During the initial years, outsourcing was only used for basic processes such as data entry and payroll processing. However, as connectivity expanded and the technological skills of BPO companies advanced, businesses started outsourcing more and more processes/services. Today, you can outsource many backend processes and financial/operation functions such as invoice management, accounts payable processing, survey reporting, and utility bill management to name a few.
This is most talked about business process outsourcing trend on the outsourcing horizon and yes, you’ve got it right! We are talking about cloud computing that will overhaul the traditional way of doing things.
Cloud computing is steadily digitizing businesses across the world. According to a recent study by Gartner, INC., the worldwide public cloud services market is expected to further expand by 17% in 2020 to $266.4 billion, up from $227.8 billion in 2019, is not it huge
A cloud is basically an interconnected network of internet servers that store, analyze, and process data in the virtual space. Cloud computing, then refers to a network that is used for the delivery of software services and data.
Cloud computing provides stability, security, and greater flexibility in outsourcing processes. A cloud-based platform works as a great collaborative platform for companies with locations in different countries as it allows data visualization that provides businesses with real-time data and information. It is further estimated that the next generation of business process outsourcing solutions will be all cloud-enhanced solutions
Cloud computing and business process outsourcing has evolved beyond an imaginable scale over the past decade. The Cloud, which was considered a mere concept not so long ago, is making waves in the industry today. Small businesses are the ones who have benefited the most, as they now have access to larger computing resources and high-performance infrastructure, which they could never dare to afford before. Since the high demand for the ‘cloud’ has led to numerous innovations, organizations, no matter what scale, are prioritizing to acquire superior cloud-based services and computing resources for increasing business process speed and efficiency.
Finding the right strategic fit has become an intimidating task, especially for entrepreneurial start-up ventures. Small-scale businesses usually lack market knowledge, skills, proper information and experience, which restricts them in finding a suitable computing service provider. As a rule of thumb, the better the service, the higher the expectations, the higher the results. This means that acquiring the right service is absolutely necessary if you expect to achieve significant results in terms of improved business processes and value chain engagement.
Attention! The fears were true; artificial intelligence is taking over the world and outsourcing is next!
Scared you pretty good, didn’t we? Well, jokes aside, it is a fact that artificial intelligence or AI is becoming an increasingly vital feature in every industry and the outsourcing business is no different.
AI is being increasingly employed to automate several data entry and processing functions including accounts payable processing, invoice management, and utility bill processing.
AI streamlines all these processes by identifying and segregating data and even automatically filling in missing details. As an example, let’s say you need to process a large number of invoices in every format ranging from physical documents to email attachments and digital invoices. Once the document conversion process is over, AI can automatically detect and fill in any missing information to complete the invoice document and increase the chances of swift approval and payment.
The applications of AI in business process outsourcing are endless and will revolutionize business process outsourcing solutions in the years to come.
Artificial Intelligence is fast invading various industries, so it is dictating upon business process outsourcing companies. To put it in a nutshell, Artificial Intelligence is transforming industries by researching in Big data and Cloud computing. As such, BPO is the one that is most affected as it is intimately related to both the former and the later. Moreover, it acts as an epicenter for numerous kinds of business process outsourcing companies. The centrality of the BPO industry also paves the way for meeting the growing customer expectations. Therefore, it would not be wrong to point out that a thriving BPO industry would flourish with AI intervention.
In the post-globalized world, businesses are eager to pile up their revenues. To make it happen, they want to cut down on unnecessary costs and further the scale of their operations especially in the untapped markets where favorable business conditions are present. Hence, they desire the outsourcing units to leverage the power of AI so that not only the subsidiary company is benefited but the parent company also becomes a partner in the road of rapid monetary progress.
BPO companies worldwide are now fast responding to this changing business climate. Using Big data and cloud computing they are mining large sets of data and generating a comprehensive graphical analysis from the raw and randomly stacked up data sets. These analytical data sets are not only useful for the scaling up of business operations in general but also tracking up customer satisfaction by review monitoring in particular.
Hence, when we are talking about the superposition principle in the case of AI and BPO, we are referring to the mutual benefits one can bring for the other. Put in simpler words, AI can make the BPO industry thrive in the form of revolutionizing the processes liked to the chatbot. On the other hand, the BPO industry can benefit AI by acting as a hotbed of research and a new genre for researchers interested in this field.
Outsourcing has moved beyond simple, repetitive, and basic tasks. Today, businesses are looking for smart solutions to their everyday problems that involve the perfect combination of human innovation, automated efficiency, and technical accuracy, i.e. people, process, and technology.
Outsourcing firms have risen splendidly to this challenge with a range of customized technological solutions. From custom-built automation bots to cloud-based collaboration platforms, the process of outsourcing has become a smart sourcing one.
By Reinvention and innovation, BPO doesn’t just hand you the same list of services with the same processing solution. BPO’s these days studies your business model and your current processes to identify the cogs in the wheel and then optimizes each step to create a flawless workflow with a customized solution that is tailored to your company’s specific needs.
BPO teams comprise college-educated, well-experienced members with analytical minds, and strong problem-solving skills. These skills translate into successful business solutions with the efficient employment of advanced automation and machine learning technologies.
BPO providers should look to build Omni channels as true “human services companies.” They have the data in place to do great analytics, but can’t always manage it from a technical and operational point of view.
One key issue is that improvements tend to be small, isolated, and almost exclusively under the umbrella of the English language. In a truly global market, BPO providers are missing out on key improvements that have the power to ensure clients maintain innovative practices and high-profit margins.
When BPO providers can nail areas like customer service, the benefits of new technology like AI and automation can be unlocked and services will be more affordable, which is of course the bottom line for customers.
Ultimately it all comes down to disrupting before you’re disrupted. It’s time for BPO providers to grab the opportunities to adapt, innovate, and reinvent successfully for the future.
Robotic process automation or RPA refers to the application of specialized computer programs to automate secondary or repetitive tasks such as data entry or mining for higher accuracy and reduced operating costs
However, for a complete digital solution, you need a blended approach that uses artificial intelligence and machine learning with the right human intervention and supervision to create successful solutions.
The first step in the implementation of robotic process automation is a thorough analysis of the existing business process and the creation of an optimized solution to eliminate all errors. Once the new process has been defined, special software robots, i.e., bots are coded and assigned to the existing workstream wherein they start performing tasks with greater speed, accuracy, and precision.
The purpose of automation goes beyond just reducing costs, bots speed up your processing time drastically, while also delivering high-quality consistent data with greater accuracy.
The option of customized coding elevates robotic process automation over enterprise automation solutions as RPA offers more than just automation, it gives you a super-efficient work-stream, manages your workload effectively, and frees up your time and office resources so that you can focus on developing your core competencies and scaling your business.
Robotic process automation is set to revolutionize the outsourcing industry by transforming raw, unstructured data into measurable performance. Let’s keep a lookout for it, shall we?
Ironically, one of the biggest fears about outsourcing is also one of the biggest myths about outsourcing.
Cyberattacks are on the rise; as per RiskBased Security, data breaches exposed approx. 4.1 billion records in the first half of 2019 alone.
According to Fundera, around 43% of cyber attacks target small businesses. Statistics further indicate that healthcare, retail, and manufacturing are the most targeted industries for cyberattacks. This means that providing high-grade data security will one of the major business process outsourcing trends in 2020.
For any company, one of the primary outsourcing concerns while outsourcing data processing services is the fear of data theft and the negative impact it may have on their business. Their fear is entirely justifiable and that’s why outsourcing companies are paying greater attention to data security measures and protocols.
BPO should recognize that with data security, comes great responsibility.
They must be extremely particular about our clients’ data security and thus they should have their VPNs, SSLs, encryption protocols, HIPAA, PCI, GDPR compliances, and security protocols in place.
In addition to security compliances and protocols, they should be extremely careful about who they expose your data to. Access to sensitive data is strictly on a need-to-know basis, and they must have measures in place that ensure that your data cannot be moved, edited, or seen by all.
They should also take special care to hold sensitive data only for a strict time limit, once they are done with the data and have successfully delivered it, it should be disposed of it after the specified date. BPO clients trust them with sensitive data because they know that they can. They should also regularly review and update their security measures to manage the client’s documents and data entry securely.
There are some more trends going on for BPO companies, we will keep discussing them in our coming blogs, keep reading, stay tuned and more importantly fine-tuned
Sources: Gartner Forecasts Worldwide Public Cloud Revenue to Grow 17% in 2020
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Read moreCustomers are one of the most important components and resources of a business. To be successful, they need to know […]
Read moreSince the dawn of time, one of the most significant functions of a customer service department has been handling customer […]
Read moreChatbots are computer programs that can converse with humans in natural language. They are used by companies to interact with […]
Read moreAuthor Profile Nitish Kaul Nitish is a CX Solutionings Expert at DialDesk. He has helped provide our customers with fantastic […]
Read more“Every day we’re saying, ‘How can we keep this customer happy?’ How can we get ahead in innovation by doing […]
Read moreThere’s nothing more important for a business than keeping its current customers, but unfortunately, this is often the part of […]
Read moreDo you know the feeling when you present your proposal and align the meetings but nothing happens? You’re not alone. […]
Read moreAre you looking for an email marketing template that works well for customer support? Look no further! Creating an email […]
Read moreCustomer support managers are tasked with solving problems for their customers, but unfortunately, this isn’t always easy. Sometimes customer support […]
Read moreEmail marketing is one of the most effective ways to communicate with customers and build a sense of trust between […]
Read more“If the company’s customer service is excellent, 78% of consumers will do business with a company again after a mistake.” […]
Read moreSocial media has been a blessing and a curse for customer support. It allows you to provide customer support faster […]
Read moreAccording to HubSpot Research, 93% of customers are likely to make repeat purchases with companies that offer excellent customer service. […]
Read moreThe only way to sustainably grow your business is by investing in your customer support. Yet most businesses fail because […]
Read moreThe blog post talks about how artificial intelligence is being used in call centers, and how it will impact customer […]
Read moreAccording to Fortune Business Insights, Customer Relationship Management (CRM) was valued at $52.64 billion in 2020. Pandemic effects in the […]
Read more“The global cloud telephony service market is expected to reach US$ 65.10 billion by 2030 during the forecast period from […]
Read moreThe world has seen an explosive rise in the popularity of cloud-based software, and Dial CRM is one example. A […]
Read moreRunning a call centre is not just about keeping your customers happy. It’s also about keeping your sales high. In […]
Read moreStephen Covey, the author of ‘The 7 Habits of Highly Effective People’, said that successful people are always working on […]
Read moreAs Mark Hunter says: “It’s not about having the right opportunities. It’s about how you handle the right ones.” When […]
Read more“One of the greatest failures of every generation is that it refuses to read the minutes of the last meeting.” […]
Read moreAs Jacquelyn Smith, Forbes says, “A successful sales pitch isn’t a monologue. It’s a dialogue.” An effective sales pitch is […]
Read moreWhat is a Service Desk? Service desks, help desks, or support desks all refer to departments that provide help to […]
Read moreThe impact that customer service has on a business is something that often gets overlooked. Customer service is often seen […]
Read moreAs of now, nobody’s sure what will happen when these two generations – one, who never expects companies to pick […]
Read moreCustomer data is a valuable business asset. You must build an effective customer data management strategy to protect that asset. […]
Read moreA help center is your lifeline to customers. While building one is *not* a straightforward process, here are key points […]
Read moreEvery business has customers and every business has the chance to improve its business by growing its customer base. Since […]
Read moreDo you know if your business has a customer focus? Although it might seem like a difficult question to answer, there […]
Read moreAuthor Profile Nitish Kaul Nitish is a CX Solutionings Expert at DialDesk. He has helped provide our customers with fantastic […]
Read moreYou might think that creating the “ultimate customer experience” is all about making sure your customers are happy. If a […]
Read moreKeeping prices competitive is essential for any business. Having this information can make the difference between having a successful business […]
Read moreAs any business grows and expands, it’s common to focus on scaling operations. Certainly this is true, but sometimes companies […]
Read moreNo matter how much you love your product, your customers will always know better than you. Learn to listen and […]
Read moreSometimes, companies will promote themselves as experts in customer retention, but what does this mean? Customer retention is the main […]
Read more“Listen to your customers before they listen to your competition.” – Julian Hall When was the last time you looked […]
Read moreLost sales and lower-income are not the only indicators of abandonment. Abandonment even results in a loss of clients for […]
Read moreIf you are in charge of retaining your company’s customers, you know the feeling of sadness when you hear customers […]
Read more“Your most unhappy customers are your greatest source of learning.” – Bill Gates A customer is the backbone of every […]
Read moreIn the past few years, businesses were falling all over themselves to get a chatbot up and running for their […]
Read moreYou’re doing all the right things. You’re friendly, you’re responsive, you’re on top of customer issues and you’re constantly delivering […]
Read moreAuthor Profile Nitish Kaul Nitish is a CX Solutionings Expert at DialDesk. He has helped provide our customers with fantastic […]
Read moreCustomer service KPIs (Key Performance Indicators) are the tools that help you understand how your customer service is performing. KPIs help you identify if you’re meeting your business goals, how well your agents are performing, and how your customer satisfaction is trending. They’re important because they provide actionable data you can use to improve your customer service.
Read moreLet us say that you own nothing but sheep. So one day you are out grazing the flock and all […]
Read moreNo matter what industry your business is in, every business has the same goal: Keeping your Customers! Customer retention is […]
Read moreAn effective ticketing system tracks and manages customer interactions, and makes it easier for support departments to manage their efforts. Data gleaned from these help agents provide personalized service and streamline operations, which helps support staff coordinate their efforts and automate tedious (and often time-consuming) tasks, facilitating both personalized service and faster resolution.
Read moreAuthor Profile Deepak Kashyap A CX expert, keynote speaker, and author, Deepak Kashyap has over 25+ years of experience. His […]
Read moreGlobally, the E-Commerce Market is expected to reach USD 16,215.6 billion by 2027, growing at a CAGR of 22.9% during […]
Read moreOrganizations need a resilient strategy for customer retention that makes sense in relation to current market conditions. Many companies are already prioritizing customer experience as it can be more profitable, yet it is still important for organizations to look ahead and identify any changes coming ahead of competitors in the market, who might not have made the same move yet.
Read more“Customer experience” has been an important aspect of business marketing strategy since the beginning of the 21st century. Businesses have been shifting towards a “customer-first” mentality, where their goals align with improving customers’ happiness and satisfaction by taking into consideration all that they think and feel, rather than focusing solely on financial gains. To achieve this customer-centric approach, businesses have taken advantage of technologies to determine customer emotions at a deeper level.
Read moreOn the whole, it is best to be quickly responsive when it comes to consistently responding to leads. Ready responsiveness helps expedite client requests, which will save you money on several levels. You’ll have access to a larger pool of customers while keeping uninterested consumers from slipping away and ultimately decreasing your number of potential sales. Please read the blog below that pertains directly to the benefits of kick-starting your lead response times today!
Read moreThis blog will help you take a closer look at what cloud telephony is and How does Cloud telephony work to benefit your business. It also makes it easier for employees to collaborate, share knowledge, and for companies to track conversations in real-time.
Read moreCustomers are the mainstay of businesses in all industries. Therefore, having a dedicated tool for delivering superior customer service is essential to ensure cordial bond with them for consistent growth.
Read moreCustomer engagement and retention have been a serious concern in the insurance industry. Most companies keep on searching for how to enhance customer engagement in the insurance industry and in this blog post, you can find some of the useful tactics that can help the insurance industry maintain a cordial relationship with its existing customers.
Read moreFind the proven strategies for how to measure customer expectations to maintain a positive experience of your customer with your products and services.
Read moreCustomer experience is a key factor in creating a successful brand. When it comes to marketing, then it would not be wrong to say that technology offers us the opportunity to manage the customer experience in several respects.
Read moreThis guide help you engage & retain your customers with no hassles and make you learn how to manage customer complaints seamlessly for quick resolution.
Read moreIf you want to delight your customers at every touchpoint, then you need to have a robust ticket management system that offers you omnichannel customer support.
Read moreMany industries have been impacted badly due to the pandemic but, it would be safe to say that the consumer durables industry is showing growth trends from a long-term perspective.
Read moreCustomer satisfaction act as the primary catalyst in pushing a company forward, and ensuring repeat business. However, companies cannot create their customer service strategies based on vague data or few interactions and can only trust quantitative data.
Read moreThe Consumer Electronics industry in India, which was valued at $10.93 billion in 2019, is expected to reach $21.18 billion […]
Read moreBrands are increasingly focusing to become more customer-centric and elevate customer experience to improve customer satisfaction, loyalty, and lifetime value. […]
Read moreIf you’re mapping or want to track your customer journey, there are plenty of things to be kept in mind […]
Read moreCustomers are the bloodline of any business. Without them, there will be no reason to continue the business. Even more […]
Read moreNo matter how small or big your business is or what it does, voice communication is a critical element of success.
Read moreAuthor Profile Varuna Raghav As a CX and marketing specialist, Varuna Raghav has more than 15+ years of experience to […]
Read moreSales closing is a make-or-break moment. No matter how hard you work and how well you design solutions for customers, […]
Read moreDo you want to make your business communications efficient and cost-effective? In this blog, we will explain to you how […]
Read moreIf you have a sales team that works on-field or is working remotely to generate sales for you, then you […]
Read moreOrganizations worldwide often wonder what the difference is between a customer relationship management (CRM) system and an enterprise resource planning […]
Read moreNew technology comes fast and goes, even faster. These days, there’s a new app or widget every week promising to […]
Read moreAccording to research, over 70% of all customers who leave a company for its competition have no problem with the […]
Read moreYou need to keep updating your customer strategies to ensure that they are happy with your products & services. Everything […]
Read morenstant Inbound is a game-changing sales prospecting strategy that enables you to connect with more prospects, faster and allows you to be more productive and make more money.
Read moreLast month, a miracle happened. Your company’s video went viral. Lead volume shot up by 500%. You were pumped and […]
Read moreIf you ask many business executives, they would say their customer service contact center is a necessary expense and it […]
Read moreEven if you have the best product in the world, your business is doomed to fail if no one knows […]
Read moreCustomer experience and contact centers, in particular, are great starting points to implement artificial intelligence (AI) solutions since they are a large […]
Read moreBrands & retailers build better customer service systems by removing the guesswork of what customers want. A SaaS platform for customer engagement combines chat, voice, and social media for one cohesive customer service experience.
Read moreIt’s the age of the customer and the world’s biggest brands are duking it out every day for a greater […]
Read moreUnderstanding the various touchpoints you have with your customers is key to delivering memorable customer experience. Once you’ve mapped out your […]
Read moreAs a business head or business owner, you need to find ways to grow your sales and revenue. Exploring different […]
Read moreAuthor Profile Nitish Kaul Nitish is a CX Solutionings Expert at DialDesk. He has helped provide our customers with fantastic […]
Read moreMarketing teams spend a lot of time, effort, and money to create compelling campaigns, optimize them to generate leads, set auto-responders […]
Read moreThis blog help you get the niche and specific Customer winning map by suggesting necessary tools, focus areas and changes to sell like a champion.
Read moreEmail marketing is one of the most important components of customer engagement. Whether it is a webinar email or a […]
Read moreWe have collected some information, I think very useful information regarding changing scenarios of sales in the times of SM […]
Read moreIf figuring out how to grow and effectively manage an In-House team seems like a huge obstacle and will largely […]
Read moreResearch shows that 69% of buyers accepted a call from new salespeople in the past 12 months, and 27% of sellers admit […]
Read moreProviding a stellar customer experience has been a cornerstone of business practically since spending and consumption have existed. However, now […]
Read moreCustomer service reports not only provides you an overview of all customer service requests received from your customers but also […]
Read moreMany companies, including yours, might find outsourcing to be a good idea as there is so much to be gained […]
Read moreIrrespective of the customer’s location, call centers play an important role in delivering reliable customer experience on a daily basis. […]
Read moreHuman interaction remains a vital component of customer satisfaction, even in the ‘digital age’. 83 percent of world’s consumers prefer dealing with […]
Read morePut yourself in the customers’ shoes. How do you gauge the quality of service a company gives? What makes a […]
Read moreThe buying experience often gets the most attention in customer service. Conversions are the name of the game for most […]
Read moreis the apt framework developed for deploying the right mix of People, Process & Technology in a business with a clear eye on increasing lead conversion, reducing customer acquisition & management cost, and winning customers for life.
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