At one point or another, many businesses reach a stage where they need to delegate some intensive processes to another provider.
This delegation, usually called Business Process Outsourcing (BPO), helps small businesses avoid hiring full-time teams to manage and measure the performance of different business processes. BPOs offer benefits from cost savings to a strong competitive edge, and they can help new and upcoming businesses grow more efficiently.
Delegating one or more business processes doesn’t come without risks, though.
For every function or process that a business outsources to an external provider, the more organizational information they potentially jeopardize. The greatest threats to BPO, chief among them hidden costs that come with outsourcing, can severely damage a business’s customer push-back and satisfaction rates.
To that end, let’s explore the main risks involved in BPO projects and how to mitigate them, as well as get a quick intro to BPO with specific examples and benefits.Continue Reading