Outsourcing Benefits You Don’t Want to Miss

The term BPO stands for “Business Process Outsourcing” and is better known as simply “outsourcing.” It is basically the process by which a company can delegate certain functions of their business to a specialized organization that can get it done more cheaply, quickly and efficiently. BPO services have been the latest mantra in India today.

The BPO boom seems to be increasing every day with more and more companies deciding to follow the race, making conditions really viable for a positive growth in the BPO industry.

Business Process Outsourcing is one of the fastest growing segments of the Information Technology Enabled Services industry. It has hit the top of their list today. The basic of BPO services is specific and definite, do what we can do best and leave everything else to business process outsourcers. Companies are moving their non-core business processes to outsource providers.

BPO saves precious management time and resources and allows them to focus while building upon core competencies. In other words, BPO services can be defined as a strategic management tool that can help organizations to improve process level efficiency and effectiveness, as well as reduce costs.

Another great BPO benefit is that it helps companies to focus on core areas. Companies generally outsource processes to reallocate accountability and control costs. Thus the management is in a better position to focus on core areas, and not keep itself engrossed in other areas.

Outsourcing also helps companies to avoid capital expenditures, which is in particular important in non-core areas that may need new systems and up gradation. By and large, companies only want to spend money on core areas.

Business Process Outsourcing provides quantifiable benefits through improved efficiencies, lower overhead, reduced payroll and benefits expenses, and fewer capital investments. Other BPO benefits include assurance of best practices, skills, and technology.

It is important to note that BPO provides access to proprietary workflow systems, process re-engineering skills, and innovative staffing and delivery models, coupled with world-class technology delivered by experts. Another benefit of BPO is a reduction in costs.

Business Process Outsourcing is the act of giving a third-party the responsibility of running what would otherwise be an internal system or service. For instance, an insurance company might outsource their claims processing program or a bank might outsource their loan processing system. Other common examples of BPO are call centers and payroll outsourcing.

The Essential Roles of Data Cleansing to Business

Cleansing is vital to health, sustainability, and longevity. It applies to everything including
business data. Data cleansing optimizes the accuracy of the system, consolidate shared
information, correct corrupt records, and delete old or duplicate data.

So, how do businesses benefit from it?
#1 – It improves data quality.
The core of every business is the customer data.  It is important to have an updated,
accurate data so you can effectively address their needs. Improved data boost the
responsiveness and help you make smarter decisions.

#2 – It enhances your relationship with customers.
Data cleansing helps you offer the right products or services to the right customers. When
you offer them to the wrong customers, you will waste your time and money. Relevant,
updated customer data information will prevent these issues and boost the return on
investment (ROI).

#3 – It improves your customers’ perception.
Correcting misspelled names and addresses as well as other pertinent information is
necessary to show that you value your customers. A misspelled name is an instant turn-off
that can affect the result of your effort when you reach out.

#4 – It increases productivity.
A clean and improved database helps your employees become more productive. The
updated information of your customers makes them become more efficient in finding them
and sending the deliverables. It also prevents delayed or returned mail.

#5 – It influences the output of the manufacturing process.
If your data is showing inaccurate numbers, you will end up in under or over-
manufacturing of goods. An incorrect data can affect the orders of your retailers who want
to have adequate stocks for their own customers.

#6 – It reduces spam.
Spam messages are a big no-no. Repeated messages that enter the consumers' phones and
emails are annoying and make your customers irritated. Being spammed is a turn-off. A
regular cleansing of the database is necessary to prevent spam.

Now that you see how data cleansing can be advantageous to your business, it’s time to
look at your database and upgrade it.