Outsourcing

Outsourcing refers to the agreement between two companies where one company provides and manages the task of the other company at a cost.

There are different types of outsourcing. The classification is based on the type of work or task being outsourced. The first type of outsourcing is the IT based. IT services provided by BPO companies include design, management of IT processes as well as web services, development, and implementation. The second type is customer servicing and management. This type of service is also called voice outsourcing since it involves communication between customers of clients and the BPO employees through voice and web media. BPO companies also provide other services such as accounting, marketing and HR functions. To determine which sort of outsourcing companies can provide a specific task, clients can browse through the internet for free BPO companies list.

Reasons Why Businesses Outsource Tasks

There are many reasons why organizations and businesses outsource their tasks. Some processes when employed to BPO companies results in cost savings for the business. This is because some employees offshore tend to have lower cost of living and in turn accept jobs with lower salaries compared to westerners.

Another reason is that some processes which consume enormous amount of time and resources can easily be done by other companies that specialize in such tasks. And again this comes at a lower cost.

Determine the Right BPO for Specific Tasks

Organizations can gain a lot of benefits by hiring BPO companies to perform specific tasks. To evaluate which BPO companies are the best for a specific task, and at the same time offers lower costs of services, clients can search and browse through the internet for a free BPO companies list and profile.

History

India has probably experienced the fastest growth rate when it comes to the outsourcing industry. During the early times of globalization in India, the telecom sector was under the control of the government. The state had complete monopoly over the industry. However, in 1994, the government encouraged private sectors to participate in the market. In 1999, the government implemented the New Telecom Policy. This new policy ended the monopoly of the state on the industry. The policy heralded the time for the BPO industry. The first outsourced service was the medical transcription. The first players of the BPO market were GE Capital, British Airways and American Express.

Outsourcing Today

The BPO industry of India is in existence for less than a decade. However, it is now one of the most integral parts of IT software services. From their humble beginnings, the Indian companies now provide services to multinational business clients such as customer care, billing services and database marketing, transcription, web marketing, tax processing, accounting, telesales and telemarketing, transaction document management, HR hiring and biotech research.

The government of India has identified the BPO industry as one of the key contributors to the economic growth of the country. Companies in first world countries prefer the services offered by India since their services come at a cheaper cost. Also, overseas companies, by outsourcing their processes to India, experience substantial improvements in productivity and quality. The companies note the increased number of correct transactions over total number of transactions, and the increased number of transactions done on a given hour. These benefits that companies gain from outsourcing has increased the list of BPO companies in India.

Large List

The list of BPO companies in India would reach over hundreds and hundreds of companies. They have outsourcing companies in Ahmedabad, Bangalore, Chandigarh, Chennai, Coimbatore, Hyderabad, Indore, Kochi, Kolkata, Lucknow, Madurai, Mangalore, Mumbai, Nagpur, Delhi, Noida, Gurgaon, Faridabad, Pune Thiruvananthapuram, and Vadodara. Among the many outsourcing companies, the top companies according to the National Association of Software and Services Companies (NASSCOM) are Genpact, WNS, IBM Daksh, Wipro BPO, Tata BPO, Firstsource Solutions, Aditya Birla Minacs, Aegis, Infosys BPO, and HCL BPO.

Outsourcing is becoming a part of the business culture. Large companies such as Microsoft, IBM and General Electric outsource some of their business activities both on and offshore. These processes include development, daily operational functions and research.

BPO is readily available to companies and businesses due to the advanced internet technology and affordable bandwidth connectivity. There are many reasons why businesses and organizations choose to outsource their processes. One of the main reasons is the substantial cost savings implications of outsourcing. Another reason is the access to top professionals the BPO companies provide. Expansion of resources and capabilities as well as the possibility of freeing up capital to focus on other strategic projects are among the benefits of outsourcing.

Sonitek International

Sonitek is a BPO company based in Ontario Canada. The company provides their clients with services such as website design and website development. They also specialize in search engine optimization marketing. The company is able to bridge the gap between Canadian and Indian corporations.

Sonitek helps their clients minimize their operating costs by combining Indian and Canadian costs. They also provide real time account management of all processes outsourced.

The company has only been in existence for twelve years and yet it is able to provide cutting edge services to their clients.

BPO Canada

BPO Canada is probably one of the oldest BPO companies in Canada. The company provides their clients with services such as Accounting, Finance, Logistic management, Supply chain management, Legal support, and Customer relationship management.

This company is based in Surrey, Canada. The company also has offshore center for software development in India.

Cymak Canada

Cymak Canada is one of the BPO companies in Canada. The company is based in Ontario. Cymak is spearheaded by experienced and competent professionals. These professionals lead the company in providing services to clients such as web design and development. Their core services include E-Commerce development, I.T. consulting, Multimedia Services, E-mail solutions, Web development and hosting solutions and other customized project deployment.

The company aims to help their clients present themselves and their services to the world by making it accessible across the globe by providing them with high quality websites and by giving web based solutions.

An English Speaking Population

India is one of the English speaking nations in the world. Their proficiency in the language gives them an edge in communicating with their clients and with their clients’ customers. This allows them to give better services to both clients and customers.

Their ability to speak the language articulately goes way back to the nation’s history. The country was once under the colonial rule of Britain. During the course of the rule, the country gained knowledge of the language and eventually learned how to speak and write it. According to statistics, India is the second largest nation in the world to speak English (second only to the United States). Apart from this, Indians are said to speak a variety of accents such as American, Canadian, British and Australian. This makes BPO company in India such an attraction to clients all over the world.

Other Languages

India acknowledges the growth of the BPO industry. More and more outsourcing companies are being put up across the globe. One of the recent set ups are those in East Asia and continental Europe. As such, Indian BPO employees are starting to learn foreign languages such as Spanish, German, French, Japanese and Korean. By being equipped with these languages, employees of a BPO company in India can serve their clients and the customers of their clients who are based in these countries better.

Cost Saving

Probably the most important reason why clients go for the BPO company in India is the cost saving implication of outsourcing their business activities to the company. The currency of the country is set at an exchange rate of 50 rupees to 1 US dollar. Indians are also said to have lower cost of living compared to other nations. Furthermore, employees from India settle for jobs with salary of only 25 percent of those earned by westerners. Most would probably have second thoughts of hiring a company based in a third world nation. Clients, however, need not worry about the efficiency and competence of those working in outsourcing companies based in India.

There are many outsourcing companies today, which is why making good “BPO companies profile” would immensely help in giving these companies an edge over competitors. It could also help attract the right clients.

Right Terminology

Most probably don’t realize how important it is to use only terms and jargons that both lay persons and industry personnel can understand. It would be pointless if companies would put in their BPO companies profile terms that would not present a vivid image of their vision, history, and products and services.

Personality

It would also serve well if the profile of the company is not just filled with information regarding the products and services, but also with descriptions of the personality or the culture of the business. It would further interest clients when a sense of human personality is fused into the profile. This is because “people relate to people” and not to empty and hollow service information bereft of human perspective.

Unique Qualities

There are probably over hundreds and hundreds of outsourcing companies across the globe. This is why pointing out the uniqueness in their BPO companies profile is important. One way of doing this is by giving out details on the special awards and accolades the company has received over the course of their existence. It would also help if they give a brief summary of their activities such as donations and volunteer community works. This provides the reader with an idea of the character of the company in general.

It would also help if the company elaborates further on the education, credentials, trainings and experiences of the staff of the company. This presents an image of how competitive and competent the people behind the company are. Through the profile, the customers can assess if their goals, priorities and needs are in lined with those of the company’s.

These are just some of the tips on how to make a good company profile. There are many more ways on how to present the company in a manner that attracts clients.

Meet the Global BPO Leader: Genpact BPO Company

Genpact is India’s and the world’s biggest business process outsourcing company. It offers a broad range of services to client companies worldwide and operates extensively in many countries across the globe. As a global player, it provides services to almost 30 different languages used in commerce across the globe. It is also undeniably the world’s biggest BPO company to date and it operates from India.

History

Genpact is originally an Indian based solution provider that is established by GE to cater to its business processing needs. Around eight years, in 2005 after its establishment, capital was infused by two other companies and it became an independent unit that was designed to cater to the business process outsourcing needs of companies other than GE. Since then it has been a spectacular rising star in the BPO industry. To date, it has managed to stay on top of the game by enriching on its expertise and branching out to other business processes demands as well.

Genpact in Asia

Genpact has its headquarters in India and it is also here where the bulk of its operations are located. It operates facilities in the cities of New Delhi, Jaipur, banaglore, Gurgaon and Calcutta. Operations in the county include customer relations management, actuarial and insurance services, information technology, financial service collection, accounting and sales, and marketing analytics. Clients of the Indian facilities include companies outside Asia.

In another part of Asia in China, Genpact is also a major player servicing the outsourcing needs of the burgeoning manufacturing industry of the communist republic. It offers services both in Chinese and English languages and they employ approximately 3,000 people in every single facility they operate in mainland China.

Genpact in the Americas

Next to operations in India, the facilities in the US are the most numerous and have the biggest transactions. This is due to the large number of BPO service demand in the country. It has facilities in a number of states such as  Tennesse, California, Utah and New Jersey. They offer finance and accounting support, revenue management services, and mortgage services for financial institutions and money lenders in their areas of operation.

In Mexico and Guatemala , Genpact is a big player offering Hispanic and English translation services where they operate bilingual call centers. Financial and accounting services, customer relations management, revenue collection and data management services are also being offered.

Choosing the Right BPO Services Company

Choosing the right BPO Services Company can be a daunting task. With the enormous number of business processing outsourcing companies in the industry, there are a lot of choices as well as things to consider when choosing. Here are some thought you might want to consider when looking for the right service provider.

Most BPOs offer dedicated services in order to help find solutions to many business problems. Making the company people happy is their business and most are expected to fulfill such expectation. However, as a buyer, you also have to be wary of fly by night and incompetent firms that might just ruin your business. There are plenty out there riding on the wave of the BPO industry success. Here are some tips that will help you choose the right BPO Services Company.

Strength and Expertise

The major consideration in choosing a BPO Service Company is its strengths and expertise as seen in its previous performance. If the company is new, you can judge it through the qualifications of the personnel manning them, or if they have international standard certificates to their company name. Just as a person cannot have all the talents and skills, a company may only be able to provide services on a considerable scope. If you find a company that poses to do everything that you company might need, from IT services to academic writing to collections processing, it might be too good to be true. Well, we could say that they have grown to a considerable size that they are able to manage that many aspects in business processing though various departments. You might give them the benefit of the doubt. But look around you and their might be other companies that offer highly specialized services. Chances are, these dedicated companies are able to offer better services than the jack of all trades.

Financial background

It would also be good if your partner BPO is able to share in the risk of the transaction. Otherwise, this like hiring your own employees and managing the risk yourself. A BPO in good financial standing might be able to this. Risk sharing is among the many benefits in outsourcing. If you can find a BPO service company that is willing to do this, then you have found yourself a reliable partner as they themselves will have a stake in that particular business undertaking.

Secrets of the Sourcing Superstars: The Largest BPO Companies

Many companies, from the small to those that belong in the fortune 50 list are turning to business process outsourcing companies for many aspects in their companies’ operations. Thus, anywhere in the globe, BPO companies are on the roll with profits ever increasing and volume of business on a flow. However, there are top performers in the industry. What do you think are the secrets to the success of these outsourcing superstars? What does it take to be among largest BPO companies?

Employee Satisfaction

As with any company, a good human resource management strategy is key to a successful business operation. Elements do not stop at giving generous compensations. The working environment, co-worker relationships and a lot of non – monetary elements play as well. Every HR manager in any company knows this. But for a BPO company, it is another ballgame. Because it is a very labor – intensive kind of business, an HR nightmare is not far behind. Medium – scale companies may manage up to more than 5,000 workers in a single facility. However, the BPO biggies, both from the US and India, must have cooked up a recipe for a successful HR management. Not only are they performing very well in the business front. Many of the largest BPO companies are often cited as the most preferred employer or “dream employer” by employees.

Global Operations

The American and British biggies have in the recent years been putting up facilities in third world countries, especially in India and the Philippines. These two countries both have a big English speaking population, and is therefore the natural choice for a BPO company. However, one would wonder why the need for these BPO giants to bring their business offshore? Obviously, the cost of labor in these countries is cheaper compared to that of the US and the UK. Since a BPO is naturally a labor intensive affair, operating in these countries brings costs down and allows them to offer more competitive rates to their clients. This gives them a big edge in terms of market capture.

Aside from taking advantage of the lesser human resource cost in these countries, a global operation across many countries gives a sense of company stability and durability. This adds to the credibility of the company as a global solutions provider.

So there goes, those who are top in the BPO games, the largest BPO companies, share these common traits. First, they treat their customers well, then they are adept in looking for ways to drive costs down and make their clients happy.

Be Better with a BPO Project Outsourcing Company as a Partner

Tired of the HR nightmare in your business? Or you always get cash – strapped and out of marketing ideas? Are you having a hard time finding the suitable IT guy for your database? If you answer yes to one or all off the questions above, it is time to get a BPO projects outsourcing company as a partner.

What is BPO?

BPO stands for business process outsourcing. This is a popular mechanism used by both small and large companies where they hire another company to manage or provide services for a segment or two of the company’s operations. The scope and kind of services vary a lot and many BPO companies tailor make their services to the actual needs of the client company. It can be a service in recruiting and screening personnel, or establishing a database, or manning the collections department. Projects can also be short-term or long – term and are given out via contracts.

BPO companies are often referred to as offshore processors as many operate in countries that may be far from the client company. All transactions are usually done electronically, including the manner of payment of services.

How can BPO help businesses?

There are a number of advantages in partnering with a BPO project outsourcing company. It provides a cost-effective means of meeting the requirements of a company’s operations. The usual outsourced services are software development, customer relations management and collections. Instead of creating a whole new department, training personnel and/or hiring experts into your company, you can just pay a BPO company and have the work done with. These companies already have the necessary infrastructures and people in place so they can readily answer your needs. And because the cost of these infrastructures and people’s hours are shared by many clients, the BPO company is able to charge on a per order basis and save you money. You get away with investment costs and fixed costs and you get the results immediately when you need them.

Where can one find a reliable BPO partner?

A reliable BPO project outsourcing company may be found on the world wide web. Most operate in India, Philippines, Thailand, China and the US, while a few companies are based in the UK, other parts of continental Europe and Latin America. However, you need not go to these countries in order to hire them. Transactions can be done electronically and big companies also have representatives in cities with big business process outsourcing supply.

On top of the World: the Top 20 BPO Companies in India

Do you know that the top 20 BPO Companies in India are also among the top BPO companies in the world? No wonder nowadays that the world turns to India when it comes to business process outsourcing. It is home to many of outstanding and trusted BPO companies. Meet some of India’s top performing BPO companies here.

Genpact

Genpact was established in 1997 as the business process operations of the company GE Capital. It served the company’s operations from within India where skilled labor is plenty and relatively cheap. Eight years later, it morphed into an independent company, with fresh capital from two more companies, and was renamed Genpact. Today, it is the No. 1 BPO firm in India but has expanded operations in eight other countries and has more than 30 operation centers over all. It has over 35,000 employees and offers services in collections, customer service, supply chain and procurement, finance analytics, business accounting, enterprise applications and information technology services.

IBM Daksh eServices

Originally called the Daksh eServices, it was renamed IBM Daksh in 2004 when IBM acquired it. This company is said to be the fastest growing business process outsourcing company in India. It has a work force of over 5,000 people. It specializes in customer care and back office processes. The services it offers include customer relations management, technical support, collections, and finance transaction processes. The company, who is among the top 20 BPO companies in India operates five facilities in the country, four in New Delhi and one in Mumbai. Daksh’s list of clients includes top global conglomerates operating in the north. It has been consistently a top rank company in many ratings and awards competition in the BPO industry worldwide.

Efunds International

Despite just being fourth on the list of the top 20 BPO companies in India, it is the “Most Prefered Employer” in India, according to a study. This is testament to the fact that employee satisfaction is a big factor in the business performance of a company. It is involved in electronic funds networking, provision of financial services and software development. It has a work force of around 4,000 employees and runs three facilities in two cities in India. It is also among the firms that has internationally recognized security standard, the BS 7799 certificate. Outside India, it has several facilities offering the same business processing services.