Business Process Outsourcing (BPO) is an effective way to reach and maintain
profitability. Let’s start by taking a closer look at the BPO concept. BPO is a proven way
to outsource various operational processes in your company, such as lead generation,
to external partners such as Prosperio.
Understanding Business Process Outsourcing (BPO)
No matter if you are a startup, SMB/SME, or a large corporation, outsourcing enables
you to adapt to an ever-changing, highly competitive business climate within budget
limitations. Companies of all sizes have a BPO strategy in place for their core business
operations such as sales, accounting, payment processing, human resources,
regulatory compliance, and quality assurance. Why? Well, it’s more cost-effective to
enlist outside professionals to ensure that the various business departments run
smoothly. Hiring qualified specialists in the field of e.g., sales, is tedious, expensive, and
risky.
BPO is also a great option for companies that work internationally. The “think global, act
local” strategy works best when enlisting the services of local professionals who know
how to get the best results for your company in that specific market.
The Attraction of Business Process Outsourcing (BPO)
Companies of all sizes embrace BPO since it allows for greater operational flexibility.
This is especially useful for startups and companies operating in a dynamic ecosystem.
Outsourcing operational functions allow companies to reallocate their precious time and
resources to core competencies such as fundraising, M&As, and forging strategic
partnerships that are not only crucial for the long-term success of the company, but also
for setting it apart from its competitors in the industry.
What to pay attention to when hiring a BPO company
- Compliance. With the rigid regulatory compliance demands of e.g., GDPR, you
have to double-check how a potential security breach will be handled by your
BPO partner since it has to share and process sensitive data. Your CISO or
cybersecurity department will know what question to ask of your BPO company
so you will remain compliant. - Dependency. Some companies worry that they will become dependent on
outsiders when they outsource operational processes to a professional company
such as Prosperio. This concern is absolutely understandable, but unfounded. As
the outsourcing company, you have the same (if not more) control of the way the
outsourced staff works compared to your employees. Also, once you are
dissatisfied with an outsourced professional, you can ask for a replacement
without the hassle of firing as would be the case with an employee. - Communications. One worry that we often hear, is that it is easier to
communicate with an employee than with an outsourced asset. We believe that
the opposite is true. An employee wants to stay with the company no matter
what, while the outsourced professional just want to do the best job possible
without any hidden agenda, motives, or office politics. - Hidden Costs. Some companies start a project expected it to be an X amount of
hours that quickly turned into a Y amount of hours that were not budgeted.
Needless to say, this underestimation of the quantity of work is frustrating for all
parties involved. While companies can pile more and more work on employees,
outsourced staff operates within firmly set boundaries. In the end, this benefits
the company, since it prevents burnout and ensures that staff is operating at
optimal proficiency.
Interested to learn more? Want to explore what BPO can do for your company?
Contact us at Prosperio.io now! Call us at + 1 800 755 60 20 or send an email to info@prosperio.io
