In the ever-growing world of competition, businesses are becoming more and more dependent on BPOs for a large section of their core and non-core operations. BPOs are responsible for boosting revenue, maximizing productivity and reducing overhead cost.
As a result, the BPO companies today faces challenges in fields of Information management and Reporting. The upsurge in Big Data and Social Media has made things even more difficult. Thankfully all these problems can be solved with the use of Business intelligence solutions.
A Business Intelligence system can help BPO companies in many areas such as collecting data from customer interactions, analyzing it to understanding of what a customer wants. It also converts the data into actionable recommendations which can improve the performance of each department.
So how exactly can business intelligence improve the performance and operation of a BPO? Let’s find out.
Operations: Efficiency vs. Cost –
To attain success, BPOs need to strike a balance between cost and efficiency and that can be quite a challenging task. A Business Intelligence system can offer the entire operation process with accurate information available at the right time to right people.
It provides with analytics to measure –
- The factors that are affecting the efficiency and
- The factors affecting the cost.
With such information available at hand, BPO Managers can strike the right balance between both by making informed decisions.
Performance Management –
Managers can now take a break from time consuming data collection and reporting. The Performance management solution can empower them to capture as well as share customer data across the company.
The solution includes a series of procedures and Key Performance Indicators (KPIs) that needs to be captured, tracked as well as reported in order to make sure that departmental objectives are being met.
BPO voice process and non voice process, both can depend on Analytics and Reports to quantify the performance and take suitable actions to boost agent performance and lessen the effective operational cost.
Knowledge Management –
Intellectual capital and its successful use will be the key to gain competitive advantage in the rapidly changing global economy. Business Intelligence system can offer a basis for an end-to-end information management.
Using a Data Warehouse with Business Intelligence will allow an organization-wide system to cultivate new knowledge to gain competitive advantage, enabling access to a wide range of project as well as process information and sharing the best practices evolved in this course of working.
Faster & Accurate Results –
Accurate reports and analytics can assist management with higher efficiency and in turn better customer satisfaction. Business Intelligence can integrate information from different systems in the BPO and fuse it into a single, easy to manage data repository to be used for providing personalized performance dashboards, automated reports as well as advanced analytical capabilities including drill-down, sorting and filtering.
We at Fusion believe that BPOs can offer major business value to their customers by deploying Business Intelligence.
From enhancing the top line to finding new avenues to reduce bottom line; from analytics on recruitment to retention; from trend analysis to customer retention; from profits to expenses; – Business Intelligence can provide enormous benefits.