From BPO to BFO: The Shape of Things to Come

What are the key attributes of a 21st Century Enterprise? And what will an enterprise of the future expect from its partners? As global enterprises become powerful brands, their key challenges will be demand generation, superior growth and financial performance, margins, cash flows and sustainability. Increasingly such enterprises will need to identify and focus on a set of critical core processes and rely on trusted partners to run and manage other core and non-core processes.

BPO services have matured from being a commoditized service offering labor arbitrage and process standardization to operational excellence enabled by Lean, Six Sigma and domain knowledge. Year-on-year efficiency gains and excellent customer service at the cheapest cost is the new normal.

Businesses are hungry to meet their goals and want more from the outsourcing partner. They want partners who can focus on outcomes such as reduced DSO, Maximizing Rebates, Managing Cash Flow, Better Inventory Management, Improve Up and Cross Selling etc.

Traditionally, the CRM or Customer Service portion of the BPO work has been seen as being either “contact centre” where the outsourcing partner sets up a call centre facility for you or back office where non voice transactions are delivered. If one wants to look at business outcomes, the thinking has to change. It is important that one starts looking from a perspective where the outsourcing partner envisions itself not as a “call centre” but as being the customer’s Front Office. Similar change in perspective needs to come in the “Back Office” and another important yet unexplored area - the Middle Office.

With this change in mindset, the focus can shift from simple benefits like cost takeout or better accuracy or faster turnaround. The customer and the outsourcing partner can start looking at defining and achieving functional goals rather than getting bogged down with measuring metrics limited by a process silo.

Mature BPO partners such as Wipro have the ability to achieve business goals by accelerating the transformational journey of enterprises through service offerings that address the Back, Middle and Front Office. It is time now to stop thinking about process outsourcing and looking for partners who can help you achieve your functional goals.

To read the entire article please go to: http://www.outsourcing-center.com/2011-03-thought-spot-moving-from-bpo-to-bfo-article-43256.html

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Ashutosh Vaidya

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