The justifications for outsourcing are well established but that doesn’t mean we know everything about this field of study. As organizations continue to seek ways to save costs, gain efficiencies, and protect or expand market share they’ve turned with increasing frequency, although not always success, to the art of outsourcing.
The goal is for the external team to be run like a virtual extension of your team, with communication flowing seamlessly both ways and no one experiencing any loss in productivity. This saves costs and time that can then be used on other areas that need attention and improvement.
According to a forecast, the global outsourcing market is estimated to generate a revenue of $435.89 Billion US dollars in 2028 alone There’s a solid reason behind the gigantic growth of the business process outsourcing industry.
BPO offers you flexible models suiting up to your needs and accomplishing exactly what you want cost-effectively and more profoundly.
Speaking of flexibility with BPO services, there are different BPO options you can choose from depending on your company’s preference of operations.
BPO services can be categorised into 2 segments. (i) Based on the type of operations handled (ii) Based on the location of the team of BPO service providers.
Let’s have a deeper understanding of what differences these segments offer in terms of flexibility.
(i) Categories based on type of operations :
1. Front-office BPO
As the name suggests, front office BPO offers you to outsource operations that are handled in a front-facing model. This means the operations that need interaction with the end customer for your business.
To give some examples, with front office BPO you can outsource operations like customer service, tech support, market surveys and more. These kinds of operations can be accomplished easily with front office BPO without building an infrastructure for in-house teams.
2. Back-office BPO
Back office BPO involves outsourcing the operations which are accomplished without interaction with people from outside of the business. This means that back-office BPOs don’t involve any operations that need customer interaction.
Tasks like book keeping and accounting, paralegal and compliance work, reporting and data management, and more can be accomplished with back-office BPO.
Leveraging back-office BPO to accomplish the above-mentioned tasks sets your time free which can be re-invested into the core business activities and revenue-generating tasks.
(ii) Categories based on the location of the team :
1. Offshore Outsourcing
Business operations when delegated to a team sitting overseas is known as Offshore outsourcing. Offshore outsourcing is often considered a popular choice amongst businesses as it offers a lot of benefits like low labour costs, lesser tax rates, and more.
A common example of these is developed countries outsourcing their business operations to the teams present in third world countries. This results in businesses getting qualified professionals at cheaper rates.
2. Nearshore Outsourcing
Businesses that need a team that works in the same time zone as them and speaks the same language outsources to nearby countries. Nearshore outsourcing means outsourcing certain operations to countries with common borders.
Nearshore outsourcing can help you get qualified resources at comparatively lower rates. The benefit of nearshore outsourcing is that the team operates in the same time zone and speaks the same language as you. This means an improved collaboration between your in-house team and the outsourcing team.
3. Onshore Outsourcing
Onshore outsourcing refers to contracting operations to the BPO service providers present within the Onshore outsourcing is preferred when the project or operations needs the team to have frequent visits to the business site.
With so many flexible to choose from, businesses can get accomplished peripheral operations and tasks easily and effortlessly. It is important to have a competent BPO service provider to ensure a fruitful collaboration of your business with the BPO team.
MSBC Group with its strategic presence across the globe in multiple locations and offices in London, San-Francisco & Ahmedabad is capable of accomplishing any kind of BPO need you might have for your business. Do check out what we have to offer as BPO service providers.
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