The Business Process Outsourcing (BPO) industry has long been proved itself on its ability to evolve and keep up with the change. From humble beginnings to today’s customer-centric business ethics, the BPO industry is the world’s fastest-changing industry.
Never has the need to embrace change been greater than recently. The COVID-10 crisis has forced the sector to be more dynamic than ever. Like all sectors, the BPO industry experienced early challenges as the pandemic swept the world but is rebounding to continue its recent growth trajectory. The BPO industry’s ability to withstand the pandemic’s negative impacts is highly commendable.
The increasing need for finance businesses
Scaling a finance business amidst the global pandemic can be overwhelming. However, despite the change in the economy, the international financial services market is expected to grow by $22.5 billion in 2021 at a growth rate of 9.9%.
It has now become essential for finance businesses to do everything they can to sustain a competitive advantage; even if that means hiring one of the best BPO companies in Kolkata. So let us talk about the tactics that you can use to grow your finance venture.
Invest in AI and automation
In about four years, ventures that adopted artificial intelligence (AI) have grown by 270%. Consumers these days yearn for quicker response times from banks. With the rise of digital banking, financial institutions need to find unique ways to meet these demands. AI-backed chatbots are an excellent solution to this issue.
Artificial intelligence and automation applications are “super data” processing machines, meaning that they can extrapolate large amounts of data, create important information for key business decision-making. They can even take care of tasks to free up your time and budget so that you can focus elsewhere.
Assess brand reputation online
Social media use continues to go up around the world. Assessing how your finance business is measuring up against the competition across social media is vital in today’s connected world. Additionally, lead generation is key when considering growth online. Improving your brand’s social selling is helpful in generating new leads from a sales perspective.
It is not as straightforward as placing a paid ad on Facebook. Businesses need to make sure they are readily available to consumers waiting online by answering their questions, showing off finance expertise online either through chats or in general social media posts and blogs.
Consider alternative resourcing
One of the many reasons finance businesses struggle to grow is a lack of funds to invest in alternative resources to seize growth opportunities. Outsourcing is an alternative resourcing plan that takes care of your recruitment process so that you can focus on what you do best. By hiring an offshore team, your business can free up funds that can be used to reinvest into the growth of your business. With the additional help from an offshore team, you will be able to increase your capacity to take on more work.
Business growth and improving efficiency depend on the decision you make. Get started with Met Technologies for outsourcing services related to your domain.