Business Process Outsourcing by Helpware services (BPO), which include candidate screening, payroll processing and data entry, are great ways to scale a business efficiently. BPO outsourcing allows you to focus on core competencies and grow into new markets without breaking the bank. In addition to reducing costs, tech support outsourcing also increases productivity, allowing leaders to spend more time growing the business instead of managing to recruit.
Since everyone seems to be implementing the business process outsourcing model, it’s only natural to be curious about the hype. This guide will walk you through everything you need about BPO project outsourcing so that you’re all ready for success!
What is the BPO Model?
Business process outsourcing is an effective strategy for leveraging expertise within a company by shifting tasks and responsibilities toward a third party. A BPO organization can help organizations increase efficiency through cost savings and increased productivity. They also offer quality services such as customer support, data entry, research, project management, marketing and sales. These services enable businesses to meet their goals while reducing costs and increasing revenues.
Types of BPO Companies
While BPO models are typically categorized based on the type of services they provide, they can also be put into neat categories based on geographic location. A few types of BPO companies include:
Commonly referred to as local outsourcing, onshore outsourcers operate in your business’s same location. This kind of outsourcing usually costs more, but its advantages include a better fit for culture and language.
Nearshore outsourcing is an option if you’re trying to reduce costs. If your company wants to expand internationally, however, this strategy won’t work because it requires workers who speak the native language. For example, if you were located in Canada and wanted to outsource work to Mexico, you could do so, but you’d have to hire Mexican employees.
Offshoring is often the first type discussed when considering offshore BPO options. The benefits include lower costs, greater time zones, and broader language availability, but they also come with the increased complexity of communications and higher security needs.
Advantages of Business Process Outsourcing
1. Cost Efficiency
One of the greatest advantages of BPO is cost efficiency. Offshore and nearshore companies have hired talented employees at a lower cost. Tasks such as content moderation, IT help and customer support have high repeatability; however, they still require a human touch.
2. Longer Hours
Businesses require around-the-clock services that cater to customer queries from all corners of the world. Having BPO providers based in countries that have varying time zones as yours can have significant value.
BPO providers offer great flexibility and scalability and can cater to different busy seasons or unforeseeable spikes in demand.