Defining Role of BPO Industry in Managing Business Functions

Businesses across the world have been roping in outsourcing partners since the time of their existence. BPO firms have immensely supported global business growth by assisting organizations with the management of their non-core business processes.

By March 2019, 59% of organizations were found outsourcing some or the other business process to cut costs while ensuring maximum efficiency in work.
As per a Statista report, the global BPO market was worth $26 billion in 2019.

Business Functions Outsourced Most Often

Bookings, head-hunting and interview scheduling, cold calling, customer support, and payroll management are some of the most outsourced business processes.

Why Firms Outsource in the First Place?

To Concentrate on Core Business Competencies: The executives in the top positions are often busy handling the core business tasks and strategizing on business growth. By outsourcing the not-so-important or redundant work, they can save a considerable amount of time to devote to analysing critical data and reports.

Optimize Process Efficiency: A digital marketer is supposed to get an interview published and to put it across all the prominent online channels that have an impressive visitor-base. But there are other things needed to be done to reach out to such credible publishing portals.

And here comes into the picture, the role of outsourcing service providers. They can do the “reaching out” part on your behalf while your marketing team can prepare for another great interview.

Revenue Increment & Cost-Cutting:BPO industry not just assists a business in handling their non-core processes efficiently, but also provides for affordability. Outsourced processes are incomparably inexpensive.

Top Business Functions to Outsource to a BPO Service Provider

Digital Marketing & Business Development

These are the two important business processes that comprise tasks such as generating leads, finding potential customers, collecting data, doing follow-ups, creating interactive content for marketing needs, etc. These are all time-consuming, but vital tasks to keep a check onto.

Remotely-based professionals possessing bpo certifications when outsourced can perfectly handle these tedious tasks.

Business functions in marketing and business development that can be outsourced comprise:

• Data Entry: It is among the most frustrating tasks a business could do on its own. It sucks in big durations of time and demands the assistance of experts that can perform the work efficiently.

• Lead Generation: Email marketing and cold calling are a couple of non-separable activities in the lead generation process, wherein the role of trained bpo industry professionals serves critical to the whole process.

• Appointment Scheduling & Follow-Up: These two laborious business activities often take organizations’ focus off the primary business tasks. Outsourced professionals with bpo certifications in handling such tasks can prove to be a saviour for executives in higher management in this regard.

• Market Research: Another painful but essential task to be performed to keep a business competent enough to constantly generate profits. When it’s outsourced, the business development unit has enough time to develop high-impact proposals.

• Content Development: This is a skill-based task that only an apt writer can perform. It can be easily outsourced to certified professionals that are experts at it. The business tasks that fall in this category of work are article & blog writing, video editing, link building, whitepaper and press release publishing, etc.

Recruiting & HR

Human resources is the backbone of every organization that exists globally. They are the people that hire other people by carefully looking into their skillset, and then matching them to the organizational needs of their client.

Here are the major business roles in HR that should be outsourced:

• Payroll Management: Keeping track of employee attendance and managing their salary while considering the variables is a difficult management task for every organization, globally. Further, it doesn’t require a subject matter expert to take charge of the deeds.

• Employee Background Verification: In the present times, where there is an abundance of terrorists and illegal migrants, businesses must be careful while hiring. Employee verification here becomes indispensable and must not be avoided. The verification process comprises contacting the local police stations and previous employers.

• Resource Hiring: Firms with a need for hundreds of resources at different points in time must outsource the headhunting and recruiting operations. It will allow them to find the most skillful professionals while investing the minimal in resource hiring.

Business Operations

The day-to-day repetitive business operations can be outsourced to experts that can get them done while delivering maximum efficiency. This way organizations can help themselves avoid monotony and can concentrate on driving innovation.

Provided below are a couple of operational tasks that can be easily outsourced:

Authorization of KYC: Businesses are mostly app-based these days, and consumers like to pay online through their digital wallets. And hence, a business would need to perform KYC for each of its customers, which is a daunting task. When you rope in a BPO firm providing for bulk KYC-processing, the things get taken care of without you going off-track from focusing on your core business.

Online Order Processing: With the growing number of e-commerce firms across the globe, the need for assistance regarding online order fulfillment is also growing. Each B2B and B2C firm needs an outsourced partner that can register their online orders, communicate with the customer at every stage of order-processing, and assign the orders obtained to a delivery partner, thus completing the fulfillment cycle.

Finance & Administration

Business processes that don’t impact the business revenues much are:

Business Travel: It is another vital business function that needs to be outsourced to bpo experts. Moving employees from one point to another for business work falls under the day-to-day administration tasks of many organizations. Outsourcing the same can help businesses cut costs associated with ticketing and reservation for international travel up to a large extent.

Security: Protecting business assets and human resource from unlawful elements is the responsibility of the administration department in an organization. It should be outsourced to professionals that are best suited for the role.

Accounting & Bookkeeping: There are bpo certifications in finance that many of the professionals active in the bpo industry enrol into. These people are the most effective and efficient, both at the same time while handling your business’s financial sheets.

Concluding Thoughts

Innumerable benefits are associated with taking assistance from BPO firms. Whether you are a small business or a multi-national company, there will be some or the other non-core business process that will need the attention of experts to handle it efficiently. If you find one, go outsource it!