Boost Your Competitive Advantage: 3 Ways your BPO can Land More Clients
What makes your BPO business different? Do you promise quick turnarounds? Do you excel at providing a seamless customer experience?
What about your technology?
Businesses are looking to partner with vendors that have a modern technology stack, and it’s quickly becoming a competitive advantage.
In a crowded market, your equipment influences your customers’ decisions, from the capabilities you offer to the security you provide. According to a CGS report, 34.3% of companies say technology platform capabilities are a key factor when choosing a BPO.i
For BPOs who provide data capture and information management services, your capture technology matters. Legacy systems and disparate solutions won’t impress clients and will hold your growth back.
Consolidating your data capture onto one superior ecosystem has the power to attract even more customers to your business—increasing your topline revenue and throughput while lowering costs.
Keep reading to see how to bring in new business with superior data capture.
- Accelerate Turnaround Times
- Capture Data from More Document Types
- Capture Data from More Document Types
Speed is everything to the organizations you serve. They’ve charged you with digitizing their mission-critical data and getting it to their downstream line-of-business (LOB) applications. But their business suffers if they can get this data in a timely manner.
If you can’t deliver a quick turnaround time, you risk losing their business.
And there’s even more incoming data to capture. According to an AIIM survey, a majority of organizations expect incoming information to quadruple over the next two years.ii
A high-speed alternative to your current disparate data solutions will increase your throughput. Not only can you get information to clients faster, you can also expand your capacity to take on more work.
There’s a rising tide of information, and it’s coming in a variety of formats.
AIIM’s survey said that organizations expect 57% of incoming data over the next two years to be unstructured or semi-structured. If you’re only offering data capture for structured documents, you’re missing out on a huge growth opportunity.
Simply scanning letter-sized, structured documents, or only offering remittance scanning isn’t enough to attract and keep BPO customers in the long term. While your pieced-together scanning solutions may have served you in the past, you need more capabilities to be able to capture clients’ data in multiple formats for years to come.
Intelligent capture platforms can extract information from structured, semi-structured or unstructured documents, in a variety of formats. Go from only scanning forms and remittance slips to collecting information from transcripts, emails, contracts, coupons, checks and more.
Offering full-service information capture to your clients will provide more value and help you attract bigger jobs.
Security is of paramount importance to your clients—and should be for your business, too. When they entrust you with their information (and often that of their customers too), they need assurance that they’re receiving the best data protection possible.
Your legacy systems can’t currently promise that.
Disparate legacy capture solutions put pressure on your team to safeguard client data. Between multiple scanner types and software, there many entry points for data thieves to take advantage of. Your IT team has to monitor each of these vulnerabilities and ensure the software is up to date at all times.
And if your legacy systems have become obsolete and are past the point of service, they’re extremely vulnerable to attack.
More and more, businesses are making security a priority for vendors. Data privacy and security compliance is top-of-mind for business leaders when searching for a BPO. In fact, 48.6% of leaders say it’s a key deciding factor, according to CGS.
Assuring clients that your security is enterprise-grade and always up to date can be what tips the scale in your BPO’s favor. A singular capture platform helps ensure security and compliance, and makes it easier for your IT team to manage.
See New Business Flooding in with a Modern Data Capture Ecosystem
A superior data capture solution doesn’t just simplify your backend processes. Providing modernized technology helps you expand your business offerings and attract more clients and larger projects.
Expand your business when you put speed and intelligence to work for you:
- ibml Fusion: Ultra-high-volume scanners built to extract and accelerate data at unprecedented speeds
- ibml Cloud Capture: Software to expand data capture capabilities and optimize data extraction
Sources:
i CGS. (2021). Trends 2021: The Impact of COVID-19 on Outsourcing Decisions and Customer Service Investments.
ii AIIM. (2020). State of the IIM Industry 2020.