Enterprises across the globe are leveraging the power of call centers to timely, accurately, and effectively gain business insights in order to proficiently respond to the current environment. Organizations, in order to effectively respond to the changing customer demands, are increasingly developing business intelligence as well as analytical capabilities to gain competitive advantage over their counterparts.
A research conducted by Gartner illustrates that approximately 5% of the increase in customer retention can improve a company’s profitability by 25% - 125%. This is one of the major factors, which is driving enterprises of all shapes and sizes to view business process outsourcing as a critical business model.
Let’s dig deeper to understand the correlation between outsourcing and customer retention rate
The voyage of business process outsourcing from being a simple provider of outsourcing solution to a widely trusted service partner is marked by a sequence of innovations & value enhancements. Besides meeting service level agreements, vendors are taking a step ahead by setting KPIs for business process automation and management. These help clients to move-up the value chain while delivering positive business outcomes.
The shift from outsourcing center to a high-end knowledge center is significantly added great value to the businesses. This includes:
High Customer Data Security: By tapping on the potential of call centers in India, companies can ensure high security of their critical customer information. This is because service providers need to strictly adhere to the data protection norms, which requires them to wipe all the information saved on the local desktops/notebooks, encrypting sensitive files, and installing cameras/ flash drives to ensure complete protection of the client’s information.
Enhanced Business Continuity Plans: The mobility of information to a hi-tech contact center infrastructure allows businesses to ensure information security in a highly secured environment while giving the flexibility to add fast response times to business fluctuations, which mean BPO units can continue service delivery from alternative locations at a minimum risk of information loss.
Better Productivity: Many companies are leveraging BPO solutions to improve the productivity of their employees. Third party service providers streamline the non-core operations of their clients so they can focus their resources in core business functions.
Hence, by effectively applying data and customer analytics to the client’s services can significantly improve the front line performance of an organization while improving its sales and revenues.