The critical success factor for all businesses is to focus on customer service and sales. Far too often, businesses are forced to divert attention to operational issues rather than to customers. Business Process Outsourcing provides an option for reduced costs and, most importantly, the refocusing of attention to the customer. Significant cost savings are likely for functions that are non-customer facing, while customer facing transactions can also be outsourced for consistent and effective delivery. To create a focus on customer service and sales and to realise significant cost reduction simultaneously, BPO has proven to be an effective strategy.
Radium Communications has worked with leading Business Process Outsourcing firms and their clients to streamline processes and improve service. Having been involved on both sides of the BPO relationship (provider and customer), Radium Communications is highly effective in recognising opportunities for both.
Radium Communications has helped its Clients to outsource many functions, Including:
- Accounts Payable
- Salary Processing
- Document Handling
- Call-Centre activities
- Payments Processing
- Item Processing
- Document Retention
Recognising Outsource Opportunities
While BPO is an effective strategy for many, it is not a universal solution for all. Depending upon the product or service offering, certain functions may be considered mission-critical to some and not to others. In order to assess opportunities for outsourcing, The Radium Communications Program Includes:
- Analysis of in-house vs. outsource option
- Requirements Definition for solicitation of outsource bids
- Definition of decision criteria for choosing vendors
- Analysis of bids
- Situational analysis of current costs and service levels
- Identification of in-house process and service improvements
Improving Cost and Service of BPO Businesses
The Radium Communications Productivity and Service Improvement (PSI) methodology is optimally suited for BPO businesses. Detailed process analysis and improvements result in service improvements critical to maintaining competitiveness in the industry.
Major Transaction Processing Company Bank, Retail, Government, Transaction Processor and Outsource Contact Centre Processor.
The new management team of a transaction processing company engaged Radium Communications Group to evaluate the entire operating base of the company, including technology, sales and marketing, operations, organisation structure and location strategy.
- Restructure the company with Client facing front-ends and shared service centres for all back office processes.
- Consolidate, reorganise, and off-shore low end processing functions and centralize on-shore functions.
- Plan and execute the migration of development activities to an off-shore centre of excellence.
- Re-engineer all technology support and operations functions.
- Rationalise and consolidate off-shore Contact Centres and employ global best practices.
- Re-engineer the entire global telecommunications network and topology, focusing on communications between the US, Canada, India and the UK.
- Refocus sales and marketing departments and implement contact and pipeline tracking systems.
- Contact Centre Business cost base was reduced to allow for aggressive marketplace actions and business expansion.
- Reorganisation and establishment of consistent business processes resulting in dramatically improved efficiency of process operations.
- Revitalised telecommunications network with significant new flexibility and reliability with a substantially decreased cost.
- Dramatic improvement in Finance and reporting operations and elimination of SEC and SOX related issues.
- Sale price of business line significantly enhanced due to cost reduction in expense base.
The entire business was redesigned, including a realignment of the company to improve market penetration, resulting in dramatically improved financial performance. Direct expenses reduced over £10 million and stock price improved over 300%.
Productivity and Service Improvement of Back Office Operations of a Large Regional Bank
A complete review of the back-office operations for a UK Regional bank resulted in the outsourcing of multiple functions. Radium Communications recognised and quantified significant opportunity for outsourcing functions in order to reduce cost and improve service. An analysis was conducted to determine the potential for in-house enhancements and to calculate the full costs. Functions were outsourced to three separate vendors and included:
- Document Archiving and Warehousing
- Supplies Procurement
- Statement Rendition
- Mail and Distribution
The resulting cost savings allowed for a ten-month payback of all consulting fees.