There is no doubt that Business Process Outsourcing (BPO) has been a major game-changer for businesses worldwide. However, some business owners and managers hesitate to use BPO, especially when the company is new.
However, the simple truth is that new businesses may benefit more from BPO than more established businesses. And on top of that, BPO may just be the key to expanding your business and helping you achieve the full potential of your entrepreneurial dreams.
If you’re still on the fence, keep reading to learn what, exactly, BPO means to new businesses.
What Is BPO?
Business Process Outsourcing is a process where one company hires a third party to provide certain important services for the business. The exact services they provide depends in large part on what kind of BPO you need.
For example, many businesses prefer that BPO take care of “back office” operations. This includes things like QA, IT troubleshooting, payment processing, and so on.
But some businesses prefer that BPO take care of “front office” operations. This may include customer service, sales, marketing, and more.
Now that you know a bit more about what BPO is and how it works, let’s review some of the ways that BPO can truly benefit a new business.
Save Money With BPO
New businesses tend to be smaller operations. And small companies usually don’t have a lot of spare cash. And this is why many new business owners hesitate to use BPO: they think it is a cost they cannot afford to pay.
However, one of the best things about BPO is the fact that it can save you a lot of money. How so? It mostly comes down to saving you money on employee wages and investments in hardware and software.
For example, payment processing is crucial for any business. But for a tiny business, hiring an accounting and billing team (complete with salaries and benefits) may be very expensive. But you can achieve the same result by using BPO for processing payments at a fraction of the cost.
Ultimately, BPO does more than pay for itself. It actually provides ongoing savings that will help your new business grow and thrive.
Focus On What You Do Best
As we said before, new businesses tend to be smaller businesses. And that means you likely are working with a very small team. Chances are that you picked each team member for the unique talents they bring to the table.
However, once you start running the business, you may quickly discover that everyone has to wear many different hats. While nothing is wrong with everyone pitching in and doing other tasks, it can eventually affect the quality of their work. This is what inevitably happens when your hired specialists can’t focus on the task you hired them for.
This is where BPO comes in. By outsourcing to a good company, you can let third-party professionals handle the needs that your team cannot easily cover. This lets everyone focus on what they do best while making your entire operation more efficient.
Taking Efficiency To the Next Level
Once you own or manage a business, it really is all about efficiency and productivity. All it takes is a dip in productivity to let the competition get one over on you. And a major increase in efficiency and productivity may be enough to put a new business on the map.
BPO boosts efficiency and productivity for the reasons we outlined before: instead of giving extra tasks to untrained employees, you can outsource those tasks to third-party specialists. It won’t be long before your entire business is running with the efficiency and precision of a Swiss clock!
Expand Your Business With BPO
If you have a small business, chances are that you don’t want to keep it that way. In fact, most small business owners dream of expanding their business so that it can reach the full potential the owners have always dreamed of.
And this is the real power of BPO: it helps you to expand your business on a number of different levels. For example, BPO can help your business grow early on because outsourcing helps you accomplish the same things a larger business can do even with a smaller staff. And by keeping up with your larger competition in this way, you will eventually be on the same level.
Later on, though, BPO can help you expand in some unexpected ways. Perhaps the BPO company has specialized knowledge of domestic regions you will expand into or even specialized knowledge of international regions for businesses that want to go global.
By working with a good BPO company, you can benefit from their knowledge and connections.
Great For Businesses Of Any Size
A good outsourcing company can effectively scale with your business. That means taking care of different needs as your company grows. For example, you may start out needing help with back-of-the-office operations. But as your business grows, you may find yourself needing more assistance with front office operations instead.
The answer is simple: if you want to grow your business, find a BPO company that is able to grow alongside you and adapt to your changing needs.
Grow Your New Business With BPO
Now you know what BPO means to new businesses. But did you know Confie can help you grow your business with BPO today?
We have mastered BPO to help transform businesses just like yours. To learn more about what we can do for you, your employees, and your business, all you have to do is contact us today!