During the pandemic, business process outsourcing (BPO) companies have kept the economy thriving. These BPO services have helped companies remain operational while employees work from home, respond to an increasingly volatile market, and cut costs during the current recession.
Even though a considerable number of offices remain closed throughout the U.S., businesses of all sizes have partnered with efficient outsourced document management companies as a means to access key documents and streamline paper-based business processes while their employees work remotely and in the office. Whether it’s mortgage companies trying to stay on top of a surge of new applications or a healthcare organization needing remote access to accounts payable while treating an increased number of patients, outsourced services keep some of the U.S.’ largest companies operating efficiently through this challenging time, while digitally transforming them for the future.
What is Business Process Outsourcing?
Business process outsourcing (BPO) is when a company utilizes the services of an outside organization or supplier to carry out specific business processes. MetaSource partners with mid-to-large size companies to help them throughout their digital transformation path and ensure business continuity. By providing their partners with digital mailrooms, cloud software, and workflow automation solutions, companies can easily access and manage a high volume of documents such as invoices, claims, applications, grievances, and all other correspondence in whatever format it is received.
Why Is It Important to Partner with a BPO Company Today?
Many companies suffered financially during the pandemic with stay-at-home orders. It was impossible for them to continue operating without access to the paper-based documents piling up in mailrooms and stored away somewhere in a filing cabinet in unmanned offices. This is why organizations such as MetaSource were designated essential service providers very early in the pandemic, because many businesses–including hospitals–wouldn’t have been able to function without outsourced services.
According to a recent study, 59% of business executives said they rely on business process outsourcing to reduce their operational costs. Companies across the U.S. that were struggling to transition into remote work are able to optimize their business processes with MetaSource.
Once the pandemic is over, many companies will likely continue to retain remote employees and still need a way to remotely and securely access important business documents. Our partnership makes it even easier for mortgage, healthcare, insurance, and financial services companies to access their digitized files from anywhere, upgrade their data security, and more quickly process incoming documents.
How a National Footprint of Mailroom Facilities Can Help Businesses
It happened again. You were expecting a new document to come in a week ago and now you’re in a panic trying to get it processed. The biggest problem is that your client needed it three days ago and now they’re not happy. A recent McKinsey study found that businesses with great customer satisfaction have 30% higher profitability compared to their competitors who offer poor customer service.
COVID-19 didn’t just impact your business workflow. Since post offices across the country are slower, your relationship with clients is affected and you have to swiftly make up for delays in the post by processing documents in a hurry. Luckily, MetaSource has mailroom processing facilities across the U.S., including New York, California, Texas, Pennsylvania, Arizona, Massachusetts, Colorado, and Utah to quickly get your documents in the right hands, keeping processing times low and customers happy..
What You Should Look for in a BPO Partner
Historically, fraud increases considerably during turbulent times. The COVID-19 pandemic has been no different. A 2020 study on fraud committed by both internal and external perpetrators at companies across 99 territories found the total profit losses amounted to $42 billion. When it comes to finding the right BPO company to work with, you want to make sure your files are in the hands of a company that prioritizes document and data security. When a BPO service provider like MetaSource is SOC 2 Type 2 certified, you can rest assured they go through a rigorous third-party audit every year to ensure they have processes in place to protect your business information. Make sure your BPO partner is also compliant with other laws such as HIPAA, GDPR, CCPA, SHIELD Act, or any data protection laws.
What MetaSource Brings to the Table
Ready to increase your productivity and improve customer relationships? MetaSource’s document management software and BPO services help streamline your processes, automate your workflow, and eliminate inefficiencies that keep your business from being as productive as it can be. By partnering with MetaSource, you can have easy remote access to your data, eliminate error-prone manual tasks, and enable your staff to focus on core activities. MetaSource serves a range of industries with their digital transformation such as mortgage, financial, insurance, and healthcare in a variety of business applications including accounts payable and human resources.
To learn more about MetaSource’s services, contact us or download our whitepaper on digital transformation to learn more about the three key steps in updating your business processes and more.