3 big benefits of BPO – Indigo 21

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3 big benefits of BPO

3 big benefits of BPO

June 23, 2023

It’s no secret that business process outsourcing (BPO) is our purpose as well as our passion. We love being able to match businesses with BPO services that will save them money, space, and time. Those three factors are huge driving forces in what makes people choose to go BPO. Let’s take a closer look at the three big benefits of BPO.

1. Save money with BPO

Let’s face it: running a business is an expensive job! And finding new ways to save money is never far from a business owner’s mind. A recent study found that almost 27% of organisations outsource some of their functions to reduce costs. Those savvy business owners are already making a great choice by outsourcing some of their key business processes.

Overhead costs like paying for premises, training, and recruitment can eat away at your profit line. You can avoid these costs and save a lot of cash when you choose BPO.

When you choose to outsource business processes to the Philippines, you will access an industry that’s growing at a significant rate, employs more than 1.3 million people, and is helping to boost the country’s economy and rural redevelopment.

2. Save space with BPO

In early 2022, London was estimated to have a shocking 3 square kilometres of office space sitting empty, thanks to staff choosing to work from home. And with office space in the capital costing up to £120 per square foot, it’s easy to see the immediate cost saving of choosing to outsource business functions so you can sell that office space and move on.

After all, why would you want to spend all that money on offices that are going to sit empty when you could outsource to an office filled with a specialised team ready and waiting to help? In the Philippines, the demand for office space is growing, and in 2022, 43% of office space was held by IT-BPM firms involved in outsourcing.

3. Save time with BPO

On average, it can take 42 days to hire a member of staff. And that’s before you take into consideration the time it took to identify the need for a new member of staff, the time to research and write a job description, to advertise the role, filter candidates, interview them… the list goes on. Put it this way: recruitment is a time-consuming job in itself, and there’s no guarantee that all that hard work will pay off. There’s always a chance your brand new hire will get snapped up by a competitor and leave you at the beginning of the recruitment cycle all over again.

When you outsource a function, for example, an IT support team, you get time back to focus on the things that matter to your business. You can save time, and get to work growing your business, safe in the knowledge that your customers are receiving great service wherever and whenever they need it.

And it’s not just the time to hire that you’ll save. When you outsource a function, you can reduce project turnaround time with a dedicated and agile offshore team to supplement and boost the quality of your work, as well as help take some of the pressure off your in-house teams. That’s the power of BPO services.

BPO is a great business decision

We hope you’ve found out something new about BPO and have been inspired to think about what you could outsource in your business. Have you discovered anything new? Get in touch today.

Sources

https://callexperts.com/how-outsourcing-reduces-costs/#:~:text=Outsourcing%20reduces%20co
sts%20by%20transferring,money%20and%20access%20focused%20expertise

https://www.nexford.org/insights/the-future-of-bpos-in-the-philippines-and-growth-opportunities

https://www.magellan-solutions.com/blog/philippine-bpo-industry-statistics-2022/

https://www.theguardian.com/business/2022/aug/24/is-everyone-working-from-home-londons-3-sq-km-of-empty-offices#:~:text=That%20includes%20all%20the%20office,in%20the%20capital%20in%202019

https://talos360.co.uk/resources/ats/how-long-should-recruitment-take/#:~:text=According%20to %20the%20Society%20of,and%20the%20role%20in%20question.

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