Posts about BPO topics

banner what are the biggest challenges for fintechs
Veronica Mascareno

What are the biggest challenges for the Fintech Industry?

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Considered one of the most innovative & demanded industries internationally, the fintech industry has offered modern financial solutions through technology and digital tools for the last decade.  

Understood as a combination of the terms “financial” and “technology,” refers to businesses that use technology to enhance or automate financial services and processes. 

With a value of USD 112.5 Billion in the year 2021, is expected to grow around USD 332.5 Billion by the year 2028, following a Compound Annual Growth Rate (CAGR) of 19.8% over the forecast period, according to data presented by Vantage Market Research. 

Finding venture capital & the right investors.  

Although this is certainly a process more related to the startup phase of a fintech, due to its natural vision to grow and go worldwide, fintech’s usually rely heavily on considerable capital and investors.  

But this could become a challenge if the business doesn’t have a clear list of objectives or goal alignment between the investors.  

That is why it is so important to have a clear purpose and determine the list of factors venture investors are going to consider for the project.  

Whether you are in the development phase or even full-on operations, epam anywhere shares the following questions you must follow:  

  • What are the problems solved by the product? 
  •  Where are the potential risks to the business? 
  •  How big is the market opportunity?  
  • What makes the founders think the product will be successful?  
  • How will the investment capital be used to achieve the product’s goals 
Photo by RODNAE Productions

Competition in the fintech industry.  

Yeah, there are a lot of fintech’s offering great financial services, and a lot of them are already huge, but hey, they are not the same.  

Feeling confident about your product or service will be of great significance to know your value proposal once you determine to go B2B or B2C.  

Once you have that confidence and full knowledge of what your product offers, you will detect the business opportunities and the problems it could fix.  

Besides, there are a lot of areas fintech can attend from insurance, digital wallets, investments and more. The opportunities? A lot.  

Industry regulation.  

A very important subject that is constantly discussed, especially lately among experts and public figures.  

Finance, being one of the most regulated sectors, naturally, because of the very sensitive data and transactions it holds, raises a lot of standards and processes to secure safety and good practices.  

But in the fintech industry, many questions have been made about its safety and even legality, criticizing some practices as not very different from casinos.   

Although we could make another article explaining more in depth the whole processes involving regulation, for the moment, we are just going to point out fintech’s need to stay in touch, more than ever, about all the necessary policies and relevant information to share with the user.  

This could be in a specific section in the webpage or app, talking about general concerns and even financial education, in the format you prefer. Whether video, blog or even a certificate!  

Users also consult this type of information in different omnichannel media, like phone service, live chat or email.

Something achievable by specialized nearshore services providers.  

Data security.  

As mentioned, users appreciate some privacy in their finances.   

Securing that their money or transactions are safely secure from bad practices is imperative.  

Why? Cybersecurity company appsealing shares that the most preferred methods like one-time passwords, fingerprint, codes, although effective, are not invulnerable to cyberattacks.  

Recommendations to attend this area go from establishing an internal IT department, capable of processing and comply with the required cybersecurity certificates and constant supervision for compliance.  

Photo by Pixabay

User experience. 

For many years, we were subjected to not so cool customer attention from traditional financial institutions. Well, fintech’s could be credited with enhancing CX through real care and attention.  

Therefore, consumers have higher standards on how to receive attention and resolve a problem, and with that comes more demand within the different attention channels available for clients.  

The business may be going well, but you are receiving a lot of customer inquiries. Well, that is the moment to determine not only how you can obtain new clients, but also retain and ensure loyalty.   

But with all the rising costs and economic uncertainty, having alternatives to take care of your CX operations can be possible through a nearshore call center, lowering costs and securing efficient market reach and attention. 

Conclusion.  

We are in an exciting time where technology has brought us amazing tools and possibilities to improve or even satisfy our financial needs.   

FinTech’s will continue growing at a fantastic rate, which will also bring benefits for both the consumer and the company, but these challenges must be considered to thrive and adapt.   

Thank you for reading our blog; if you want to learn more, click here.   

Ready to delegate your operations and talk with the experts? Delighted to meet you.   

banner top countries with bpo growth for 2023
Veronica Mascareno

Top Cities With BPO Growth For 2023

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Since exploring the economic context of countries and markets is a fundamental part of our day-to-day, we couldn’t resist looking up what is ahead for the Business Process Outsourcing industry for 2023.  

What are the top places aiming to invest in and generate more opportunities for companies and their people? 

 
South Africa 

If you have been reading our latest blogs, you know South Africa has been a topic of discussion, becoming a preferred destination for BPOs searching for lower costs and stronger infrastructure.  

Its growing and competitive economy has created a positive environment for BPOs, especially given the country’s strategic location in the African continent.  

The country has a strong and well-developed communication infrastructure, competitively priced and skilled labour, and a stable and business-friendly government promoting specific industry agreements. 

 As BPOs continue to focus on increasing their overall profitability, they are also seeking more flexible and cost-effective solutions. 

Photo by Taryn Elliott

 
Poland 

Poland is a rising star in the BPO industry, and with good reason. With highly skilled labour, a strong and growing economy, and an efficient transportation infrastructure, this country is poised to become a serious contender in the BPO sector.  

There is a growing demand for BPO in the region, with a focus on customer care, software development and accounting.  

With a cost of labour that is 30 percent lower than the average for Western Europe and a strong cultural affinity with the U.S. and other Western countries, Poland offers a compelling business case for BPO. 

What is also interesting is the growth, expected to reach US$1.92bn in 2022. 

Photo by Mat Kedzia

 
Brazil 

Brazil is a big country that has a lot of room for improvement in the BPO sector.  

Its economy has been growing faster than many other countries in the region and has recently been growing at a faster pace. 

However, there is still a lot of room for growth in the BPO industry. The growing demand for outsourcing services in Brazil is attracting BPOs from countries like India and the Philippines.  

The country’s large population, growing middle class, and high internet penetration rate make it an attractive market for BPO. 

Highlighting data presented by the ShowWise consultancy, which highlights important points that have benefited the attractiveness of the country such as:   

  • Good business practices   
  • Constant growth in the Latin American region  

Specifically, its development and innovation aspect, for the strengthening of physical and digital infrastructure, declaring that for the closure of the year 2021, Brazil had over 35 company accelerators and over 90 manufacturing parks.  

Its Science and Technology Parks (STPs) have been promoting innovation and research while also supporting societal and financial development. 

Mexico 

Of course, we couldn’t skip our home! 

Mexico has been growing in its significance as an outsourcing destination for a while. The country has strong ties with the United States, and its membership in NAFTA (North American Free Trade Agreement) makes it even more attractive. 

Although there have been some controversies in the past months, negotiations have been established for the development of resolutions and has largely involved the energy sector.  

 The country has the largest English-speaking population in the Spanish-speaking world and a highly educated labour force.  

BPO in Mexico has been growing steadily, with more and more companies looking to outsource their customer care and IT services to Mexico. 

 
Malaysia 

Malasia, with its strategic geographical location, growing economy, and cost-effective labour, has become an attractive destination for BPOs.  

Intenational companies have been investing in this sector, as they see a huge potential for growth in the Southeast Asian region. Malasia has developed its own BPO sector, which is now worth about USD 2.5 billion.  

The country has a well-developed infrastructure, and its proximity to India gives it a competitive edge for BPOs. 

Photo by Zukiman Mohamad

 
Final Thoughts 

We hope that this article has provided you with an overview of what the future holds for the BPO industry.  

As you can see, there are many exciting and promising trends that can help BPOs find new and innovative ways to solve business challenges and provide valuable services. 

With the right strategies and technologies, BPOs can position themselves to capture the benefits of these trends and create a more engaging customer experience. 

banner 5 costumer service trends to keep an eye for
Veronica Mascareno

5 customer service trends to keep an eye for

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A new year is arriving and it comes with new possibilities and, of course, customer service trends that we need to stay in touch with.  

As one of our main objectives is to enhance our client’s CX, we investigated 5 interesting customer trends that will be game changers for every business.  

Virtual & voice assistants 

We’ve already explored this topic through omnichannel, so we know this is a major trend for this year.  

And with multiple products set to be released, voice assistants are likely to become even more popular.  

Great customer service is all about being accessible, helpful, and responsive. If you’ve ever tried to call a company during business hours only to be on hold for 30 minutes before giving up, then you know how frustrating this can be. 

With virtual assistants, companies can be more accessible. This can be especially helpful during high-volume times or when you’re in a pinch and need help in a hurry. 

Especially considering that companies have already invested in virtual assistants, being pretty functional and effective in resolving quick inconveniences.  

Photo by John Tekeridis

Artificial intelligence 

The world of customer service just got a lot more interesting thanks to AI. We’ve already seen some of how this technology has enhanced the customer service experience, but 2023 is likely to bring even more exciting developments.  

From predicting which customers are most likely to acquire to offer personalized recommendations, AI can help us to provide a much better experience for all our customers.  

What’s more, AI is already helping brands to automate certain customer service processes.  

And this is likely to become increasingly common in the coming year as more businesses begin to adopt this technology.  

If you’re looking to take your customer service to the next level, then AI is certainly worth exploring. 

Video content is key 

We already know that visual content is a powerful tool for engaging customers and encouraging them to buy.  

But what might come as a surprise is that it is also an extremely effective way to deliver great customer service. 

 Video is an extremely convenient way to provide customer service. Whether it’s through an FAQ page, a video tutorial, or even a live video chat, companies can make it easier than ever before to get the help or information they need.  

Moreover, the rise of social media has made video content even more important. It’s estimated that video will account for 80% of all internet traffic by next year.  

This means that video content is set to play a much bigger role in our daily lives than it already does. 

As such, it makes sense for brands to embrace this trend and make video content as central to their customer service as possible. 

Indoor positioning and beacons 

Most of us are likely to be aware of the rising popularity of beacons. But what many people might not realize is that this technology is set to expand in 2023 and beyond. 

In addition to being used in retail stores and public places, beacons are now used in other business areas, including customer service.  

For example, this technology can be used in call centers to provide employees with information about the customer they’re currently serving.  

This can help agents deliver a more personalized and seamless experience for customers.  

Another way in which beacons can be used in customer service is for indoor positioning purposes.  

By installing beacons at different locations throughout the building, companies can create a map showing where every representative is.  

This can be extremely helpful when customers need to speak with someone in person. Rather than waiting for someone to come to them, they can simply check their phone’s map for the nearest representative. 

Optimized delivery 

As more and more customers begin to shop online, delivery services are becoming increasingly important.  

But with so many different delivery services available, it can sometimes be difficult to know which one to pick. To make things easier for customers, many businesses now offer delivery “reports” or “scores”.  

This information can help customers make an informed decision and find the right service for them. 

 But just having this information available isn’t enough. Companies must ensure that it’s presented in a way that allows customers to understand it easily.  

And this is where customer service comes into play. Representatives need to explain the report or score in a way that’s easy to understand.  

They also need to be transparent about how the report was calculated and how the company works. 

Final thoughts 

When it comes to customer service, the possibilities are endless. What we’ve discussed here is just the tip of the iceberg, and these are only some of the trends we expect to see in the coming year.  

Undoubtedly, customer service will continue to evolve and improve as we move into 2023. 

And as customer service specialists, it is up to us to keep an eye on these trends to stay ahead of the game and provide the best experience possible for all our clients. 

Thanks for reading our blog; you can see more articles right here! 

If you would like to know how we can help you apply these trends, talk to us! 

banner is it important to deviler great cx for the gaming industry
Veronica Mascareno

Is it important to deliver great CX for the gaming industry?

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For the past few decades, the gaming market has been growing at an exponential rate. Already with a worth of US$197.00bn in 2022.  

This trend is expected to continue, and analysts predict that it will become an industry worth $ US$285.00bn by 2027. 

 The popularity of constant & endless games can partly be attributed to their immersive and engaging user experience.  

As such, a lot of effort goes into creating a seamless user experience for gamers – not only when they first use your product but also throughout their entire journey as customers. 

The importance of customer experience in the gaming industry 

Customer experience is more important than ever in the gaming industry. 

Gaming companies are under pressure to deliver great customer experience, and it’s a competitive advantage. With so many gaming companies competing for players and their time, you need to give them compelling reasons to choose you over your competitors. 

Especially considering that new releases can cost up to $120 US dlls, gamers demand a seamless experience, not only on the game itself, but customer service & tech support.  

Whether we are installing the game or playing it, we can encounter a diverse number of factors that can affect the user experience and immediately require a special follow up.  

These products are made to offer some sort of escape & entertainment, and at the same time, an added value, so when customers experience a glitch or a failed purchase, it’s more than fair to expect an excellent CX to ensure loyalty and retention.  

If you want your customers to stick around, then delivering an exceptional customer experience is key. 

The gaming market is bigger than ever 

  • Gaming is bigger than ever. 
  • The gaming market is growing at a fast pace. 
  • The reason for this growth? Innovation & demand.  
Photo by JESHOOTS.com

Customer experience – a growing trend 

Customer experience is a growing trend in the gaming industry. In fact, it’s becoming so popular that it’s almost impossible to find any players who don’t care about the way they’re treated by developers and publishers.  

You see, CX is important because it helps build brand loyalty. When people feel like they’re being looked after properly, they tend to keep playing your games instead of switching to another developer or publisher with better service—and that means more sales for you! 

But why do videogames keep growing each year? What is the secret?  

Well, to answer that, the consulting firm Bain & Company shared important points to consider on this modern phenomenon:  

  • Growth in consumer demand through streaming content, events and attractive properties 
  • Technology advancement  
  • Monetization models taking off  

On top of that, great customer experience can actually be measured and improved upon; which means once you’ve set up your system for delivering an awesome CX strategy across all parts of your business (like contact centers), there are plenty of ways to keep track of its success. 

Are you doubting how to set up your CX strategy or maybe enhance it? That is how the business outsourcing industry helps, especially nowadays, though nearshore solutions to secure a language bridge between great service and your customers.  

Listen to your players; they are your most valuable source of information. 

You want all the special data that is going to give you the key to keep offering great experiences? Ask and listen to the people who consume them.  

Your players are going to tell you what they like and don’t like about your game, what they want from it, and what they want from your company.  

Listen carefully and take their suggestions seriously because these will be invaluable to creating a better gaming experience for everyone. 

And be prepared to expect everything and anything.  

Image by DCStudio on Freepik

Final Thoughts:  

The gaming industry is a growing market, and customer experience is a crucial part of that growth.  

By listening to your players, you can make sure you’re delivering the best possible experience for everyone involved.  

Thank you for joining us on this blog, if you would like to learn more, you can click here.

Are you ready to enhance your gamers experience? Talk to us, we want to know you.

banner how is data mining & analysis helping the healthcare industry
Veronica Mascareno

How is data mining and analysis helping the healthcare industry? 

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Let’s start by saying that data mining is a technique through which useful information and knowledge can be obtained from a large amount of data.  

It helps obtain valuable insights into your business, customers, or other areas by analyzing structured and unstructured sources of information. 

This method, applied in the healthcare industry, can give accurate patient records that enable the physician to make effective decisions at the right time.  

This technique is of great value in the healthcare industry as it can potentially predict and prevent serious diseases in patients.  

Sounds cool, right?

In addition, it can bring huge savings for both doctor and patient. Information obtained from data mining also helps the doctor to provide better treatment for a specific disease. 

 For example, data about a specific disease or condition can be used for developing a treatment strategy. Especially if followed by previous cases.  

Using this type of technique, new research fields could be discovered in healthcare, relying on the knowledge extracted from an extensive database.  

Experts considering this an effective method for effective decisions.  

Important for disease prevention:  

As previously mentioned, one of the essential features that data mining offers doctors is its ability to predict or forecast which patients are at a higher risk of getting severe diseases such as heart attacks or strokes. 

 Suppose a doctor knows which patients are at risk of getting severe diseases.  

In that case, they can provide better treatment decisions like recommending preventive surgeries or prescribing medicines before any symptoms appear so that they don’t develop into severe conditions later on.  

Data mining also helps doctors find new research fields where their findings may likely benefit other medical professionals working on similar projects worldwide too! 

The development of different strategies is also a possibility, through data refinement to share information.  

Information obtained from data mining also helps doctors provide better treatment for a specific disease. For example, data about a specific disease or condition can be used for developing a treatment strategy. 

Discovery through large databases  

Additionally, they have identified genetic markers associated with certain rare diseases through their analysis of various DNA samples taken from individuals suffering from similar ailments. 

 These types of findings could not be discovered without using these techniques because there would be too much information for anyone (or team) alone! 

So, healthcare companies need to realize how vital it is to structure and hire the right number of professionals to obtain not only the data, but also ensure a great CX for a sensitive matter.  

Bringing diverse solutions to patients:  

Data mining and analysis is an important tool that can help doctors make better decisions.  

This technique has been quite beneficial in different businesses to analyze databases and get an insight of customer behavior towards products and services offered by specific businesses, establishing better relationships with them. 

 It has enormous potential to help healthcare providers by providing a more affordable solution for patients through innovative approaches such as treatment methods and drugs. 

Data mining can also be used to monitor the progress and improvement of a patient’s health status after undergoing treatment, which will enable doctors to identify any abnormalities that may interfere with their recovery process.  

All possible with the right follow up to attend every case and individual.  

Image by DCStudio on Freepik

Special insights

In addition, data mining helps healthcare organizations to gain some insights into their patients’ behaviors so they can improve them or modify their services accordingly. 

 For example, suppose a doctor notice many people complaining about specific symptoms after taking a particular drug from his clinic.  

In that case, he should investigate whether there is anything wrong with it or not rather than ignoring these complaints simply because most of them do not have any serious impact on health condition. 

 If several people who use this drug face similar problems, then there might be something wrong with the medication itself, so it should be recalled immediately before causing further damage to human life. 

Nowadays, data mining techniques are getting popular among most medical institutes to solve complex issues associated with patient care management systems (PCMS).  

Implementing PCMS greatly helps doctors in the treatment process by making the correct diagnosis at the right time, reducing the risk factor related to any health condition. 

In addition, it can also help identify various factors that can affect an individual’s health condition.  

For example, if a patient has some allergies, they should regularly check for pollen count in their location and try not to go outside during these periods. Just like my case a few months ago.  

The same applies to other weather conditions, such as rain, etc., which may adversely impact their health due to certain bacteria present in soil or water bodies. 

Henceforth, it is very important for everyone who wants better living standards to rely on data mining techniques instead of blindly following conventional methods used by many physicians nowadays, like prescribing medicines without knowing whether they are suitable for them! 

Final Thoughts:  

This is how data mining helps the healthcare industry. This method extracts useful information from large amounts of data and apply it to improve the patient care management system, ultimately benefiting both doctor and patient. 

Hope you find our blog interesting, if you wish to read more, you can click here.  

Are you ready to follow up your clients and give them great CX? We would love to hear from you.  

banner BPO & Nearshore indutry in times of global financial concern
Veronica Mascareno

A look into the BPO & nearshore industry in times of global financial concern 

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I’ve searched studies for various analysis and predictions regarding local and international events, what we are going through and how it has affected our reality. 

Of all that is mentioned, I can agree that the economic area is the most affected, both for individuals and entities. 

The recent changes and behavior of the markets have represented a vulnerability, especially for companies seeking to develop alternatives, safeguarding the possibility of assuming even more risk. 

But even though we are facing times of uncertainty, for reasons that I will mention later, Business Process Outsourcing stands as one of the main alternatives for those companies that seek to stay in business. 

 
Economic background: 

In the years that have passed post-COVID-19, the emergence of health and economic crises is undoubted. 

They further denoted the deficiencies in other health/healthcare systems of different countries due to the demand for medical care and access to both medicines and vaccines in their initial phases. 

Despite the difficulties, government actions regarding the management and distribution of services are debated. 

But the multinationals’ role in the due attention for this event is also considered. 

Additionally, production levels were even more affected by supply chain failures & agri-food production, low employment levels in a considerable number of countries, and various restrictions that, to date, are still in recovery. 

Currently, goods and services, particularly cereals and oil that came from the East, are affected by international security issues. 

But all this is not something that suddenly emerged due to the pandemic.

All these economic phenomena have a history and are the result of construction long before the pandemic. 

About 11 years ago, the United States went through one of the most significant challenges since the Great Depression. 

A crisis in which they were lost $8 trillion in value between late 2007 and 2009. Unemployment climbed, peaking at 10 percent in October 2009. 

Despite a remarkable and historic recovery through fiscal and banking restructuring, not all the adverse effects disappeared, considering the large corporations and an increasingly globalized economy. 

But also, through business outsourcing, a trend was executed, particularly between 2009 and 2010, as a strategy to cushion risks. 

Not a definitive factor, but one that must be considered when analyzing decision-making. 

Image by pikisuperstar on Freepik

BPO and its role in the face of speculation and fear: 

The services provided through outsourcing and nearshore have made it possible for several companies and businesses related to the sectors, as mentioned earlier, to maintain production levels, including current jobs to date. 

A society that maintains high levels of consumption, despite the high percentages of inflation has affected all sectors and care services. 

The attraction of BPO is the establishment of long-term strategic relationships. 

That is why, between negotiations, all points of cooperation are established, and all variants are considered to establish impact metrics and results. 

And through this rigorous process, companies show trust to make investments, particularly in border states, considering the whole series of benefits, not only economical but social and cultural. 

Benefits that have ensured mechanisms that help us combat economic uncertainty: 

  • Job creation 
  • Loyal customer retention 
  • The promotion of entrepreneurship and innovations 

Now, the focus that we must give is the cost-effective angle when hiring a BPO company due to its perfection of back-office process in which they oversee recruiting ideal and matched candidates for the campaign with monitoring of performance and productivity. 

That is a great point we have to highlight, which is not always considered in companies. Productivity is what will give results. 

All executives should pay attention to important points, especially in times of economic and digital globalization. 

And by the concept of economic and digital globalization, we can understand it as the emergence of companies and platforms that constantly emerge through the medium, addressing public problems and interconnecting individuals. 

Image by rawpixel.com on Freepik

Final Thoughts:

As sources like intelligent sourcing, entrepreneurs must establish business with companies in constant development derived from the financial sector (fin-techs), entertainment, gaming, e-commerce, IT, etc. 

In conclusion, BPO is one of the most adaptable industries facing financial uncertainties due to its resistance and adoption of various cost-benefit models without neglecting quality and professionalism. 

But without a doubt, all these phenomena should not be taken lightly since the markets and their consumers tend to generate reserves and duly take better care of their resources. 

Thank you for giving us your time. Would you like to know more about our articles? 

Are you looking for an ally to help you optimize your operations and resources? You can contact us. 

banner must have skills & qualities for any contact center agent
Veronica Mascareno

Must have skills and qualities for any contact center agent 

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I remember the days when I was working as a call center agent for a technical support campaign. 

It is not an easy job. Companies need to continue looking out for effective leadership, tools & methodologies to stand out and facilitate the consumer experience. 

Ensuring those skills with the capacity to create a positive impact not only for the individual but also for the company. 

Outsourcing and call center companies consider elements that, through their recruitment and human resources departments, detect and apply the necessary knowledge to see candidates with the skills and qualities. 

You already have an idea, but do you want to explore a little more about the recommendations of what it takes not only to get a call center agent, but an impact agent? -Join me on this blog! 

 
Communication skills: 

Communication is something we experience every day. No matter our personality type, our needs motivate us to express our demands in any way. 

When making a purchase, getting some food, or visiting, communication is an inevitable and essential practice as an element of human interaction. 

That is why the ideal candidates for a campaign, whether for customer service, support or sales, must be people willing to establish communication in the form of interaction. 

Always bearing in mind that they do not always come across similar cases, they will have to be subject to two essential practices: 

  • Know how to listen 
  • Know how to explain 

In other words, agents must be willing to pay attention and detect exactly what is necessary to solve or satisfy. 

Second, they need to learn how to consider all the critical elements and data to detect the solution and land it with the receiver. 

Focusing on the details, taking notes and asking the client for a precise description are always effective methods.  

If we consider the importance of this element, we will have clarity on how to attend to any call efficiently. 

Image by Freepik

  • Patience and empathy: 

It is always necessary to remember that when taking a call, we are talking to a person, no matter the situation or the attitude. 

Whether we receive a positive or negative attitude, we must have the patience to understand that another person is at the other end, so we must be open to knowing where it comes from and how we can help. 

We could all find ourselves in a situation that requires assistance; now, even though we may find ourselves with a problematic person, professionalism and the willingness to show a: “hey, I’m here to help you” is the best defense weapon. 

These are two qualities that the training department at Redial teaches as a top priority, denoting constant results and genuine care. 

  • Love for tech 

It is imperative to be updated with new technologies and tools that can help us facilitate the operation and the customer experience. 

As an industry, BPO is constantly changing and adapting, so you must look out for people who are not resistant to change, are up to date with various technologies, and are willing to strengthen their knowledge. 

And we must not only consider the use of technological tools. Every day we witness the emergence of campaigns that manage digital products or media, so mastering how they work is necessary. 

Especially considering that the consumer experience trend is happening entirely online. Whether through omnichannel support, surveys, reviews, etc. 

Image by fancycrave1 from Pixabay
  • Organization: 

This ability is directly related to the skills and qualities mentioned. 

Through the organization, we establish a hierarchy of priorities fully adaptable to any specific situation. 

Organizing our processes and methods allows us to flow together, whether at the time of detecting the cause of a problem or a particular need. 

I enjoy witnessing the growth of many fellow agents who have demonstrated their leadership capacity and results through these skills and qualities. 

Fundamental bases that become key to growing personally and professionally. 

What do you think? Do you think this is what it takes to be a great agent? 

Thanks for reading our blog; if you want to see more articles, click here. 

Do you want to have the support of great agents and scale your business? We’d love to talk. 

banner nearshore BPO and its key role in digitl tools
Veronica Mascareno

Nearshore BPO and its key role in digital tools

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It is safe to say that the BPO industry maintains a constant growth, it is even a topic of discussion that I have read and heard in various recent opinion articles, videos, and radio programs.  

Reasons such as the pandemic and supply chain failures have motivated various companies to nearshore because of its proximity to North America.  

This is becoming a series of technological innovations and exchanges that will benefit all stakeholders.  

Technology plays a key role in running nearshore operations and services. If we get into the tools and means used, we see a valuable contribution that has facilitated a considerable number of businesses.  

What began as a series of companies offering certain support services became businesses capable of sustaining total operations through delegation.  

Adaptability:  

The BPO industry, especially nearshore businesses, has shown an ability to adapt in surprising ways. 

Through their resilience and professional teams, the adoption of different methodologies, media and digital tools cushioned what may have been a major constraint such as the pandemic and deficiencies in the supply chain.  

Also, the ability to match not only the needs and objectives of its customers, but also the bilingual factor and the integration of different cultures, have established more competitive advantages, compared to other local or offshore service providers.  

Top technologies in the BPO industry:  

Once we get into the variety of technologies that the industry has implemented in different logistics businesses, consulting firms and nearshore call centers, it is no surprise to see why they have adapted and have managed to diversify their offer.  

Media:  

All those tools with the ability to communicate individuals or cases in their respective media are fundamental to the day-to-day of a BPO.  

Whether by telephone, email or live chat, communication is an industry-driven element when connecting people to meet the needs of any aspect of health, finance, entertainment, etc.  

It is because of these channels that companies have expanded the range of care, according to customer preferences. 

Supported by trained labor forces and available 24/7 by the time zones provided by nearshore.  

Big Data & Cloud Services:  

The management and storage of data has been made possible by the constant investment and application of super servers, able to save and optimize large amounts of work.  

All this data has become a series of opportunities to detect patterns and behaviors that can help us solve problems and understand behaviors.  

And especially considering that the management of big data, controversially in some cases, has become another great opportunity for companies.  

By their nature, since they are mined data, various companies have been responsible for refining them. Yeah, like that Apple TV series: Severance, but without the spooky factor.  

Thanks to this data interpretation, it has allowed the optimization of various multidisciplinary operations even with internal and external challenges.  

But at the end of the day, all that data must be saved, and this is where the companies offering cloud services come in, with the ability to store important information. 

Artificial Intelligence:  

Yes, almost everyone has talked about this tech. Why? – because of its constant advancement and implementation!  

When I discover a new AI program or tool and see what it can be capable of in terms of communication and information analysis, I am totally surprised.  

BPO has driven AI-based tools that have managed to recognize not only voice patterns, but also interprets data for decision making, recognize mistakes and has the ability to alter a person’s oral speech.  

We currently have our tool: Speech Analytics AI. It has helped us study voice recordings to detect speech limitations and address them with our training team.  

Image by DCStudio

Final Thoughts:  

Without a doubt, it is important to recognize the contribution of the BPO industry in the creation and implementation of innovative technologies.  

These tools represent an opportunity to discover and facilitate more operations, and from what I see, they will not stop.  

From data management to different channels of communication and discourse, technology and its versatility has given a sense of prosperity to companies with vision and constant growth.  

If you enjoyed the blog and want to see more of our content, we invite you to visit more articles!  

Are you looking for a way to delegate your operations with the best technology? Talk to us! 

banner BPO keeps thriving in South Africa
Veronica Mascareno

BPO in South Africa keeps thriving, here is how. 

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BPO in South Africa has registered constant investments for different industries since 2018.  

And the numbers continue going up, being recognized as one of the most attractive destinations to outsource different services, according to studies by consulting firms such as McKinsey and Ryan Strategic Advisory.  

What is the reason for this, and why is it striking to me to inquire a little about the industry’s success?  

Because it is a true example of the work that can generate government and private sector together when a vision of development and improvement of communities is shared.  

Especially considering what is coming for the growth of many industries in the country.  

Opportunity and growth development: 

South Africa has recorded the highest economic growth across the African continent, currently surpassing 55 million consumers.  

As part of the world’s emerging economies, it has turned a blind eye to diverse investors seeking to expand its services with talent in the region.  

Although, in past years, particularly between 2013 and 2016, falls were recorded from 1.9 to 1.3.  

The return to growth forecasts offset this until 2023, exceeding 2.3%.  

It gets even more interesting when we get into the estimated value of the entire BPO industry with a presence in the country.  

According to data presented by Grand View Research, since 2019, the industry has generated a total value of USD 1.4 billion.  

Added with the projection of growing 1.3% until 2027, ensuring more trust between companies.  

An industry that has been established as a result of innovation:  

Outsourcing through offshore and nearshore services has been faster in recent years, thanks to the competitiveness they have presented for voice and voiceless services.  

This has been achieved by implementing modern technology that facilitates processes, such as using tools based on artificial intelligence.  

The efforts made in the education sector to provide more opportunities to the population and to offer talent, especially young people, in different disciplines are pretty interesting.  

Call center services have become more attractive yearly because of its language education programs, teaching English, French & Spanish.   

Government and private sector working together:  

As I mentioned, one of the most significant factors is the work complemented by these two entities.  

As part of the development plan in South Africa, both government and companies have established special agreements to incentivize investment with a common goal.  

The one that has stood out and is related to the possibilities that have been presented for the industry and its specialists is the Global Business Services Master plan. 

Intending to create more than 500,000 jobs by 2030, the master plan is the first agreement to stimulate investment in the BPO industry.  

This is due to the excellent talent for high-demand services in the telecommunication, energy, and IT solutions sectors.  

The strategy consists of investments that have exceeded $3.5 million, aimed at infrastructure and technology related to their respective activities.  

Yes, it is an ambitious plan, but it demonstrates efficient capacity when we unite these two entities with a common goal: to provide benefits and employment to their individuals.  

Final Thoughts:  

The outlook for South Africa, in terms of development not only for the BPO industry but the overall economy, looks very promising.  

The variables presented in terms of why the country turns out to be one of the main attractions will undoubtedly boost many opportunities.  

In Redial BPO, the attractiveness of South Africa has previously been exposed, which is why this year, the initial investments in the country have been confirmed and currently operating in 2023.

Offering more jobs and specialized services.  

Much remains to be analyzed and verified, but the future looks promising for all actors involved. 

Thank you for reading. Would you like to read more about the BPO industry? 

Are you interested in taking your services to the next level? Let’s talk.  

banner how the BPO industry impacts the brokerage business
Veronica Mascareno

How a nearshore BPO impacts the brokerage business?  

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Brokerage firms or companies have been intermediaries and key players in facilitating numerous processes.    

Its effectiveness in obtaining financial resources, goods, and capital, in general, has contributed to production levels.    

Additionally, it has developed new tools and ways to diversify income sources.   

But how can these same businesses make it easier for others to increase their market reach, receive support, and delegate numerous requests?    

Since brokerage can work with several commercial sectors, it is essential to have operational services for proper management.   

 Outsourcing your intermediation services allows you to expand your operations reach by different means of work at a cost-effective price.   

Let us tell you how!  

The importance of omnichannel:   

Customer service through omnichannel channels predominates with a 75% preference since the main desire of consumers is to have immediate and consistent attention with various alternatives.    

Due to the constant demand for applications requires preferred methods according to the type of person and case and the ability to transfer simultaneously from one medium to another.   

 This represents the need for businesses to consider adapting to different means of assistance such as email, live chat, and social networks, and the predominant with 76%: is telephone attention.   

Most influential brokerage services:   

The services with more presence and movement flow include:    

• Stock brokerage:   

Above all digital applications, Stockbrokers have amplified their business to the growing interest of diversifying resources and income through the stock exchange.    

 It has represented an opening to what was considered an exclusive service a few years ago, but these services can already be offered to all.    

Above all, considering that investments are either fixed rates of return or high risk (such as cryptocurrencies) requires service and counseling.   

• Credit & loans brokers:   

Specialized services are offered for any information-related topic and assistance to individual accounts.    

• Real estate brokerage    

One of the branches concentrates on the acquisition of buyers and sellers. Care and follow-up processes are critical to the correct management of these investments.   

• Insurance brokerage    

They have an essential task in dealing with cases that can be inconvenient, sinister, or tort.    

Speed and efficiency in these cases are more than necessary by the nature of the events.    

 Recording data and requests are high-volume processes that can be acquired through a nearshore BPO.    

• Business brokerage:    

Offering highly trained agents and the best tools for sale or post-follow-up to close cases establish serious competition in the market.   

Final thoughts:    

The brokerage business is present in many aspects of our lives and continues to grow daily.    

 Companies present themselves with different business strategies, models, technology, and innovation that have solved problems and more accessible opportunities.   

 With a vision of growth and constant transactions, brokerage businesses must be prepared to optimize their processes and align their objectives with strategic partners.    

 Are you ready to take your business to the next level? We’d love to hear from you.    

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