business-process-outsourcing

What is BPO?

by Business

Business Process Outsourcing

Business Process Outsourcing is the general term for contracting out non-primary business activities to a third party.  

Running a business is more than simply delivering a product or service to a consumer.  Every company has secondary business processes that are important for the success of their enterprise, but aren’t necessarily their primary lines of business: things like billing and collecting, customer service & support, data input, IT support, etc. 

And really, many of these processes are time consuming, and therefore costly. Outsourcing these activities to a BPO provider, will allow your business the flexibility it needs to operate in an ever changing market.

Delegate, Delegate, Delegate

When a company is spending time and money on “non-core functions,” they are sacrificing the benefits of those resources being used on their primary revenue generating activities. Do what you’re good at, delegate the rest!  

Reducing opportunity costs, and focusing on core competencies will make a business more efficient and will allow for greater return on investment. 

Delegating tasks creates efficiency in your operation, and opportunities for your business.  

Outsourcing can free up the human and capital resources you need to invest in long term projects, penetrate new markets, scale your business, and help you mitigate risk.  

Business in 2020

2020 has brought about changes in the way business is done.  Adapting and adjusting to dynamic markets will require businesses to start thinking in new ways about their business models.  Whether you are a small business seeking cost effective ways to enhance your brand, a medium size firm looking to focus on growth verticals, or a large company seeking ways to reduce overhead and increase shareholder value, outsourcing is a great way to accomplish these goals. Every company can benefit from outsourcing in many ways with the right partner. 

TSI is committed to being that partner who can meet the demands of any business large and small.

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Nearshoring in Nicaragua

by Business

Domestic, Offshore, Nearshore

There are call centers located all throughout the world, serving markets all across the globe.  In the United States, when companies are seeking an outsourcing partner, they will often evaluate between domestic, nearshore, and offshore options.  What exactly do these terms mean?

Domestic business process outsourcing providers are U.S.-based locations that provide outsourcing services across multiple industries and verticals. From the major outsourcing firms, to small and medium sized BPOs, there are plenty of outsourcers who provide call center services in the United States.  Benefits of outsourcing to a domestic partner include ease of communication, common culture, and drawing from a qualified talent pool.  Among the trade offs though are that they often come with a heftier price tag, and could be costly investments for your company.  

Offshoring is an outsourcing arrangement usually performed at locations much farther than your place of business, usually on the opposite side of the world. US companies that use offshore partners will have their centers located in eastern Europe, or India, Pakistan, the Philippines. Using offshore centers can be cost effective, however linguistic, cultural, and time differences should be a consideration when choosing your offshore BPO partner. 

 Nearshoring provides a generous compromise between the benefits provided by domestic and the cost effectiveness of offshore.  Nearshore call centers are typically located in places that share similar time zones to the customers they serve. Examples for the United States include Canada, Mexico, the Caribbean, Central America and South America. Nearshore centers are easy to access as they are usually just a day’s trip away.  For instance, the TSI call center is located in Managua, Nicaragua.

Why Nearshore in Nicaragua?

Nicaragua is nestled in the heart of Central America; just a short two-and-a-half hour flight from Miami, and less than three hours from Houston.  When you select an outsourcing partner it is important to understand who will be representing your company, brand and customers, and how effective they will be at doing this. Nicaragua has close cultural and historical ties to the United States.  

Everything from television and movies, to baseball being the national pastime, and scores of Nicaraguans having family and friends in the United States, it is one of the more “American-influenced” countries of Latin America.  In fact, many of our agents have spent time or lived in the United States, and are very much acquainted with American accents, slang, idioms, colloquialisms, etc.  Most importantly, they understand the American customer.

Nearshoring provides an effective way to manage a working partnership between company and vendor for the most optimal results while maintaining a cost effective way to reduce overhead and increase profits to your organization.

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An Outsourcing Analogy

by Business

Focus on Core Competencies

The big picture is that you should analyze all the components of your business, and decide what are the tasks and processes that you want to keep in-house, or what are the things that give you a competitive advantage over others; what are your primary revenue generating activities? Build your business around those things, and delegate the rest.  

Make your products, get them to market, but let an experienced team handle your customer service.  Perhaps you need an IT team to develop an app for your company.  Instead of hiring a team of engineers, just outsource it to a BPO provider.  Everything that is not a core competency for your team should be outsourced.

An Outsourcing Analogy

Consider the following:

A local credit union has been in operation, serving their community for several decades.  

This bank, however, needs security guards to protect its workers and assets at all times, every day.  

The bank could put out an advertisement, looking for security guards, interview several prospects, and hire three people to protect the bank 24/7.  But what happens when one of the guards gets sick? Or needs to attend their child’s graduation? Which guard will be working on Thanksgiving?  Which bank manager is going to shuffle around the shifts to make it all work?  Who wants that headache?  

The credit union is in the business of banking, not security.  However, the credit union must be secure and protected if it is to be successful.  

So instead, the bank outsources its security needs, and hires a firm that specializes in protecting banks. If a guard gets sick, or must attend to the necessities of life, the company finds a replacement for him, because THE COMPANY is in charge of security, not, the bank.  The bank is protected 24/7/365, and no longer needs to worry about handling security, and can instead focus on delivering high quality banking services to its customers. 

TSI works the same way.  Focus on your core competencies and let us handle the background noise.