Small to medium-sized businesses heavily rely on internet technology and databases to keep their operations running. Marketing and sales activates, customers information, administration and accounting records along with customers interactions are all stored in these crucial databases. Companies must have up to date and properly functioning databases to monitor the core direction and developments of their business. Information technology and databases are becoming more and more vital to a business’s success which in return increases overall operating costs. Business outsourcing companies continue to stay on top of this trend and can seamlessly take over database management.
Outsourcing database management basically cuts through the clutter and streamlines the entire database process. Outsourcing companies can quickly handle any database project and already have IT systems and subject matter experts in place to get the desired results business’s look for. Companies today are for the most part always-on but are lean on IT staffing, making it difficult to give that true around the clock support. This means they do not have time to focus on the bigger and more important tasks like developing new applications or improving operational efficiencies. BPO companies offer 24/7 database support in the most efficient way. Outsourcing database processes frees up a business’s internal staff so they can focus on those core projects directly affecting the bottom line.
Cost savings are usually the most tangible benefit and give instant gratification when outsourcing database management. BPO companies give businesses access to a larger variety of talent at a small fraction of the cost to hiring specific internal full-time employees to handle database management. According to a study by the MIT Sloan Management Review, 300 U.S. companies who spent $96.1 million on IT outsourcing yielded a savings of $121.1 million in operating costs and other non-IT functions.
Database management cost time and money but does not directly affect business growth. It is one of those “keep the business running” processes that are perfect for getting outsourced. Outsourcing database management greatly reduces costs, increases reliability and frees time for key players to focus on the core projects needed for business growth. The benefits of outsourcing are too great for small to medium-sized businesses to not at least consider outsourced database management as a practical solution moving forward.
Keeping your finances in check is one of the most important parts of running your business. Bookkeeping is a tedious task that no business owner or manager should have to get involved with. Save yourself the time and agony of all the fine detail tracking and recording. Focus on the bottom line! Small businesses around the world have had great success using outsourcing services. Outsourcing is the key to Effortless Bookkeeping.
Saving time is the most obvious benefit of outsourcing but that is not where it ends when it comes to bookkeeping outsourcing. When you outsource bookkeeping and other financial processes you reduce the risk of fraud in your business. You need to ensure separation of duties and privacy when dealing with the businesses finances. No better way of accomplishing that than to hire an outsourcing company located overseas to handle it for you. Outsourcing is the key to Effortless Bookkeeping.
Most small businesses and startup companies have limited resources so their bookkeeping tasks fall to someone that has a much larger role in the company. Let’s face it, creating business strategies and closing deals take priority. With that, bookkeeping processes get mismanaged and placed on the back-burner. Hiring a bookkeeper will ensure all financial reporting is on time and 100% accurate. Outsourced bookkeepers are inexpensive and experts in these tedious bookkeeping tasks. Outsourcing is the key to Effortless Bookkeeping.
Outsourcing bookkeeping is a no-brainer when it comes to cutting costs. In-house bookkeepers usually have a base salary of about $30-40K before any overhead costs. Add that extra 25% to factor in benefits, taxes, facility cost, etc., and you are at about $50K for bookkeeping. With outsourcing there are is no overhead costs, you pay a monthly flat rate (around $1000) which covers all bookkeeping needs. Add it all up and you save more than 75% when you outsource bookkeeping. Don’t forget the training and management costs you are cutting. Outsourcing is the key to Effortless Bookkeeping for pennies on the dollar.
Bookkeeping will always be one of those important administrative tasks that nobody likes to do. Bookkeepers are experts at this stressful, confusing and time-consuming process. Using an outsourcing company is the most efficient way of handling your bookkeeping processes. Keep your finances up to date with little cost and no effort. Outsourcing is the key to Effortless Bookkeeping.
India has been one of the major players in the BPO industry, it’s believed that India’s BPO sector started in the mid of 1980s and grew tenfold since then. As a matter of fact, India’s gross domestic product is largely composed of the BPO sector, this is how influential the BPO industry is in the country’s economy. However, after dominating the offshoring industry — which dominates nearly half of the global offshore market — for decades, India’s BPO sector is struggling: an unexpected stumble, especially in the voice and call center industry.
A large number of call center firms in India have been keen in transferring their operations outside the country, eyeing the Philippines as the new call center hub in Asia. There are many reasons pointed out by call center firms as to why they are moving their basic back office services out of India. Despite the mass layoff in the BPO industry in India, the country still largely enjoys the largest share in the BPO market. However, they are losing more than 70 percent of their voice and call center businesses to the Philippines.
As mentioned, there are many reasons why call center firms are moving their services to the Philippines. Notably, India has been suffering from a shortage of English proficient talents, the rise of labor costs in the country greatly rationalized the call center sector as well.
In addition to that, despite having a large number of college graduates a year — composed of 3 million college graduates a year, only a fraction of this figure is capable of being employed. As a matter of fact, the problem doesn’t end there — keeping the call center agents is another struggle. According to Forbes, young Indians working as call center agents are susceptible to cultural shock and high work burnout. As an illustration, call center agents are taught of Western cultural mannerisms to “boost English proficiency and conversational skills” — however, the primary goal of this is to eradicate the Mother Tongue Influence — in which Indians are known for their very distinct accent. In fact, almost all Indian call center employees are suffering from culture shock and social trauma, which is why employee retention in the industry is very difficult.
Aside from rising labor costs and shortage of talents, the call center industry in India is largely hampered by linguistic and cultural compatibility. These setbacks on the voice service sector in India have been viewed as the detrimental factors in the struggling growth of the industry.
In the past years the Philippine economy grew rapidly and even outpaced China’s slowing economy. As a matter of fact, World Bank and other international institutes even consider the Philippines the new Tiger Economy in Asia. The strong manufacturing sector, flourishing remittances of overseas Filipino workers and other economic stimuli used by the Philippine government greatly help to rebuild the country’s feeble economy, which was considered before as “The sick man of Asia”. — But not known to many, the BPO industry has also played a vital role in the success of the country’s sturdy economy.
The Philippines has been slowly overtaking India as the top destination of Business Process Outsourcing (BPO) companies especially call centers. There are many reasons why BPO firms are shifting their service to the Philippines. As an illustration, India has been one of the pioneers of the BPO industry in Asia. However, a lot of factors have been pointed out by BPO firms which greatly hampered the industry. The industry has been battling with the complicity of labor conditions, poor infrastructure, lack of data protection laws and social economic & political instability. As a matter of fact, according to The Economic Times, India has been losing 70 percent of voice and call center businesses to the Philippines.
The Philippines, on the other hand, as the emerging leader in the BPO industry, has been heavily investing in developing the BPO industry through legislation and using different economic stimuli to increase government spending in infrastructure and improving the socioeconomic structure of the country, to better accommodate the industry which is expected to surpass the overseas Filipino workers’ remittance (which the country’s economy partially relies on) by 2017.
The economic and political stability of the country, as well as government support for the IT/BPO sector, has been instrumental to why BPO companies are shifting their eyes to the Philippines. As a matter of fact, a lot of BPO firms are confident with the Philippines for passing good laws needed by the industry. In addition to that, the Philippines meets labor standards, which greatly concerns BPO firms.
However, despite crippling India as the leader in the BPO industry in Asia, the Philippines still faces different challenges, particularly the competitions between ASEAN countries through 2015 ASEAN Integration.
Agent attrition has been slightly crippling call center firms in recent years — “I quit” is probably the worst phrase a manager or a supervisor will hear from a demoralized call center agent. As a matter of fact, employee turnover in the call center sector is surprisingly towering. In fact, the high agent attrition has a long standing impact on the company’s productivity. As an illustration, customer service metrics will be affected, because there are very few agents in the team handling a large volume of calls. However, the negative impact of agent attrition does not end there — it’s like a domino effect — leaving a vacant position in a call center means an additional workload for the remaining agents who are likely to perform inadequately, and may impact the overall team performance.
Aside from work burden, hiring a replacement is another story — hiring the right agent to the position is another struggle. Call center firms are aware that recruitment is not an easy task; aside from scarcity of right talent, the cost associated with advertising and the screening process is laborious and costly. In addition to that, it takes a long time for trainees to learn about the company and its product, in addition, investing in these people without seeing much return is a gamble. As a matter of fact, only a small fraction of the agents actually complete their training program. Moreover, it still takes time for these agents to fully learn everything, and continuous guidance of managers or supervisors is still necessary — considerable time, effort and cost are required to attain their full potential.
On the second thought, the negative effect of agent attrition can be avoided. According to Talkdesk, reducing agent attrition starts with choosing the right applicants — by hiring the right applicant, call center firms can invest in the right people and can avoid wasting money. Moreover, enhancing training programs can gradually help to reduce inadequacy and disorganization, which is the main reason why agents are leaving the company.
Meanwhile, probably one of the most effective ways for employee retention is by providing the right recognition and reward programs — by ensuring that every employee gets the right compensation and acknowledgement, that is more than enough to express the company’s gratitude. In fact, with this approach agents’ motivation and morale will increase. Aside from recognition and reward programs, having an open-door policy between the company and the agent will bridge the gap between the management and the ordinary employee — by which collective discussion can be attained.