Typically, cost optimisation, profitability, scale and innovation have been the pillars of success for BPO. Today, success also requires holistic compliance through a holistic enterprise-wide compliance framework. What else is new on the agenda for BPO?
CX remains key
Clients are the lifeblood of our organisation and we’re continuously improving the way we serve them. As a leading BPO organisation, we serve different kinds of clients and stakeholders. It is key to define who the customers of our clients are, what they want, and how you can best serve them. As customers tend to use multiple devices, an omnichannel experience will lead to heightened customer satisfaction. Customer experience must therefore be built into the BPO model – in fact, it must be a leading element.
AI-powered voice response
With omnichannel experience becoming mainstream, enterprises will be pushed to acquire AI-powered voice response. Since omnichannel experience is about offering a similar experience on every platform, businesses will have to harvest voice responses better. With artificial intelligence, BPOs can easily transcript calls and maintain records of conversations. AI will make it easier for BPOs to analyse the data and curate an omnichannel experience.
With CX becoming a competitive advantage, the omnichannel experience has moved centre-stage and enterprises will be stimulated to use AI-powered voice response. Chatbots can help trace customer issues and answer their questions. Voice authentication and voice recognition work on machine learning and algorithms – all this will help BPOs in achieving higher customer satisfaction levels.
With the emergence of new types of BPO clients, tailored outsourcing has become popular. Depending on geography and market situations, incumbents may rely on step-by-step system integration, whereas challengers may require a fully direct digital approach – free from legacy systems. At Stater, we’re able to serve all kinds of clients and provide a tailor-made service delivery.
Increasingly, more businesses will rely on the availability of data. Growing data reservoirs need to be carefully analysed, processed, and interpreted – compliant with regulatory standards in the area of data privacy, security of (personal) data, process control, and risk management. Results from data analytics provide insights into the customer's preferences and needs, and will lead to a better customer experience, boost sales, and increase customer loyalty.
Keeping pace with technology is challenging. Employers in technology-driven organisations therefore need to upskill their employees on a constant basis. In fact, this has become a business imperative. Upskilling employees will improve retention, boost morale, attract new talent, and increase customer satisfaction. Our Stater ‘Fit for the future’ programme was designed to empower employees to develop their skills and take charge of their career paths.
The cloud will revolutionise the way BPO service providers extend their offerings. By leveraging cloud technology, clients can benefit from cost reduction in terms of infrastructure and workforce, leave legacy problems behind, and reduce their carbon footprint.
Data strategy and transition
Creating a clear data strategy, combined with new data initiatives, will pave the way for future innovation. What’s next for the financial institution in the digital journey? How do FIs cope with legislation, regulatory, and supervisory requirements? Can the FI become agile enough, fast enough? As believers in true business partnerships, we can help guide the discussion and team up to support digital transformation.
BPO is about partnerships
We believe that once a BPO partnership is made, both sides must be completely committed to improving that relationship. At the end of the day, BPO is all about helping customers in the best possible way through purposeful interactions based on data insights. At the same time, technology cannot replace the human touch – they need to work hand-in-hand.