Outsourcing non-core business functions to a BPO company is an incredibly popular strategy throughout the world. Worth $92.5 billion, the industry specializes in taking care of necessary, but time-consuming and repetitive tasks (such as customer support or payroll) so organizations can focus on their own operations.
If you’re considering handing over supplementary tasks to a business process outsourcing company, here are 10 ways this move will free up valuable time you can then spend improving and growing your organization.
1. Saves money
In a similar way that a managed staffing/ service provider helps you cut down on costs, a BPO company also saves you money. By outsourcing, you don’t have to pay to hire, train or maintain an inhouse team or provide a physical space for them. Plus, many BPO firms offer fee-for-service plans, instead of fixed-price contracts you have to pay when employing staff.
2. Saves time
A specialist BPO team can complete tasks much faster and more efficiently than most in house departments, all while increasing capacity and improving accuracy. This frees up internal staff to dedicate their hours to more important tasks that can better benefit the business.
3. Lets you focus on your business goals
By handing off small, repetitive yet necessary tasks to a BPO business, you can focus more on the key functions of your firm. For example, instead of monitoring how accurate or productive your data entry team is, you can outsource data entry to a BPO organization and concentrate on maximizing your company’s growth.
4. Access to industry experts
Just like using an MSP for DevOps gives you access to excellent DevOps engineers, outsourcing tasks to a BPO company will provide you with specialists who are highly trained in the field you’re interested in. These experts use tried and tested methods to get the job done as efficiently as possible.
5. Benefit from the latest tech and software
To stay competitive, BPO companies always have access to the most up-to-date technology and software needed to do a great job. These essential tools are often too expensive for most businesses to invest in them. But by outsourcing, you can take advantage of their benefits without paying for them directly.
6. Complete tasks more efficiently
By leaving supplementary tasks in the hands of experts with superior technology, a BPO organization is able to complete projects much more efficiently and to a higher standard than is possible inhouse. This gives your business better results in less time, boosting efficiency.
7. Have a global presence
With an inhouse team, you can only provide your services and customer support during a short timeframe. But when you outsource these tasks to a BPO firm, you can provide them around the clock in multiple languages. This is a major advantage when trying to expand internationally.
8. Creates flexibility
Outsourcing non-core services to a BPO business provides you with the flexibility to act efficiently and quickly to sudden changes in the market, while evaluating the risks of new products and services. This strategy also permits you to reassign inhouse resources to more crucial functions, allowing for greater productivity and efficiency.
BPO companies allow you to scale up or down whenever you need to without any serious commitments. Unlike hiring a team of permanent employees when expanding, outsourcing means you can test the water and scale back should things not go to plan.
10. Compete with major companies
One of the greatest advantages of working with a BPO firm is that it allows you to compete with industry-leading companies much larger than your own. By providing you with experts, the latest tech, scalability opportunities and a global presence, BPO organizations let SMBs run as if they were giant corporations, all without the significant overhead of employee costs.
A BPO company will help you get ahead
The BPO industry has experienced major growth over the years and the trend is expected to carry on into the future. Start outsourcing simple, time-consuming tasks today to get ahead of your competition tomorrow. By freeing up your time, resources and budget through outsourcing, you can put all your attention on growing your business and meeting your targets.