The outsourcing market should achieve a CAGR of 8% over the next few years, reaching a value of $405.6 billion by 2027. This statistic is crucial to global businesses because it points to the importance of outsourcing business processes.
According to Forbes, outsourcing is as helpful for small businesses as it is for large corporates. It may benefit smaller enterprises more as it allows them to access top global talent at a reasonable cost.
How Outsourcing Support Allows you to Streamline Costs
Outsourcing support streamlines costs by simplifying processes. You will find that there are several ways to save when you outsource:
- No benefits packages to pay
- Lower overall staffing costs
- Smaller space requirements mean lower rentals
- Not having to equip and maintain a call center reduces your IT costs significantly
- Save during non-peak periods with call-center sharing
- Access a global workforce that speaks multiple languages
- Save money on sourcing, onboarding, and training talent
- Access a flexible team that you can upgrade with short notice
The difference is staggering when you compare the costs of running an in-house team. Outsourcing is not only more convenient, but it is also far more cost-effective.
If reducing expenses was the only reason to outsource your call center, it would be worthwhile. However, there are several more benefits to doing so.
Other Benefits of Outsourcing Your Call Centre
The growth in the business process outsourcing market is primarily due to the amount such companies save their clients. However, according to Daria Leshchenko, partner at supportyourapp.com, there are several other factors to consider here.
Access to First Class Customer Service
Delivering the best customer service is more complicated than it sounds. Dealing with customer service specialists lets your clients have the best possible experience. These specialists are specially selected for their winning attitudes.
They then undergo training to ensure they know how to delight your clients. Finally, they can focus on their work because they have no function other than making your customers happy. They do not have to worry about a stack of paperwork they need to get to when they have a moment.
Access to Consultants Fluent in Several Languages
Even if you are not considering expanding your business, it’s helpful to be able to speak to clients in their home language. Accessing the global talent base makes perfect sense if some of your offices are abroad.
Hiring multi-lingual employees for an in-house team is expensive, assuming you can find the right people. Working with a company that already has a multi-lingual team makes a great deal more sense.
How long does your average hiring process take from recruiting to training? Like most companies, the process takes weeks if you’re lucky. If you’re scaling up your business, do you have that time to waste?
Alternatively, do you have the premium wages it would take to attract top talent in a shorter time?
Customer service outsourcing firms have excess capacity, so it is easier for them to increase your team at short notice. If you need to scale up quickly, they can help you build market share.
81% of consumers will likely spend money at your company again after receiving excellent service. Still not convinced? Did you know that 95% of consumers believe brand loyalty is related to your service?
Delivering outstanding service is no longer a way to distinguish yourself from your competitor. Instead, today it is crucial to retain customer loyalty and increase sales. Most businesses today understand customer service’s importance, so you need to excel in this area to stand out.
Your client might define convenience very differently than you. For example, it might be most convenient for them to call after nine at night when your business is closed. Working with a professional call center means that your clients get the service they deserve at the most convenient time.
A firm working with other companies’ data must be conscientious regarding data security. They will invest more heavily than the average company to secure your files. They will also have strict compliance rules with each of their consultants.
Wrapping it Up
Outsourcing business processes benefits companies in many ways. But, when it comes to outsourcing customer service, those benefits multiply. Instead of just watching expenses drop, you see improvements in client satisfaction, security, and convenience.
Moreover, scaling up your business to deal with the new clients your happy customers refer becomes easier. So instead of wondering if outsourcing makes sense, it may be time to consider if the alternative is worth the lost opportunity.