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.
The need of the hour is to go for solutions that help you sail through these tough times and build resilience. The challenges that lie before companies primarily deal with running essential business operations while reducing the cost of operations and adapting services to current demands. Another challenge that most companies find they are facing is a lack of collaboration between team members or even departments as remote working becomes the norm.
The key to ensuring business continuity is to analyze which services you need to perform internally and which processes you can contract out to an outsourcing partner who can perform these tasks with greater accuracy and efficiency. Business process outsourcing today has become more of a business management strategy rather than just optional support services. As per a Global Industry Analytics, Inc., report compiled before the pandemic, the outsourcing industry was expected to reach 220 billion USD by 2020.
So, has the pandemic slowed the demand for outsourcing services? On the contrary, as companies find themselves looking for adaptable solutions to keep running, outsourcing everyday repetitive yet essential processes is the popular choice to ensure continuity.
So, while business process outsourcing has always been a smart option, here’s the 2020 guide to choosing the right BPO services for your needs:
Remote Working Efficiency
Switching to remote working need not be a liability, rather it should be viewed as an opportunity to leverage varied talent and streamline operations. The challenges of working remotely include lack of effective supervision, absence of collaboration and tedious ways of sharing large volumes of data across systems and distances.
The best way to overcome this is to partner with a business process outsourcing company that offers you an effective and proven remote working solutions. An efficient collaboration platform should offer both clients and project managers the ability to oversee and manage remote teams in real-time. Open communication and easy data sharing channels are also essential to build sustainable remote working solutions.
The ARDEM Collaboration Platform is a digital workplace that helps facilitate working remotely while assisting you in supervising your remote teams. The cloud-based digital platform comes with a live dashboard and real-time chat features that enable you to update work instructions, provide live feedback and scale-up operations instantly.
For a monthly subscription fee, you get access to a workspace on our in-house cloud server. The cloud server is provided by Amazon Web Services with strict security protocols in place. Each user has a secure login that employs the latest SSO protocols to ensure secure access.
How It Works:
- Once you are connected to the workspace you can upload or simply drag and drop your work documents for processing to the secured folders.
- You can then chat with your Project Manager to describe the work you want your team to do.
- You can further interact with your team members, review the status of your project, leave new instructions, and also follow up on issues related to your project.
- You can 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 send 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.
- Virtual training for remote teams.
Did you know that the terms front-office and back-office were coined to denote the different spheres of a company’s operations? Front-office refers to the client-facing operations of a company while the administrative functions like payroll processing, accounting, customer support and data management are referred to as back-office operations.
While front office operations are the core of your functioning, back-office operations are the foundation or skeleton that must be kept strong as you build your operations from the ground up.
This is where business process outsourcing comes in, by offering efficient data management and back-office support services, they allow you to allocate precious internal resources to focus on developing your core business further. From data entry and processing to document conversion, high-volume transaction processing and OCR data capture, we offer extensive support for important administrative functions.
Business Process Outsourcing and Automation
Automation is the key to future business competency and even domination. In addition, you can always depend on an automated system to continue operations even in times of disruption.
However, implementing business process automation in-house can be quite a cost-intensive process. Hiring skilled resources with technical or engineering backgrounds drives up your costs. This is particularly true while scaling up operations as it requires the addition of more resources.
The smarter way to go about this is delegating these tasks to ARDEM as we offer you a background of extensive experience in secure data management and business process automation. Automation helps implement accuracy and consistency across essential enterprise processes including invoice processing, bookkeeping, bank reconciliation, utility billing, data processing, order fulfillment, customer service and more. Processing uniformity helps reduce errors, improve processing times and best of all, lowers your costs significantly.
At ARDEM, as your operations expand and your processing needs increase, we simply assign more bots to handle the increased workload and your work continues without break.
Automated workflow translates into an intelligent workflow that streamlines your everyday processes while eliminating redundancies and unnecessary delays. The best approach combines manual interaction with robotic process automation for a balanced approach.
At ARDEM, we study your existing processes carefully to build you an optimized and intelligent workflow. After initial analysis, we break down individual steps for analysis to eliminate any redundancies. The optimized steps are then combined to create an updated workstream. The next step is to assign our proprietary bots to your improved workstream.
The business process improvement road map that we prepare includes the perfect combination of manual interaction and workflow automation to deliver operational excellence.
However, the work doesn’t end here, we also study the process workflow once it’s put into action. As we analyze how the entire process can be streamlined further, we take definitive action and implement further measures for improvement.
Every organization irrespective of business model and structure has to perform essential financial and accounting processes. All these processes deal with large volumes of data that contain potential liabilities and expected revenue of an enterprise. This means that these are labor-intensive and time-consuming processes that need to be performed with the utmost accuracy.
Outsourcing your financial processes including accounts payable, accounts receivable, QuickBooks accounting and even bank reconciliation can help improve your accounting processes tremendously.
At ARDEM, we offer complete end-to-end finance and accounting services, taking care of everything from invoice to payment. We further manage your invoice through a specialized collaboration platform, i.e., the ARDEM Invoice Manager where you can easily upload invoices, view their processing in real-time and download the high-quality output with a few clicks.
Our financial services take the bulk of high-volume transaction processing off your plate and help lessen the burden on your in-house accounting department. Our services can also be counted upon to improve your approval rates, shorten your payment cycles, and optimize your cash flow management.
As mentioned before, the current situation has shown us the importance of building resiliency in terms of uninterrupted functioning. This especially holds true for manufacturing, logistics and supply chain management as the production and transportation of necessities need to be ensured, especially in times like these.
This is exactly what makes business process outsourcing a smart management tool in your repertoire. You can integrate immediate decisions and ensure smooth implementation with the aid of a trustworthy outsourcing partner that matches their services to your needs. Building business resilience is all about using smart tools that help you adapt your services to meet changing needs.
At ARDEM, we offer you smart ways to continue operations, you can transfer data easily, count on faster turnaround and receive accurate data that assists you every step of the way.
In today’s age, achieving success means being faster, smarter and more efficient than others. The right way to achieve this is by staying nimble while growing your business.
Once again, business process outsourcing is your way forward. The principle is simple, outsource repetitive administrative tasks while focusing core resources on developing and expanding products or services. Staying ahead of the curve requires matching stride with current market demands and trends. This, in turn, requires high-quality data that offers actionable insights for smarter decision-making and at ARDEM, we deliver what we promise.
So, are you ready to improve your internal process? Get in touch with us for further guidance today!