When it comes to BPO, the digital market is expected to hit $3 billion in the coming years. Moreover, it is not surprising that the number of customer support representatives working from home is increasing at a rate of 36.4% per year. The success of your outsourcing project can be measured using these tips. The secret to determining the success of a business process outsourcing company is to make the appropriate predictions and assess performance using key performance indicators.
Businesses that outsource their operations anticipate increased output and efficiency. Nevertheless, determining whether or not your outsourcing venture is effective may be challenging. Despite the numerous benefits for companies, a BPO call center must carry out a few essential tasks to be successful, including quick onboarding, agent supervision, and data collection. Therefore, it is crucial for the success of outsourcing to evaluate the performance of the outsourcing provider against a few pre-defined KPIs.
What Should Be Measured?
Make a list of the goals you have for your organization first. Then, use various metrics to determine whether each goal has been achieved. A good scorecard is ideal for thoroughly estimating the value of your business goals. A typical adapted scorecard examines six areas: relationship, quality, cost management, delivery, system, and development.
How to Measure the Success of Business Process Outsourcing
What are the basic metrics to determine the success of a BPO?
- Quality of service
- Cost management
- Delivery of service
- Communication
- Strategy
- Growth and development
- Relationship
Other key measures are explained below:
SLA (Service Level Agreement)
This set of goals is usually associated with particular client-contracted projects. This can incorporate the attainment of abandonment rate targets and the average speed of answering calls. Take a look at the agreement and responsibilities of both parties involved in the contract and use this as a yardstick to justify whether each party is carrying out their duties or not. Consider the consequences if they do not carry them out.
Turnover of Agents
Agent attrition rates may be as high as 20 to 30 percent per year, according to statistics. While a contracted call center can reduce employee turnover if customer service reps work from home. Nevertheless, it’s essential that leaders monitor turnover rates. Likewise, since agents are the ones who engage with customers first. Managers must also take into account how the agents will promote the business in terms of how they deal with customers. In that regard, BPOs are more efficient than local businesses because they can choose from a wider group of applicants.
Analyze the Results
Outsourcing is still a key driver of a company’s development and success. It is a solution to your company’s challenges. Taking a deep look at the performance of your outsourcing company will help you determine its success and possible loopholes that can be worked on. Knowing where there is a need for improvement is not enough if you don’t work with your BPO partner to make things better. In every relationship and partnership, there is always a need to see how both parties are benefitting so it doesn’t come off as a parasitic relationship
Resolution of Conflicts
When you choose to outsource business operations to a third-party service provider, conflicts are inevitable. If you don’t include conflict resolution, your KPIs for monitoring the entire process of outsourcing business operations will have a negative impact. In order to reduce conflict and boost productivity, the communication point must ensure that both sides are adhering to the rules.
Conformity to Procedure
Customers today are impatient, and when they run into issues, they want them fixed right away. What then do BPOs do to guarantee that agents respond as quickly and effectively as possible to customer concerns? It all depends on the procedure used and the standards set.
Managing complaints
Each business must manage complaints both inside and outside the organization when interacting with customers or other businesses. There will be complaints during the procedure. Create a procedure for handling complaints and issues and ensure that the feedback period is short; otherwise, there will be concerns from customers.
Conclusion
Business Process Outsourcing has lots of benefits, from cost-effectiveness to efficiency to the management of resources to having access to a wide range of talents. BPO for call centers is especially beneficial since call center agents don’t have to see customers before they can relate. This then means agents can work from any part of the world to handle your customers. EmpireOne Contact Center makes use of various KPIs to measure performance and ensure quality delivery of service. Your company will be able to focus on core tasks, thereby increasing productivity. Do you want to give your customers a better experience? Get in touch with us at EmpireOne Contact Center to learn more about our amazing offers.
