How to Drive Business Process Improvement & BPO Success with Analytics
A plethora of companies today outsource their contact center operations. Organizations subscribe to using external vendors for a multitude of reasons: cost, flexibility, responsiveness, technology, business expansion, resources, time, etc. Today, companies are looking not just to reduce operational cost, but to deliver a strategic business impact. There are also several reasons why companies choose not to deal with business process outsources (BPOs). One of the most pressing, and important, is the lack of analytic insight into exactly what organizations are paying their vendors for. The BPO success should drive business process improvement, but without a comprehensive view of your vendors, how are companies able to measure that success?
BPO Meaning? What is a BPO?
A BPO, meaning a business process outsourcing / outsourcer, is a contractor or vendor companies hire to perform a job function externally.
The problem BPOs and organizations face is the extensive time and resources it takes to pull all contact interaction data together. It is difficult to provide timely and efficient reporting of workforce management metrics to business leadership due to several disparate sources or systems. This creates detrimental service levels and unmanageable occupancy rates within a contact center. Due to lags in receiving data and time variances between vendors, it is also problematic to pro-actively respond to service issues or view an accurate real time report. Calculation metrics, along with appearance and format cause issues with standardization across the board.
BPO vendors generate piles of interaction data daily. This data can be aggregated and leveraged to improve vendor productivity and ensure clients’ investment.
What can Organziations Do to Drive Business Process Improvement for BPO Success
Set Definitive KPIs
What are the daily, monthly and yearly goals your company is looking to meet to drive business process improvement and enhance customer experience? What adherence and conformance levels are you looking to stay above? These questions, and more, are those that businesses should be asking internally. Once organizational goals have been defined, it is imperative to define parameters for your outsourced vendor. What defines a BPO success in your company, and how is this working towards your goals.
Measure KPI Performance
The only way to move forward and ensure BPO success if through analytics. Find a solutions provider that enables disparate data collection and visualization across multiple channels in real time.
In 2018, ethosIQ launched a patented solution, BPO Optimizer. BPO Optimizer allows organizations to see a single, comprehensive report regarding productivity of business process outsourcer. It incites a conversation about measurable and manageable data surrounding companies’ BPOs and allows businesses to hold BPO vendors accountable to agreed upon KPIs. Organizations are able to increase efficiencies, reduce cost and ensure BPO success and business process improvement through analytics.
Learn more about ethosIQ’s patented, BPO Optimizer solution here.
