Business process outsourcing is a rapidly growing service sector as more and more companies switch to outsourcing as a means of lowering costs, reducing overheads and implementing additional efficiencies in their everyday operations.
With access to a global talent pool and advanced automation and cloud-based collaboration technology, outsourcing offers competitive advantages in addition to standard perks like lower costs, hassle-free data processing and higher accuracy.
Another reason behind the increased demand for business process outsourcing is that it enables decision-makers like CEOs/CFOs to focus their precious internal resources on developing core business while outsourcing tedious, repetitive tasks to a specialized remote team.
As outsourcing becomes a part of standard business strategies to achieve operational efficiency and gain an edge over the competition; here are the top trends that will define business process outsourcing solutions in 2021:
It’s Time to Build Strategic Business Process Outsourcing Partnerships
Outsourcing has moved beyond simply delegating repetitive tasks to a trusted third-party partner to building strategic partnerships that help push a company towards success.
The business process outsourcing landscape has changed, earlier we saw short spurts of outsourcing whenever a company found itself overworked. Now, most company CEOs are making executive decisions based on the feasibility of performing time-consuming and labour-intensive processes in-house versus outsourcing them to a specialized partner at a fraction of the cost.
As a business process outsourcing company, ARDEM has customized solutions for its clients for over 16 years, building long-lasting relationships with our clients that go as far back as 13 years.
Once a client gets started with us, our speedy response, strict adherence to deadlines, and advanced reporting features ensure that they expand their contracts to incorporate additional services with every passing year.
Working with our partners side-by-side, ARDEM builds successful remote teams and advanced solutions that transform their raw, unstructured enterprise data into sharp business insights that help them work smarter.
Companies Will Continue to Seek a Way to Drive Down Costs
In today’s age of breakneck competition, companies must exploit as many tools as they can to their advantage. A high-operating cost eats into your profit, limits your ability to expand, and is often the result of wasteful practices or slow, outdated workstreams with long-incurring redundancies.
As CEOs and CFOs seek ways to ensure smoother internal operations while driving down their costs for an improved bottom line, outsourcing is fast emerging as a convenient option.
The reasons that make outsourcing such an effective tool for achieving this are two-fold; first, outsourcing carries out your internal operations at a fraction of the cost. For instance, ARDEM’s outsourcing solutions promise an immediate reduction of 30% in your operating costs with higher returns as the partnership continues.
Secondly, outsourcing is no longer limited to mere replication of your existing processes. Armed with process engineers, QC experts and software developers, ARDEM outsources your functions by improving them first.
When someone reaches out to our team for an outsourcing solution, the first order of business for our team is to dive deep and put together a complete picture of their current mode of functioning along with their immediate and future goals. Taking the time to truly understand our clients is important as it enables us to upgrade their current workstream and build in additional efficiencies by forecasting and anticipating their needs.
Working with a reliable partner, our clients feel comfortable moving ahead and focusing on service expansion and business growth, knowing that we will match their requirements, every step of the way.
Business Process Outsourcing and Competitive Agility Go Hand-in-Hand
As innovation becomes the deciding factor between survival and success, outsourcing is longer be limited to just carrying out tedious, repetitive functions.
As business process outsourcing updates its offerings with the aid of advanced robotic process automation, machine learning and cloud-based technologies, outsourcing has almost become synonymous with advanced analytics.
Any business collects vast amounts of data in the course of daily operations; however, their ability to translate this data into actionable insights separates the leaders from the stragglers.
This is where outsourcing comes in by entering, extracting, processing data from incoming documents and high-volume transactions, outsourcing allows you to view trends in data as they happen and uncover crucial business insights that will help you stay a step ahead.
Cloud-Based Collaboration Platforms Will Rule the Day
Cloud technology has transformed the way the world works, and business process outsourcing is no different.
As demonstrated by the unprecedented events of last year, building resilient operations is the key to ensuring business survival and continuity. Outsourcing as a service is uniquely positioned to deal with such disruptions as it involves collaborating with a fully-equipped remote team that can continue its work uninterrupted even in the face of uncertainties.
Additionally, a common issue that arises while outsourcing is the lack of transparency and effective communication with the remote teams that leaves many with the feeling that their work is not proceeding the way they want.
ARDEM’s cloud-based digital workspace, the ARDEM Collaboration Platform enables us to bridge the gap between our partners and their remote teams by providing a simple, easy to use digital space for virtual collaboration.
Our proprietary collaboration platform offers our clients live updates on the status of their project while making it easier for them to exchange and view data.
How It Works:
- For a monthly subscription fee, you get access to a workspace on our cloud server. The cloud server is provided by Amazon Web Services with strict security protocols in place. The subscription fee is waived for all contracts of 12 months and longer.
- Every user is assigned a unique username and password along with a secure login protocol that employs the latest SSO protocols to ensure secure access.
- Once you are connected to the workspace you can upload or simply drag and drop your work documents for processing to secured folders.
- You can then chat with your Project Manager to define your scope of work and quality expectations.
- You can further interact with your team members, review the status of your project, leave new instructions on the file itself, and also follow up on issues related to your assignment.
- You can also monitor the progress made on your data in real-time on our dashboards with customizable views. This helps you monitor team performance against the defined metrics.
- Our platform also enables you to manage work assignments for your team.
- You can also send us emails or any additional documents as attachments.
- You can also have your team forward emails to this platform. We will sort and categorize them as required.
Remote Working Techniques Will Determine Survival
- While a cloud-based collaboration platform provides a smart, technology-backed solution to collaborate with your remote team successfully, the task of training and building this team is another challenge in itself.
As business process outsourcing shifts from generic processing to custom solutions, the capacity to build and train remote teams is going to be a game-changer in the journey ahead.
As an expert in virtual training services, ARDEM manages all the training aspects of your remote workforce so you can focus on doing what you do best.
After understanding the details of your current process, our team proposes an improved workflow for increased efficiency. Proceeding ahead, our intelligent developers then create a replica of your current system on our platform for training remote employees.
From creating a detailed syllabus for processing specialized data to building a customized training regime for your remote team, our team of experienced project trainers does it all for you. All analysts are moved on to the live process only after they meet our stringent quality standards, and we continue to monitor them to ensure that these standards are maintained.
Smart Reporting and Insight Management are the Future
It’s no secret that the digital age runs on data and that’s why smart reporting is making its way into business process outsourcing, too.
As mentioned above, entering enterprise data accurately is no longer enough, this data must yield actionable insights that further translate into success.
When processed and analyzed correctly, data can yield valuable insights into shifting market demands/trends, help identify internal consumption/waste and also be the propellant for implementing efficiencies both internally and externally.
ARDEM empowers its partners with valuable real-time analytics by centralizing the data collected from multiple locations/branches for faster reporting and easy visibility. The dashboards on ARDEM Collaboration Platform report the data as it is processed and can be further customized by our clients to view the analytics of their choice, by week, month, year, etc.
Scalability and Security Will Continue to Define Business Process Outsourcing
In this fast-paced world, success is determined by one’s ability to adapt to the changing market demands. The same holds true for business process outsourcing as the success of an outsourcing solution is measured by its ability to adapt to the fluctuating demands of its clients.
It’s an undisputed fact that the future efficacy of outsourcing solutions will be defined by their ability to scale up their teams and match their processing speed to their partners’ needs in real-time.
ARDEM offers its clients the advantages of offshoring with a global talent pool that gathers talent from South America, India and the Philippines to build resilient, scalable teams for our partners. Our operations office in India works in 3 round-the-clock shifts to ensure non-stop processing that enables us to meet our clients’ expectations and deliver their data on time, every time.
Apart from scalability, security will continue to be at the mainstream of all outsourcing contracts, especially in the wake of the recent data breaches faced by major corporations all over the world. Even as companies seek to enjoy the benefits of outsourcing, they need to feel secure about sharing their data with a third-party partner for processing.
As an ISO27001-certified data entry and outsourcing company, ARDEM addresses security at 3 main levels: Physical, Network, and Employee. Standard practices for us includes VPNs, SSLs, encryption protocols during file transfer and at rest alongside biometric security protocols, as well as HIPAA, PCI, PII and GDPR compliances.
Apart from our security compliances and protocols, we provide access to sensitive data on a strictly need-to-know basis and further ensure that your data is not moved, saved, edited, or seen by unauthorized team members.
Our foundation started 16 years ago as a U.S. Federal Government contractor and throughout the lifetime of our company, there has never been any data breach of any kind. You can ask for more security information during the initial discovery.
If you would like to learn more about how we can build a customized business process solution for you, then get in touch with us for a free consultation today!