One of the important decisions, while outsourcing is - where and how do you start? And what do you need to do to make it work? Here are some points that we have learned through mastering the outsourcing process for several of our clients.
1. What to outsource
A. Moving from high impact/ high success opportunities to more complex processes
a. Companies typically start the engagement with a process that is less critical, but for which an impact can be easily noticed. Once they achieve acceptable stability and repeatability in that process, they start focusing on moving the more complex as well as customer facing processes. b. Moving gradually from less critical processes to more complex and customer facing processes gives enough opportunity for the customer to evaluate the BPO vendor, who in turn can better their expectations and absorb the customer’s organization culture.
2. Transitioning to outsourced operations
A. Setting expectations right
a. Define expectations upfront, so that the BPO vendor can start planning to meet them as a part of day to day operations
B. Defining the Trial period
a. Define what will go first, hand-pick people who will manage this for you, as a part of the outsourced relationship
b. Impart process training as well as provide clarity on business expectations as well as outcomes they are expected to drive. C. Identify the key measures/metrics
a. While the customer operations move to steady state gradually, it is essential to identify a BPO vendor, who will closely track operating metrics and be transparent about it.
3. How do you make it work? A. Strong Governance & Communication framework - making smooth transitions a reality
a. While it takes time for a customer to move to a mutually accepted state with its outsourcing partner, there needs to be a strong governance and escalation mechanism (part of a robust transition methodology of the BPO partner) that will ensure that the customer feels at ease in case of any unacceptable issue in the interim.
b. Responsiveness and approachability of the senior management team (of the BPO partner) plays a big role in ensuring that the customer is able to transition through this phase successfully.
SLK Global is one of the preferred mortgage processing solutions provider and offers several innovative and customer-friendly outsourcing models. Set up a 15 mins call and we can talk about how we have been helping several mortgage clients’ benefit from outsourcing.
About SLK Global
SLK Global is a part of the SLK Group, a leading business process and software services provider with over 4,000 employees across several locations. SLK Global focuses on providing BPO services to mid-sized and large financial services organizations in the U.S. banking, mortgage lending, title insurance and other financial services sectors.
Founded in 2000, SLK is headquartered in Bangalore. India. SLK Global is an ISO 9001:2008 and ISO 27001 certified company and is SSAE 16 Type II certified. For more information, please visit us at http://www.slkglobalbpo.com.