Key Roles Of Business Process Services In 2024

Business Process Services (BPS) involves outsourcing certain tasks or processes to companies that specialise in them. It is a good idea to outsource certain activities of an organisation to ensure they are handled in a better way by professionals who are expert in the domain. It also enables businesses to focus on their core competencies and thus perform better.

Although Business Process Services are considered subpar compared to an organisation’s core competencies, there is no denying that these processes are essential. This is the reason why more businesses are outsourcing several processes. Among the processes that are commonly outsourced are content writing, recruitment, customer services, and web designing and development. But how is BPS different from BPO? What is the key role of BPS? What are its chief advantages? How does automation help Business Process Services? What steps should be followed to outsource your services efficiently? Let’s find out!

BPS & BPO Difference

Technically, there is no difference between these two terms. Business Process Services (BPS) and Business Process Outsourcing (BPO) are used synonymously to refer to the different business processes required in an organisation.

However, on a more detailed level, one can point out that Business Process Services have an additional layer of technology combined with BPO. It is a mix of people, processes and technology that differentiates it from BPO. 

In recent years, there has been a shift in the industry jargon. BPO has become BPS; now, in 2024, it is known as Business Process Management (BPM). BPM focuses more on management-related tasks, but the main aim remains to manage and automate an organisation’s commercial processes.

Main Advantages of Business Process Services

Here is how BPS benefits businesses:

1. With the help of expert professionals, BPS helps enhance customer experience. 
2. They help increase business revenue with the use of design thinking, artificial intelligence, augmented data and analytics processes, and multi-channel support.
3. They encourage the adoption of modern operational principles.
4. The use of advanced technology and process redesign helps increase productivity.
5. The profit margin increases through cost reduction.
6. Specialised BPS support helps businesses test and work on new and innovative ideas.
7. BPS encourages a circular economy by putting recycling concepts into use.

From BPS To BPaaS

Businesses have benefited from digital transformation, and how! Technology has benefited businesses, leading to cloud services. Business Process as a Service or BPaaS is a fully configurable cloud service that helps companies to stay on top of the best industry processes and practices. It takes business processes one step further by increasing efficiency and reducing costs and downtime. Businesses benefit through:

• Better product and service deliverability
• Cutting-edge technology at reduced costs
• Accommodating the fluctuating business needs

Business Process as a Service is known for its unique operational flexibility and agility have has made it one of the most preferred cloud services alongside infrastructure as a service (IaaS) and platform as a service (PaaS). It can be said that the future of BPS is BPaaS. 

Key Roles Of Business Process Services

Technology is changing the fundamental nature of businesses. Organisations are now giving way to new-age technology-led innovative business models led by next-gen dynamics. The changing business landscape and customer expectations disrupt traditional cost versus labour-oriented business process services. BPS is used in several industries. Here are some critical roles of business process services standing in 2024:

• Data Entry
• Email Support
• Web Designing
• Content Writing
• Voice Processes
• Technical Writing
• Medical Transcription
• Legal Process Outsourcing
• Education Process Outsourcing
• Knowledge Process Outsourcing
• Recruitment Process Outsourcing
• Customer Services

Outsourcing Core Business Processes in 2024

Most companies choose to outsource some or all of the aforementioned processes to share its load and seek expert service. However, several companies have begun outsourcing their core business processes such as the following:

• Marketing and Sales
• Finance
• Accounting
• Supply Chain

Industries Banking On Business Process Services

While most businesses outsource processes to focus on their core competencies, some sectors rely mainly on outsourcing. Following are the industry sectors where there is a high prevalence of process services being outsourced:

1. IT
2. Banks
3. Airlines
4. Telecom
5. Insurance
6. Travel Agencies
7. Asset Management
8. Government Sectors
9. Healthcare & Pharma

How Does Automation Help Business Processes?

Businesses can automate their processes and speed up their workflows. This increases productivity, reduces person-hours and gives an overall competitive edge. Here are some examples of how automation of process services can help a business:

1. Marketing & Sales teams can easily automate marketing emails and track sales proposals and reports.
2. The finance department can manage all accounts easily and payables with greater accuracy.
3. Customer support and ORM teams can retrieve data and conversation logs in seconds to escalate the issues.
4. Human Resources can speed up employee onboarding, focusing on other essential tasks.

Automation In Business Process Services

Some business process services need to be automated irrespective of the industry. Business Process Automation (BPA) is the use of software to automate repeated, multistage processes that would otherwise require long hours and other resources. Compared to other types of automation, BPA is tailored to the organisation’s specific needs. 

But BPA is often confused with Robotic Process Automation (RPA). While RPA uses software to mimic repetitive steps, BPA softwares tend to handle more complex tasks. Also, three factors distinguish between the two processes: integration, pricing, and workflows. 

Examples of RPA include:

• Navigating pages
• Logging into systems
• Copying & pasting data
• Removing duplications & inaccuracies

Processes Businesses Need To Automate

Although Business Process Automation may seem ordinary nowadays, it started with Henry Ford’s moving assembly line for his Model T cars back in 1913. Fast forward a century, computing power has increased a trillion fold, resulting in more rapid, better and efficient business process automation. With business process services being automated at every step of the organisational function, some processes rarely need manual intervention. Here are a few processes that businesses automate for better cost efficiency and productivity:

• Analytics & Planning
• Operations Management
• Purchase Order Requests 
• Social Media Management
• Customer Support & Experience

Business Process Services Steps

Here are the essential steps involved in outsourcing BPS:

• Look for service providers that offer specialised services and shortlist the ones that have goodwill in the market.
• Narrow down the options to the ones that use advanced technology and provide modernised services. 
• Conduct a thorough assessment of the current processes followed by your potential service provider to understand their efficiency and scope of improvement.
• Discuss the financials and see if the amount being charged fits your budget.
• If the above matches your requirement and budget then go ahead and sign the contract. Do not forget to go through the various terms and conditions involved in the process before signing the deal. 

Conclusion

Business Process Services (BPS) are essential to keep core organisational processes streamlined and manage various other processes efficiently. It is important to select your business process service provider cautiously to strike a beneficial deal. Automated marketing tools like Shiprocket Engage make post-order communication more straightforward and help businesses reduce high-risk orders. This adds to better customer support and experience. In a market that focuses on customer retention and engagement, automating business process services is the way forward.