In a highly competitive environment like today’s, choosing a reliable outsourcing provider is challenging. The number of BPO firms is growing. The quality of services provided by most firms is not up to date. If you have decided to outsource your business processes, the next step is to find the best BPO.
A part of finding the best fit is to ensure the best outcome from an outsourced service provider. However, getting the best out of a third-party service provider is hectic unless you have proper guidelines. This article aims to provide a step-by-step guide to ensuring the best outcome from a BPO company.
Ensure the Best Outcome from a BPO
Every business must either seek safe investments or mitigate its risks in order to capitalize on the opportunities given by the crisis. Thus, the expected outcome from a project must be well-defined and quantified in order to ensure transparency in tracking progress. We have provided 4 steps to ensure the best outcome from a BPO.
Step 1: Choose a Potential BPO Company
A well-reputed company has more experience in the market and the ability to handle your task more professionally. You can avoid a lot of unnecessary risks by choosing a reputed company. The rise of underground BPOs has made it tricky to find suitable companies by only reading about them online.
Additionally, a background check on the firm is important. Check if the firm has eligible manpower to run your project.
What to do?
Make sure that the company is legally registered
The company should be willing to sign a service level agreement (SLA) and non-disclosure agreement (NDA)
Validate their previous experience by checking with their clients
Check net promoter score (NPS)
A non-disclosure agreement (NDA) is an agreement between two parties stating that they will keep sensitive information provided by the company confidential.
A service level agreement (SLA) is an agreement between a service provider and a client. A BPO firm should use the SLA as you agree upon the potential contract.
Net promoter score (NPS) is a common metric used by BPO companies to measure the loyalty of customers.
Step 2: Prepare a Strategic Plan
A company needs a strategic plan before introducing any new process to the system. The strategic plan should include the mission, vision, and expected outcome of the company. The BPO company will get a clear route map to follow if provided with a clear strategic plan.
What to do
State the company's mission, core values, and guiding principles
Identify the competitors
Make sure your goals are measurable with the outcomes
Provide a set map of action plans for
Explain the evaluation methods
Step 3: Evaluation Process
Outsourcing evaluation should be clear, disciplined, and feasible. The evaluation process should measure the time required to complete a task, the budget required, the resources required, and the outcomes. It should have a precise negotiation process with the BPO service provider.
Most companies have well-defined KPIs to evaluate the outcomes. KPIs should also be followed by outsourced services. I will explain a few KPI tracking metrics.
Service level: Indicate the number of services you have acquired from the BPO.
Lead to conversion: Measure the number of customer conversions your business gained from the outsourced services.
Cost per conversion: Calculate how much you've spent on each conversion.
Customer satisfaction (CSAT): Check if the service level is satisfactory. Get customer satisfaction scores and find the ratio.
Step 4: Risk Preparation
After taking a lot of precautions, you still can not ensure the 100% success of your project through an outsourced service. Even the best outsourcing firms in the world have records of failure. You should always prepare for the odds.
The reason for the failure of BPO services
Your outsourced service may fail if you do not have clear expectations and a risk assessment module
Outsourcing provider companies lack technological advancement
You have a lack of control over the task
The method of communication is poor between you and the BPO
Your outsourced staff are not eligible for the job provided
What to do
Pay attention to your strategic plan. See if anything is missing. Validate the findings after the evaluation.
Maintain a strong communication channel
Monitor the jobs regularly to find errors and suggest solutions to the BPO provider
Do not rush to make decisions
Switch the provider if none of your performance improvement strategies work
Final Note
Outsourcing can be the best service solution for many businesses to stay competitive in the market. There will always be challenges to achieving the best-expected outcome. Make sure you have the right execution plan for the outsourced services. We hope, our guide above will help you to ensure the best value from an outsourced service.
Are you looking for the best outsourcing provider for your next project? ASL BPO is one of the top 10 outsourcing service providers in Bangladesh. At ASL, we ensure the best service level and successful outcomes of various opportunities across industries. We have a team of dedicated professionals to handle your outsourced tasks professionally. Contact us for more information.