Many organizations across various sectors have acknowledged that their contingency and operational plans were not prepared for the disruption caused due to COVID. According to a recent survey and study, around 81% of Indian businesses reported a cash flow decrease.
The disruption in decreased sales has led to many businesses facing organizational and financial challenges. During such uncertain times, it can be difficult to find solutions for these problems and meet the demands of customers, clients, and staff.
So the question arises – How can businesses increase productivity, improve operations and boost sales?
Outsourcing is the Solution!
In such a scenario, business process outsourcing can help organizations focus on the core aspects of their business while outsourcing agencies can handle other functions of their customers and clients.
Outsourcing can allow organizations to improve their efficiency and productivity while increasing their capacity, thereby enabling them to meet the immediate demands of the customers.
What Business Functions can be Outsourced?
There many business functions that can be outsourced to reputed third-party service providers. They are:
● Customer experience management
● Lead generation
● Data management & research
● Digital lead automation
● Digital business process automation
● AI-enables chatbots
● Omni-channel CRM
Benefits of Outsourcing During the Pandemic
COVID has impacted many organizations, especially startups and businesses in the healthcare, insurance, e-commerce, financial, marketing sectors. To ensure the business is on track during the pandemic, outsourcing is one of the most viable options that will spring organizations back to their feet.
- Focus on Core Functions
An excellent way to focus on the core functions of the business is by outsourcing non-core business functions while providing good product features and customer satisfaction. By partnering with a trusted outsourcing agency, organizations can focus on taking their business to the next level and drive their profitability.
For instance, day-to-day tasks like lead generation, data management, digital lead automation, and customer support can be outsourced. These agencies make use of expertise like AI and machine language (ML) to provide great results in minimum time.
- Cost Optimization
Due to the ongoing lockdown, many businesses are having a difficult time selling their products. Also, hiring an in-house team can prove to be expensive even for big organizations as it takes huge sums of capital to hire, train and manage.
Hiring a professional outsourcing team that has a pool of experts can help you complete the required work quickly without spending a lot. Organizations that outsource their business are likely to witness a 20-30% reduction in operational costs.
- Improve Business Efficiency
Companies can improve business efficiency significantly during the pandemic by outsourcing. This is true, especially for startups. 24% of small businesses prefer outsourcing to increase business operations.
Outsourcing administrative functions, data management, and other day-to-day tasks can help in the smooth functioning of business operations and ensure maximum profitability.
- Customer Delight
Customer expectation and their way of shopping have changed immensely during the pandemic. Almost 80% of the consumers are expecting exceptional customer service during the pandemic. What’s more, online retail sales were up by 32.4% in 2020 and are up 39% in 2021.
This shows that many consumers have moved to digital mediums for shopping. However, this brings forth a lot of customer queries, and companies have to step up their support services to answer them.
Outsourcing customer support and improving customer experience management is the best way to improve customer loyalty, boost sales and ensure customer satisfaction.
- Ensure Business Continuity
The lockdown has affected the way many businesses function. With work from home being the new norm, many departments within organizations are facing issues to conduct business smoothly.
The business continuity provided by outsourcing is one major advantage of the process, particularly in the context of working from remote places during the pandemic.
Outsourcing can ensure continuity to organizations and ensure that the job is done in compliance while meeting the negotiated deadlines. This is one of the most important focuses for almost any business.
Final Thoughts
The ongoing pandemic has disrupted and shaken the ground of many organizations in a short time. Hence, collaborating with a reputed outsourcing agency is a crucial move that will surely improve productivity, better sales, and higher efficiency.
Sources:
https://www.statista.com/statistics/1106061/india-impact-of-coronavirus-on-cash-flow/
https://capitalcounselor.com/outsourcing-statistics/#:~:text=83%25%20of%20IT%20leaders%20are,the%20efficiency%20of%20their%20business.
https://www.business-standard.com/article/current-affairs/80-consumers-expect-better-customer-service-amid-covid-hiver-research-120102901673_1.html
https://www.digitalcommerce360.com/article/coronavirus-impact-online-retail/
