Outsourcing is an option used by companies to contract out business practices to external companies. Recently, the trend of outsourcing common tasks to save time and money has significantly increased. The global market size of outsourced services has reached $76.9 billion, and the global BPO industry posted a revenue of $24 billion last year.
Business process outsourcing or BPO is a subcategory of outsourcing in which companies contract out several business processes such as outsourced contact center solutions, human resources, or IT services.
Almost every business in the world has been using this typical method of doing business: outsourcing. Despite being a popular choice among business leaders, there are many myths and misconceptions associated with contracting out services.
Here, we have debunked the top four myths associated with business process outsourcing.
Myth No. 1: Outsourcing is for large businesses only
Initially, people believed that outsourcing is only possible for large scale businesses as more multinational companies opted for bpo companies to perform business tasks.
However, the fact is that from startup to medium sized businesses, everyone can also afford outsourced contact center solutions. SMBs can gain great benefits from outsourcing.
For instance, if you own a small business, you might only have limited space for work and staff. Outsourcing will help you improve productivity and efficiency resulting in increased profitability in the long run.
Myth No. 2: Outsourcing is done to reduce costs
Indeed, outsourcing reduces overhead costs for business. Most of the businesses taking help from bpo companies are usually doing so because they do not have sufficient resources to carry out additional tasks. Furthermore, the need to outsource some of the business tasks is to focus more on the core business to increase overall efficiency.
Myth No. 3: Outsourcing means outsourced contact centers solutions only
In the beginning, outsourcing did only mean outsourced contact centers solutions, or telemarketing. However, the times have changed. BPO companies have now started to offer a wide variety of services including web design, IT support, internet marketing, e-commerce, and more.
Myth No. 4: Outsourcing will take away local jobs
As discussed earlier, the global market for business process outsourcing has significantly increased. Outsourcing is creating more jobs and boosting the economy of a nation. Even if SMBs are not hiring staff to perform business processes, bpo companies will have more job opportunities.
For companies looking for a reliable contact center partner, trust Lead Advisors. Lead Advisors has an established reputation for providing third-party business process services, including contact centers, web design and dedicated marketing, and much more. Lead Advisors has highly trained staff and the best technological infrastructure to ensure near-constant uptime and efficient service. For more information, call us today at (888) 761-9139.