In the lion city of Singapore, many companies choose to outsource their business processes as a cost-efficient strategy. It is predicted that the revenue of this service will reach $3.04 billion in 2024.
However, in Vietnam, the adoption of business process outsourcing (BPO) is only a quarter of that in Singapore. There are three misconceptions that have hindered the growth of this service in Vietnam.
DOES OUTSOURCING COST A FORTUNE?
Cost is always a key consideration for companies when deciding to outsource a service. Business leaders often believe that outsourcing their business processes “as a whole”, from project management to deliverables, would require a significant investment.
However, in reality, outsourcing vendors design a model based on the needs and finances of the company to limit costs and ensure transparency, monitoring, and reporting.
Instead of maintaining a large workforce to perform non-core processes, outsourcing the business processes to experienced experts in specific fields allows companies to benefit from specialized knowledge without the need to invest in training and development. This helps save costs and time.
“Moreover, with the same cost, when using business process outsourcing services from professional providers, companies also gain the expertise of local market insights and extensive experience in business projects both domestically and internationally,” said Ms. Ly Ngoc Tran. At Talentnet, we are currently working with more than 30 experienced consultants and advisors, providing business process outsourcing solutions for over 300 different projects in various industries for Vietnamese companies.
DOES OUTSOURCING GUARANTEE KPIs LIKE INTERNAL EMPLOYEES?
Even though it is common practice to hire a whole sales team to manage and operate all aspects of the business, heavy workloads, particularly during the goal completion periods, tend to limit the time allocated for strategic tasks such as setting new directions and evaluating effectiveness.
“The first quarter of each year is a nightmare for the operations and business division. Not only do I have to start the year’s plans, allocate resources and operating costs, but I also have to ensure business results. I have too much on my plate,” says My Hanh (35 years old, Head of the Issuing Section at a bank in Ho Chi Minh City).
In this case, outsourcing business processes is a suitable solution for companies. This solution can help address specific tasks, such as designing candidate search processes and training teams. Additionally, outsourcing business processes offers a complete package, including proposing strategies, business objectives, and project implementation.
Furthermore, companies are provided with a “candidate warranty” during the service period. This means that if a candidate resigns during the probationary period or does not meet the company’s requirements, replacements will be provided to ensure the original KPIs are met.
Ms. Tran suggests that before finding a reliable outsourcing partner, companies need to identify which non-core tasks can be outsourced. Then, they should evaluate the core areas. Based on these factors, leaders can make informed decisions and choose which business functions to outsource. Ultimately, the goal of outsourcing is to ensure the project’s KPIs.
Business executives may consider the business process outsourcing solution provided by Talentnet. In addition to cost considerations, when signing a contract, Talentnet commits to achieving partners’ business goals and KPIs, as well as ensuring project execution compliance with current labor regulations and minimizing potential legal risks for companies.
IS THERE A HIGH RISK OF INFORMATION LEAKAGE?
In the era of Industry 4.0, data is considered the “new currency” in businesses. The biggest challenge for companies is how to secure large data sources and company internal circulation. Many executives believe that outsourcing, especially business process outsourcing, can easily lead to data leakage and reduce security.
In reality, when collaborating, the data security of customers is guaranteed through signed commitments by Talentnet. “Over the years, Talentnet has always been a trusted partner for hundreds of companies for outsourcing solutions in human resources and business. Particularly, the business process outsourcing projects strictly adhere to current labor regulations and minimize legal risks for our partners,” affirmed Ms. Tran.
Talentnet’s business process outsourcing solution can dispel and address the three basic misconceptions of Vietnamese companies. Find out more about Talentnet’s solution at: https://www.talentnet.vn/vi/dich-vu/dich-vu-nhan-su-thue-ngoai/bpo-thue-ngoai-quy-trinh-kinh-doanh?utm_source=pr&utm_medium=pr&utm_campaign=hro2024
