Business Process Management | MET

Future of Outsourcing in India

India presently occupies the top slot in the field of Business Process Outsourcing(BPO). However, it is doubtful how long will it be able to hold on to the spot as the smaller nations like the Philippines, Indonesia, Vietnam, Sri Lanka and other East European nations are eating up the share. Bangladesh is the latest addition to the league. As resources are available a cheap rate in the above-mentioned countries they are making a tremendous effort to increase their share in the global BPO market. The aspirations of the small countries have led to their stupendous growth. To know about best BPO companies or top BPO companies in Australia, you can refer to the recognised journals and reports.

Time will say whether India will be able to sustain in this competition and maintain its position in the global market. The leading nations are India, the Philippines, Malaysia, Brazil and Indonesia. China is leading the low-value services sector, whereas the Philippines leads the financial services division. It is also gaining projects in the fields of voice-based support, engineering and legal BPO. The gaming and animation services are taken care of mostly by Malaysia. Around 2% of financial services and voice related work have been transferred from India to the Philippines. Another 2%  has gone to the European nations.

India will continue to dominate the BPM space but there are reasons why the US and rest of the global firms will turn towards other destinations along with India.

For voice-based work, the Philippines is the preferred option due to a better voice/accent environment, though the services are costlier there. In a few cases, close proximity and time zones advantage near shore locations is chosen over India. Many firms believe that they are too depended on India, that might prove to be harmful to them in the case of natural disasters or massive currency swings.

Experts claim that it is true that a few nations like Mexico, Costa Rica, Europe and Poland have taken some share from India but the gains will level off as the resources are pricey than in India.

As per NASSCOM, around 1.1 million people work in Indian BPM industry. More than 500 companies in India are giving outsourcing services in 35 languages to more than 66 countries.

India’s position is eroding primarily because of two reasons: cost and niche expertise. The Philippines is known for its customer service delivery; Eastern Europe excels in IT and China in programming.

Points To Remember:

India is the leader in BPM industry with 36% global share.

Around 1.1 million people are a part of BPM industry in India.

Around 200 MNCs are operational outside India in this industry.

During the current fiscal 2016-17, Indian BPM industry has grown at a rate of 8.1%. (at $28 billion)

In 2015-16, global industry recorded a growth 3.1%. (at $186 billion)

It is projected that Indian BPM industry will grow at a rate of 8-10% and yield $54 billion by 2025.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Advantages of having Integrated CRM Software for the BPO Industry

Business process outsourcing industry is rapidly expanding. A robust CRM or customer relationship management software could immensely help an organisation to properly manage the interaction processes with clients, customers and sales representatives. At present, customers are mainly concerned about service improvements rather than cost containment. This has led the Software Development companies to transform the CRM as standalone service lines for most of the leading service providers. The trend is rapidly changing. Instead of focusing upon the core business, the priority is shifting towards process and technology improvements; multichannel and value-added services; the service quality and more innovative ways to address the increased levels of complexity.

Key Functionalities and Features of the BPO CRM

The entire functional structure of a BPO organisation is classified into various modules.

Functionalities of BPO CRM software influence different modules of the organisation. Let us briefly examine them.

1. CRM software would help the managers, sales representatives and executives to get their requisite resources for closing the leads.

2. CRM software helps to close the leads faster.

3. Sales target module of a BPO organisation would help it to convert the real-time visibility into successful sales.

4. The lead module of the BPO functional structure receives the biggest gains from the CRM software. The software kit would help the module to centralise the entire lead information.

5. The CRM software helps to gather all knowledge about the prospects at one place.

6. The CRM helps to accelerate the productivity of a BPO organisation.

7. With the help of an integrated CRM system, the sales target module can easily streamline its entire operations.

Features of BPO CRM are as follows:

1. BPO specific CRM is compatible with various mobile devices like tablets, phones and laptops.

2. The CRM system easily integrates with most of the ERP and accounting software.

3. There are various hosting options available with the CRM like the cloud and the server hosts.

4. Some BPO companies simultaneously run software development wings. As per specific requirements, one can customise the CRM thereby modifying its features to easily solve the sector specific problems.

Business Process Management is enriched by the installation of a CRM system. With passing time, more technically sound CRM software is coming in the market. BPO industry could take its help to gain more esteem and prestige from its client base.

MET

MET Technologies is to acquire positive business driven outputs and quality solutions for each and every client.

How to Generate Leads for your Clients?

You have sent mailers; you have printed flyers; you have developed an enviable list of followers, still you are not getting your expected pool of leads that could help you take to the next group of billion-dollar brand.

However, there are numerous ways to build a real store house of valuable leads. Here are top 5 significant ways:

  • eBooks

Developing an information laden eBook is a good way to generate leads especially for B2B organisations. Technology based global processes could extract immense benefit out of the creation of informative pieces presented in an easy manner. However, it is advised not to give a sales pitch in your writing.

  • Newsletter

Expert digital marketers suggest that all business websites should include newsletter functionality. Audience will receive newsletter after they willingly sign up for it. That is why, when you get a positive response from a newsletter subscriber, you win half of the battle. This pool of audience is interested in your service. Another significant matter with the development of newsletter is that you get email pathways. You may share your insights and achievements with your contacts.

  • Blog

If you want to have the undivided attention of your audience, you need to write valuable blogs. Make it sure that you create interesting and informative blogs to cater to your audience. Unless or until you create optimised blogs, you cannot expect to attract the undivided attention of your audience. That is why; site optimisation process is a very important objective to attain.

  • Twitter

Twitter is not only a powerful platform to portray your ideologies but also is a significant tool to generate valuable leads for your business. You could engage in valuable discussions with industry influencers like economic experts or economic journalists. Witty and informative discussions are bound to attract the attention of followers of the influencers. If they found your arguments to be informative or interesting then they would automatically start following you.

A trending subject could be searched or discussed about with the help of adding a hashtag before the term.

  • Networking events

There are few places where real life events are more helpful than the digital world and network-building is one of them. Parties and events are great places to spread your brand identity. You must always carry your business card with you and if you get an opportunity, please do not hesitate to ask for patronage of the industry bigshots.

Capturing the lead:

In the process of lead generation, after you have captured the pool of potential customers, you should evaluate the entire pool. Some are serious about knowing your business and some are not. After making separate lists of such audience, the nurture stage comes into existence.

Nurturing the lead:

Nurture bucket includes that group of audience which has not surrendered to your business objectives. This is a critical group and you need to step-in cautiously to bring it with the line of your business objectives. This is a slow but continuous process. One should avoid being overtly business-centric and pitch in sales process indirectly through giving valuable contents and sales offers to them.

Score

Score is the process where potential leads are diverted into separate sales funnels. Based on the size, demographic and lead quality, overall leads are provided with scores.

Giving

Information that you have gathered through the above 3 stages should be carried forward to the sales team so that they could use it effectively.

Evaluate

To prepare a refined scoring algorithm one should make a careful evaluation of the leads and it should be a combined effort between the Business Process Management and the sales team. One should keep a flexible framework so that based on priorities of the business condition, one could alter the initiatives.

MET

MET Technologies is to acquire positive business driven outputs and quality solutions for each and every client.

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