Companies across the world are turning towards outsourcing owing to a number of benefits associated with this prodigious business strategy. You as a business owner, just need to handover the superfluous functions to a competent and reliable outsourcing company that ensures to provide you a sterling level of service experience.

The staggering rise of business process outsourcing can be accounted for numerous reasons. Although, one major factor for its success is the matureness of the BPO (Business Process Outsourcing) companies across the globe. These call centers now understand that how important it is to incorporate outsourcing into other business verticals. Owing to this, BPOs have now extended their call center service offerings other than customer care, technical support, financial and accounting. The more diversified services these call center offers, the more dependent businesses become on call centers.

After all these merits, some businesses are still dubious about the cost benefits associated with outsourcing. Business owners are still skeptical whether BPO (business process outsourcing) is really a cost-saver or a revenue-driver for organizations. Let’s see what it is actually:

Getting it all wrong

When businesses look to invest in an in-house premise to support their customers they know a large sum is required. Also, if the enterprises are not able to correctly implement the services, then the loss of revenue is assured. Setting up an in-house call center also demand integration of first-rate technology, which requires a great deal of money too.

On the other hand, tying up with a capable BPO company removes all those investments completely. Only price businesses need to pay is the nominal charge decided in the beginning; everything else including human resource and technology comes along with it. So, from this perspective, business process outsourcing is saving the mess and money you would have to go with while handling an in-house facility.

Recruitment of in-house agents

It is true that the cost associated with the software and hardware feat of an in-house call center is tremendous, still, this does not include the salaries of experts or the time it will take to hire such professionals. Nobody accounts this. Obviously, a business looking to hire its own tech support experts will take plenty of time and resource. This is just the waste of money and time when outsourcing is there to save tons of dollars for your business.

Where does it (outsourcing) stand?

Well, to be precise, business process outsourcing stands just in between the cost-saver and revenue-driver aspect. While choosing the outsourcing company, business owners look for strategic locations as in which are going to offer the maximum saving. Experts recommend that if businesses choose to outsource from specific nations with a culture that has best talent lagoon, specialized skills, and particular education, it will be more profitable.

As said, yes, BPO does save money by weeding off the investment needed in hiring, training, technology and allied. On the other hand, outsourcing is also known to hike the comprehensive revenue of the businesses.

How does BPOs drive revenue?

Nobody gets it right the very first time. But, implementing the tactics that radically enhance business processes, the revenue is generated at a much faster pace. Still, how does it happen?

Let’s say you have outsourced customer support to a competent call center. Now, these call center experts are highly skilled and extensively experienced in the domain, which means they are providing an unmatched level of customer experience.

When customers are satisfied to the maximum level, the likeability of them getting back to your business for repetitive purchase is inevitable. Along with this, positive word-of-mouth is also expected from the customers that increase the chance of new patrons joining your business.

In addition to this, deft call center experts ensure to implement tactics such as up-selling and cross-selling to your customers. For example, an order taking agent is meant to take information from the customer and pass it on to the business. But, these agents can also increase the average order cost utilizing their communication techniques and skill set. This again increases the overall revenue for your business.

Final Takeaway

Business process outsourcing or BPO is surely a bit of each; cost-saver, and a revenue driver. On one hand, outsourcing does save cost by completing removing the need to hire & train experts and install & update technologies. While on the other hand, outsourcing ensures to provide a maximum level of satisfaction to the customers that make them come back to business on a repetitive basis, which, in turn, increases the overall revenue.