Zappix Industry Insights
The New BPO Profit Center:
On-Demand Customer Self-Service
Business Process Outsourcers are increasing revenue by leveraging state-of-the-art emerging technology.
Today’s digitally connected, instant-gratification society demands fast responses and smooth experiences. Modern consumers expect service in seconds from self-service, automated solutions. To stay relevant in the On-Demand Economy, business process outsourcers must deliver the kinds of mobile, engaging experiences consumers demand and BPO customers are looking for.
Legacy IVR trees have served BPOs well for years, but in a world where ordering a taxi, booking a place to stay, or getting food delivered is as easy as tapping a button on our phones, these experiences feel slow and standardized. Critically, segments like business process services (BPS) are becoming key differentiators for modern outsourcers that have invested in emerging technology like Robotic Process Automation (RPA) and On-Demand customer service solutions. To stand out from the pack and attract new customers, BPOs must adopt and integrate these new, exciting technologies into their offering portfolio.
“To stand out from the pack & attract new customers, BPOs must adopt and integrate new, emerging technology like RPA and On-Demand CX solutions.”
For BPOs in our continually more customer-focused economy, attracting new businesses means offering the latest advances in automation, faster user journeys, and the best CX. For BPOs built around a pay-per-minute business model, this drive for automation and streamlined experiences can be difficult to balance with the need for growth and profitability. More automation means more new customers, but less time spent per call and potentially lower revenue. This outcome is obviously undesirable. BPOs must stay relevant to the digital marketplace, but cannot sacrifice the bottom line to do so. They must find a solution that allows for continued innovation and self-service capabilities, while also maintaining business outcomes.
Luckily for outsourcers, the best middle ground is starting to emerge. The same technology bringing about the need for differentiation has paved the way for a new pricing model perfect for BPOs looking to offer the sophisticated technology packages their clients desire. Small, medium, and large scale BPO organizations can all benefit from this new business model to attract more customers, scale smoothly, and maintain (and even improve) profit margins.
“The same technology bringing about the need for differentiation has paved the way for a new pricing model perfect for BPOs.”
Two emerging technologies are combining with a classic business strategy to provide the perfect solution for business process outsourcers. Robotic Process Automation (RPA) has established itself as the best automation solution for most business cases, and Visual IVR has brought legacy IVR tress into the 21st century with the usefulness of an instantly available app without the need for consumers to download anything onto their phones.
The combination creates a powerful automated customer service solution capable of providing incredibly fast, effective self-service CX for a majority of use cases. Traditionally, automating customer servie and deflecting calls away from contact centers wouldn’t align with the goals of many BPOs. To deliver the experiences customers want, many outsourcers have begun implementing their new on-demand self-service solutions with a new business model: charging for every call contained by their automated systems.
The New Profit Center
When BPOs implement automated solutions like RPA and charge their customers for the added service and improved CX, automation becomes not only a viable business model but a profitable one for outsourcers. Simply charging $0.99 – $1.49 for every call contained by automated self-service maintains BPO margins while providing BPO customers the functionality they crave.With Visual IVR and RPA sold per call contained, outsourcers have found the best solution to the moder ncustomer experience Catch 22.
Because automated bots don’t need to be paid, costs remain low even as volume increases exponentially. This feature of automated services creates another benfit for BPOs. Scaling up for onboarding new clients has never been as efficient or effective — even for the busy holiday season! Outsourcers of every size find tremendous ROI from reduced ramping pressures. BPOs can quickly implement RPA and Visual IVR solutions to cover the majority of customer service interactions while the live agents they currently employ handle the more complex calls where live agent skills play an important role.
Digital, automated solutions are providing these forward-thinking, modernizing BPOs brand new growth opportunities and opening the door for larger and faster scaling than ever before. A new charge-by-call-contained business model is helping BPOs in every segment offer modern solutions while differentiating their offering and maintaining profitability. The best news for BPOs: this new technology and business strategy is most directly relevant to highly valued business processes like F&A, purchasing, and customer service — areas where services providers can integrate new digital technologies using APIs.
Staying relevant to prospects and current customers can be challenging for BPOs in our constantly changing digital world. Balancing new automation and bottom line business goals is a continually shifting task for BPO business leaders. The powerful combination of RPA, Visual IVR, and a new business model has proven to be the best option for outsourcers committed to growth in the modern technology and advanced automation marketplace.
“A new charge-by-call-contained business model is helping BPOs in every segment offer modern solutions while differentiating their product offering and maintaining profitability.”
Zappix delivers On-Demand Customer Service Solutions: Visual IVR, On-Demand Apps, Outbound Engagement, and Robotic Process Automation (RPA). The cloud-based solutions improve the customer journey during contact center interactions. The open platform enables workflow automation, rapid deployments, and seamless integration to back-end systems (CRMs, ERPs, etc.) and IVRs, and provides a comprehensive Analytics Suite.
The Zappix solution provides significant benefits and ROI: reducing costs by increasing containment rates for contact centers, improving customer experience and Net Promoter Score (NPS), creating new revenue opportunities using targeted promotional banners and automation of revenue generating use-cases.
Find Your Profit Center