Ensuring Data Security For Insurance Process Outsourcing Projects

It is certainly true that achieving critical benefits such as cost savings, efficiency improvements, accuracy optimization and customer satisfaction is easier with insurance process outsourcing. However, it is advisable that insurance carriers and TPAs still take precautions because most insurance process outsourcing projects involve transfer of confidential data and information on a daily basis. Here's how both insurance carriers and insurance process outsourcing firms can work together to ensure optimal security of confidential data and information.

New Technology Deployments

Most of the insurance process outsourcing projects require a great deal of manual data entry and data processing. Not all of it can be automated, but still insurance process outsourcing firms should try to derive maximum benefits from new technology deployments. With easy availability of advanced IT tools and systems, such deployments should not be a problem for insurance process outsourcing firms. New technology deployments will significantly reduce manual interference, thereby minimizing the risks associated with data thefts and other security risks.

Installing Tamper-proof Tracking & Log Systems

Most of the insurance process outsourcing projects involve heavy use of online systems and technologies, not all of which can be classified as 100% safe. To counter both internal and external online threats, insurance process outsourcing firms need to deploy fail-safe tracking & log systems on the main network server and on individual work stations. Such deployments will help keep track of all files accessed, sent and received, and log the same on secure servers.

Creating Multiple Data Backup Options

Automated IT tools and systems, as used in insurance process outsourcing projects, are certainly fast and accurate. However, since they are also prone to problems created by hardware failure and software bugs, it would help if multiple data back-up options are created. Critical data and information, if lost, will hamper insurance process outsourcing operations, something that needs to be avoided.

If optimal security is to be achieved, then installing these systems should be given top priority by insurance process outsourcing firms. Worldwide, security threats are increasing at an alarming rate and it would help if proactive measures are introduced by insurance process outsourcing firms.

Technology Helps Data Management Service Outsourcing Firms Provide Efficient Services

For over two decades now, the data management service outsourcing industry has been consistently providing high-quality data entry services to a wide variety of businesses. It might appear that the industry has some closely guarded secret formula that helps it provide unmatched data entry services, but that in reality is not the case. It is also not entirely true that the success of the data management service outsourcing industry is solely because of natural advantages such as a huge number of industry ready professionals with English proficiency and affordable human resource procurement rates. These factors do help, but if we dig deeper, it will become clear that these are not the only ones that allow data management service outsourcing firms to provide world class data entry services to their clients.

One such contributor that often fails to share the spotlight, but still plays an important part, is technology. New technology implementations have become quite commonplace in the data management industry, something that explains the improved performance of data management service outsourcing firms. Technology helps in two different ways. First, it significantly reduces the dependence on human resources, something that helps reduce manpower procurement and management costs. It also helps provide the right motivation to data entry professionals since technology can be used for handling mundane and repetitive tasks whereas critical tasks can be assigned to data entry professionals.

Technology helps also because it is simply a lot more efficient and accurate than us humans. Using technology to their advantage, data management service outsourcing firms have been able to make significant improvements in their efficiency and accuracy levels. Something like this automatically improves the quality of data entry services, a prerequisite for meeting high-end needs and requirements of clients. Technology can thus be labeled as one of the main factors that is helping data management service outsourcing firms achieve the best possible results for their clients.

Importance Of IT Implementations In Data Entry Services Outsourcing

Information Technology (IT) is known to significantly reduce business risks, especially for dynamic sectors such as data entry services outsourcing. That's because IT implementations provide data entry services outsourcing firms the expertise that is required for delivering highly efficient and accurate data entry services to clients. It also makes it easier for data entry services outsourcing providers to reduce operational costs. The overall human resource procurement and management costs get reduced significantly when advanced IT tools and systems are used for providing data entry services.

Today, it is good to see that IT implementations have become the norm in the data entry services outsourcing industry. Most of the successful data entry services outsourcing firms are well aware that adopting technology helps cut unnecessary costs involved in employing more labor and also save time, which can then be used for other productive purposes.

The applicability of using IT in the data entry services outsourcing industry lies in the very fact of cutting operational costs in such a manner that it does not adversely affect the quality and accuracy of rendered data entry services. Of course, making use of IT certainly does not mean that there wont be any problems or issues. The process of implementing advanced IT tools and systems can also create problems, but that should not be taken as a deterrent because the benefits that are potentially available after successful implementations are just too valuable to ignore.

However, data entry services outsourcing firms should not take things lightly because even small IT implementation errors can create huge problems. For example, a client company that makes use of online methods for getting back to the customers may just become helpless if deployed IT systems crash or develop too many bugs.

For getting maximum benefits from IT implementations, data entry services outsourcing firms should thus invest in multiple IT backup systems. It will allow them to successfully cope with all types unforeseen contingencies and ensure the consistent flow of accurate and reliable data entry services to client businesses.

Choosing The Right Data Management Service Outsourcing Provider

Excluding businesses that might have had a bad experience, there are not many that might be willing to give negative feedback about data management service outsourcing. It's a possibility that even businesses with a bad experience might tell you that their failures were not because of any inherent flaws in data management service outsourcing, but mostly because of their inability to choose the right data management service outsourcing provider.
So, what defines the right data management services outsourcing provider and how can businesses ensure that they are choosing the right one? Well to start with, businesses need to contact as many outsourcing service providers as possible and request proposal from each one. Each of these offers then need to be analyzed to know whether or not they meet the basic needs and requirements of the business.

Businesses can shortlist around 5 to 10 suitable offers and then start the verification process, which would involve getting feedback directly from clients of the outsourcing service provider, physical verification of offered infrastructure, and getting references from reliable sources. The data management service outsourcing provider that scores the most in these basic tests can then be chosen for more formal business engagements.

For best results, it is advisable that businesses start with small, pilot projects even when they might be quite sure that they have chosen the right data management service outsourcing provider. Starting with pilot projects will also help the service provider to better understand the intricacies of the clients business and the targeted data management service outsourcing project.

Customer Service Outsourcing Gains Can Be Increased Using Upselling

The concept of upselling is backed by the premise that a call from a customer always has some potential to be utilized as a selling and marketing opportunity. As a matter of fact, it actually works better because in these cases, its the buyer who is contacting the seller and not the other way around, which is usually the norm. However, it is necessary that the primary objective of customer service outsourcing projects, i.e. customer satisfaction, is not overlooked because if that happens, upselling would turn out to be a pipe dream. If a customer is not satisfied with basic customer services, it's highly unlikely that he will have the patience to listen to upselling talk.

In order to increase customer service outsourcing gains through upselling, it is necessary that the right training be provided to customer service outsourcing professionals. It is also necessary that incentive programs be tweaked to ensure that they do not unnecessarily favor upselling skills of customer service outsourcing professionals. If that happens, more customer service agents will start focusing on upselling, something that is bound to affect customer satisfaction in an adverse manner. Incentive programs need to be balanced, especially if customer service outsourcing gains are to be maximized without adversely affecting customer satisfaction.

Telemarketing Services Outsourcing Is Crucial For Promoting New Product Launches

With more businesses worldwide making their preferences felt for telemarketing services outsourcing, there is certainly no denying its effectiveness. However, not many are aware that apart from generating high-quality leads, telemarketing services outsourcing also plays an important role during new product and service launches. This is especially true when the business that is launching the product or service is a start-up firm or a SME. These businesses entities are usually unable to match the financial muscle of large businesses and are always on the lookout for cost-effective solutions and strategies that can help them with their new product or service launch.

Choosing telemarketing services outsourcing helps because it allows them to target potential customers with high precision. It eliminates the need for full-fledged advertising and marketing campaigns costing millions of dollars, something that start-ups and SMEs can never afford. Through telemarketing services outsourcing, start-ups and SMEs are thus able to market their new products and services in the most cost-effective manner and also create the desired space for them in the targeted market.

However, a lot depends on the expertise offered by the telemarketing services outsourcing firm and that's why it's necessary that businesses select the right outsourcing service provider. Unlocking the full potential of telemarketing services outsourcing will then become a lot easier.

Outbound Call Center Services Outsourcing – Necessary For Quality Lead Generation

The need to consistently add new customers is applicable for all businesses and although it is difficult, it is not something that is impossible. Outbound call center services outsourcing provides an easy way out, especially for businesses that are looking for cost-effective solutions.

When it comes to generating quality business leads at affordable rates, nothing surpasses the effectiveness of outbound call center services outsourcing. One of the reasons may be the locational advantages available to offshore outsourcing service providers, but that is quite irrelevant because what ultimately matters is whether or not quality leads are being generated.

Outsourcing service providers have been quite successful in that area, apparently because most of them have the best marketing skill sets and talent at their disposal. The success of outbound call center services outsourcing projects depends a lot on how well customers at the other end respond to the services and products offered. Getting the desired response from customers is something that can only be achieved by skilled and talented call center agents.

Outbound call center services outsourcing has become a necessity also because of the rising competition that is making difficult for businesses to make ends meet. Outbound call center services outsourcing providers can hope for a bright future since market competition is not something that is expected to decline in the years to come.

Hiring Financial Process Outsourcing Services – Some Useful Tips

Having understood the benefits of financial process outsourcing, you may have made up your mind for hiring financial process outsourcing services. However, since there are quite a few variables that can prevent you from realizing potential benefits, we recommend you follow prescribed guidelines and avoid taking unnecessary risks. To help you, we have provided some useful tips that you can use while you are in the process of hiring financial process outsourcing services.

The first thing we would recommend is that you take your time while choosing a financial process outsourcing services partner. Don't make a hasty decision even if someone offers you the lowest service rates because finance is a critical organizational function and you just cannot afford to make mistakes. Looking for a financial process outsourcing services provider that offers the perfect combination of cost savings and quality and efficiency improvements should be a priority.

Once you are sure about the expertise of your financial process outsourcing services partner, you need to communicate your goals and objectives in very clear terms. Being ambiguous will never help since your outsourcing partner will find it quite difficult to achieve targets in the absence of predetermined goals and objectives.

Last but not the least, you should constantly monitor progress and performance so that you can take appropriate action before things go terribly wrong. Sincerely follow these recommendations and soon you will be able to unlock the full potential of financial process outsourcing services.

How Market Research Services Outsourcing Can Help Grab A Larger Marketshare

Ours can be described as the age of specialization since almost everything today requires us to have a certain specialization or get help from others who might have that required specialization. Businesses are not all that different since very often they too feel the need for hiring specialized skill sets and talents. Presently, one such specialization that most businesses are looking for is market research services outsourcing.

Once an insignificant back office process, market research has now acquired immense importance and businesses today just can't hope to do without it. It's because market research services outsourcing projects are managed by highly qualified and trained professionals who know quite well how to collect the most valuable information about potential markets and customers. This in turn helps businesses to design and develop new products and services in line with customers needs and expectations.

When customer needs and expectations are accounted for while designing and developing new products and services, it automatically increases the probability of success of the new product launch in the targeted market. The more the number of customers, the easier it will become for businesses to grab a larger marketshare. That's one of the most important objectives achieved by market research services outsourcing firms on behalf of their clients. It is no wonder then that more and more businesses are now choosing market research services outsourcing for achieving their desired goals and objectives.

Offshore BPO Services – Current Trends

Due to their inherent ability to reduce costs, increase efficiency and improve the overall quality of products and services, offshore BPO services have become one of the most sought after, the world over. The increasing demand for these services has also led to the mushrooming of service providers that now come from BRIC countries (Brazil, Russia, India, China) and other relatively smaller countries such as the Philippines, Indonesia, Sri Lanka etc. Just like in any other industry, each of these providers are trying to outsmart each other by providing higher quality services and more affordable rates. Rising oil prices and the aftereffects of the subprime crisis may be making things a bit difficult for outsourcing firms, but the morale is still high and no one is in a mood to call it quits. Despite the ever-rising competitive pressures, the offshore BPO services industry is still growing at a rapid pace, something that is enough to prove the same.

To tackle unpredictable and uncontrollable factors such as oil price hikes and credit crunch situations, most of the offshore BPO service providers are upgrading their infrastructure and implementing plans for meeting unforeseen contingencies. Quality, efficiency and cost-effectiveness have always been the mainstays of the outsourcing BPO services industry and these are the main factors that are helping the industry to successfully tackle new demands and challenges.

Offshore BPO Services – Providing Multinationals The Competitive Edge

There was a time when our multinationals were just competing with each other, since there were very few outside challengers. However, things have changed dramatically over the years and our multinationals are now facing competitive pressures from virtually all directions, continents and countries. However, they were quick to discover something very unique that is presently helping multinationals to sustain their success. Offshore BPO services is the name of that discovery and till date, almost all multinationals have benefited from it in some way or another. Realizing the benefits, even the Small and Medium Enterprises (SMEs) have recently started hiring offshore BPO services.

Offshore outsourcing helps because it reduces operational costs, allowing businesses to offer affordable products and services to customers. Since quality is not compromised during cost reduction exercises, it provides that much needed competitive edge to businesses, which ultimately allows them to stay ahead in the competitive race. It is not surprising then to learn that more and more multinationals are now hiring offshore BPO services with renewed vigor to ensure both their success and survival.

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Offshore Outsourcing – What's In Store?

Well, it's a bit difficult to answer that, obviously due to the dynamic nature of the offshore outsourcing services industry. However, some basic assumptions can still be made, based on emerging trends and past records. As far as the outsourcing industry in India is concerned, it is currently doing quite well and is expected to deliver proportionately the same level of performance in the future as well. However, with news reports indicating that countries such as China, Indonesia, Malaysia, Brazil and others are also taking to outsourcing in a big way, it looks as if the outsourcing industry in India might have to work harder, especially if competencies are to be achieved and sustained.
The offshore outsourcing industry in India is however not getting overtly concerned because it understands quite well that world-class skills, systems, processes and infrastructure that took years to develop cannot just be copied overnight. For developing similar competencies, any other country will require the same amount of time, a gap that will be enough for the outsourcing industry in India to achieve newer milestones, leaving competitors way behind. This is why instead of getting hyper over sensational news reports, the offshore outsourcing industry in India continues to do what it does best, i.e. deliver cost savings, efficiency improvements, and desired levels of customer satisfaction and quality

How KPOs can sustain their competitive advantage

The KPO industry is certainly creating a rage in the worldwide business market and India too is waking up to the benefits that KPOs have to offer. Lets admit it that KPOs are much bigger and definitely better than our traditional BPOs and this becomes more than evident from the fact that many Indian BPO companies are singing to the KPO tune with the intention of earning a better revenue and that too with immediate results. It is quite a surprising fact that the KPO industry, although just an emerging one, is already displaying the behaviour of a full-fledged client based and a profit making industry.

One major move that the KPO industry is taking with respect to gaining an advantage over other industries is that KPO companies hire the best that the IITs and the IIMs have to offer. This strategy ensures that they get the best knowledgeable minds that the country has to offer. Asking questions like what can your KPO company do in order to set it apart from other competition should be the first step towards preparing and planning towards sustaining and ultimately gaining a competitive advantage.

Bridgestone Europe rolls to Indian firm for SAP provision

The European unit of Bridgestone Corp. plans to outsource support and maintenance of its SAP ERP system to an offshore firm in India.
Bridgestone Europe will turn over management of its SAP AG applications to Satyam Computer Services Ltd. in Hyderabad, India.

Joe O'Neill, IT director at the Brussels-based unit said, “The three year agreement will free up resources to focus on new requests and new demands.” On asking him about the Bridgestone Europe business operations, he added, “Whether SAP problems are handled in Brussels or offshore doesn't really matter to the business user, provided he gets a resolution.”
Bridgestone didn't disclose an estimated cost savings from the offshore deal, nor would O'Neill discuss the new projects that internal SAP support staffers will work on. But he said that some of the expected benefits would arise from the company's ability to direct more of its internal resources toward other IT needs.
Bridgestone has six manufacturing plants, a technical center and numerous sales and distribution facilities throughout Europe; its European ERP system supports about 2,000 end users.

Prasad Unawane

Offshore BPO Services: Accenture to speed up internal functions in India

Offshore BPO Services in India are only getting bigger. One such leading example of services is Accenture – a consultancy and Offshoring Company that announced on Wednesday, that India is most active developing market, playing a key role in its global delivery model and network.

The expansion had been so rapid that the software company doubled the size of their workforce to 11,000 in the past year said Mr. Joe W Forehand, chairman of Accenture, who is on a visit to India.
The company’s Indian employees today constitute 10% of the 1,06,000 workforce worldwide and “we might move in internal functions to India, like HR, knowledge management capabilities and financials. We continue to see demand and will leverage the talented people here to expand our operations,” he added.

Apart from India, which is the most aggressively growing, centers in the Philippines and China are growing rapidly. Accenture has most of its Offshore services in various countries. “Though the growth there is not as aggressive as India,” said Mr. Forehand.
He also said, “The areas where we enter for making deals we get only 2% competition and we bag around 87% of them. These deals are SAP and Oracle-based solutions and are between $1million and $25 million in size.”

Last year, Accenture earned revenues of $13.7 billion out of which 35% was contributed by off shoring and the rest by consultancy.

According to Mr. Stephen Rohlder, COO of Accenture, “The growth in Apac region was 11%, whereas in the US it was 23% in the first quarter this year, but the main growth came from Japan and Australia.”

Priyanka. S

Offshore BPO Services – India has great advantage in IT off shoring: Premji

Despite challenges from China, the Philippines and Eastern Europe, India still has an overwhelming advantage in IT off shoring, according to Wipro chairman Azim Premji.
"Areas such as China, Eastern Europe and the Philippines are becoming major players in IT off shoring but India still has an overwhelming advantage because of the support of the Government and the country's huge talent pool," Premji said in an recent interview.

Wipro benefits from being able to recruit from the top 50,000 engineering graduates turned out from Indian universities and colleges each year, he said.
"In a land of so much poverty, IT jobs are very sought after. Software has so much credibility and visibility that the first choice of a village parent is for their child to be an engineer. We get the choice of the best of the best."

"The Western world is looking for the developing world to liberalize all the time, to stop restrictive practices and then it wants to put its own restrictions on business coming out of the developing world. If the West wants emerging markets to open up, they have to be open," he said.

Wipro is in the business of installing, running and sorting out organizations' IT systems. Some of their major clients include Prudential, Friends Provident, National Grid Transco, Nokia, Microsoft and the Scottish Parliament.

Priyanka. S

Offshore BPO Services – Spotlight on ‘Knowledge based Outsourcing’

The Indian BPO sector plans to strike it rich in a new breed of high-end knowledge-based outsourcing as global corporations move process like data and intellectual property researches to Offshore locations.

Scope e-Knowledge Center is one such company, which said it would expand its global footprint and increase its Offshore BPO workforce.
"Knowledge Process Outsourcing is the next big opportunity. More and more global corporations will be outsourcing processes like data and intellectual property research works. In view of this emerging opportunity, we have decided to enhance our global presence and also the manpower," its director and CEO R Sivadas said.

"We will double our manpower in London and Brussels, which is acting as a hub for the European market," he added.
Scope is also in discussion with a few publishing firms in Germany and hopes to strike a deal in the next couple of months. It is already doing an Offshore project for a US company in Germany.

This new breed of knowledge process outsourcing (KPO) comprises companies based services providing higher-end Offshore BPO services in the areas of research and analytical to overseas clients.
These include basic data research, integration and management, market research, equity research, engineering design, animation and simulation, medical content and services, remote education and publishing.

According to the National Association of Software and Service Companies (Nasscom), the total market size of KPO business in India may rise to a staggering $15.5 billion, up from $1.2 billion now.
"Although very few Indian companies are working in this space now, KPO will be one of the major segments of the outsourcing business in terms of creation of new jobs and generation of billions of dollars in business."

The Chennai-headquartered Scope e-Knowledge is a leading Indian KPO firm that has expertise in creating valuable intellectual property for clients across the industry verticals like healthcare, pharmaceuticals and life sciences.

The company, with Offshore offices in New York, Orlando, Chicago, London and Brussels, has over a dozen clients in the US and European markets. The US market accounts for 60 percent of its annual revenue.

Priyanka.S

CBC Technologies to promote Offshore biz

The Commonwealth Business Council has launched a new service - CBC Technologies – to promote Offshoreservices related to technology.

"The UK is seen as a gateway to Europe for many businesses. Over 400 Indian firms have set up operations in the UK in recent years and the Commonwealth comprises 54 nations, some with excellent capabilities to provide remote services to UK customers," Director General of the Commonwealth Business Council, Dr Mohan Kaul, said.

"CBC Technologies service is an important step in the development of CBC and it will allow the CBC to offer a world-class service in the field of offshore outsourcing advice and facilitation," he said.

"CBC has a completely different value proposition to the myriad of consultants offering outsourcing advice. We are entirely independent," said Managing Director of CBC Technologies, Anoop Singh.

"We have an excellent relationship with the 54 governments of the Commonwealth and most leading global corporations through our membership and we will also focus attention on the large Small and Medium Entrepreneur sector. They are the companies who need most help at present and we intend to offer a world-class service to the smaller players," Singh said.
The launch coincided with the one-day seminar jointly hosted by India Business Forum and Commonwealth Business Council here yesterday.

"India is leading the world in remote BPO services. This debate has moved far beyond the tired argument about call centers and jobs vanishing to India," said Chairman of the India Business Forum, Mahesh Ramachandran.

Priyanka.S

Offshore BPO Services : Focus on Offshore financial services !!

Now when you think of BPOs think commodities, India is ready to emerge as an Offshore BPO service provider for commodity financial services, in the form of back-office processes to foreign banks. It is now flooded with calls to manage offshore demat commodity accounts and warehouse receipts sitting right here.

Overseas banks from countries like Ivory Coast, Zambia, Nigeria, South Africa, Russia and Bulgaria are queuing up for Offshore BPO services that include efficient management of accounts and commodity balances. This makes for an excellent business opportunity for apex service providers like National Securities Depository and Central Depository Services of India.

“Discussions are now on with several interested parties. The potential of BPO in commodity financial services is simply huge,” said PH Ravikumar of NCDEX.
NCDEX has already worked successfully to network 50 accredited warehouses and enabled holding of commodity balances in electronic form and dematerialized the warehouse receipt in partnership with NSDL.

Priyanka.S