Business Process Outsourcing (BPO) used to be considered a purely cost-saving strategy, as it was not always easy to implement the newest Best Practices and technology in outsourcing situations where contracts were inflexible and unresponsive to innovations that could increase efficiency. But the best businesses have found that BPO can and should be aligned with innovation in the face of changing business climates, and form part of growth strategies.
BPO and innovation increasingly go hand-in-hand, as companies look for ways to use BPO to increase margins, shorten time to the market, reduce risk, improve sales and increase customer satisfaction. Time has shown that BPO can be integrated with in-house business processes in IT or cloud strategies to streamline processes and agility. But there is still much room for growth, and companies would be wise to take advantage of the opportunities that BPO present.
BPO As a Driving Analytical Force
BPO representatives handle a great amount of data on transactions, sales, processing and customers. Ideally, BPO providers make use of this to conduct data analysis to determine key process indicators (KPIs) and monitor and measure for shortcomings, flaws and inefficiencies in the processes. What’s more, BPOs can even make use of predictive models that run on the data that handlers accumulate over time. Having access to the analytics generated by this process will help decision-makers optimize all of their resources. Predictive modeling can also be useful in tracking and predicting fraudulent behavior.
Robotic Process Automation to Increase Value
Nothing maximizes efficiency like robotic processes automation (RPA) A RPA mimics the computer-based tasks that employees typically complete, and then replicates them at a much faster rate, for a longer period of time. By automating tasks (even complex ones), BPOs can focus on actually adding value to the company, instead of simply lowering costs.
Teleperformance provides end-to-end solutions based on deep, industry-specific knowledge for its clients, and boasts a portfolio that includes multichannel operations supported by multiple back-office products. In today’s global economy, companies that embrace the opportunities that BPOs present will not only lower costs, but will also find themselves ahead of the competition.
To read more about our multichannel solutions and back-office products, please read the full report, click here and download the White Paper.