What is Business Process Outsourcing?
Business Process Outsourcing (BPO) is the act of hiring an outside company to perform services that your business needs to operate. Essentially, your company would hire a third-party organization like RDI Connect to fulfill essential but non-primary business functions. For example, an advertising agency might outsource to a financial firm to handle payroll or the company’s financials. External services like ours at RDI Connect can help your business improve its efficiency and, in turn, become more successful.
Companies typically take the outsourcing route when they feel that another specialized organization could better complete the task at hand. Most often, businesses find outsourcing more innovative and efficient than creating a new department within the company itself to handle business functions.
BPO is of interest for businesses large and small all across the globe. From young startups to major Fortune 500 companies, all sorts of businesses across a wide variety of industries outsource different processes- and the industry is only getting bigger. As new, innovative services are introduced, companies will look for any edge they can get to push them ahead of the competition. Utilizing a BPO business model is a surefire way to streamline your company’s functionality and take your business to the next level. There are several other benefits of business process outsourcing, so here are the 5 major advantages of choosing BPO through RDI Connect.
5 Advantages of BPO
1. Cost Savings
One of the significant, key advantages of outsourcing business functions is the cost savings that come along with it. Usually, a large amount of the overhead cost goes toward your staffing and the necessary hiring, training, and onboarding process. It’s both expensive and time-consuming. Often, companies will find themselves faced with balancing current employees that are stretched too thin or the cost of justifying a new hire to help with the workload. Outsourcing drastically saves money on office space, materials, equipment, and resources since the outsourced workers are offsite. RDI Connect’s BPO services reduce the cost of in-house labor and assists in making your company as efficient as possible while still saving money.
2. Saving Time
Another significant advantage of business process outsourcing is simply the amount of time it saves. An average worker will spend nearly half of their workweek handling repetitive, digital tasks. But when these repetitive tasks are outsourced, you free up the hours consistently spent on those processes. Outsourcing allows you to allocate more time towards other things, creating a variety in responsibility for your workers instead of monotony. You should be utilizing your employee’s knowledge, skills, and experience as much as possible. Outsourcing to RDI Connect will allow you to ensure that your employees are satisfied and feel that all their abilities are valued will create greater workplace efficiency overall, leading to greater success for your business.
3. Greater Efficiency
Outsourcing allows non-core business functions to become easily streamlined. Specialists from your BPO service provider will handle those non-core functions, which in turn saves time, improves accuracy, and increases productivity. Instead of dedicating your company’s time, money, and energy towards ancillary business processes, outsourcing companies give your business more time to focus on what you do best.
4. Focus on Core Business Functions
Outsourcing business processes gives your company more time and energy to dedicate to your business’s focal point. You won’t have to worry about a payroll accountant’s performance or human resources recruitments- Instead, utilize this newfound freedom to dive deeper into what makes your company unique and the passions that lead you to start your business in the first place.
When you outsource to a BPO service provider like RDI Connect, you’re handing over business processes you need help with to highly skilled trained people who genuinely know them best. There’s no need to waste time trying to learn the ins and outs of non-core business functions. You can count on our expertise to fulfill your organization’s needs while you and your employees handle the main functions of your business.
Examples of BPO
Sales Process Outsourcing
While working through the sales process, many professionals spend a large chunk of their time building contact lists, prospecting sales opportunities, and generating leads. Although these tasks must be done, they hardly utilize a salesperson’s number one skill: closing deals. Sales process outsourcing will allow you to delegate those prospecting tasks to your outsourced workers while freeing up your salespeople to do more of what they do best. Communicate with your BPO service provider about what kinds of leads you’re looking for and how you want to look for them, and your outsourced workers will do the rest. From finding and nurturing leads to securing meetings for your sales team, outsourcing to RDI Connect is a great way to maximize sales process efficiency.
HR Business Process Outsourcing
The recruitment and hiring process is incredibly time-consuming. However, it’s a fundamental part of any organization. Outsourcing to an HR BPO can help your company on its quest to reach out to potential hires, review applications, set up interviews, and streamline the hiring and onboarding process as a whole.
Operations Management Outsourcing
Business operations are recurring, necessary tasks that can be easily outsourced in order to free up your employees. Outsourcing operations processes include everything from onboarding and uploading files to transcription services and booking reservations. A BPO focusing on business operations management can help your company get the job done well, on time.
Insurance Business Process Outsourcing
Outsourcing insurance business processes significantly helps to speed up the application process and lower costs. A BPO specializing in insurance business processes can provide much-needed help when applications flood in and the workload feels impossible for your employees to get the job done on their own. By outsourcing to RDI Connect, your business can be more successful and ultimately better serve your clients.