Business Process Management (BPM) is a fantastic way to scale your business operations and achieve growth in a cost-efficient manner. You can save time and energy by letting an external partner handle many hiring and training tasks. You can also access a larger pool of candidates and avoid the hassle of dealing with different tax or employment laws as you enter new markets. BPM is a way of outsourcing various services to a third-party partner or vendor.
BPM companies can help you find skilled talent from different regions and backgrounds that suit your business needs. You can concentrate on your core activities while they hire, train, and manage the staff. BPM services are often associated with customer support outsourcing for industries like ecommerce, healthcare, pharma, retail, telecom, and more. By outsourcing non-essential tasks to a top Business Process Management services provider, your business can enhance your profitability and your company’s performance and efficiency. This way, you can let your highly skilled and qualified staff focus on their core competencies.
Types Of BPM Companies
Location is a key factor to consider when choosing a top Business
Process Management Service company, besides cost. BPM companies can be classified by where they operate: onshore, near-shore, or off-shore. Some companies have all three options, while others only have one.
- Onshore outsourcing is when you work with a local partner in the same country as your business. This option may be more costly, but it can offer a better fit for culture and language.
- Near-shore outsourcing involves working with a partner in a nearby country or region. For example, if your business is in the US, you can outsource to Canada or Mexico. This option may be cheaper than onshore but may limit your ability to expand to other time zones.
- Off-shore outsourcing is when you work with a partner in a distant country or continent. This option may be the cheapest, but it can also pose challenges in communication and security. Off-shore outsourcing allows you to access a wider range of languages and time zones.
The Advantages Of Outsourcing To A Top Business Process Management Services
There are many reasons why an organization should choose BPM to help grow your business. Each BPM company will offer the following benefits when working as an outsourcing partner:
Cost-efficiency
The most common reason to outsource BPO process to a leading BPM is that it offers cost-efficient services. By optimizing different labor markets, BPM companies specialize in finding talented employees at a lower cost. Tasks like handling IT help desk calls, offering first-tier support, or content moderation have high repeatability but still require a human touch. Using BPM for these activities can allow your higher-compensated team to focus on more complex, in-depth issues while providing a high-quality service across all functions.
Multi-Language Requirements
As your company grows, you might need marketing materials or customer-facing services in multiple languages. Outsource BPO process vendors are set up to quickly hire in many countries with locals who can provide services in their native language. The advantage of this approach is that you don’t need to set up foreign entities or have recruitment staff or paid recruiters who can assess the language skills correctly. Instead, the BPM company will handle your hiring, language tests, and skills assessments.
Expanded Support Hours
As with language, a scaling business often needs round-the-clock services. A BPM can provide 24/7 support or business development in new geographic locations more quickly. They also have a strong knowledge of staffing models for best holiday schedules, redundancy for sick leave and vacations, and task hand-offs. This arrangement lets you have people working in their local hours instead of attempting shift work in your local teams. Relying on a BPM partner can help your business thrive as you expand globally.
Seasonality and Flexibility
Depending on the nature of your business, you may need short-term staff to help you cover busy seasons or unforeseeable spikes in demand. Many BPM companies can quickly scale up temporary teams or provide shared services where employees are not specific to your company but are available to help as required. Once again, this saves you recruitment, training, and other onboarding/offboarding inefficiencies.
Workforce Scalability
When you are scaling rapidly, hiring always seems to continue. The time taken to interview, onboard, and professionally develop these hires and expand your leadership team to maintain a healthy leader-to-direct report ratio is significant. Often, BPM vendors have people assessed and waiting for the right role or have internal hires looking for new opportunities that can transition in days. It’s also in the best interest of a BPM to continually develop its employees and provide high-quality services so that you want them to scale along with you. Trusting a top Business Process Management Services company to handle these tasks will give you the same level of expertise, just faster.
How To Look For The Right BPM Company?
There are many options for Business Process Management companies in the market. However, finding the right one for your business is easier said than done. Below are five tips to help you find the right BPM outsourcing partner:
- Do thorough research. Check the background and other relevant details of the prospects. The potential partner should have a proven track record of delivering successful results to the organizations it worked with.
- Find out the BPM provider’s technology. The service provider should use the most updated customer relationship management platform and other advanced software. These tools enable them to monitor and improve their customer service team’s work. Their technology should also efficiently handle many customer calls and requests.
- Compare the BPM work culture with yours. The outsourcing company’s work culture and ethics should align with your organization’s. Working together with the same goals and expectations makes processes effective.
- Verify transparency. Ask the potential partner about any hidden service fees or other included costs, if any, from the start. Get the details of their rates. Request that the BPM provider show their security practices related to outsourcing services.
- Ensure scalability. The BPM company should be able to scale its services up or down depending on your business needs. Scalability is an effective cost-management system. You pay more service fees to the partner when sales are high, but when sales are low, you pay less.
Should You Use BPM Services?
Business Process Management is a proven way to help your business improve and save costs. It can also ensure that your customers receive high-quality service and support while you focus on your core functions. The BPM industry is diverse, which allows you to choose the best type of management to align with your business requirements. This sector also has experts, specialists, and professionals who can help with your non-core activities. In any business endeavor, challenges are likely to arise. A better understanding and knowledge of Business Process Management services will prepare you to handle them.