BPO stands for business process outsourcing and it’s just what you might think. It’s the process of hiring third-party companies to handle the non-productive tasks for your company, which don’t require specific knowledge of your business operations. The reason BPO services are growing in popularity is that it allows businesses of any size to operate more efficiently, allowing them to grow without having to rely on hiring more personnel.
Additionally, the business’ employees can be reassigned to tasks that are directly related to the productivity of the company. While some tasks are essential to the operation of the business, they may not directly influence the business’ bottom line. Letting outside BPO services handle those duties frees up employees to concentrate on tasks more directly related to the company’s business.
Why is BPO More Cost-Effective?
Typically, your business will pay less to an outsourced company than it would cost you to hire and employ professionals trained to do the same work. First, there are the resources it costs to hire qualified individuals, which includes advertising the opening and taking the time to interview candidates. Once you hire the individual, you will be paying an additional salary, as well as benefits. This is significantly more expensive than the cost of the fee to be paid to BPO services.
Additionally, third-party companies specialize in a specific set of skills. This means they hire the top talented individuals in those fields to ensure every client is provided with the highest quality of service. In many instances, this means you’ll receive better service than your own employees would likely provide. The third-party company may also supply their employees with the latest technologies and advanced training to help ensure your satisfaction.
While there is an abundance of BPO companies to choose from, some of the most commonly provided services include:
- Customer service
- Digital marketing
- Software and IT services
- HR support
By utilizing third-party companies, you can also eliminate the stress and frustration of having these tasks performed. Once you hire a company to handle these business processes, you can trust that those companies will take control of handling your needs. This means you’re free to concentrate on the more critical areas of running your business.