Technology is a thing that is continuously changing and also transforming many industries including the BPO industry. With every new innovation, the business incorporates this software or hardware to improve bottom lines, boost employee performance and deliver a better customer experience. Now, cloud computing, smartphones, tablets, social media and much more are welcomed aspects of the business process and contributed to improve revenue, performance and customer experiences and keep the enterprise running smoothly.
Previously, businesses were going for the BPO sector to get solutions towards cost reduction and profit optimization. But in recent years, technology has played an important role in changing the evolution of the BPO sector especially with new technological trends like big data, mobility and cloud computing. Technology helps to combine the strengths of process innovation, domain expertise and industry insights to accelerate growth. Big Data offers a predictive analysis which makes business more productive, offer better customer service, allow real-time data tracking and robust business decision making. Many businesses across industries have started using cloud platforms to geographically expand their business, store data and business applications on the cloud.
There are many ways in which technology is changing the landscape of the BPO industry. Some of them are as follows :
Big Data
BPO sectors are adopting this new technology i.e. big data as the source of creating value in a business. BPO companies have a large amount of data that needs to be extracted and analyzed to deliver critical information. Big Data offers a predictive analysis that is highly profitable of BPO companies because of the volume of data they gather. With this, they can analyze current data and they can generate strategic insights for their clients and build better customer relationships. Clients get the actionable insight into their business operations through the analysis of data which enables them to improve working capital management and increase customer acquisition, satisfaction, and retention. Analytics help BPO companies to identify customers who are going to add more revenue and can build a one-to-one relationship with them and later can create a community of their most loyal customers.
Big data is also changing the BPO industry by helping in the recruitment process. Finding and hiring the right candidate is a time-consuming process. Big data provides an automated application process that allows companies to predict which candidate should be called for an interview and who shouldn’t get an interview which saves time for recruitment.
It is very clear that big data is a very important factor in the BPO industry and they are implementing this predictive analysis for adding value to the business.
Cloud Computing
Cloud computing provides businesses a virtual platform for computational services which allows them to stay competitive by moving their data to the cloud platform. It has made data retrieval and sharing very fast and taking the BPO industry to another level. Cloud computing can be used for various services over the internet that includes servers, software, databases, networking, storage, etc. It offers greater flexibility to businesses and provides an innovative technology that boosts performance and productivity, makes things convenient and far more efficient than ever. The cloud platform provides easy collaboration and communication between the outsourcing party and the remote team which allows smooth flow of information between the teams.
Cloud computing helps to create new efficient services by which resources are managed more seamlessly and efficiently across the organization. It also takes away the huge cost associated with the maintenance and upgrade of software, renewal of licenses, maintenance of infrastructure as well as the employment of technically skilled staff for software upkeep. Cloud computing is the right way for businesses to improve their efficiency and enhance their competitive edge. Businesses can get a competitive advantage if they integrate technology into their business operations.
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For instance, forms including straightforward information development, checking, approval, and the total can be mechanized to lessen blunders.Automation guarantees minimal mistakes and better consistency, prevalent occupation fulfillment (by taking out redundant work), progressed logical bits of knowledge, and convenient conveyance of work.
As per an industry review, Robotic Process Automation (RPA) is generally utilized in the IT and F procedures of the BPO division.
However, computerization in the BPO and ITES areas in India has included some major disadvantages.
By sending RPA, different associations will never again need to re-appropriate their back-office or client call focus tasks, because of chatbots and self-improvement applications that answer client inquiries with insignificant human cooperation.
To place things into point of view, Gartner proposes that about 85% of CRM is required to be robotized by 2020.Various well-established managerial customer confronting associations are additionally considering what comes subsequent to redistributing.
Activated by the innovative progressions in RPA, the BPO division is relied upon to advance in the most fascinating way.
To make customers happy, BPOs deploy feedback strategy to ascertain what they like, prefer and which point motivates them to incline to a brand.BPOs To Deal With BottlenecksAn interesting fact proves that 24% of workers prefer to give up their jobs if their manager provides inappropriate performance feedback.
What if a mass resigns due to this reason?Certainly, the production will suffer a lot, disturbing overall profitability.
Feedbacks for Customer Grievances Feedbacks are strong reactions that you receive from your customers upon servicing.
Four Ways To Get Reviews Here is a roundup of four ways that BPOs have expertise in providing the outcome to you without getting distracted from the core practices.Customer Preferences These preferences are expectations, likes, dislikes, inclinations and motivations that actually move customers to purchase or run away.
Possibly, there may be many other ones who might be countering similar challenges, like higher price, lack of features and many more ones.
Customer Support Satisfaction FeedbackDifferent from the foregone types of feedbacks, it evaluates how well or unwell you have served your existing customers.
BPO earnings continue to increase for the past decade, showing its potency as a profitable sector.2020 felt just like the year that the generated earnings of the Philippine global outsourcing started to decline.
The situation resulted in the deterioration of the revenue projection for the rest of the year.
The IBPAP also expects the BPO industry to rebound with a much stronger showing in 2021.
Outlining the Advantages of Outsourcing to the PhilippinesBefore diving into the government's efforts for the BPO industry, you must understand how the sector became the recognized financial pillar of the country.
Globalization paved the way for BPO services worldwide to flourish.
One of them is the Philippines, with over 800 BPO businesses providing outsourcing and offshoring solutions for growth and success.
Davao has long been recognized as a major global city in the Philippines.Open Access BPO Targets Market Flexibility After Davao Office Launch [2015] Its economic strength, agile technical capabilities, progressive city infrastructures, and population of qualified professionals make it a sustainable location for offshore investments.
Local organizations and foreign analysts frequently recognize Davao’s attractiveness for business process outsourcing (BPO) and call center operations.Open Access BPO launched its operations facility in the middle of this bustling city in 2015.
Davao hosts one of the BPO company’s six global offices and second operations site in the Philippines.Now in its sixth year, with the growth of its programs and workforce, Open Access BPO Davao continues to be the firm’s stalwart campus down south.Diverse solutions for a changing worldOpen Access BPO expanded with its southern facility to offer diverse locations in the Philippines and access to highly qualified talent.Some of our Open Access BPO Davao teammates during a pre-pandemic office event“Davao provides educated and skilled English-speaking agents with substantial savings over our operations in Makati, Taipei, and Las Vegas.” CEO Benjamin Davidowitz stated.
“More importantly, Davao’s operation meets Open Access BPO’s high standards of customer satisfaction and client metrics.Our Davao office launched its first program shortly after the unveiling of its 546-square-meter campus.Our Davao family continues to grow as we roll out new programs and expand current ones, with operations running 24/7 to ensure prompt and proactive support for our clients.
It is currently responsible for running six programs across different industries, including healthcare, IT and software development, service/gig economy, and cloud service management.We have over 200 skilled agents, their program leaders, and other campaign support teams, managing client-customized processes and initiatives that heighten customer experience—from recruitment and training to quality assurance and performance development.Open Access BPO Davao leads the march to provide quality solutions like data entry and data management to multinational firms looking to expand in Asia and Europe.Open Access BPO Davao during the pandemicOur responsive business continuity strategies ensure that service delivery remains unhampered even as we keep our people safe from the threats of COVID-19.Constant communication between the teams, their clients, and their customers was maintained throughout this period of blended work setups and remote team management.
With this in place, we have been providing seamless and uninterrupted services to our partners no matter what may threaten productivity and service delivery.Our Davao coworkers were also among the first in the company to be vaccinated against the virus.
