Business Process Outsourcing – Take the Technology View

It’s a given that technology is an integral part of almost all business operations, and savvy business owners, executives, and CEOs are always on the lookout for new ways to leverage the existing technology for further success. Often, the rhetoric is around finding the “value-add” for their customers – but what does that really mean? How can a business optimise their processes and operations with technology to truly add value for their customer?

 There are four key ways this can be achieved:

 1. Optimise technology for sending outsourced information.
Think customer portals, dedicated customer lines, and online chat.

2.Utilise technology for improved communication.
Assess where your communication methods could be improved. Are your call wait times too long, email responses too slow, social media practically non-existent…you get the idea.

3.Progress your operational process automation (further cost savings).
Find your weak spots, and look to the market leaders to see how you can do better – or let someone else do best for you and your customers.

4. Leverage technology for visibility - dashboards and surveys. 
Market segmentation, real-time customer data access, surveys – the sky is the limit.

 Outsourcing business processes in an intelligent and strategic manner can improve the efficiency of your operations, deliver massive cost savings, and streamline the customer experience – when done well. Get it wrong, and your customers will notice.

 When choosing operational areas that may benefit from an outsourcing process, think about the four key areas listed below.

1. Can you work with the outsourcer to ensure client portals remain highly functional?
2. How will the outsourced area communicate with your customers? A solid plan that delineates which areas of communication are delegated to the outsourced area is a high priority.
3. If you don’t have the capacity to automate your processes, look outward – who does? Who is offering this service as a market leader? Leverage the strengths of others when looking to outsource.
4. How are you talking to your customers? Do they feel heard? An outsourced arrangement providing you with market insights and customer segmentation can be highly advantageous in forward-planning, whether it be operationally or financially.

The key takeaways from investigating your co-sourcing and business process outsourcing options will be unique to each business; however, there are some across the board wins that most assessments will produce. You should walk away with a clear picture of which processes might benefit from an outsourcing agreement, and what that would look like – not to mention where the cost savings will come from, and how they will be implemented. A good financial services partner will be able to assist you through this assessment process, and help your business move forward with increased efficiency.

 YML Co Sourcing reduces process costs by operating a client dedicated BPO ( Business Process Outsourcing) office and using RPA ( Robotic Process Automation) technology.

Talk to our Innovations team today to see how YML Group can assist you with your needs. Contact us on (02) 8383 4400 or by visiting the Contact Us Page.