From a $7 million industry in 2006 to $120 billion industry in 2018, BPO sector comes out to be one of the booming sectors both on domestic and international fronts. Outsourcing of business operations is highly in demand. Both small and big companies are highly dependent on outsourcing Business Processes. Let’s carefully look at some of the key privileges for outsourcing BPO processes:
Reduction in expenses
BPO is a sector wherein you will find a large number of employees made available at comparatively lower wages. Especially, if you look at Asian countries like India and China you will get a large workforce at comparatively low rates.
A pool of experienced professionals
You will get access to a pool of proficient professionals when you go for outsourcing your business processes. Also, a lot of your resources are saved which would have been used into the recruitment process.
Streamlining business operations
Outsourcing business processes such as financial, healthcare or call center services can definitely come to your aid. As this will save time for you to focus completely on your core business.
Know what your customers feel
Through call center services, you can easily get access to an excellent customer feedback. You can ask the BPO Company you have contracted with about its opinion towards the company’s products and services. This can certainly come out to be the basis for the further improvement in your overall services.
Get backed by the latest technologies
Purchasing licensed software is a very costly affair. The cost of buying one Microsoft’s visual studio comes out to be around INR 90,000. Thus, you can assume how expensive will it be to go for a licensed software. You save on this entire cost when you simply go for outsourcing your business processes.
How can businesses be benefited from the BPO sector?
The future of the BPO sector is highly promising. This sector is highly promising and is said to generate the second highest number of jobs. It is said that by 2020, the worldwide business of BPO sector will cross $400 million.
This is important for you to know that when any sector grows. With that, the competition prevailing in that sector also increases. The higher the competition would be the more companies would work on creating a competitive edge. As a result, you will get a wide range of exceptional services. Thus, the booming of BPO sector means excellent services awaiting for businesses adding to improved business operations.
BPO services that you may expect
Some of the services that you may expect includes:
- Help Desk Support
- Customer Service
- Order Assistance
- Customer Product Support
- Market Research and Surveys
- Payroll Processing
- Human Resource Management
- Benefits Administration
- Accounting Functions
- Data Entry
- Quality Assurance
- Data Base Management
Outsourcing services bring a spur to economic growth
Outsourcing services bring a spur to economic growth. Thus, it becomes essential to know that when we go for outsourcing. The impact of it is clearly shown on the overall growth of the economy. Let’s see how it goes:
BPO cater to the employment needs of a large number of the working population. As a result, the overall productivity of the economy increases. The results of this are clearly visible in the GDP of any economy. The impact of well-performing BPO sectors has a great impact on the GDP of many economies ranging from the Philippines to India. This ultimately has a positive impact on the general business of the economy. This is because in an already flourishing economy with a good GDP rate the economies will flourish immensely.
Key drivers of BPO Sector
The key drivers that brought spur in the BPO Sector include:
Top companies in Australia
If you are looking for excellent BPO services, here are some of the top ten companies in Australia:
- Acquire BPO
- Call Assist
- TSA Group
- Virtual HQ
- Aegis Australia
- CDM Direct
- One Contact
- Virtual Reception
Things you might think before contracting
Here is a list of things that you need to keep in mind before contracting any BPO:
- The experience of the BPO
- The impact of outsourcing on your overall business
- The benefits you will get from outsourcing services
- The overall customer satisfaction and experience
In the end, BPO Services are the future of tomorrow.