There were many speculations when the term ‘Outsourcing’ comes to play in the market. Few experts said that it is just a ‘one-shot-wonder’, while others referred it as ‘fickle’ process with no certainty. In last few decades, big and small businesses have made it clear that outsourcing is here to stay.
Today, BPO outsourcing has reached new heights. Global BPO industry recorded a revenue of 24 billion US dollars in the fiscal year 2016. That’s something, isn’t it?
You might be thinking to join the party by outsourcing your business operations just like so many are doing. One alternative is that you hire a third party service provider domestically or internationally to manage your business requirements.
But this approach has some challenges like handing over your operations including confidential information and discreet business practice records. This can affect your patrons, adversaries, and stakeholders. Hence, it is necessary that your business is managed effectively and efficiently while they are outsourced.
Let’s hop on to some quick tips that can aid you in outsourcing your business operations:
1. List Them
It is imperative that you shortlist the operations you would want or require to outsource. Operations such as invoicing, digital marketing, payroll, tech-support, pay-roll, customers service or similar should be listed properly. This provides you a clear picture of what you require to handle, and where you should allocate the resources effectively.
2. Consider Admissible Providers
Finding pertinent and proficient service providers for managing the operations you desire to outsource is a must. You should make sure to keep a stringent check on their track records, clientele they served, projects handled by them, and the time-frame they took for the completion of the project. This will make your work easier.
3. Analyze and Appoint
The service providers you would shortlist will send you a detailed proposal. This proposal should be rigidly checked, by comparing the associated costs, going through all T&C (terms and conditions) and seeing the type of services offered. A comparative analysis of service providers will aid you in making a better decision while choosing a reliable bpo outsourcing associate.
4. Trial Run
A competent way of assessing the ability of outsourcing company to manage and provide the expected service is by running a trial run. In a trial run, the service provider will hire employees, organize the technology, bargain with the vendor and makeshift timings. Post-trial you can check the efficiency of the whole process within the time-frame. If any issue occurs, you can assess them and make arrangements accordingly.
5. Monitoring Team
A team will be required by you to communicate with and track the outsourcing company. This team ensures to respond to queries, track submitted reports, check on missed targets and deadlines, and deal with similar problems with respect to the outsourced process. It is advisable to bring in the senior professionals of your company in this team for better results.
6. Plan for Future
To make your outsourcing process effective, make sure that the changes involved such as transfer of responsibilities between the business and the outsourcing company are made swiftly. Track the number of employees who are going to show for training. If the providers are an international firm you might have to organize the visas in advance. Similarly, you can implement training via tech-tools such as video tutorials and virtual sessions.
7. Adequate Documentation
As a professional, it is obvious that you make each part of the service level agreement is documented and no stone is left unturned. A clear and comprehensive paperwork will lay out the accountability and responsibility. You should understand that outsourcing can sometimes lead to legal conflicts. This can be due to human error or carelessness, so your business should take suitable steps to smoothen the process.
8. Performance Check
Timely assessment of the service provider and the offered services are quite important. In case of any crisis, you should rectify the vendor ASAP. To facilitate the review process, make key performance indicators (KPIs) and metrics.
9. Transfer Accountability
It is critical that your outsourcing partner takes complete responsibility and accountability for the project after a specific time-frame. Your employees should be relieved from monitoring duties so that a smooth handover is done.
10. Constant Communication
Make sure to arrange regular conference calls with the service providers where the pain points are raised, solutions are given, and the information is passed on. This will deduce the interruptions and no conflict can arise.
All said, outsourcing your business process to a proficient service provider can boost the internal productivity, reduce cost and develop your competitiveness. This requires decent foresight, planning, detailing and timely assessment. Following these steps can make sure that the whole outsourcing process is satisfactory to you and good for your business.