39 questions to ask any potential outsourcing provider to be able to drill down on their operations.
33 questions to ask any potential outsourcing provider to be able to drill down on their operations.
Key factors impacting the industry and the rising trend in outsourcing
33 questions to ask any potential outsourcing provider to be able to drill down on their operations.
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Save up to 70% on employment costs
Expert supportA reputable outsourced provider can help ensure your outsourced journey is optimised for success
Improve staff satisfactionIncrease employee satisfaction and decrease staff attrition rates
Business growthFoster sustainable business longevity by reinvesting into the growth of your business
Flexibility and availabilityHelp your business become more agile and flexible by opening up 24/7 availability
Access a global talent poolGive your business the ability to tap into a global talent pool to source candidates from anywhere in the world.
Business process outsourcing (BPO) is a type of outsourcing that involves hiring a team outside of your organisation to handle specific business processes. This can range from simple tasks like data entry to complex processes like customer service or accounting. BPO companies offer business process services to streamline and optimise operations for businesses.
The global BPO industry is expected to grow at a compound annual growth rate (CAGR) of 8.5%, reaching a market value of U.S. $620 billion by 2032(1). The convenience and cost-effectiveness of BPO services have led to an increased demand for BPO outsourcing companies.
A recent report by Global Industry Analysts(2) highlights the growth potential of the BPO industry, with key findings such as:
The market leaders and global hotspots for business process outsourcing include:
In 2020 alone, the Philippines outsourcing industry employed an additional 23,000 people, increasing the total number of BPO employees in the Philippines to 1.2 million
Caters to over 56% of the world’s BPO needs and is expected to employ 1.1 million people and deliver annual growth rate of 50%
The healthcare BPO market is expected to reach USD $33.46 billion by 2026
22% year on year BPO industry growth over the past 4 years
The BPO market is forecasted to grow to USD $113.11 million by 2029.
Organisations are always looking for ways to improve efficiency and reduce costs. Whether your business is facing challenges with growth and scalability, or increasing wages due to economic changes, outsourcing business processes can provide a solution for sustainable growth.
Here are some of the main benefits of outsourcing business process services:
Reduced costs
Save up to 70% on employment costs
Expert support
A reputable outsourced provider can help ensure your outsourced journey is optimised for success
Improve staff satisfaction
Increase employee satisfaction and decrease staff attrition rates
Business growth
Foster sustainable business longevity by reinvesting into the growth of your business
Flexibility and availability
Help your business become more agile and flexible by opening up 24/7 availability
Access a global talent pool
Give your business the ability to tap into a global talent pool to source candidates from anywhere in the world.
Choosing the right business process outsourcing company is crucial to ensuring that important metrics are achieved and maintained. Before making a decision, it's important to understand the company's operations and ask the right questions about aspects such as holiday and leave, security, human resources, recruitment, invoicing and account management. By asking the right questions that dive into how a BPO company operates, you can ensure that you partner with an outsourcing company that aligns with your business goals and can effectively support them.
In order to get the most from hiring offshore staff, it’s important to prepare your business so that you are offshore ready. Here are three steps to take to ensure your business is prepared for outsourcing:
The most effective way is to engage your team up front, sharing your ideas and vision with them in order to manage any initial push back straight away.
Clearly define the tasks within your business that you are going to have your outsourced team complete.
Keep your software up-to-date to ensure smooth sailing. Make sure you have a computer, headset, webcam and web conferencing platform to allow for seamless communication with your outsourced team.
Beepo offers exceptional business process outsourcing services across various industries, including technology, financial services, accountancy, NDIS, real estate, and professional services. Our primary goal is to help businesses increase margins and grow sustainably with the support of offshore staff.
BPO outsourcing is accessible to businesses of all sizes at Beepo. We offer a variety of affordable business process outsourcing solutions to meet the unique needs of businesses looking to succeed in both domestic and international markets. Our teams are based in Clark, Philippines, which is equipped with state-of-the-art infrastructure, facilities and technology. The Philippines is known for its highly educated English-speaking population, making it an ideal location for outsourcing business process services.
Find out what services you can outsource with Beepo here.
References
1 https://www.prnewswire.co.uk/news-releases/business-process-outsourcing-bpo-market-to-be-valued-at-us-620-bn-by-2032-exclusive-fact-mr-report-849089433.html
2 https://www.reportlinker.com/p04778730/Global-Business-Process-Outsourcing-BPO-Services.html?utm_source=GNW
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