Limited space, insufficient manpower and high costs are but some of the problems that can plague a business. Even as you try and expand your core business, you need to also expand your capacity for handling back-office and voice requirements. However, the cost of hiring and accommodating the resources required for this locally can be quite daunting. In fact, it can often eat away at your profits.
But what if you could find all the human resources you need for but a fraction of the cost? What if you could pass on the handling of the nitty-gritties of your voice and back-office processes to someone else, leaving you time to focus on your core business?
These are but two benefits you can enjoy when you outsource these processes to India through a reliable partner. Here’s are some other benefits your business can reap by outsourcing:
- Low cost, high-quality: Outsourcing allows you to get the same jobs done at a much lower cost. Getting the same job done in a country like India often costs a fraction of what it would in the USA itself. Also, when you outsource, you can ensure that you pick vendors who specialize in the work you need done, thus ensuring better quality output.
- Reduction in infrastructure costs: Outsourcing removes the need to build up extra infrastructure as it is now your partner’s job to manage and develop resources for handling your business processes. This way, you can free up a lot of resources that would otherwise have been spent on building and maintaining infrastructure to handle all your processes.
- Focus on core areas: Outsourcing ensures that you no longer need to worry as much about hiring and training new recruits. Your business partner takes care of all your secondary and tertiary business needs – from hiring to managing. Also, you no longer need to spend time and resources on managing these outsourced operations. This leaves you more time and energy to devote to developing your core business, improving your brand image and more.
- 24x7 service: The time difference between your country and the location of the vendor you’re partnering with can offer several advantages. For one it can enable you to run your operations or provide support to your clients round the clock. This can make your business operations much quicker. For example, even if you onboard a customer at 6 PM at your local time, your vendor would have already completed all necessary documentation by the time you open again at say 8 AM. This ensuring that you can take the next required steps right away for all your clients.
As you can see, outsourcing in general can offer a lot of benefits to your business. However, it is important that you are careful in choosing the location you wish to outsource too.
Both India and the Philippines are known for being the top two outsourcing destinations for large multinational organizations - they have their own unique pros and cons. However, as the years progress India is proving to be a better destination for Business Process Outsourcing (BPO) for the following reasons:
- Larger talent pool: India produces a far larger number of talented resources with good technical expertise every year as compared to the Philippines. What’s more, over 50% of India’s population is under 25 years of age, thus ensuring a large pool of skilled resources from which to pick.
- More experience: India is an older player in the IT & ITES sector and has a considerably larger share of the pie, with about $118 billion. Philippines share stands at around $15 billion.
- Lower attrition rates: Attrition in the BPO industry in India has been decreasing over the past couple of years, and is currently at its lowest since 2009 (Source: AON Survey Results 2015/16). On the other hand, attrition rates in the BPO industry in Philippines are relatively much higher.
- Better infrastructure: India has over 50 key locations for IT and BPO service delivery, compared to the two available in the Philippines.
- More cost-effective: With rising wage costs in the Philippines, India can prove to be a much cheaper destination. It has lower wage costs and the better developed infrastructure. When adding up all the labor and infrastructure costs, India works out to be less expensive than the Philippines. Price point for Philippines used to be 10% higher than India’s costs, so consider their price to be around $13.75 per hour
So, if you’re looking to outsource your business processes, and up your game remember: India is the place to be.
Want to know more about BPO services in India, drop us an email at firstname.lastname@example.org.