3 Crucial Questions You Should Ask Your Contract Processing Provider

Contract processing requires that you exercise due diligence and keep a keen eye on your mortgage loans, legal contracts, payroll negotiations, and more. 

All these tasks are necessary, but they can also be time-consuming and draining to your resources — not to mention the pressure involved in the process management.

By outsourcing, you can ease some of the burdens off your business that contract management and processing can bring. 

Before you start outsourcing, though, you’ll need to ask the right questions to know the kind of services you can get – such as data gathering, pricing and other tasks involved in the process.      

To help you do just that, here are three crucial questions you need to ask your contract processing provider. 

Question 1. How can you improve my process productivity? 

Outsourcing your contract processing can help improve the efficiency and productivity of your contract processing.

The question you need to ask, however, is how?

By asking your provider about things like how the contractor handles overflow during high-volume seasons, you can find out how BPOs can help you achieve results faster. 

You can also inquire about the technology, experts your outsourcing provider works with, and more to give you a better idea of how your provider can improve your process productivity. 

This way, you get some insights on whether or not the services your contract processing provider can supply match the needs of your business.     

Question 2. How are your services beneficial to my business?

The benefits of working with a third-party provider for your contract processing should be clear to you and your outsourcing partner. 

This means you’ll need to be specific with the service and quality of the results that you expect for your process and business as a whole.

When formulating the questions you want to ask regarding the benefits that your contractor can provide, consider these points.

• The in-depth expertise that your outsourcing provider can apply to your contract processing
• The availability of tools and technologies that your provider uses to handle large volumes of information, data gathering, and processing for your task
• The strategies that your contractor uses to reduce client turnover. 

Understanding the benefits that a third-party provider can give helps you make better decisions and decide on the right outsourcing partner to work with for your contract processing needs.

Question 3. What are the advantages in terms of pricing?

There are several BPO companies that you can work with, but the pricing for outsourcing your contract processing will vary — depending on each provider.

The key is to check out the benefits that your outsourcing partner can provide and assess whether or not they’re worth investing in.

Ask for a quote from your outsourcing partner, and you can use that to conduct a cost analysis. 

Let’s say your outsourcing provider offers lower labor costs and uses automation tools to streamline your contract processing tasks.

This could mean that by outsourcing, you get the high-quality results your business requires faster and at a fraction of the costs when your internal team handles the process.  

Final Thoughts

By working with the right outsourcing provider, running your contract processing will be more efficient, productive, and cost-beneficial (among other things).   

If you’re looking for an outsourcing partner with the expertise and excellent services to handle your contract processing tasks, reach out to us today, and we’ll discuss our competitive pricing.