Click the image below to see an infographic that shows the benefits that your company can get when you decide to outsource your customer service to an experienced solutions provider.

The Benefits of Outsourcing

Author: Jamee C.

The healthcare outsourcing industry has been predicted annually to continue growing or to maintain its current position. The said branch of outsourcing did not disappoint industry spectators and experts as growth for the global healthcare outsourcing business is growing at a pace of 21.4%. The developments in this particular branch of outsourcing are already sufficient to drive companies to outsource their healthcare processes such as medical billing and medical coding to outsourcing solutions providers. The developments available in the industry have always been able to ease the companies’ troubles of handling a tremendous amount of paperwork and data entry tasks, allowing them to focus on their company’s core activities.

The medical billing and coding processes started as tasks that can be done manually and in-house. But with the growing demand for healthcare solutions, companies see outsourcing such tasks as more practical and sensible because it allows them to do more and it has proven to be more efficient. However, outsourcing companies’ developments are not limited to improving their software but they also seek improvement in their service offerings and manpower capabilities.

Few days after the month of January began, medical billing outsourcing firm Dynasty Healthcare announced that it has formed a partnership with Triton Value Partners. The latter was said to advise the former on the expansion of Dynasty Healthcare’s current business, including growth initiatives, developing new strategies and capital formation. The areas being targeted in this partnership is important especially when a particular company is aiming to further expand its reach in terms of the type of client they wish to tap.

Another partnership that has been sealed in the month of January was that one that involves Winchester Radiologists, PC. The said radiology company based in Winchester, Virginia announced that it has selected HealthPro Medical Billing, Inc. to be their partner to assist them in their medical billing processes. It mentions in their press release that to be able to be able to handle the impact of the healthcare reform, they needed a strong and reliable outsourcing partner.

An outsourcing partnership between companies does not necessarily mean that a company is already lacking in budget. In addition to the usual reasons that drive companies to outsource a part of their processes, one of which is to establish efficiency in their operational tasks, it could also mean that they are exploring new ways on how to provide better service to their clients or that they are looking to venture into new areas and they need assistance in doing so.

Author: Jamee C.

The call center industry, both onshore and offshore, have continued to gain popularity despite some efforts to stop offshoring call center work processes, such as customer service and telemarketing, just like what the Anti-Outsourcing Bill is aiming at. Aegis PeopleSupport Inc., the Manila-based operating subsidiary of United States-based Aegis Global, has mentioned that as a response to the forthcoming threat of the said bill, they will take measures to expand their domestic reach wherein they will target local companies in different sector. This goes to show that the call center industry players will continue to work around the arising issue and will build ways to remain at the top.

One of the means for the contact center companies to push for continuous growth is either through developments within the sector or developments brought about by a neighboring sector like IT outsourcing. Recently, a cloud-based communications provider announced that it is now offering hosted solutions to contact centers. Intelliverse, which is an Atlanta, Georgia-based company, mentioned in their statement that they have now integrated three different contact center processes into one solution. This integration will enable contact centers to implement better customer care strategies to improve their efficiency as a contact center. With developments like these in the industry, it can be said that the contact center industry is still very much grounded to providing an exemplary kind of service to their clients.

Another communications solutions provider, New England, Maine-based DSCI Corporation, issued a press release stating that it has released a new solution that will enable call center service providers to enhance their agents’ communication and interaction with their customers. Enhancing their services and work process efficiency is still the number priority for outsourcing companies because it is the main driving force for their industry and probably the second top reason why people outsource to solutions providers – because they can provide better customer service solutions than companies itself – next to the significant amount of money that they can save.

The contact center industry can definitely thrive on its own, especially because almost all of the companies belonging in that branch of outsourcing are capable of providing quality and efficient work processes to their clients. Nevertheless, they still purchase software and products from other companies such as solutions providers mentioned above because they are aware that this will help them create a more streamlined approach in rendering their services. It is safe to say that in the outsourcing industry, companies, despite coming from different degrees of outsourcing, are working hand in hand to be able to provide the market with a solution that would best suit their demands.

Author: Jamee C.

Incoming search terms:

• contact center

The most common finance and accounting outsourcing solution that is being delegated to a solutions provider is payroll outsourcing. Most companies have already enjoyed this benefit and has event attested to the rewards and benefits it has caused them. Lucky for some businesses, they have chosen a solutions provider that has is trusted and preferred by many.

Last January 16, 2012, an announcement by Aditro, a company based in Norway that is a provider of human resource and financial management services, was released stating that Gjensidige Forsikring ASA (PINK:GJNSY), an insurance company based in Norway, has signed an agreement that would last for ten years to administer the payroll processes of Gjensidige. This is a perfect example of a large enterprise that has sought the assistance of a finance and accounting outsourcing company; with a company population of 3,200 employees, Gjensidige Forsikring ASA is most likely to seek outsourcing assistance. According to the press release, Gjensidige Forsikring ASA is looking at a long-term relationship to support their company strategy, which is why they have signed a contract that will span for a period of ten years. Also, the said contract is seen to be at a value of EUR 13 million.

Another accounting outsourcing news that was made public on the same date as Aditro’s announcement is the acquisition of Randstad holding nv’s payroll business that is based in India. NYSE Euronext Amsterdam was acquired by ADP (NASDAQ:ADP), a company that provides both HR and finance and accounting outsourcing solutions such as accounts receivable services, from Randstad’s Indian subsidiary, Ma Foi Randstad but the terms of the acquisition were not disclosed. Just quite like any other acquisition, this recent announcement was performed to give ADP a larger footprint in a region where outsourcing is flourishing; in this case, it is the Human Resources aspect of the Indian BPO market.

There is quite a rich market to tap for the finance and accounting department as every existing company has this particular department. The ball is now in the hands of outsourcing solutions providers when it comes to pitching to these companies the services that they are willing and can offer to them.

Author: Jamee C.

Finance and accounting outsourcing covers all areas within that specific department, including general accounting and bookkeeping and accounts payable services and accounts receivable services. It is suggested in an infographic published in Focus that both billing and accounting aspects are two of the processes that were initially outsourced to offshore solutions providers. When these administrative tasks are done manually, it definitely paints a mental picture of a tedious work process. To lessen the drawbacks of employing old and manual methodologies for the finance and accounting aspect of the business, it is highly suggested for your company to seek the assistance of an expert – a finance and accounting outsourcing solutions provider.

With the number of outsourcing companies that provide finance and accounting services today, potential clients will no longer have a hard time looking for the outsourcing provider that is fit for their businesses. There are existing outsourcing companies that offer boutique services that will be tailor-fit for your company’s processes.

Once you have identified the accounting process that you want to delegate to an offshore team, it is best if you can also identify which business outsourcing model is most suited for your business’ needs.

• Staff Augmentation – This model allows companies to add contractors or temporary staff to a team once in order to meet the demand. In this model, the company may have complete control over their staff members and daily work
• Project-Based Outsourcing – From the name itself, this model is on a per-project basis wherein companies outsource an entire project to a solutions provider as the latter acts as a partner to the client.
• Out-Tasking – A shortage or cost of skills necessary to conduct a task may happen, which is why companies identify the skills – those that can be separated from the general process – and look for an outsourcing partner who can provide them and perform certain functions.
• Managed Services – The business model that usually spans over a long period of time and is driven on a measure of value based on defining the requirements and the performance criteria basis. This is the usual model applied by large enterprises and those companies with multiple clients.
• Build-Operate-Transfer (BOT) – In this model, the solutions provider operates the business over a period of time and then later on transfers the operations to the client.

All business models mentioned above are quite prevalent in the outsourcing industry, however, it seems that preference for both Project-based Outsourcing and Managed Services are increasing.

It is best to identify which among these business models are suited for your company’s needs and operational duties because once you have figured out that your current business model is not working, it is quite challenging to transition from one model to another.

About Infinit-O

Infinit-O is a boutique outsourcing solutionsprovider that caters to both small and medium-sized enterprises (SMEs). Among the services being offered by Infinit-O are general accounting, accounts receivables and accounts payables.

Infinit-O assists their clients in identifying which outsourcing model is best for their business. This has helped their clients in the United States, EMEA and APAC fully maximize their outsourcing partnership.

Author: Jamee C.

Incoming search terms:

• accouts outsourcing model
• Managed services business model
• outsourcing model in accounts
• top outsourcing models

The outsourcing industry’s market has already grown exponentially within the previous decade, now having a large population of solutions providers and quite an impressive amount of clients and business owners looking to outsource a part, if not all, of their processes. One of the industries that we have witnessed become a regular customer of outsourcing services is the public sector whose contracts that are being covers a longer period of time as compared to the other kinds of outsourcing clients.

There is a wide selection of outsourcing companies available in the market who can serve government offices, but quite a number of them still turn to certain outsourcing solutions providers for assistance. CSC (NYSE:CSC) is one of those companies who offer assistance to the public sector in conducting their agency processes, and one of those providers who get approached frequently. Recently, it was announced by Maricom, a company under CSC, that it has been awarded a contract by Centers for Medicare and Medicaid Services. The contract focuses on CSC’s information technology solutions to be able to provide enterprise data services. Maricom has been a partner to this particular United States government office for almost 15 years, which is a great example of an aforementioned reason for being a regular customer of a solutions provider – having built a long-standing relationship with each other.

Another outsourcing company that recently sealed a deal with a government agency is G4S (LON:GFS). The outsourcing contract, which costs around 200 million pounds and will last for ten years, is bound to cover information technology solutions, among others, for the Lincolnshire Police Authority.

Most of the outsourced processes of government agencies are more inclined towards the IT outsourcing side; however another area that is common in public sector outsourcing is back office solutions. Government agencies are looking at the best way possible for them to provide efficient and quality work processes to better service their citizens and they have found that outsourcing actually works for them. The public sector is just one, and it is certain that there are other industries around the globe that also benefits from outsourcing.

Author: Jamee C.

Incoming search terms:

• 100 best outsourcing by govt