Many companies worldwide rely on business process outsourcing or BPO companies to handle specific tasks or entire segments of operations. Outsourcing is generally a cost-effective solution for startups and even established businesses that are experiencing shortages in office personnel or those that seek to reduce their operating costs.
In this post, we’ll be refreshing your memory on what BPO companies are and highlighting some of the market leaders in this niche!
Understanding BPO Companies
All businesses outsource services, from fledgling startups to Fortune 500 companies, and as more companies seek to get ahead of the competition, the demand for BPO has increased dramatically. Often used as alternative labor migration, BPO is an excellent way of harnessing the skills of international talent while allowing them to remain in their home countries.
BPOs fall into one of three categories, and depending on where the vendor is located, the process can be offshore, nearshore, or onshore.
Offshore vendors are located outside of the organization’s home country. An excellent example of offshore vendors is a Spanish company using an offshore BPO vendor in South Africa.
Nearshore refers to BPO vendors that are in the contracting company’s neighboring country. For example, in Canada, a BPO in the United States is a nearshore option.
Onshore BPO vendors are in the same country as the contracting company, albeit they might be in another geographical area. A contractor in Seattle (U.S) might use an onshore vendor located in Texas.
There are several services that BPO providers now offer in an attempt to help fill gaps within organizations. Some industries that participate in BPO initiatives include business services, language services, retail and e-commerce, healthcare, pharmaceuticals, energy, automotive, telecom, banking, supply chain, capacity solutions, and asset management, to name but a few. Thanks to the rising popularity of BPO, many subspecialties have emerged.
However, choosing a BPO company is not something to be decided upon randomly. The ideal choice is something that is in the mold of the best and greatest BPO companies. Here are 7 BPO companies that are setting the stage for outsourcing success!
Top BPO Companies
A wholly-owned subsidiary of Synnex Corporation, Concentrix is a California based outsourcing company founded in 1983. It operates in more than 125 locations worldwide and employs nearly a quarter of a million people. After its acquisition of Convergys in October 2018, it has gained a significant boost in its competitiveness.
The company also acquired several other large BPO companies. Two of the most notable of which are the Minacs Group Pte. and IBM Worldwide Customer Care Services.
Concentrix is involved in several industries, namely automotive, consumer electronics, the energy sector, banking and finance, healthcare services, insurance, retail, e-commerce, technology, travel, transportation, tourism, as well as the media and communications field.
This global business services company is notable for its advanced analytics capabilities powered by Voice of the Customer Analytics (VOCA), which is used for analyzing unstructured content, generating performance scorecards, the forecasting of call volumes, operations analytics, IVR analytics, web analytics, and the enhancement of business revenues.
Additionally, Concentrix employs multi-channel enablement covering voice (including interactive voice response), chat, SMS, mobile platforms, the web, social media, and face-to-face interactions.
Genpact is a publicly listed professional services company headquartered in New York city. It is one of the oldest business process outsourcing companies in the world with a
revenue record of more than $3 billion in 2018. The company has more than 87,000 employees.
Genpact started as a unit of General Electric (GE) established to provide business process solutions to the different operations of GE. As the unit grew, it started serving GE’s financial and manufacturing businesses. Eventually, it became an independent entity that served clients outside of General Electric.
Just like almost every other large BPO company, Genpact grew further by acquiring other companies. It acquired the Texas-based enterprise mobility software company Endeavour Software Technologies in 2016. The year after, Genpact bought the Boston-based TandemSeven.
It also acquired OnSource, a company specializing in Inspection-as-a-Service (IaaS) solutions in September 2017. In July 2018, the company inked a deal for the acquisition of Barkawi Management Consultants, a supply chain management business operating in the United States and European markets.
Not all of the best and biggest BPO companies in the world are American. Case in point: Infosys. This is an Indian multinational IT company founded in 1981, and is now one of the largest businesses in the world. It has more than 228,000 employees worldwide and recorded $11.8 billion in revenues in the past year.
The company is listed by Forbes as the world’s 596th largest public company. It is also notable for scoring an A- rating from Standard & Poor’s.
Infosys is mainly involved in software development, maintenance, and validation. It serves companies in the insurance, finance, manufacturing, and other industries. One of its most notable brands is Finacle, a universal software solution designed for the corporate banking and retail sectors. It also provides a global management consulting service referred to as Infosys Consulting.
To become one of the biggest BPO entities in the world, Infosys acquired several companies including Switzerland’s Lodestone Holding AG, which is involved in management consultancy; Israel’s Panaya, an automation technology specialist, and a number of American companies.
Four of the most expensive US company acquisitions of Infosys are Skava (a digital experience solutions provider), Noah Consulting (information management consulting firm), Skytree (machine learning specialist), and WongDoody (an advertising and creative services company).
DayBPO is making its presence felt with its emphasis on multilingualism and deep cultural understanding. As an offshoot business of global language service provider Day Translations, Inc., DayBPO brings with it extensive expertise and experience in dealing with businesspeople who use different languages and come from varying cultural backgrounds.
DayBPO operates as an omni-channel company that specializes in the outsourcing of customer management. It provides customer care, customer acquisition, technical support, as well as back office services to businesses of all sizes worldwide.
It competently handles customer care and support needs of businesses in the B2B, B2C, SMB, and B2E settings. The company is backed by a global interdisciplinary team of industry experts with the exemplary skills needed to ensure outstanding customer experiences.
The company’s customer management solutions includes product releases, service sales, lead generation, data verification, the scheduling of appointments, cross-selling solutions, loyalty management, and customer retention services.
When it comes to customer care, DayBPO guarantees proficient customer assistance, problem solving, payment facilitation as well as billing explanations, the handling of complaints, first and third party collection, as well as primary and secondary recovery services. For the back office solutions, the company provides bespoke services for case management, back office billing and chargeback, collections, and order management.
While other business process outsourcing companies focus on the cheap labor they can tap overseas, DayBPO capitalizes on its more than a decade’s worth of experience in working with different kinds of businesses and teleworkers across the world.
Accenture is a multinational professional services company listed in the Fortune Global 500. Incorporated and headquartered in Ireland, this publicly listed company is a behemoth amongst BPO firms. It employs more than 477,000 people worldwide, around 150,000 of whom are in India, 50,000 in the Philippines, and 48,000 in the United States.
The company operates in more than 120 countries serving a wide range of clients including 92 of the Fortune Global 100. In 2018, the company recorded $41.6 billion in revenues.
Accenture has five core services and operations. These are Accenture Strategy, Accenture Consulting, Accenture Digital, Accenture Technology, and Accenture Operations. Accenture Strategy focuses on business, technology, and operations strategy solutions.
The Consulting division of the company focuses on business, tech, and management consulting. Accenture Digital, on the other hand, provides services in the field of digital marketing, mobility, and analytics. Accenture Technology centers on tech solutions development, implementation, delivery, and R&D. Lastly, Accenture Operations deals with the “as-a-service” scheme of service delivery. This includes IT, cloud, security, and managed operations services.
Accenture is one of the most-awarded BPO companies in the world. Forbes hailed it as one of the best management consulting firms in America in 2017.
Fortune magazine listed it as one of the most admired IT services company in the world. Ethisphere also honored Accenture as one of the most ethical companies in the world. Additionally, the company featured in Fortune’s “100 Best Companies to Work for’ for a decade, from 2009 to 2019.
A French publicly listed business process outsourcing company, Teleperformance specializes in omni-channel customer experience management. With more than 300,000 employees, it is one of the world’s biggest private employers.
It operates around 400 contact centers in 80 countries serving more than 170 markets worldwide. Teleperformance also holds the distinction of being one of the oldest BPO businesses having been in the business for more than four decades.
Teleperformance does not only stand out with its gargantuan size and global reach. It has also received recognition for excelling in its field. In 2015, the company won the Aon Hewitt Best Employers Program. In 2016, it received the Enterprise-Wide Certification by Verego, which means that the company passed the requirements imposed by the Verego Social Responsibility Standard for leadership, community, ethics, environment, and people.
Moreover, Teleperformance was hailed (in different years) as one of the best companies to work for in several countries including Brazil, India, Dominican Republic, El Salvador, Mexico, Albania, Tunisia, and Portugal. They also nominated it as one of the most trustworthy companies in Europe.
Teleperformance received the 2015 Frost Sullivan Award for Competitive Strategy Innovation and Leadership. The company featured in the Top 100 Global Outsourcing All Star Service Provider list of the by the International Association of Outsourcing Professionals (IAOP) in 2017. Teleperformance ranked among the best outsourcing service providers by the IAOP for six consecutive years since 2014.
Sykes is an American business process outsourcing corporation specializing in customer service, technical support, and order fulfillment. Headquartered in Florida, the company offers technical support, customer service, IT consulting, IT-enabled services, and other types of business process outsourcing. It also offers telehealth solutions and virtual assistance services.
The company started as a small engineering firm that eventually expanded into an international business with operations in Canada, the Netherlands, Costa Rica, El Salvador, Brazil, China, India, Germany, the Philippines, and several other countries worldwide.
Sykes’ first business acquisition was the purchase of Jones Technologies, Incorporated. This paved the way for the company’s entry to the customer support business. Later on, Sykes acquired several other companies including McQueen International Limited, Apex America, the ICT Group, Alpine, Clearlink, and Symphony Ventures. Today, it is one of the best BPO companies around the world.
These companies are examples of businesses that emphasize decisive business actions, excellent management, good employee handling, high regard for customer satisfaction, and innovative services. They are some of the world’s most important and promising business organizations.
Their success lies in their management approaches, how they take advantage of opportunities, and their unending quest to develop creative solutions in tune with their strengths and the needs of customers.
Choose the most suitable BPO company for your business expansion.
If international growth is your focus, you need the assistance of a company extensively acquainted with the operations of a global business. Especially when it comes to the language barrier and cultural differences. The company to choose does not have to be the biggest or oldest. What’s important is the expertise and experience to handle outsourcing needs competently and efficiently. A company like Day Translations, Inc., with its DayBPO service, has everything you need to effectively penetrate foreign markets. Don’t hesitate to Contact Us through email or via telephone by dialing 1-800-969-6853. Our services are available 24/7 to anyone anywhere in the world.