Even though companies have leveraged business process outsourcing (BPO) for decades as a means to build stronger, more efficient, and more profitable companies, it quickly became one of the hottest terms as the coronavirus pandemic set in. Moving forward, as organizations continue to pivot and rethink how they’ve been operating, its prevalence will continue to grow. Below, we’ll explore some of the reasons why companies are considering BPO now and what’s behind the shift.
Existing Business Continuity Plans Weren’t Enough During the Pandemic
Having a solid business continuity plan ensures your business is prepared for anything. It means that whether there’s an earthquake, fire, flood, or even civil unrest in the area of your physical location, your business operations will continue uninhibited or can be brought back online quickly.
As Nina Brown, DATAMARK’s Vice President of Client Solutions, explained in a recent webinar on business lessons learned from COVID-19, just 10 percent of businesses without a continuity plan survive. Yet, very few companies had plans going into the coronavirus pandemic. Even those that did address specific workflow components impacted by the virus didn’t necessarily catch them all or adequately test their plans to ensure continuity in advance.
This in mind, organizations are acutely aware of the fact that they need better continuity planning. Still, they don’t necessarily know how to get those processes in place or don’t have the bandwidth to begin implementation. They’re looking to business process outsourcing companies to bridge the gap so future unplanned events won’t impact their operations.
Coronavirus Showed the World Physical Proximity isn’t Necessary
When we recently spoke about how COVID-19 is redefining the customer experience, we noted that customers—even the most resistant to adapting to technology—have learned to leverage tech in customer service situations and now often prefer it to other methods. The same phenomenon is being seen with how businesses work too. Even those who were once resistant to leveraging remote teams were forced to adapt for a period of time. Because of this, they’ve come to realize that they can maintain service levels and retain their business brand reputation regardless of where their teams work, provided they have the tools and resources in place to support the model.
Legacy Systems Crippled Attempts to Pivot
Despite the major trend toward cloud-based solutions and newer technology in general, many organizations have held onto their legacy software, building multiple workarounds or requiring teams to leverage several systems to complete a simple task. While they may have known that shifting would make processes more efficient and often build continuity into their processes organically, updating systems was seen more as something beneficial, but not exactly necessary. It was something they’d put on their wish lists for when they had more time or could focus energy and resources into an overhaul.
Unfortunately, the older tech crippled these organizations when quarantines took hold and continued as social distancing became part of the business vernacular. The value of business process analysis and reengineering processes to suit an organization’s needs and goals is now widely understood. To fill this need, companies are turning to BPO firms that specialize in business process improvement, like DATAMARK.
Organizations Learned More About Digital Security
Many organizations have held onto the outdated notion that the only way they could keep their data secure was by keeping it in-house. Although countless headline-making data breaches and mishaps should have already proven otherwise—that in-house doesn’t always mean “more secure”— what caught organizations most off-guard about coronavirus in this respect was that they suddenly had to adapt to cloud environments and they didn’t have the security measures in place to make it happen.
Although transitions haven’t necessarily been smooth, businesses have had to adapt and create digital security protocols. Now that they’re in place, they’re more open to the idea of leveraging more tools, processes, and technology. Companies such as DATAMARK who abide by all client requirements for compliance and/or certification of 3rd-party regulations including, but not limited to, PCI and HIPAA, are not only able to help companies apply multiple layers of security but can deliver powerful, transformative tech they need to thrive.
Automation Became Central to Lean Operations
Research from McKinsey shows businesses that automate can save 20 percent on labor, plus benefit from faster service, increased flexibility, and improved service. They tend to have better insights on how to improve their performance too. Yet, companies have continued handling processes manually, thinking of business process automation the same way they thought about updating their legacy software—something nice to do sometime in the future.
The problem is, coronavirus resulted in massive shutdowns and stalled the economy. Organizations that couldn’t run lean fell behind or shut down. Moving toward the future, organizations want to leverage automation and AI to the fullest extent possible, and they’re turning to business process outsourcing companies for expert advice and implementation.
Build Your Ideal Business Process Outsourcing Solution with DATAMARK
For more than three decades, DATAMARK has provided government agencies, Fortune 100 companies, and other large organizations with business process outsourcing services. Customized to suit the needs of each company, services range from outsourced contact centers through digital mailrooms, data capture, accounts payable/ receivable, and more, all while leveraging the latest tech, fusing automation with highly-trained teams, and addressing security needs. If coronavirus has your organization rethinking BPO, connect with DATAMARK to find out what solutions will help your organization transform. Request a complimentary consultation.