BPOs: Attract More Customers with these 5 Capabilities
Are you impressing your prospects?
While the BPO industry is booming, many BPO’s today are struggling to attract clients as customers are more discerning these days.
Finding a partner to help them outsource their document capture is a process. While proximity used to be a main determining factor, it’s no longer enough. Businesses are looking for more from their outsourcing providers.
What are they looking for?
The right partner with the right technology and processes.
Here are the five things your clients value most in a BPO document capture partner.
- Top-Tier Technology
- Unfailing Accuracy
- Short Lead Times
- Transparency & Auditability
- Reliable Security and Compliance
Technology has become a true differentiator.
Businesses want the benefit of the latest and greatest technology when working with a BPO. And if you don’t have it, you risk losing new clients to BPOs that do.
According to an SSON survey, access to technology is one of the top five reasons businesses outsource to BPOs.i It’s an opportunity for them tap into new equipment without committing to it themselves.
Plus, many organizations are going through their own digital transformation and are looking for a partner that can help streamline that transition. As a document capture provider, you’re integral to their transformation.
Your clients recognize the importance of technology. 47% of businesses say a lack of innovation or technical leadership is a major issue they have with their outsource providers—beating out price/value (only 21%).
A prime example is the ibml Fusion scanner. Smaller businesses might not have the capacity and budget to invest in an ultra-high-volume documents scanner. But by partnering with a BPO that uses the ibml Fusion, they too can tap into its superior capabilities.
Businesses are looking for a partner to do what they can’t: Process hundreds or thousands of documents and extract mission-critical information at speed with unfailing accuracy.
Accuracy and speed go hand-in-hand. Processing documents at a breakneck pace is worth almost nothing if your clients can’t count on the information that you provide them. While you can supplement poor data capture solutions with human labor, it’s often costly and has the potential to introduce even more errors.
Instead, rely on first-rate document capture that uses machine learning technology and robotic process automation (RPA) to extract and validate information. Accuracy will go up, and costs will go down.
Speed is another vital deciding factor when choosing a BPO. Clients want shorter lead times, faster turnarounds and more all-around availability from their outsourcing partner.
Let’s face it. Your legacy document capture processes just can’t keep up.
Accelerating your capture processes gives you the flexibility to take on more of your client’s work when they need it. The ability to scale is another one of the top five reasons businesses outsource to BPOs. If you’re working from your backlog, clients can’t trust that you’ll be able to scale up with them as their data capture needs increase.
And other BPOs are recognizing the opportunity. Up to 28% say customer demand for speed is driving their organizational change.i
Speed matters to your customers, and your competitors are taking notice.
With the current information climate, transparency and auditability is crucial for businesses. They want to be well-informed of data practices and need to ensure they can track the custody of information from the moment it enters your organization.
Often, businesses will turn to BPOs to ensure sensitive information is handled appropriately and efficiently, instead of training their internal teams. According to CGS, 47% of surveyed BPO customers say operational benefits was a primary driver to outsourcing.ii
Consolidated document capture makes it easy to provide visibility into your processes, and using the latest technology offers easy audit reports that will satisfy your customers.
There’s no room for questionable security and compliance practices in 2022. The last year saw 5,258 confirmed data breaches, according to Verizon’s 2021 Data Breach Investigations Report.iii
Businesses are fully aware that security breaches are a critical threat, and they’re looking for a BPO partner that can ensure the safe handling of their sensitive information.
According to CGS, 48.6% surveyed businesses cite data/privacy security compliance as a top driver of the decision-making process. And 20.2% said they didn’t use a BPO in 2021 because they weren’t confident in the data/privacy security compliance of outsourcing partners.
Legacy systems leave your clients’ information vulnerable to security threats. Clients looking for a new BPO partner will expect iron-clad security at every point in the data capture process.
Attract More Clients with ibml
If you want to move your BPO business to the next level, you need ibml solutions to get you there.
Show new clients that you’re on the cutting edge of technology with the newest ultra-high-volume scanner: the ibml Fusion.
And now the ibml Fusion, plus the latest software solutions, are even more accessible than ever with pay-as-you-go ibml-as-a-service.
Discover how you can access all the benefits of ibml without the upfront costs.
i SSON. (2020). What Will Save BPOs?
ii CGS. (2021). Trends 2021: The Impact of COVID-19 on Outsourcing Decisions and Customer Services Investments.
iii Verizon. (2021). Verizon 2021 Data Breach Investigations Report