenue retention and better representation in the market.
Choosing BPO as a strategic decision means recognizing its integral role in competitive companies. It goes beyond being a service provider; it becomes an alignment of strategic objectives. The benefits are clear: lower costs, increased revenue generation, and a lighter workload with fewer processes to manage.
If you want to learn more about improving your business operations and customer experience, please get in touch with us at Center Source.
Center Source is a leading Business Process Outsourcer that provides top-notch customer support and global help desk services to a diverse range of international brands. Founded and owned by Mike Biedronski, who has over 25 years of experience in outsourcing and customer service, the company is led by CEO Frank Royal, who also boasts over 25 years of experience in BPO and customer service. In addition, our senior leadership team, with an average of 15 to 20 years of experience in customer service, comprises seasoned professionals who are experts in their respective fields.
We offer Omni Channel Support for our customers, including voice, chat, email, SMS, social media, and outbound services. We provide exceptional customer support, and our team of experienced professionals is trained to handle all customer inquiries tactfully and professionally. The customer experience is critical to the success of any business, and we strive to provide the highest level of service possible.
Julio Vidal, Business Intelligence Analyst
June 7, 2023
References
1.Du, J. D., & Miao, L. (2022). Business Process Outsourcing (BPO): Current and Future Trends. International Research in Economics and Finance, 6(3), 9.
2.Labach, E. J. (2010). Improving customer retention through service quality at call centers. International Journal of Management & Information Systems (IJMIS), 14(3).
3.Relph, A., & Parker, D. (2014). Outsourcing: A strategic risk. Management Services, 58(3), 20-24.