Top 10 Services Provided by BPO Provider

0
173

A growing number of organizations cannot keep all business departments in-house. The investment required, including infrastructure provision, resources, onboarding, and training, can drain resources without reaping good benefits. To solve this concern, globalization has opened up new markets for opportunity. Professionals can now offer their skillset to businesses located in different geographical vicinities and this concept is known as outsourcing. Businesses can choose the services they are comfortable delegating and enter into a legally binding contract. These contracts outline service delivery, expectations, and terms of completion. With a reliable BPO services vendor at the helm, even smaller business activities can be delegated in comfort and convenience.

Top 10 Services Provided by BPO Provider

What is a BPO? 

BPO or business process outsourcing is delegating specific business processes to a third-party service provider. In addition, BPO Service provider covers additional business functions that can be technical or nontechnical in the background. 

Startups and Fortune 500 companies alike can outsource business processes. With the rise in demand, the supply becomes flooded with innovative and effective services. Businesses can employ BPOs to introduce advantages that could make them more competitive in their local markets. As opposed to moving labor from one country to another, the BPO framework revolves around letting employees work from their home state and still be able to earn and contribute to businesses around the world. 

When taking on BPO services, they broadly fall into two categories; back office and front office. Back office services include internal business processes such as billing and purchasing. Front office services involve interacting with a business’s customers. These services include marketing, CRM, and technical support. Depending on needs and ability to compensate for the services, businesses can outsource a selection of services to introduce further efficiency and optimization into their organization. 

Broadly, the BPO industry is categorized into three, depending on where the outsourced services are located. To optimize business processes, there are three categories of vendors;

Offshore – These vendors are not located in the same country as the organization, e.g., businesses from the US employing services out of India.

Nearshore: These vendors are located in neighboring countries to the organization, e.g., An American company outsourcing to Canada or Mexico. 

Onshore – These vendors operate within the same country as the business but are located in different geographical spaces, i.e., different counties or states. An example of this would be firms on the East coast of the US contracting to the West Coast. 

Services Provided by BPOs

BPO service providers offer many service options to organizations helping them bridge need gaps within their businesses. The growing number of industries employing BPO services has created a series of sub-specialties, these include;

  • Information Technology Enabled Services (ITES) BPO

These organizations offer IT-related services over the internet or data networks. ITES BPO operations are service desk analysts, IT analysts, and production support analysts. 

  • Knowledge Process Outsourcing (KPO)

KPO has changed how the market approaches business process outsourcing. A selection of KPO vendors can provide functions considered core by some and not by others. KPO firms can offer more information than process intelligence. They are also able to provide business and industry-based insight and expertise. KPO BPO includes research and analysis positions, word processing, and spreadsheet work. Moreover, KPOs enable higher-level business decision-making by simplifying low-level processing. 

  • Legal Process Outsourcing (LPO)

The LPO subset of services encompasses many services that extend from higher-tier legal processes to lower-level transcription services. For example, LPO businesses offer the ability to draft patent applications, perform legal research, and even make legally binding agreements. There are LPO firms that take on an advisory role in organizations as well. In addition, even in-house legal departments are likely to employ LPOs to handle some degree of information processing and execution work. 

  • Research Process Outsourcing (RPO)

RPO functions as a subset of KPO. Businesses can employ RPO firms to delegate research and analysis activities. In addition, RPO organizations offer in-depth research that aids in business activities, investment opportunities, biotechnology, and marketing. 

Additionally, BPO companies are likely to specialize in offering specific service types, and these can be grouped as follows;

  • Customer Interaction Services

These BPO services include any interaction with the client. Services include; voicemail, appointment scheduling, email services, marketing programs, telemarketing, payment processing, quality assurance, customer support, warranty administration, surveying, and other forms of processing or receiving customer feedback. 

  • Back Office Transactions

These BPO services enable internal operations to run smoothly. These include; payment processing (specifically check, credit, and debit cards), transportation admin, logistics and dispatching, collection, receivables, procurement (both direct and indirect), and warehouse management

  • IT and Software Operations

These BPO services are used for technical assistance. Services include; an IT helpdesk, implementation of services, and development and testing. They also offer automated alternatives to manual data entry. As a result, increasing data input and accuracy and reducing overall processing time benefit your IT and software services outside your organization. 

  • Finance and Accounting Services 

BPOs can undertake financial management services. For example, they can absorb services like billing, understanding accounts payable and receivable, general accounting, auditing, and ensuring compliance with government and industry regulations. 

  • Human Resource Services

BPO services have evolved to include the addressing of workforce concerns and challenges. For example, businesses can delegate healthcare administration, hiring, recruitment, payroll, training, insurance provision, and processing. In addition, some organizations choose to delegate retirement benefits through outsourcing. 

  • Knowledge Services

One of the most important BPO service offerings involves high-tier data processing. These services include data analytics, mining, knowledge management, and internet/web-based research. Businesses can also develop custom information governance programs and find ways to incorporate customer feedback into activities. 

Conclusion

Businesses can delegate even the smallest business activities to well-established industry professionals through BPO. The benefits include better-streamlined business processes, more accurate task completion, better insight into the activity requirements, and the ability to focus on a different set of business processes knowing the work delegated is in good hands. 

Comprehensively assess the services provided by BPOs to make the right decision for your organization based on need and ability to compensate financially.  Also, you can read about how a BPO Provider help your business to grow and succeed in your target market.

LEAVE A REPLY

Please enter your comment!
Please enter your name here