So you’re the CEO of a rapidly growing company, and it’s pretty much your baby. You’ve likely invested your time, effort, ideas, money, blood, sweat and tears into the business - and it’s paying off. But as your growth has accelerated, it’s only natural you’ve come to the same crossroads that countless other entrepreneurs have: can we grow at this rate without help, or do we need to bring someone else in?
If you’re new to the world of outsourcing, you might be at square one, wondering: “what is BPO?” Or if you’ve dabbled with an outsourcing engagement in the past, you might think choosing a business processes outsourcing (BPO) partner is fairly straightforward. Check out the company website, determine if they seem qualified and then find out how much the services you need will cost. Whichever company can give you what you’re asking for at the lowest price wins your business because cost reduction is most important of all. Right?
Not so fast. This is a common mentality among businesses that are just beginning to think about outsourcing, but it can backfire and be a disastrous way to choose a BPO partner.
Many companies first become interested in the advantages of outsourcing when they reach some sort of tipping point. This usually happens as a result of one of two things: 1) Volume has exceeded resources, or 2) Advanced expertise has become a requirement. Although these scenarios look different from company to company, the underlying mindset is almost always the same: “We need help and need to find it outside our own walls.”
Here are a few key indicators you might fall into this category, and may be ready for outsourcing:
First, there were physical storefronts. Then came e-commerce. Now, there are both - and it can create a complex and competitive environment for companies that have both physical and digital presences. Technology, and the fact that customers can be standing in your brick and mortar store and surfing your website on their smartphones at the same time, has blurred the lines between physical locations and e-business channels. No longer are these entities separate, nor can they be treated discretely.