BPO – What is it All About?
You may have heard the term BPO and wondered what exactly it means.
BPO stands for Business Process Outsourcing and it occurs when one company hires another company to perform some function of their business. One business will contract the operations and responsibilities of a specific business functions processes to a third-party.
For instance, if you run a stained glass company and your staff is overwhelmed with phone orders you may consider finding a third party to answer the phone and take the sales orders for you. So you have just outsourced one business process, the taking of the phone order.
BPO has different names depending on what type of function is being outsourced. Back office BPO would include functions like accounting, record keeping, trade settlements.
BPO was first used in manufacturing but has quickly spread to be a vastly popular and growing part of the U.S. Economy.
Companies have found that when are able to outsource a business function it leaves them to focus on the parts of their business that they are most likely to be good at.
Some business outsourcing has now moved to counties outside of the United States. This is known as offshore outsourcing. India and the Philippines are popular destinations for BPO since both of these offshore nations have huge populations of English speaking citizens and generally have a lower cost of living than that in the United States.
Benefits of Working with a BPO
Now that you have a better grasp of what BPOs are and the role they play in a company, let’s look into how companies can benefit from working with BPOs.
1. Skyrocket Your Sales
Let’s face it: It takes more than having ample amount of product knowledge to convince your audience to start taking out their wallets and start purchasing your products.
It takes technique, grit, and a deeper understanding of sales and consumer psychology — elements that business owners sometimes do not possess.
The people who do possess these characteristics are those who do outbound sales for a living — those make phone calls every single day selling products — the sales specialists.
Business Process Outsourcing companies are flooded with seasoned sales specialists since we make it our business to find exceptional talent.
When companies work with BPOs, they gain access to these professionals, helping them sell their services effectively.
2. Reduce Operational Costs
Working with BPOs can help companies with cost reduction.
Instead of having to procure expensive equipment, spending a hefty sum to look for skilled professionals, and investing in training (among other things), businesses can work with established BPOs who have all of these components in place.
Not only can businesses get access to top grade equipment (and manpower) — without having to purchase them, at that — but they can also avoid the hassle of having to set everything from the ground up.
3. Provide World-Class Customer Support
Providing exceptional customer support should be one of the top priorities of a company regardless of its size.
With how interconnected the world has become due to the internet, it has now become easier to ruin (or establish) a brand’s reputation.
In fact, a single disgruntled customer that’s ranting on popular social media sites about how poorly they were treated by a company can cause monumental problems for the brand in question — if the situation isn’t addressed accordingly.
When you have a reliable BPO that’s working with you, however, you’ll have a team of seasoned customer service professionals working with you to de-escalate your customers’ problems before their issue becomes a real threat to your company.
It’s worth mentioning that providing top notch customer support goes beyond merely answering questions or processing requests.
The intricacies of having to say “no” to a customer without offending them and influencing them to accept a solution that’s different (even contrary) from what they expected, require a specific set of talents and skills — something that not many people have, and a BPO has in abundance.
4. Increased Productivity
Instead of you (or your team) worrying about who will take the time to help your customers with their questions or concerns about your products or services — which often takes countless hours — you can forget about the problem altogether when working with a BPO provider.
Not only will your BPO provider help you all of the tasks that you’ll outsource to them, but they’ll do the job excellently.
This means you’ll have the piece of mind knowing that your business is in good hands and that you now have the time you need to expand your business.
Are you looking for a reliable BPO provider with a proven track record of producing exceptional work? If you answered with a “yes,” then reach out to us now.
These are some of the services we offer:
- Data Entry Services
- Outsourced E-Filing
- Data Mining
- Claims Filing
- Claims Submission
- Contract Processing
- Technical Support
- Customer Support
For more inquiries about our services, you can call us at 1-888-700-9555 or get a free quote.