Business Process Outsourcing (BPO) isn’t just for multinational companies. In fact, several organizations perceive that BPO is a growing trend among small businesses, especially here in the Philippines. The Philippine Statistics Office reported that as of 2015, there are 896,839 micro, small, and medium business enterprises out of 900,914 business establishments. With the abundance of SMEs, they help boost the country’s economic growth. As such, small businesses have an untapped potential to grow more. SMEs can further improve by using the advantages of BPO for small business. We’ve listed 4 major benefits of how BPO can further help them:
1. It’s cost-effective
One of the common misconceptions about BPO is that it’s believed to be too expensive, which is why only large companies are able to avail them. It is actually one of the most popular cost-efficient solutions. A small business can save money by outsourcing a particular business task, cutting down expenses on payroll costs, and more.
2. No need to worry for specialized tasks
One of the major problems of small businesses is the need to do every task yourself, which in turn can hinder the growth and progress of the business. This is especially true when it comes to specialized tasks, such as IT and Accounting services. Through BPO, you can ensure a professional and high-quality output.
3. Speed and Efficiency
With experts handling specific operations, the business can become as efficient as possible. Businesses can focus on their core business tasks and duties. You can avoid having work overload and overworked employees. Maximize your time and productivity to produce more quality products and services. What’s more, you can also generate more sales! With outsourcing, you can ensure that there is no time wasted and the business can be more productive.
4. Have flexibility and freedom
A small business can achieve a better financial flexibility by outsourcing particular business functions since it can buy a few hours of a day, week, or month from a BPO company that suits the needs of the business. You won’t have to worry about your fund since, as mentioned before, outsourcing is cost-effective. What’s more is that you also have the freedom to choose what tasks you can do by yourself and what tasks you need to outsource. You won’t have to worry about being burdened with too much work!