What Do BPO Companies Do?
BPOs or Business Processing Outsourcing companies are companies that take on contracted work for particular outsourced tasks. This covers accounting, banking and finance, customer service, telemarketing, transcription, healthcare services, social media marketing, e-commerce and SEO solutions, help desk support, payroll and tech support.
Outsourcing is done by international and local clients in order to cut costs in their operations, be more efficient at their business and to get an expert outlook on their enterprise. By utilizing BPOs, they can minimize their resources because more often than not, BPO services are cheaper than having work done in their own company.
Another reason why clients get BPOs to perform work for them is that BPOs are normally already experts in their fields. Training costs a lot of money. Also training people would mean time is wasted and an allocation of several weeks and months is needed to get people to be at par with the industry standards. BPOs on the other hand have the staffing and human capital with the adequate skills companies need.
What Is A BPO
A BPO is practically a company who does tasks for other companies through outsourcing. They are built towards the goal of using human capital to it’s full potential. They offer real solutions to various companies and industries’ business needs. Aside from solutions, they offer support and output.
So instead of the company needing to deal with different people, they just deal with one company and just wait for the results that the BPO promised.
BPOs handle many office solutions. From IT to healthcare, BPOs can handle such. They can handle B2B or business to business solutions or B2C or business to customer type of services. This means that they can handle inter business work or direct customer assistance.
Lines of Business of BPOs
Here are the different types of services that BPOs handle.
1. Accounting,
Accounting or the management of books and journals is one of the solutions that BPOs provide. They hire accountants and accounting professionals to handle the taxes and finances of companies. Their clients can be individuals or people.
On the accounting specialist’s side, it can be purely office work work without any calls. On the other hand, some centers require help desk support to clients.
2. Banking and Finance
Financial accounts are one of the most widespread service that BPO companies offer in the Philippines. Credit card support, loans assistance, fraud handling services, billing, telemarketing and anything related to the work of banking institutions can be serviced by call centers.
Supporting credit card calls is one of the common jobs of call center agents in our country. Most people in Western countries own and use credit cards to purchase goods and services and thus there is a big need to assist these customers. To minimize costs and maximize profits banks and financial institutions outsource their help desk services to us.
3. Customer Service
Customer service is the largest type of support that call centers and BPOs provide. This BPO line of business is B2C which means agents handle customers directly. Customer care calls are normally post sales calls asking for help on an issue or a problem with their gadgets, cards, billing statements, phone, reservations and so much more.
Call centers here serve as the human arm in the problem resolution process of companies. Some companies may use an AI, but most people still choose real people to help them because they need that human touch.
4. Data Recording
Data recording or transcription is a service that has been around since BPOs started in the 90s. Transcription and encoding services help individuals and companies alike to record and transfer data that may not be easily readable to computers. This involves encoding written data to typeface letters or transferring data from one file to another.
5. E-commerce solutions
E-commerce solutions such as handling online stores, writing content for websites, optimizing pages for SEO and the like provide many small and large businesses ease and profit.
Many foreign businesses are now transitioning to doing business online and they need people to handle their accounts and manage their websites. However, building websites can be difficult and taxing. Putting up content and products online need expertise in the online marketplace and Google’s analytics.
Typically hiring personnel from their own countries can be expensive and many small businesses do not have that capital and thus outsourcing these services would be the most cost effective solution.
6. Social Media Marketing
Social media is now the new public space for promotion, marketing and entertainment. Millenials and Gen Z individuals no longer consume media on TV and radio, they typically do so on their phones. Because of this, businesses need to propel their brand online. This means that they need social media experts to dominate Facebook, Twitter, YouTube, Tiktok and many other platforms.
Soc med experts can be either outsourced through BPO companies or via freelancing sites like UpWork or Fiverr. Their taskis to create social media content and help the businesses to rank on SNS platforms.
7. Technical Support
Post sales support is an important marketing value that most companies need. In the case of those who manufacture gadgets and appliances, providing after sales support both in customer service and tech support is a must.
But technical support agents who reside in their own countries require higher pay and thus outsourcing is the route most companies go with. By outsourcing tech support, businesses can provide value to their customers and expect repeat sales through brand loyalty.
8. Help Desk Assistance
Some companies can be very large that they may need their own help desk support. This help desk can help their own people and clients internally. The help desk can deal with software support, HR and payroll, tech support and so much more.
A help desk support staff normally uses the company’s database to answer the frequently asked questions of his coworkers in the company. He can also create tickets and provide solutions and fixes
9. Payroll and HR Solutions
Many offshore clients need assistance from recruitment to HR to payroll. This is similar to the help desk support work mentioned above.
Here, a help desk staff assists the company’s human resources needs.. They can take in complaints and create tickets. They can also deal with hiring needs such as interviewing applicants. They can administer tests and provide feed back to the client.
On the other hand they can also the computation of payroll roll outs as well as deal with employee documentation.
10. Health care support
BPOs Provides Jobs
BPOs are known to be economic drivers and job providers in our country. Currently there are about 1.4 million Filipinos employed in the BPO sector. They have also helped establish businesses around their call centers and created other jobs.
BPOs have given equal opportunities to those who are unable to find good jobs here in our country because they were not able to finish college. Call centers have also helped countless families have enough financial provision due the employment they provide.
Without call centers in our country, many individuals would be unemployed. During the pandemic, 23,000 people got hired in call centers despite the sky high unemployment levels.
Helps The Economy
Outsourcing companies and BPOs have pushed the Philippine economy greatly. BPOs have helped our country to gain millions of dollars in income. Aside from jobs and businesses, BPOs help many parts of the society. This line of business has boosted small and even micro business such as vendors near call centers.
Call centers have helped transportation services to gain more income because employees of the BPO need to shuttle themselves from their homes to their offices. Coffee shops and restaurants near call centers have also flourished because of the number of agents who dine in their establishments.
Basically BPOs fuel the economy because of the movement of money and people who are part of the call center industry.
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