by Lowell Clifford Opada | Dec 13, 2021 | Industry Knowledge
Because of its affordability and effectiveness, live chat has remained one of the most successful customer service channels to date. It has advantages that will help your business succeed. Companies are searching for cost-effective solutions in the midst of the economic downturn. With the current state of the economy, outsourcing live chat has increased in popularity.
Businesses that are unaware of live chat outsourcing depend on their in-house team to handle it, which adds to their other responsibilities. Letting your employees manage it can not only be inconvenient for them, but it is also expensive. Here are five perks of outsourcing live chat.
Experienced staff. Companies that provide outsourcing services have well-trained and skilled employees. This means that the customers get the support and expertise they need. This will also help you save money on training your staff, as training and development costs are on the account of the outsourcing provider.
Re-defined focus. Customer service is essential to the success of every company. With a dedicated team solely handling that aspect for you, you and your team can concentrate on critical areas such as operations, marketing, sales, and distribution. By outsourcing live chat services, your team members can now focus more on other critical aspects of their work.
Fewer expansion costs. Company expansions will affect the cost of rent, salaries, and utility bills. Letting your outsourced team handle your live chat services will help you grow your customer support coverage without incurring high costs. Most business process outsourcing companies charge considerably lower rates especially when they’re located in countries like the Philippines.
Real-time coverage. Many customers usually reach out to you after office hours. Save the hassle of employing staff at odd hours by having your outsourced staff respond to your customers in real time. Most outsourcing vendors, such as SOPHI, operate 24/7. With this, you can double your ability to “be there” for your customers, thus earning their trust and loyalty.
Customer-centered support. With the aim of reducing costs, several companies turn to chatbots to handle their chat support. However, this can feel impersonal to customers. Outsourcing live chat to a BPO can help humanize your business with an actual agent on the other end of the line. Make your customers feel connected. Customers will feel more at ease if your chat operators engage with them in conversation. Customers are more likely to maintain a positive relationship with your organization if they receive personalized responses.
Outsourced live chat services have become a trend in these modern times. The Philippines is one of the world’s top destinations for business process outsourcing. Choosing a BPO company in this country would give you a competitive advantage.
by Lowell Clifford Opada | Dec 6, 2021 | Industry Knowledge
Healthtech startups are one of the most rapidly growing businesses around the world. Although striving to fix the nation’s numerous healthcare problems is far from simple, the complexity of starting a business in the industry does not intimidate today’s eager entrepreneurs.
Aside from the problem, solution, market, and monetization, which are the fundamentals of any startup, establishing a healthcare business has particular challenges. It’s a highly regulated industry controlled by conglomerates, making it even more difficult for any entrepreneur to launch a successful startup.
This industry can be particularly challenging for entrepreneurs. So, we’ve compiled three tips to help you maximize your chances of success.
1. Provide an Essential Service.
Making sure you have something people need and knowing how much they’re willing to pay for it is the first step in starting a healthcare firm.
Get to know your target market and examine the difficulties they experience in their daily lives. Analyzing how your service can potentially alleviate their pain points will guide you in the right direction for your new business.
2. Secure FDA Approval Ahead.
The FDA is known as the world’s leading healthcare regulatory agency, creating clear approval standards and making partnerships with medical companies around the world. Since getting a new product through the FDA and onto the market is every medical technology firm’s dilemma, especially for startups, involving them as soon as possible can be highly beneficial going forward.
A startup will likely come across a few lapses in developing their product and will have to make iterations as they build it along the way. With that said, startups reaching out to the FDA directly to understand what’s expected of them ahead in the process is more desirable and can further protect your business by increasing stakes for competitors looking to come up with their alternatives.
3. Consider Outsourcing.
Outsourcing critical business activities allow you to save money while focusing solely on your business and its core functions. This will also boost the flexibility with which resources can be configured to meet changing market demands.
A key concern that many entrepreneurs worry about when outsourcing is data security and privacy since it’s one of the most critical aspects when dealing with patient data in healthcare. No matter where your startup outsources, it’s vital to find a reputable service provider that complies with international data protection standards. For instance, The Health Insurance Portability and Accountability Act (HIPAA) sets the standard for sensitive patient data protection. Do your research to ensure that you only work with BPOs that put data protection as one of its utmost priorities.
Fortunately, many outsourcing destinations, such as the Philippines, adhere to international standards in data protection and privacy. Republic Act No. 10173, otherwise known as the Data Privacy Act in the Philippines, is a law that seeks to protect all forms of information, be it private, personal, or sensitive, which assures your data privacy concerns. With the country’s rising position in the outsourcing industry, most BPOs are certified with ISO 27001 accreditation. Even smaller BPOs, such as SOPHI, comply with ISO standards and are accredited under PCI-DSS.
Establishing a healthcare startup is a risky move. As more businesses compete for funding and attention, the business environment has become more competitive. Patience, a solid foundation, and due diligence in checking regulations with the right agencies are required to cover all your bases and start your new business on the right track.
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by Lowell Clifford Opada | Nov 8, 2021 | Industry Knowledge
With the global market being affected by the pandemic, entrepreneurs are now more hesitant to invest in scaling their businesses. In the latest survey by the Proceedings of the National Academy of Sciences of the United States of America (PNAS), 41.3% of businesses reported temporarily closing because of COVID-19. Business conditions continue to worsen, and survival is at risk. Here are reasons why outsourcing can be a survival plan in this pandemic.
- Affordability – Outsourcing decreases spending compared to hiring in-house. With increasing health benefits required to attract talent, hiring additional employees onshore can rack up the costs of running your business. Outsourcing reduces the cost of manpower with a considerably lower cost of labor in BPO destinations like the Philippines.
- Scalability – Outsourcing allows firms to grow operations to ease the burden of their workload. Almost any task can now be outsourced, and the latest software and technology are accessible online. Companies such as SOPHI, offer a wide range of services, from customer support to digital marketing.
- Flexibility – Outsourcing providers have the ability to increase the number of manpower according to your needs. Resources can be added during your business’ peak seasons to support the demands of your customers. After which, you can easily scale back to your core team onshore when you reach the lean months.
A recent study by McKinsey & Company claimed that 90 percent of executives said they expect COVID-19 to fundamentally change how they do business in the next five years. Smart strategies are needed to get through these challenging times. Outsourcing has become a viable solution to the growing pains of many businesses in this pandemic. Combining the right strategies with the help of a reputable service provider offers a long-term plan to help businesses outlive this crisis.
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by Lowell Clifford Opada | Oct 18, 2021 | Industry Knowledge
In every startup, managing and functioning can be a challenge. Whether running it alone or having a partner, certain activities pressure owners in keeping the business afloat. At some point, they will need help to focus on growth and operations at the expense of spending less. Although outsourcing can help prosper a great run in the industry, when is the right moment to consider it?
Operating a startup can be time-consuming, and the urge to succeed professionally can push owners to set aside their well-being. Workplace burnout may contribute to a decrease in work performance and may put the firm at risk. Investing in outsourcing unloads that burden and allows growth by hiring external insights that benchmark on executing duties.
Task delegation is also a factor when considering the time to outsource. It may differ in many features, but startups should determine if they have the abilities to handle it. Offshoring a skill gap is the best choice as they can search for a person or company with the expertise needed without restrictions.
A recent survey headed by a Business Process Outsourcing research company (Assivo) shows that 59% of respondents consider outsourcing a cost-cutting and can cut labor costs by up to 70%. This offers a variety of advantages and is usually the ideal setup for new companies that want to utilize their limited available sources
A struggle in work-life balance, a skill gap in operations, and cost efficiencies are determinants in deciding when to do it. Working with a trusted partner like SOPHI helps businesses assist with jobs outside the company’s center to be fully globally competent in the industry.
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by Lowell Clifford Opada | Apr 6, 2021 | Industry Knowledge
Working remotely has its advantages and disadvantages. When done right, it provides great flexibility and incomparable benefits of work-life balance. However, to reap the benefits of working remotely, you must possess several skills, including time management.
While working remotely, you’re responsible for creating a structure or a routine that helps you get things done effectively and efficiently. This is necessary if you don’t want to mix your work with your leisure time. The goal isn’t just to get everything done on time, checking one task at a time. It’s to have a smooth and easy working rhythm so that you don’t feel drained at the end of the day. Here are five strategies that can help you manage your time more effectively.
Track your time.
To effectively manage your time, you must understand how you use it. Time tracking helps you know how long it takes to complete different tasks to allocate the right amount of time for each one of them. This allows you to budget your time for more critical activities in your day. Additionally, this strategy helps highlight your inefficiencies and distractions, so you can regularly improve your routine.
Block your distractions.
Distractions come in many shapes and forms. To truly succeed at time management, you have to build up your ability to focus and master your distractions. One simple tip is to put your phone away. Set a designated time to check your phone for notifications, emails, and messages.
Change your work setting.
When you always work from home, it’s quite easy for work to mix with your downtime, and without a clear cut-off, you might find yourself working longer hours than you would in the office. Try moving to a cafe or a co-working space, even for an afternoon. This can help create boundaries between work and rest.
Have buffers in between tasks.
Try to leave at least ten to fifteen minutes between tasks to prevent spillovers. It keeps you from rushing between items on your list, and it helps you work at a more relaxed pace. If a meeting takes longer than what you initially expected, you wouldn’t have to worry because you’ve already budgeted time for this. And if you finish something a little earlier than expected, then you’ve earned yourself a break!
Don’t forget to treat yourself. Small rewards after completing a certain task can be a great motivator. Taking minor breaks can make great rewards, or treating yourself with a cup of your favorite drink after that difficult work hump can be beneficial too. Doing this will not only make you feel good about yourself, but it’s also a great way to keep you moving toward your goal.
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