What you should look for in an outsourcing company?
So you’ve noticed everyone else is outsourcing, and for good reason. The business process outsourcing industry is projected to grow by 11% in Compound Annual Growth Rate by 2023 – an estimated 52 billion dollars!
You’ve jumped the bandwagon, but you could still be largely in the dark. How do you make sure you’re doing it right? The main reason a company chooses to outsource is to cut costs while retaining or increasing quality of work. For that ship to sail smoothly, there are a few considerations every business leader must ponder first, before signing a deal. Here is a checklist to keep in mind as you decide on your BPO partner, to make the most of your collaboration.
This one is obvious. You want a company with a global reach, well-trained staff, competence in your preferred area, and, especially for customer solutions, linguistic capabilities in your target language. Sometimes, entire regions might outperform others in the last regard. Kosovo, for example, is known for its youthful population (half under the age of 25) and well-pronounced, unaccented English and German.
Managers might hesitate to outsource due to lack of trust. According to a survey from the National Outsourcing Association, a top worry for managers regarding BPO is data protection. They are right to be concerned. It is vital that you outsource to a company with mechanisms in place which maximize data protection and privacy. ISO certifications, such as ISO/IEC 27001:2013, are the bare minimum for protecting IT and non-IT information assets, in such data- and tech-driven work environments.
Business leaders must stay mindful of expenses, and have clear plans in mind for their future financial state of affairs, as well as thorough understanding of their current situation. Naturally, the main reason business leaders engage in BPO is to cut costs. With that in mind, one should give proper consideration to one’s finances, and find a partner who offers competitive pricing, in order to truly benefit from outsourcing. Businesses working with Sonnecto, for example, land an impressive 70% cost reduction in their outsourced business processes.
Good track record.
A bit of prejudice might be called for in business: you want to check the background and current work of the company you aim to collaborate with. You want a company with a good track record and high employee retention: basically, a thriving business. Most companies are quick to share data about success in their work, so going through the website might be enough to get the figures you need to compare and make your ultimate decision! Besides performance metrics, be on the lookout for quality management, such as ISO 9001:2015.
Another crucial factor is that you may lack the tools and equipment necessary to stay competitive in your industry. Besides the obvious benefit of reaping expert knowledge from dedicated outsourced teams, these BPO companies also sport the latest technologies and infrastructures to ensure smooth workflow, and fewer expenses and headaches for you. It is important to choose the right company with the right assets and infrastructure to support the kind of growth you’re looking for.
Another no-brainer: the company culture. No matter how bright and shiny the initial meeting, if you catch something less than ideal in the way employees interact with one-another and the way higher-ups talk to others within the company, keep in mind that soon that might become the way they talk to you, your team, or, catastrophically, your customers.
Outsourcing, when done right, can grow and transform your business. Don’t let rookie mistakes prevent you from gaining the most out of BPO.