More and more quality and cost-conscious businesses across the world are going to places such as the Philippines, and India for outsourcing non-core business processes. Today, the outsourcing industry is worth more than $6 trillion and the growth prospects are tremendous. Despite the various challenges facing the industry, behind its success is the large number of English-speaking individuals available at low costs.
So, what are the advantages of an offshore partner doing your work for you? Here we are listing some of the major benefits of business process outsourcing services (BPO):
- Skilled manpower:
When you hire the services of an offshore partner, you will no longer need to invest in recruiting and training expensive resources. Your outsourcing partner will take care of your needs with their pool of highly skilled manpower. The resources employed by most outsourcing services are highly qualified in the respective business areas and are experienced in handling the needs of companies who wish to outsource.
- Faster services:
One of the biggest benefits of BPOs is that they reduce the lead time to carry out the processes outsourced to them. They are often quick to respond to emergencies, letting clients focus on core activities. This fragmentation of activities speed up the entire process which is vital for customer service. As a result, your ideas are converted into products quickly and you will be able to deliver more value.
- Cost benefit:
The most clear and evident benefit relates to cost savings that offshoring services offer. As a result of the significant difference in salaries between Asia and western countries, the same work carried out over there can be carried out in India at a fraction of the cost. Companies can save up to 60% by outsourcing their work to India. Also, the quality of services offered is high thus ensuring that low-cost does not lead to low-quality.
Outsourcing non-core activities lets a company to be more flexible. First of all, the company does not have to invest in any fixed assets. They will also be able to increase flexibility in resource management and adapt to changes in the environment quickly. It also get rid of the need for any investment in infrastructure as your partner will take the responsibility of developing infrastructure for the same.
- Time zone advantage:
In addition to the benefits mentioned above, companies can gain from the time zone variance between countries. You can get your work done while you are closed and wake up to your service being delivered the next day. This unique feature gives you the benefit of 24/7 business operations.
- Get access to the latest technologies:
Buying a licensed version of the latest can be expensive. For small and medium-sized businesses it is impossible to dedicate a fixed budget to purchase the latest software. Outsourcing to companies that have the technology and the relevant expertise proves to be more beneficial for global organizations.
- Great source of getting customer feedback:
Most BPO employees are directly in touch with customers, so they often get a first-hand feedback on their services and products. This valuable feedback will help the company to improve upon the services provided.
- Great employment opportunity:
In most nations in Asia, the business process management industry is one of the biggest job providers. It is ranked second when you consider the number of jobs created among Asian nations. The wages offered is also one of the best, leading many youngsters to work in BPO companies. The BPO industry has single-handedly transformed the GDP of many small nations.
Outsourcing the tasks mentioned above offer companies the flexibility to adjust to competition and any changes made in regulatory compliance. This makes adjusting to changing market conditions easier. While “outsourcing” is routine in the world of business, it is hard to overlook the benefits offered.
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