When people think of business process outsourcing (BPO), they may focus on a variety of points that aren’t entirely accurate. The BPO industry is surrounded by myths that impact companies who may be deciding whether these services are right for them. To help you sort through the misconceptions and find the truth, here are some facts that debunk many common BPO myths circulating today.
One of the most widespread myths regarding BPO is that choosing to outsource certain business functions results in the loss of local jobs. The truth is, BPO is an operational strategy that leads to lower costs for the organization. Often, these savings translate in one of two ways: lower prices for customers purchasing the product or service, or the redirection of the savings into other operational areas, including hiring employees. The results, in whichever form, can actually help the local economy and may lead to more job creation in the area.
Choosing to outsource to other local or national companies means others who are performing the work get to maintain their jobs, supporting the larger economy.
Often, outsourcing is a decision based on more than just the cost savings. At times, choosing to use BPO services allows smaller businesses to access the skills of professionals they couldn’t otherwise hire. For example, a small company may opt to outsource their accounting processes in lieu of hiring an accountant they simply can’t afford and might not need as a full-time member of their staff. This allows them to use the services of a skilled professional at a lower cost, ensuring they get the skills they need at a price that is reasonable based on the existing workload.
The majority of businesses operating in the BPO industry have comprehensive data security programs and adhere to strict compliance standards to ensure their client’s information is safe. A BPO has access to the same quality security solutions as any other business, and many choose to exceed the standards of their clients to stay competitive in the market.
BPOs understand that a security breach can ruin their business, so most aren’t willing to take any unnecessary risks. Instead, they implement solutions that allow them to monitor systems and mitigate security breaches efficiently. Data protection is typically a priority as it helps ensure the longevity of their business.
To ensure your information is secure, you need to partner with a company that is just as concerned with data security as you. The professionals at Validity Solutions understand the value of your data and will always work to exceed your expectations when it comes to BPO products. If you would like more information about the services we can provide your business, contact us to speak with a member of our skilled team today.