Additionally, the efficiency of a company’s claims function can often act as a measure of its client satisfaction while also playing a crucial role in regulating the balance sheets for summarizing payouts and premiums against expected profit or revenue.
However, while automated OCR or optical character recognition has brought about a revolution in the standard invoice management process, it’s not enough on its own to carry out a successful accounts payable operation.
Any initial skepticism about outsourcing healthcare services has given way to optimism about the positive results outsourcing yields in improving healthcare services. Let’s dive deep and explore the possibilities.
While recent times may have been more challenging than expected, every disruption also comes with an opportunity to reinvent the way you function. The elixir for the current situation lies in the solutions offered by business process outsourcing.
In today’s competitive environment there is very little room for error and even less room for operational delays and inefficiencies which leads to a constant need for business process improvement. Backed by automated workflows and smart processes, businesses are continually redefining the limitations of what they can achieve and being left behind is simply not an option.
Business process improvement or BPI refers to the practice of analyzing, redefining and improving essential business processes for optimum performance and improving the quality of customer experience.
The COVID-19 pandemic has created a series of rippling effects, impacting not just the healthcare system but also disrupting the global economy and growth trajectory. One such major disruption can be seen in the disturbance of the supply chains. Therefore, the need of the hour is to build supply chain resilience.
The current situation isn’t just worrying for logistics operators; disruption of supply chains can result in a severe shortage of essential medical supplies and everyday necessities like food and sanitation supplies with disastrous consequences.
Now, more than ever, it is important to build resilient supply chains to ensure that necessities reach wherever required. In fact, almost 94% of companies have suffered supply disruptions due to the COVID-19 crisis. This is a problem that needs to be addressed as soon as possible.
In the age of social distancing and quarantine, running operations smoothly requires people to work remotely and be successful in collaborating online. This, in turn, requires swift and effective solutions to solve the problem of how to securely work with remote teams.
As businesses and firms shift to remote models of working, the new virtual workplace needs a new set of codes for effective supervision and collaboration. Another important factor that you need to take care of is securing your employees’ work and sensitive data that is shared across systems via cloud servers.
According to the FBI, their Internet Crime Complaint Center (IC3) has seen a spike of nearly 300% in the number of cybersecurity complaints it receives daily during the COCID-19 crisis in comparison to the complaints they received before!
The current pandemic has not just created a medical crisis but also an economic crisis with companies clamouring for business survival strategies to weather the losses incurred in the current scenario.
In times of social distancing, quarantine and lockdowns, how does one keep their business running against all odds? According to the latest survey by Gartner, a mere 12% of the respondents believed that they were sufficiently prepared to deal with the repercussions of COVID-19 and its after-effects. 56% said they were somewhat prepared while 11% said that they were relatively less prepared or very unprepared. These numbers can give you an idea of the global scenario everywhere.
So, while you are waiting for that government bailout to come through, what are the business survival strategies that you can implement to ensure that you are able to sail through the storm and emerge battered but victorious in the end?
We have all heard the phrase — “as mysterious as the dark side of the moon,” but the fact of the matter is that in today’s age of space exploration and satellite technology, there isn’t much mystery left.
So, if mankind has been able to solve the mystery of the dark side of the moon, then why hasn’t it been able to solve the mystery of dark data?
