Outsourcing to India – What are the Pros and Cons?

outsourcing pros cons

The Scope of Outsourcing in India

Being a top business trend, the question may come in your mind that what is the scope of outsourcing in a country like India?… Well, India has managed itself as a major hub for outsourcing business at the global level. Today many international companies, as well as Indian brands, prefer to go for outsourcing in India for better customer services.

With the growth of outsourcing day by day more and more companies rely upon this sector. But just like any other business, this also involves some pros as well as cons. Especially when you outsource to India, you need to check the advantages and disadvantages of this industry to stay yourself ahead of the competitors. So in this article, check what are these:-

What are the Pros?

Indian workers are most fit in international global economic appeal. But the cost is not the only factor for which companies outsource their business to India. Let’s check the other benefits:-

Cost-Friendly

As I said above, Indian labor is more cost friendly than other global players. On the other hand, an in-house team is costlier than hiring staff from an external agency. So, businesses can save costs on infrastructure, salary, and other facilities with outsourcing. Indian market is famous for the result-oriented customer services at easy-cost.

Time-Saving

Outsourcing helps to save enough time and resources to focus on your business’s core tasks as support functions are taken care of by the experienced staff of the external agency. Hence, you can emphasize on strengthening the core processes and meet your customers’ needs more efficiently.

Expert Handling

India offers expertise by delivering services to multiple companies of the same niche. Also, outsourcing vendors have access to specific equipment and technical knowledge to deliver the right services to end-users. Moreover, the country has a large number of English speaking people. This factor attracts international businesses to hire India to handle their customer support services effectively.

Improved Productivity

When you handed over your support services to the third party, you focus on the core components of your organization. As a result, the outcome of the organization improves on both the core and non-core aspects. Thus, outsourcing boost your business’s productivity as well as revenues.

Round-the-Clock Availability

With offshore outsourcing to India, companies can take the benefit of different time zones for round-the-clock availability. This allows businesses to serve their clients with flexible business hours, attracting more customers.

What are the Cons?

Apart from the pros of outsourcing discussed above, choosing a wrong partner can create more difficulties than benefits for your business. Let’s check what are these:-

Harm to your Data

When you outsource your services, you need to share access to confidential data with the outsourcing vendor. This may create the risks of sensitive data leakage or misuse, in case the outsourcing service provider doesn’t follow the essential security measures. So, you must be alert and need deep research while choosing your service partner.

Regional & Communication Differences

Outsourcing to an offshore partner can cause certain difficulties on various grounds like culture, geographical area, and language differences. Your company will need to adjust to and accommodate the social & cultural practices of the vendor. Along with this, the difference in time zones and speaking accent causes communication difficulties among businesses & service providers.

Hidden Expenses

No doubt outsourcing practice has gained grounds due to its cost-effective benefits, but partnering with a wrong service provider can add up more money. You might need to bear hidden expenses as well as loss of business due to inappropriate services, and others.

Lack of Control

Outsourcing your technical support means you will rely on the specific technology systems and products used by the service provider. As a result, you end up with losing control of managing the outsourced part of your business. So, in such case, you need to look for the right vendor using latest tools and technologies to meet up your business needs.

Conclusion

Now, you are aware of both the benefits and drawbacks of outsourcing when you choose India. So, if you are looking to outsource find a reliable partner in order to tackle difficulties and minimize the number of disadvantages. The right partner will enhance your business and take it to the new heights. It is very important before you decide to outsource that you consider the goals and the objectives of your company while choosing an outsourcing partner.

Original Source: https://www.theoctopustech.com/outsourcing-to-india-what-are-the-pros-and-cons/

Legal Process Outsourcing – What are Pros and Cons?

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What is LPO?

The legal industry surge to the outsourcing of complex tasks these days. The concept of Legal Process Outsourcing (LPO) includes research, intellectual property services, contract negotiation, and due diligence. Today, more and more companies are believing that outsourcing legal processes with expert knowledge is hassle-free and good for their business. But, what is the LPO?… The legal process outsourcing or most commonly known as LPO is an outside legal support service obtaining by any law firm or corporation offshore/ onshore for their legal solutions.

How Does it Work?

Setting up an LPO and working with freshers in not as easy as other outsourcing businesses. The complexity of terms, time management, and team alignment may hassle up the lawyers with no knowledge. So, a deep study is must to work like a pro. It is the process where in-house legal departments, private law firms, and organizations from different geographical areas outsource their work to lessen the burden.

Legal Process Outsourcing works with a skillful blend of forensic, technical and legal expertise. It requires deep confidentiality in nature so that the sensitive information of the client must not leak on any grounds. The main cause for outsourcing legal work is the convenience and efficiency of the expert service provider. Technology has shrunk the time and distance of different geographical boundaries which realize the legal firms to develop strategies to provide efficient support systems at a global level.

What are the Pros of LPO?

Cost Saving:- LPOs lessen the burden of spent cost on areas like legal research, skilled labor, document review, due diligence, contract management, infrastructure, and equipment. Outsourcing drastically cut down the operating cost by half. Thus, the reduction of cost help to invest more revenue in the core areas of your law firm.

Round-the-Clock Services:- Outsourcing the legal process offer 24/7 availability of customer support. This help to increase your business with maximum customer satisfaction. With high client satisfaction ratio, you can also stay ahead of your competitors.

Flexible Staffing Models and Scalability:- The latest staffing trends are more important for boosting your business growth. LPOs offers flexible staffing and scalability that developed your client base and recruit top talents to enhance business.

Focus on Core Business Operations:- LPOs decreased the load of recruiting staff and providing facilities to them. Thus, you can focus on the other core business operations that are more important to grow your business.

Latest Technology and Changing Trends:- No doubt, outsourcing to any law firm means to be occupied with the latest technologies. In this day to day changing tech era, the trends also change rapidly. So, it can be troublesome for small businesses to let go with all changing routines. LPOs help them in this matter as they are well versed with all the latest ongoing innovations.

What are the Cons of LPOs?

Communication Gaps:- Offshore outsourcing entails a lot of management to cover the communication gap between the client and firm. Communications between the service provider and its customer must be clear and continuous. Lack of communication generally considered the lack of caliber which may hamper the business. Outsource offshore legal processes feel critics over clients’ expectations either because of cultural barriers or ineffective governance.

Hidden Costs:- LPO’s may lessen the costs of services but there are some hidden costs that affect customer ethics. Hidden prices are added to the overall pricing of outsourcing service that includes employee turnover, rising operating costs, profit margins, and quality control. In such case, you can ask your service provider to provide detailed price list to avoid hidden costs.

Confidentiality Breaches and Complexity of Work:- Law firms tend to maintain the confidentiality of cases and information. This is the most important thing for customer relationship. The threat of leaking information often stops clients from outsourcing legal processes.

The Decline in Quality:- Legal work is not limited to reviewing documents and accounting. It all depends upon the deep analytics of case information and it’s related casualties. This required a skillful team which provides quality results. The decline of quality hampers your business.

Conclusion:-

Every industry have some advantages and some disadvantages, so the LPOs has pros and cons. Despite the cons of the LPO industry, there is a significant rise in the number of legal processes where third-party service providers have taken the lead. The cost-effective legal services provided by these third-party vendors with expert knowledge are result oriented and help to reach your business goals. With LPOs, business owners can attentively focus on the core business valuables.

Advancement in technology, low-cost workforce and quality results anywhere around the globe allows business owners to opt outsourcing agency for their complex legal tasks. It becomes the mainstream occupation of offshore as well as onshore attorneys, lawyers and law firms. Moreover, the high-quality English speaking lawyers, fast research and managerial tasks have proved more advantageous for legal outsourcing community.

Original Source: https://www.theoctopustech.com/legal-process-outsourcing-what-are-pros-and-cons/

Customer Advocacy: Is This Thing Even Real?

Customer Advocacy

Do you have a sales team that is tasked with creating leads and closing contracts? If this is so, then what are your current strategies? Do you have one for increasing your web presence to help boost sales through your website? Or one to re-engage leads by sending out email drip campaigns?

No wonder these are some of the most amazing techniques that can help generate new business for you. But, if such is the case, then you wouldn’t be reading this article right now. Isn’t it so? The real problem is these amazing strategies require the active involvement of an equally amazing team to make it work. More so true for startups who do not have the time or even the resources to invest in their business.

Won’t it be a relief if instead of burdening your team members with all the responsibility of your new business, you could share some of the hard work with your customers? Wait… what? Is this even real?

Yes, it is. And it’s got a name as well; Customer Advocacy. Wikipedia defines it as “a specialized form of customer service where the companies focus mainly on what’s best for their customers. It is a change in the company’s culture supported by customer focussed service and marketing techniques.”

In other words, it is everything that you do to put customers needs above yours. It includes never to pull a quick one over your customers to make a quick buck or to lie to them in order to land a sale. How else do you expect to turn your customers into the advocates of your brand? But before the how comes the why.

Why do you need to turn customers into advocates?

Because nobody will trust a new company in the market if they proclaim just how great they are. But wait they hear it from their friends about the exceptional customer service they received and see if they don’t believe this time.

Also, the loyalty of every brand advocate you make will always be with you i.e. he/she will continue to spend with your company only, add their lifetime value to your business and see if it doesn’t go through the roof.

You need to turn your customers into advocates because they lend a certain credibility to your brand by being a low-cost way to spread your message through word of mouth publicity which the majority of your marketing strategies fail to do.

How to create your own Customer Advocacy Program?

I have mentioned the following points keeping in mind that you are new to this whole customer advocacy thing, but even if you are an already established business, still there are a number of ways you can update and modify your customer advocacy strategy.

a) Before jumping headfirst into this program, take some time for preparation. First of all, develop your own working strategy (that too a solid one) that perfectly sums up your customer advocacy program. While doing so, carefully analyze how you will communicate the news regarding your customer advocacy program to those who are interested. For better results, pick your team that comprises of both marketing professionals and customer service agents.

b) After the team selection its time to select the right people among your customers to be your brand advocates. How? By reaching out to them at the right time in the right place with the right message. Usually, the best bet is the people who are already successful bloggers or the ones with a huge fan following. The idea here is to choose the customers with a reputation within the community and turn them into your best brand advocates.

c) Now you have both the right advocacy program and the right advocates to reach out to, all that’s left is get in touch with them and develop a relationship. How? Based on trust and mutual understanding. Think of your customers as friends, listen to them, invest your time, and show support to them. Invite them to test out your products before buying and ask for their feedback in return. Turning your customers into your brand advocates requires a continuous, ongoing effort.

d) Lastly, the feedback that you received previously can be passed down to your research and development team to be acted upon. Also, you need to make sure to provide your brand advocates with a proper platform that allows their voice to be heard. As a final step, its time to fully integrate your customer advocacy program into your current working schedule. The best part is, it will all happen naturally though it might require you to make efforts to keep the momentum going.

A strong customer advocacy program can help your business by converting customers into your brand advocates thus driving in new leads, increased ROI and an improved brand reputation.

Original Source: https://www.theoctopustech.com/customer-advocacy-is-this-thing-even-real/

4 Must-Have Customer Support Channels Your Company Needs

In the last couple of years, there has been a real revolution in the way consumers react with brands. Ever since the customers can reach the company via phone, there has been a tremendous decrease in the amount of letters sent to these companies. Another major impact came with the arrival of emails and web forms that have not only made our interactions with the companies that much easier but also given us the required time to organize our thoughts and prepare all details in advance.

Another revolution came with the launch of Facebook back in 2007 when companies started realising that its possibilities go far beyond than being just a P2P platform. What followed was a sudden and uncontrollable explosion of love and hatred coming directly from the consumers which ultimately led Facebook to upgrade its policies and provide tools for proper company/customer communication. Twitter and other social media channels were quick to follow.

Now, companies also understand this fact well enough, that’s why they try to deliver excellent customer support in the channels where their customers exist. For example, if your customers are more active on Twitter, then you will need to be accessible to them there and if they are avid email users, then they will expect you to provide great email support to them. I mean, you get the idea. The same thing happens for every channel.

But deciding on what channels to choose for customer support shouldn’t be left on guesswork, that’s why I have shared below four of the must-have customer support channels you should consider exploring and figuring out for yourself if these works best for your company and your customers or not.

Social Media

Social media also has its own distinctive way of running things where

a) Twitter works best for short question answers (recently increased from 140 to 280 characters).

b) Facebook excels in customer-2-business interactions due to its being more of a personal platform.

c) Instagram is unparalleled when it comes to food, fashion, lifestyle, tourism etc.

And the list goes on. All in all, social media provides an excellent way to speak directly to the world on their own terms though you must select the channels where you expect most of your clients to be.

Live Chat

Live chat work as an excellent customer support channel simply because

a) It gives you the ability to solve your visitors’ problems in real time.

b) It is an information-rich channel where clients can easily access information.

c) It works great for sales and upselling just like an actual salesperson.

Live chat, in the near future, is expected to replace the traditional shop sales and help you with the conversion process which you might have lost otherwise. But if you are not directly involved in online selling, then it might not be a good option.

Text Messages

Messaging channels or in-app messaging are the new trend. Some of the most common messaging channels are FB messenger, WeChat, Viber, WhatsApp etc. Its major features are

a) It a fantastic way to make yourself available when clients need you the most.

b) It offers convenience and flexibility to be contacted even during off hours.

c) Instead of forcing them to adopt new channels, messaging works well with the ones they are familiar with.

Like live chat, text messages also have a bright future ahead, the only difficulty seems to be selecting the ones your customers appreciate the most as there are many options available.

Email

Integrating email into your customer support strategy will be one of the best decisions of your life. There’s a reason why email is still considered as a mother of all digital interactions.

a) Email gives you ample amount of time to review your answer and reply at your own convenience.

b) Provides you with a good opportunity to reply faster to your clients.

c) Emails can be partially automated to cover most of the standard situations.

Just having a website makes it compulsory to have an email because sooner or later people will try to contact you via this channel. You can too, on your end, encourage people to use emails as they work wonders with complicated issues that require lengthy answers.

Conclusion:

Nowadays, customers want service that is both fast and human. Although both these ideas might seem odd at first sight, achieving them with the help of a multi-channel customer support strategy is pretty easy. This strategy works not only with the alignment of both the strength and weakness of each channel but also how the customers prefer using them.

Original Source: https://www.theoctopustech.com/4-must-have-customer-support-channels-your-company-needs/

How Call Centers help Reduce Operating Costs of Business

While looking to grow or expand your business, hiring a dedicated call center to contract out your customer support service can give your business the very edge it needs to move ahead of the competition. The business industry already understands this fact well enough that companies who outsource gain much in terms of reduced costs and a larger workforce. Some of the other reasons why businesses love outsourcing includes-

a) Calls centers have the capacity to run your company’s operations such as entering into the new market or increasing reach.

b) Can easily scale your business up and down according to current marketing needs.

c) Help acquire additional skills.

d) Extend businesses multilingual capabilities.

And many more…

As we can see, opting to outsource your customer support service can help you avail many such benefits for both your company and customers. But what of its cost-effectiveness? No business cannot operate for long without money. To answer this, I have mentioned below 3 important reasons in order to explain how hiring call centers can help improve the cost-effectiveness or, in other words, reduce the operating costs for your business apart from making profits.

1) No Extra Office Space-

It doesn’t matter whatever city you are operating from, extra office space always takes away a huge chunk of money from your pocket. Even if you are thinking about expanding your in-house customer support department, it’s still going to cost you a hefty sum.

But if you plan to outsource your call center services to countries such as India, Philippines, Ukraine etc. you won’t ever have to worry about spending another dime on renting office space.

2) No Loss of Business Outside Office Hours-

We all know how frustrating it can get when we are unable to contact a business whenever we wish to. It’s just that every time some issue arises, the customer’s calling time seem to match the time you are offline and customer frustration can ultimately lead to loss of business.

Wouldn’t it be better if this could somehow be avoided? Well, as it turned out, hiring a call center will render round-the-clock support service which will keep your customers happy and your revenue stream steady.

3) No Employee Management Salaries-

Though businesses love to be a source of jobs, it’s a bitter truth that employees are expensive. Just employing the in-house call center managers can easily set you back up to $5,000 a month and this doesn’t even include the cost of recruiting, training and managing the team members.

But if you hire an outsourcing firm, you can save all this money simply because call centers come already equipped with managers, employees, CTOs, CFOs etc. so you don’t have to worry about paying them from your pocket.

4) No More Employee Call-Outs-

No matter how responsible and reliable employees work for you, nobody can make it to work every day. They all have their personal lives which will sometimes lead to last minute days off from work. And you will be left spending valuable time trying to find replacements.

So, if you are outsourcing your customer support service to a call center, worrying about last minute employee call outs is yet another thing you can tick off from your checklist.

5) No More Employee Benefits-

As a business owner, have you ever noticed how much you pay every month for employee benefits and compensation for facilities such as insurance plans, paid vacations, retirement plans, maternity leaves etc.

By offshoring your call center, you can easily and effectively deviate all those expensive employee benefits to that third-party outsourcing firm you hired in the first place and, as a result, save loads of money in the process.

Closing Thoughts:

Finally, in the end, your decision to outsource shouldn’t be a complicated one. Apart from all the money-saving ways I mentioned above through which you can easily reduce your business’s operational costs, you also get skilled expertise to work for you at a reasonable rate, not to mention the improvements you will get regarding the business operations.

Original Source: https://www.theoctopustech.com/how-call-centers-help-reduce-operating-costs-of-business/