5 Key Trends for Business Process Outsourcing into 2019

One of the most important aspects of business is maintaining balance between planning for tomorrow and balancing the priorities of today. It is true that business process outsourcing can help a company drive down their costs significantly but it is important to keep costs at minimum, it is also important to ensure that business process outsourcing does not create problems in future. If outsourcing is not done right, it can end up costing the company in the longer run. Following are a few ways through which companies can ensure that BPO is beneficial for them in the coming year.

Strategy Alignment

While cost is an important measure of entering a BPO partnership, it is not the only one. While entering a BPO partnership, it is vital to ensure that the two partners share each other’s goals. Corporate strategies of two BPO partners must align in order for their partnership to be a success. The cultures of these partners should also be integrated and communication between managements should also be a priority. If two companies can master all of this, their BPO partnership is likely to be a success. Without corporate strategic alignment, it would be difficult for the partnership to work and it would definitely be a burden for the company in the longer run.

Protection of Vital Assets

One of the biggest issues of today’s corporate world is to keep company and customers’ data safe. When entering a BPO partnership, data security is also a vital component that must be looked at, in addition to cost and corporate strategic alignment. Facebook and Equfax breaches recently should teach an important lesson to companies: data security is a matter of reputation for companies. Partners that have secure systems and resources to manage them should be top on priority of companies seeking outsourcing.

Improvement in Customer Experience

BPO partnerships should complement the high standards of business instead of affecting them negatively. The key to ensure this for a company is to share their insights about their customers with their BPO partner. It would help the latter in maintaining the high standards of customer experience that the company wants. BPO partner can create processes with the help of those insights that may even improve upon customers’ experiences.

Sensible Tech Investments

While almost every company is investing in technology nowadays, it is important to make sure that these investments are done sensibly and against expectations of solid returns. Tech assistants based on AI and machine learning can provide non-stop customer support to customers without having to involve a human representative, for the basic problems. BPO partnerships can be helpful in introducing such technology into a company but at a price and pace that makes sense for the company.

Strengthen BPO Partnerships

When you have entered a BPO partnership, make sure that you stay with it and strengthen it for as long as it is beneficial for you. Sure, many challenges will arise such as cost control, technology enhancement, communication, etc. but the key is to work on these challenges with your BPO partner. In order to ensure that, choosing BPO partners that have the resources to manage this is immensely important.