Crisis management is on the minds of a lot of business leaders today. While market conditions and the economy can’t be helped, those who make savvy decisions are not only likely to weather the storm but come out stronger and grow afterward. As you try to navigate these challenging times, it’s a good idea to explore business process outsourcing (BPO) and how it can help give your organization the strategic edge it needs to stay ahead of the curve. Here’s a quick look at how BPO shines in times of crisis.
Historically, continuity has been thought of in terms of natural disasters. A fire at a facility, blizzard, or hurricane can easily damage buildings or simply make it impossible for employees to travel to work. Coronavirus has taught many the unfortunate lesson of just how easy it is for an organization to be taken offline. Customer contact centers can close, resulting in poor service and missed opportunities. Mailrooms can shut down or be short-staffed and sluggish, stopping companies from collecting the cash they need to survive and shutting down communication. Accounting departments can vanish, resulting in mounting late fees and failed accounts receivable processing too. A BPO company offers continuity in a variety of ways, such as by leveraging the cloud, spreading out the workforce, and automating the process.
After the Great Recession, Harvard researchers discovered that the businesses that survived the downturn and thrived in its wake were those that focused on organization efficiency, not just making cuts. At its heart, this is exactly what a BPO company does. It makes business processes such as data capture, data entry, mailroom services, accounting, and customer service, more efficient.
Improved efficiency produces a number of benefits. First, it means the team can do more with less. You can reduce chairs without overloading employees. Secondly, it’s huge for reducing operating costs. Organizations can further reduce costs by choosing to outsource specific processes offshore or through nearshoring, though the efficiency gains still result in greater profitability for those that choose to outsource onshore or even on-site.
Undeniably, crisis creates stress, and stress has a profound impact on the way people function. Research shows that stress actually creates physical changes within the brain. People have a harder time remembering things, suffer from brain fog, are more error-prone, and more. That presents huge challenges for any organization weathering a crisis, but when companies react by downsizing and adding more duties on top of what they’re already doing, it’s a recipe for disaster. BPO companies allow the core team to focus on what they do best, and as such, allow leaders to focus their efforts on creating strategies that will drive the organization forward without all the noise that comes from managing periphery tasks.
If your in-house team fails to meet its goals, your organization is the one on the hook for finding the remedy and for absorbing any associated costs. When you work with an experienced BPO company, service level agreements (SLAs) can be built into your contract. When you work with a company like DATAMARK, accountability is never an issue because we love sharing data that demonstrates the value we’re creating for the organizations we serve. However, SLAs can be a part of your contract anywhere, providing a measure of assurance that a crisis will never derail your continuity, efficiency, resource conservation, or focus.
Whether your organization is actively strategizing crisis management methods, or you simply want to make your company more resilient and scalable, we can help. With three decades in the industry, DATAMARK offers a variety of BPO solutions that will keep your organization moving in the right direction. Contact us to learn more.