This blog will cover the tips that will help you while selecting an outsourcing partner. Also, we will have a look at the process to be followed while selecting an agency for outsourcing.
Before diving into tips for selecting an outsourcing partner, let’s have a look at what it implies. Outsourcing simply implies is receiving "sources" from "out" – outside., it's usual practise among companies to hire a third party to perform services and create goods on their behalf.
Tips for Choosing the Right BPO
1. Experience and strength of the firm:
The most important while choosing a firm is that it has comes proven track record and tons of experience. With experience comes domain expertise and the knowledge to deal with difficult situations in the business processes. This gives them an edge over newbies. Over and above expertise, they have competitive leverage in the market compared to their competitors. Also, gauging the firm's strength in terms of its resources is equally important.
2. Data Security
While selecting an outsourcing firm, it is given that a company will share sensitive information with the third-party service provider. In such a case, there should be no loose ends in terms of Data security. It is essential to determine whether the company has appropriate security policies, like a non-disclosure agreement. Also, before joining hands, you must verify that the outsourcing agency has the latest cybersecurity devices that will safeguard against theft.
3. Compatibility of Technology
It is a misconception amongst new firms that an outsourcing partner should have the latest technology. Instead, ideally, the partner should have compatible technology. It implies that the technology practices must align with the business process they are working on. A company can be more successful when its approach is integrated with that of its outsourcing partner, and both are working together to achieve holistic goals.
4. Scalability
The aim of opting for outsourcing in the first place is to accommodate the possibility of stability in future. So that a firm can focus on its current strengths while giving non-core functions to a third party as outsourcing. Given that, every company should choose an outsourcing partner with the ability to offer scalability in future. Work commitment alone would not do much unless it offers scalability regarding resources and facilities. Having it implies reduced overhead costs to the client even if more requirement emerges in future.
5. Quality Assurance and infrastructure:
One of the vital aspects that need to be considered while selecting a service provider for your company is quality assurance. Go through a stringent and critical decision-making process to ensure that the quality is per your expectations. Quality comes from having a good infrastructure backup. So always ensure that an outsourcing service provider has all the required infrastructure like high-speed internet, phone connectivity, besides the required hardware and software.
6. Cost-Effectiveness and time took.
One key consideration that makes a firm select an outsourcing partner is its cost. Although, at times, it may not be the only factor,but it does affect a lot. So always be sure to check for the cost-effectiveness of an outsourcing partner. To do so, one may compare the prices quoted by a few outsourcing companies and verify the quality of their services. Do not assume the positive relation between cost and quality; instead, go for verified testimonials. Going this extra mile will be wise, considering that every company has limited financial resources. Also, in parallel to cost and quality comes the possible time frame of task completion. A firm may be very cost-effective by providing reasonable quality, but how feasible it would be for you if it takes double the time compared to its peers.
7. International regulations
When you are on the lookout for international service providers, it becomes vital to ensure that the law and regulations allow you to partner up. Plus, make sure that the agency fulfils all legal requirements you might require to adhere to in your country. At times, political and legal conditions in two different countries take a wrong turn, affecting the associated business adversely. To avoid such future loss, scan the legal requirements and their compliance by the agency in advance.
Process of choosing an outsourcing partner:
It might be overwhelming to pick the right outsourcing company for your needs as so many options are available in an open market.
So let us have a look at a step-by-step guide, to make this process of choosing your BPO service provider easy
1. Jot down your Business Requirements
Understand your needs as a firm that you expect from an outsourcing provider. Based on these requirements, develop evaluation criteria to use while comparing service providers. For instance, some firms may have more weightage on criteria of expertise, whereas others may be looking for price or cost criteria during selection.
2. Narrow-Down Your Selection
We can now shortlist a few companies based on the criteria selected in step one from the vast pool of service providers. Basically, it is a comparison to narrow down the options to a selected few that fit the criteria best.
3. Set Up a Test Project
Now that you have shortlisted a few don't be in haste to select one of them. Instead give them a test project to provide proof of work. It will act as a pilot project that can help you evaluate their performance and work in case you partner up with them.
4. Assess Their Performance
To evaluate their performance, simply rank all your shortlisted companies whom you assigned a pilot project. The ranking is to be done based on their performance against the expected benchmark. This will give you a fair idea of whether or not it will be a good decision to hire them as a service provider.
That's all there is to it. After assessing their performance, you will know who will be the best fit as per your expectation. Select that company. But also, once you select, do not forget to revisit the evaluation procedure on fixed intervals to ensure that the parameters responsible for their selection are still intact.
Do check out our other blogs on outsourcing and also you can post your queries in comment section of blog.
Happy Learning folks.
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