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Frequently Asked Questions - Business Process Outourcing
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Q: What is Business Process Outsourcing?
A: Business Process Outsourcing (BPO) can be defined as "The delegation of one or more business processes to an external provider that owns, administers and manages the selected processes, based on defined and measurable performance metrics"
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Q: Why is BPO Critical for today’s business?
A:
- Size and social organization of modern companies
- Acceptance of strategic, in addition to tactical, outsourcing
- Competition, falling profit margins, Globalization of Markets
- Increasing price pressures, deregulation and competition
- Traditional reasons - "better, faster, cheaper"
- Realization that it all matters - even non-core processes
- Emergence of the virtual corporation business model
- Focus on speed of execution
- Need to keep pace with change (especially technological)
- Increased acceptance of shared service centers
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Q: What are the advantages of outsourcing with VIT?
A:
- Scalability
- Cost control
- Regulatory compliance
- Increased accessibility
- We are a customer-centric group and are committed towards delivering world class services that enhance the Customers profitability and control.
- Establishing consistent reporting best practices
- Implementing top-level capabilities and technologies
- Gaining long term flexibility
- Flexibility of solutions and deployment
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Q: I already have people who can work for me. How can VIT be more cost effective?
A: Outsourcing business functions to VIT would allow you to capitalize on our previous experience with other companies and on our technical expertise. You will be saved from building up your own infrastructure to handle these obligations. It is our experience that you can outsource many of these tasks for a fraction of what it would cost an entity to create the infrastructure itself. That is in addition to the intangible benefits you would gain from our staff of professionals. With us on board, you would have at your disposal experienced professionals to help you with your high-level planning and transactions.
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Q: Which outsourcing services are appropriate for my company?
A: The appropriateness of any outsourcing services requires thorough understanding of your business. We would do this by conducting an analysis of your potential outsourcing needs by leveraging our knowledge of and experience with companies at similar stages of development as your own. Based on this analysis, we would then design and recommend a customized suite of services to meet your outsourcing needs.
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Q: Does it mean that I loose control over my business when I involve third parties to handle my business processes?
A: No, change of mindset is extremely essential when you decide to outsource. Outsourcing enables more control over current business functions and allows you to concentrate on more critical functions. The control should be need based – There is no need to control something where the cost of control itself is higher than the cost of not controlling it at all!
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Q: How will I access my business information?
A: VIT offers full access to your data. We maintain strict controls regarding access to the applications, network, servers, and databases. Only authorized VIT staff and your designated employees will have access to your data.
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If you need additional assistance, please contact our Client Service Department at 803.547.8720 or custserv@vimagetech.com
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