Business expansion is typically the top priority for most ambitious and driven entrepreneurs. Whether they manage a startup, small to medium enterprise, or large corporation, expanding their operations is a common long-term goal. But unfortunately, the lack of resources in terms of time, people, skills, and finances stop many business owners from achieving this goal.
The good news is that companies can still make it happen with the help of reputable and trusted BPO outsourcing companies. A BPO provider firm caters to businesses needing assistance and professional support to expand their business and achieve their other targets. Outsourcing services can also empower a business to transcend borders, expand to new locations, and explore new opportunities and areas for expansion. It is an opportunity you gain on top of other outsourcing benefits, such as cost savings and improved operations.
You are one step closer to acquiring customers from unexplored territories with the right staff to oversee and manage your technical support needs or customer service.
In this blog post, discover how exactly outsourcing can open the doors for growth and development your business can benefit significantly.
Let’s jump right into it.
How Outsourcing Expands Your Company’s Reach
Widens your company’s perspective with the latest industry insights, trade secrets, and business practices that only the experts know
One salient step for increasing your business’s scope is to assemble a team of skilled professionals to assist you in doing so and help you achieve this goal. Their many years of experience and valuable knowledge as practising professionals could be valuable assets for your endeavours. Partnering with BPO business and service companies renders you with cutting-edge and latest information only the experts know. When applied correctly, it can expand and improve your operations over time and aid your company in the long run.
Provides your company with greater scalability in your staffing and lower labour costs
Many startup companies make the mistake of pouring their assets into things that are not part of the core lifeline of their business operations. Business process outsourcing enables companies to keep pace with their scalability goals through greater leeway and flexibility in their staffing.
You could hire another professional from a third-service provider to complete your team’s tasks when workload necessitates, without needing to hire someone full-time. And your savings from not having to pay a permanent worker allows for tremendous company growth as you can work them out in other areas and expansion endeavours.
The latest tools and equipment will be available to your company without the heavy financial investment
For more chances of success in today’s highly competitive business world, companies must be at the forefront of technology. But for many low-profit companies that confront this issue, not only the extravagant equipment costs that stand in the way but also the prices of some beneficial software application programs applicable to their operations.
When utilizing a BPO service, your business can reap the benefits of greater efficiency and productivity. It’s a viable option without using them yourself, for instance, partnering with IT outsourcing companies for website designing outsourcing, virtual assistance or data entry.
Renders your company an opportunity to run a more cost-efficient and time-efficient business
Outsourcing your business’ operations can allow you to increase efficiency, a requirement for business development, before you go forward. In addition, contracting the experts to perform specific tasks saves you valuable time and the resources you usually invest in recruitment and training, which can direct market expansion.
Allows your company to concentrate on core competencies
Dispersing your company’s workload through a BPO partner in handling certain facets of your business will free up a lot of your time and allow you to focus more on where your true strengths, unique aptitudes and core competencies lie.
Businesses that can stimulate their passions, concentrate on their core strengths and devote their resources to consistently enhancing them are more likely to endure than businesses that try to do everything else at a mediocre level.
So delegate your non-core responsibilities to those who better do them. The heart of the business’s expansion will follow after you master your operational expertise, which comes from sharpness in understanding what you do best.
Frees up capital
As you expand your business, big or small, capital is vital to sustaining expansion. Retaining capital augments your company’s profitability. When you make internal hires, your fixed costs become a permanent fixture on your balance sheet. With outsourcing, those fixed costs become variable expenses. Variable costs are more easily reduced, changed, and controlled. These lowering fixed costs mean you have more capital to funnel to other parts of the business.
Seeking investors or considering putting your sites on the open market to buyers will surely make you more appealing to your investors. With more capital available and direct in generating revenue, your company becomes a better investment decision for buyers and investors.
Reaches global market
Small businesses most often try to scale up and increase their reach, but frequently have a hard time achieving this task due to spending risks, lack of connections, frustrating associations, or not having the necessary skills all stand for such an undertaking.
One of the advantages of outsourcing is gaining networks and getting more exposure to a particular business location. How? When businesses engage with offshore or nearshore outsourcing, they may easily seek local partners and receive local market knowledge that is crucial for business growth and expansion. As a result, small businesses can elevate their customer base and reach as many as possible.
Improves services delivery
Outsourcing can help you establish a solid foothold in international markets by boosting your customer-service delivery into a promising source of revenue and income-generating arm for your company.
Furthermore, you can equip your customer service desk with skilled agents who can go on switching shifts and schedules to cater to your customer’s needs on a 24/7 basis by turning to business process outsourcing in the Philippines. By doing this, any customers bridged from different parts of the world can contact you at any time, day or night, and can reach out to you anytime they want to, regardless of differences in the time zone.
Engages with a diverse consumer base
Tapping into third service providers with expertise and experience in handling operations such as customer service can open up new doors of opportunities and business innovations. One such area is bilingualism or multilingualism. Outsourcing to a bilingual or multilingual customer service centre gives you access to a team that can converse with non-English-speaking customers.
Bilingual or multilingual call centre outsourcing allows you to double or even triple your annual individual client base due to new methods that surpass and transcend language or cultural barriers.
Whether you’re still planning to penetrate foreign markets or currently have a diverse customer base, a bilingual or multilingual call centre can provide opportunities to reinforce your relationship with your target demographic.
Common Business Processes, Roles, and Responsibilities That You Can Outsource
Administrative Assistance
Back office and administrative tasks can absorb a significant part of your attention and take up a massive amount of your time, pulling you away from your core company. So offload administrative functions such as sending out emails, making calls, setting up appointments, and producing schedules to a virtual assistant as they are easy to procure and may be employed quite economically.
These virtual assistants from around the world can be hired at a comparatively lower rate than similar services or the same type of work demands in the United States. But, of course, language, cultural barriers and cultural differences in work must be considered, especially if the assistant will be performing customer-facing work.
Operations Management
Running a company compromises innumerable duties that are time-consuming and often repetitive by default. However, critical and integral to the overall operation are these tasks. You can partner with a BPO service provider with expertise in business management to free up your in-house employees from such a burden.
That way, you can be assured you can get the regularly executed duties done correctly, efficiently and on schedule in accordance with your demands. Therefore, engaging in business outsourcing for your expansion plan is a valuable and beneficial step to improving your bottom line.
Human Resources
Recruitment and hiring of staff can be quite tedious and highly time-consuming for companies, but it is imperative to keep the business running. Outsourcing HR can help businesses by enabling them to find and reach ideal candidates without needing to waste time and energy on the recruitment processes that an in-house employee usually does.
A BPO company exemplifies a way to provide you with a skilled outsourced staff that can handle your HR processes, such as reviewing job applications, reaching out to potential candidates, conducting interviews, and streamlining the onboarding process in general.
Tech Support
Technology-savvy companies looking for ways to construct and design their website can choose many available options out there. These sources may be a good option and make it easier for novices to gain an online website, but many are not always well matched and the best choice for businesses.
Outsourcing your presence on the web, including your domain name, technical portals, and other tech jobs, can be more time and cost-effective, with better results than sticking in-house. Likewise, having competent experts can help your business put its best virtual foot forward and improve its digital foothold.
Sales Processing
Modern techniques in sales involve building contact lists, prospecting for sales opportunities, generating leads and ultimately closing deals. However, tedious duties often interfere with your salespersons, where BPO services can come in.
Your outsourced staff can manage building your contact list, prospect possible sale opportunities, and especially lead generation. In addition, it will help your in-house salespeople to focus on clients with the highest possibility for a sales deal.
Copywriting and Content Development
The communications your business can execute daily are unparalleled in today’s technological internet age. Articles, blog posts, social media posts, marketing plans and materials, media releases, website copy, and emails are essential to a business’s written communication strategy.
Copywriting and content development are highly skilled. So when it comes to your company’s brand image messaging, never subcontract this task to anyone who doesn’t have a great deal of experience and skill in strategic messaging and copywriting. Instead, let an experienced outsourced professional who knows how to develop compelling and persuasive content handle it for you.
Accounting
It is given that every business owner needs to understand their financials fully. However, that doesn’t mean they should spend the massive amount of time it takes to operate various accounting functions.
Bookkeeping, taxes, payroll, and more are frequently handled by vendors of different sorts. It is so common that there is an entire industry of accounting and payroll companies that have the capacity to service big and small companies alike.
To summarise, here’s how outsourcing helps your company’s reach expand :
- Widens your company’s perspective with the latest industry insights, trade secrets, and business practices that only the experts know
- Provides your company with greater scalability in your staffing and lower labour costs
- The latest tools and equipment will be available to your company without the heavy financial investment
- Renders your company an opportunity to run a more cost-efficient and time-efficient business
- Allows your company to concentrate on core competencies
- Free up capital
- Reaches global market
- Improves service delivery
- Engages with a diverse consumer base
To digress, here’s a summarised list of some of the common business processes, roles and responsibilities that you can outsource:
- Administrative Assistance
- Operations Management
- Human Resources
- Tech Support
- Sales Processing
- Copywriting and Content Development
- Accounting
There are other business processes, roles, and services that companies can also outsource, and you can learn more about them by clicking here.
Conclusion
Managing a growing business can be tough. To constantly scale your business, some things need to consider, such as costs and operational efficiency. That is why choosing to partner with the right outsourcing team is crucial. They can tremendously impact your business, maximise your exposure to potential clients, assure a steady stream of leads and allow you to expand globally.
Looking for a reliable BPO company to help you expand your business to greater heights? An excellent outsourcing marketplace like The Lead Enquiry can make it a dream come true for you. Contact us today.
