The 21st century brought us innovation, advances in technology, and convenience. The BPO sector is one of those many innovations that has also brought about convenience. Companies are now seeing the benefit of multinational BPO services and are taking advantage of the many services they offer.
If you’re launching a startup or any other kind of company in the US and you wish to serve an international market, the BPO sector may just be able to help make this happen. Day Translations offers these services, and with 15 years in the business, you can trust us to expand your business internationally.
Let’s Zoom in on multinational BPO services and where it can take your business in the next year!
What Are Multinational BPO Services?
BPO means Business Process Outsourcing. This business model provides third-party services to other businesses on a contractual basis. As a business, investing in business process outsourcing means that you’re allowing them to handle specific operations on behalf of your business.
When the BPO sector first came on the scene, businesses would outsource the manufacturing aspect of the business. They did this as a way to save money on labor costs. Fast forward to today, many businesses across numerous industries and across the globe, use the Business Process Outsourcing sector to save costs on a wide variety of essential services they would have normally have done in the office.
Typically, a company may choose to outsource either front-office or back-office processes because they don’t have the resources for staffing or any other supporting functions in-house. Front-office functions include any form of customer service (whether over the phone or online), marketing functions, or sales. Back-office functions include vital functions such as Accounting, Information Technology /IT, Human Resources/ HR, or processing payments.
When businesses choose to outsource their front-office or back-office processes, it proves to yield better results because the jobs are done more efficiently and accurately and at a lower cost.
What Are The Different BPO Services?
At the moment, the BPO sector continues to grow and includes two major types of services. They are:
Knowledge Process Outsourcing or KPO – In this area, BPO’s provide businesses with their advanced expertise in areas such as:
- Accounting and Finance
- Website Design
- Content Creation
- Legal Processes
Because the legal system can be so broad and complex it is separated as a subset of KPO. Another subset is known as Research Process outsourcing/ RPO also exists and is data driven. A RPO attracts companies such as marketing agencies and businesses in the pharmaceutical group of companies.
Information Technology Enabled Services or ITES – This type of BPO handles all things IT and provides customers with solutions in this area. The areas of specialization for ITES include:
- Service Desk Analysis
- Technical Support/ Tech Support
- Production Support Analysis
On a broader scale, we can further break down the two major BPO service types into 5 common solutions for businesses. These are:
Customer Support may be the most popular BPO solution for companies no matter the industry. The more businesses grow, especially on the international scene, the more customers they receive. With more customers come more inquiries and purchases. As long as growth is scaling rapidly, more staff is required to manage the influx of customers. To save your company the cost of hiring and training additional professionals, why not leave it to a sector specializing in such solutions?
Outsourcing customer support allows 24/7 assistance right across the globe with the additional benefit of multilingual customer support specialists. It’s a win-win if you ask us. At Day Translations we offer Omnichannel Outsourced Business Services that are perfect for you.
Through high-quality services, your customers will receive all the assistance they’ll need.
Although Data Entry is usually an entry level task, it becomes daunting especially when there’s an influx of data that needs sorting and manual entry into systems and databases. It is also very time consuming.
The simplicity of Data Entry does not take away from it being a necessary function for a business’ operations. If your company has limited human resources, for example, outsourcing data entry proves to increase productivity and the ability for you to focus on more important tasks instead.
Day Translations offers global back-office solutions to ensure a smooth and effective running for your business. Let us help you to not only keep a record of your data but also manage it.
Taking advantage of external hiring agencies is becoming the norm these days. By outsourcing your Human Resource department, the hiring process for example is cut in half.
Outsourcing your HR department also means that training and integration takes a deeper focus, filing and legal matters attract more focus, and payroll issues are solved faster and dealt with in a more efficient manner.
Accounting and Finance
Also on the list of popular BPO services is Accounting and Finance. Having a dedicated team to focus on all your finances is a plus. Many BPO’s in the accounting and finance sector help to add value to businesses. Not only do they handle accounts, but they also assist companies with budgets, audits, and doing financial forecasts.
Your business will grow with their specialized services in market research, managing investments, and providing important financial insights. Your accounts and finances receive the attention they need from a dedicated BPO specializing in accounting and finance.
The importance of marketing cannot be overstated. More companies are seeing the benefits involved in investing in marketing and so it is now a popular service to outsource.
From Search Engine Optimization (SEO) to Market Research, the possibilities are endless and the benefits are sure when companies outsource their marketing. Think about how much undivided attention will be paid to your company’s landing page, detailed content creations, and the conversion of leads to customers; your company is sure to stand out among others when an investment in marketing becomes a priority.
The Benefits Of BPO
Investing in Business Process Outsourcing comes with many benefits, many of which helps your business meet and, in some cases, exceed its objectives. Some benefits of BPO include:
Saving on costs is by far one of the main reasons why BPO’s do so well and why businesses gravitate to their services. By outsourcing some services, companies are able to focus on their core competencies without having to compromise on time or talent.
Upon signing a BPO contract, your business is afforded the opportunity to change or modify how a business process is carried out. Therefore, if there are any changes to the market the company gets the opportunity to quickly adapt and move forward.
Access to Skilled Talent and Tools
A Business Process Outsourcing company’s focus area is their specialty. This means that their core area of business focuses solely on a particular area. That said, hiring a BPO means that you gain access to experts in their field whose sole purpose is to make the processes of your business better and more efficient.
The cost of the service goes down because the tasks are specific to one area. This increases productivity and eventually fosters growth for your company.
The BPO sector has come a long way and is now an innovative way to do business and get critical tasks done at an affordable rate. If you have a business in America and wish to take it to another level both locally and internationally then Day Translations can help.
DayBPO offers multilingual, multinational BPO services that will no doubt, strengthen your brand and improve your customers’ overall experience. Imagine the possibilities of putting virtual offices for your business all over the world. Countries such as China, India, Turkey, and also in the European region.
Get in touch today to see how we can help.