3 Vital Aspects to plan while setting up your BPO company

Starting a BPO company does not have to be challenging, be it a voice or a non-voice BPO process. With the right knowledge and guidance, anyone can make a successful business venture into the BPO industry. A resourceful BPO company must know exactly what services their clients are looking for. As an outsourcing vendor, there are various factors that influence the success rate of the company. Companies are always looking to outsource few parts of their business because they do not have time, money or expertise in that area.

1) People:
  • Human capital:
    Hiring and firing of people relevant to the client needs takes a careful thought and planning. Getting a perfect fit for the work is possible with experienced people in human resource.
  • Supervision:
    Deriving the best output from minimum resources needs monitoring of all process. Appointing either a person or a tool is going to be a lot more helpful.
  • Quality Control:
    Any outcome must comply with the set parameters by the clients. This is where quality control comes into picture. Getting the quality of communication maintained is the way to upscale your business.
  • Loyalty:
    When a client or an employee gives good business, there should be a system that offers loyalty benefits. This is where your BPO will become a brand quickly and effectively.
2) Process:
  • Voice:
    Inbound and outbound calling team well trained into customer support, debt collection, product sales, and services sales would work on data of people categorised into information qualified leads, marketing qualified leads and sales qualified leads.
  • Non-Voice:
    a) Chat:Email marketing campaigns for lead generation and sales are effective techniques to generate ROI. New technology is enabling AI chat bots that is reducing the cost of hiring people for customer support or sales. However, there is still a chance that a chatbot might not prove to be accurate. There is a strong possibility to get clients to manage their website or social media chats.
    b) Consulting: Hiring consultants to serve the clients can be a part of the outsourcing industry. Accounting, payment processing, IT services, human resources, regulatory compliance, and quality assurance can be provided in the form of consulting for your clients.
    c) Marketing: Clients want your company to manage their online presence. They can outsource their digital marketing and marketing automation to your company.
    d) Web Development:Your clients might also want you to host their websites on your servers and get it developed. They would not do it themselves as your company can help them get a great website.
    e) Application Development:If your company can develop customized software for clients looking for different requirements, they would like to outsource this development according to your expertise and deliverability. Different open source APIs also need to be customized as per the client needs.
3) Technology:

Getting started with the best technology available within budget is crucial. Acquiring software and services by paying a recurring charge might prove beneficial for short term but in the long run, getting a customized software that gives scalability is important as well.

  • Software:
    Software tools like softphones,diallers, contact centre management software, Customer Relationship Management (CRM) software, ERP software, inventory management software, database management system,firewall and network security, company email and website are essential. There would be more and more complex software that need to be there as well.
  • Hardware:
    Getting the hardware front sorted through maintenance software, servers, backup servers, power back up facility, computer systems for employees, noise cancellation headsets, speakers, public address systems, projectors, televisions, internet lease lines, landline phones and diallers, are some of the hardware tools needed.

Miscellaneous Inventory:
There can be a need to have travel facility to employees or clients. Be prepared for even getting common company vehicles in case it is required.
Now that you understand the vital aspects and understand that capital costs, at myBPOfunding, you can apply for the required capital and take a consultation customized for your business.