The COVID-19 pandemic caught us by surprise and from early 2020 many businesses have been dealing with the challenges of balancing unpredictable cash flow whilst still providing efficient customer support. Business process outsourcing or BPO is an efficient, affordable and smart way to meet this need, with many companies reaping the benefits of experienced offshoring companies like Acxelsus.
As the Australian economy begins to rebuild, businesses seek ways to recover, with a pressing need to reevaluate work processes, customer experience, skills, and competency models.
Those struggling to adapt to the structural changes in everyday operations have no choice but to rethink certain aspects. Luckily, outsourcing standard business processes such as customer service, bookkeeping, and IT support is one of the most effective ways to recover from the pandemic. It allows businesses to scale up or down when needed and easily access a global talent pool to support full-time staff.
Let's explore some of the benefits of outsourcing and how you can leverage it to thrive post-pandemic.
Business process outsourcing (BPO) is a practice where companies subcontract essential tasks to other companies. These service providers are not restricted by location, making it possible to partner with companies outside the country - a practice also referred to as offshoring.
BPO contracts allow outsourcing a complete function area or specific processes within that main function area. For instance, you can outsource an entire department or focus on particular operations such as:
1. BPO Helps Your Business Save Money
Many companies find that much of their budget is allocated to employee-related costs such as training, onboarding, leave, worker's compensation and other HR costs. BPO presents a better way to work, with access to highly skilled and qualified workers already familiar with Australian business and communication. This means companies have an affordable option that eliminates the cost of hiring and maintaining new employees. By choosing a BPO company such as Acxelsus, you can minimise operational expenses by more than 50%, freeing funds that can go towards other vital operations, purchasing stockholdings, or other critical business processes. Additionally, outsourcing or offshoring business operations eliminates the challenges of managing a new team. This is because the outsourced staff are under BPO employment, cutting down the overhead costs you would otherwise incur to accommodate a large workforce. And, if business slows or the pandemic has another temporary but extreme impact on your business, you can scale down your outsourced team easily and without the hassle and stress of laying off full-time employees. This means your business can adapt to growth and demand with minimal inconvenience.
2. Workforce Flexibility
Business process outsourcing ensures flexible scaling of resources depending on business conditions. It allows companies to restructure business processes to react and adapt swiftly to market changes and demands. For instance, the pandemic caused significant economic disruptions, forcing companies to trim their workforce to stay afloat rapidly. As normalcy resumes, they encounter a new challenge of dealing with the same number of tasks but with minimal resources. It becomes difficult to scale without incurring crippling costs quickly. With BPO, you can provide uninterrupted service regardless of the scale of operation. It's the ultimate solution for Australian businesses that aim to rebuild and expand their businesses at affordable costs.
3. Enhanced Competitive Advantage
Although the pandemic caused global disruptions, the need to remain competitive in the market is more critical than ever. Every business must reevaluate all aspects to ensure a more valuable product or service. Using BPO services is an excellent way to adopt change through an experienced team of remote workers. You can focus on aspects that will give your product or service an edge over competitors. Regardless of the specific function you are outsourcing, it increases efficiency, lowers costs, and enhances the quality of your product or service. Australian businesses benefit from the flexibility and ability to scale cost-effectively. You'll also be able to reallocate the limited internal resources more efficiently.
4. Access to New Technology
With remote working the new normal, companies must embrace digital transformation. BPO companies have access to emerging technology that aids in business processes and new ways of enhancing customer experience. For instance, if your provider uses top-notch payroll and benefits management software, the positive impacts will also help your business processes. The accounting software can also make it easier to compute taxes and financial data. By contracting a BPO provider, you can access resources that help your business adjust to the dynamic market
As companies around Australia continue adapting to the changing face of the pandemic, it's evident that business owners need to be better prepared to manage unexpected changes in the supply chain, staff, or sudden government regulations.
Most of these challenges can cause economic and cash flow issues, highlighting the need for an adaptable workforce that can flex and change with your needs. That's why Acxelsus offers an all-rounded solution with a flexible team of full-time dedicated workers. Our experts can handle administrative tasks, customer service, data management, marketing and lead generation functions - swiftly and efficiently.
Plus, since there's only a small time difference between Australia and the Philippines, you can count on reliable service without any delays.
Get in touch with us today and discover a new level of affordability, scalability, and efficiency.
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Top tasks you can outsource to an offshore BPO team
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