What Integrated Business Process Services Can Do for You
Updated: May 23, 2024
New generation of business services achieving extraordinary results
Today's virtual workspace opens the door to accessing valuable domain expertise and proven business processes on a common platform.
Because the digital transformation has created a more powerful virtual workspace, companies have become increasingly borderless. It’s now possible to look at acquiring needed business operations expertise in new and exciting ways.
Business Process Outsourcing (BPO) has been around for a long time. The newest generation of outsourced business services is identified as Business Process Services (BPS). Here is what makes this new category distinctive from traditional BPO:
Service offering is comprehensive, integrated, and delivered virtually
Utilizes industry-standard technology resulting in a stable and reliable platform
Services are customizable and delivered turn-key to fit each customer’s needs
Not many companies offering BPO services have seized this initiative and forged new business models that fully leverage these opportunities. “Integration” is the energizing force behind this new BPS initiative.
What do fully integrated Business Processing Services look like, and what areas does this encompass? The major functional support areas required for strong operations are:
Accounting
Administration
Human Resources
Finance
Technology
Customer Experience
These functional support areas cannot excel without the application and careful integration of the following resources:
People: trained staff with extensive domain experience and knowledge
Processes: proven practices and procedures within each support area
Technology: robust, proven platform for hosting virtual services delivery
Management: oversight within and across all functional support areas
Leadership Integration
However, it is leadership that distinguishes the top tier of Business Process Services (BPS) providers. Truly collaborative business partnerships are enabled when leaders operating at the same level agree on significant objectives, how to achieve them, how to measure results, and how to keep them in sync at each stage of the business lifecycle.
Most BPO firms and many BPS providers are not able to offer this layer of leadership and business acumen in the areas most critical for solid growth, scaling, and operational stabilization. Top-tier BPS providers understand that integrating leadership is essential.
What’s at stake? As early-stage companies find themselves at different points in their business lifecycle, they encounter problems and issues that they often have difficulty solving alone. They must seek out additional resources to assist with their stage-specific challenges:
Standing up their business and operations as they prepare to go to market
Scaling their capacity and capabilities to meet emerging requirements
Stabilizing a piece of the operation requiring an urgent solution
Supporting critical functional areas with reliable shared services
Acquiring the needed resources for any of these can be costly, risky, and difficult to manage. One alternative is to partner with a Business Process Services provider specializing in early-stage companies and offering solutions that provide continuing value through their high-quality people, processes, technology, management, and leadership.
What’s the real upside for the company? Collaborative partnering with a leadership-driven BPS organization can achieve many important business objectives, such as:
Risk mitigation: operational control while drastically reducing business risk
Scaling calibration: precise operational scaling matching current business needs
Growth acceleration: steady company growth at a much faster pace
Capital efficiency: improved use of capital, retaining focus on mission and market
In today’s challenging capital market, it’s wise to explore how to do more with less. Fortunately, new business models leveraging the digital transformation have emerged, making accessing comprehensive business services more affordable and beneficial.
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