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Knowledge Base

Definition

What is a knowledge base?

A knowledge base is a system of related information. Promoting the gathering, organization, and retrieval of data about a service or a product FAQS, tips, guidelines, and rules or standards in an organization. It can also support computer system information retrieval on various matters. These data are readily available – anytime & anywhere to provide employees and customers with easy access to the information.

With modern technology, there’s almost a limitless availability of knowledge base information on the internet. Consumers demand not only effectiveness but efficiency, with just a point and a click, people can already know what’s the benefit of a product, know the list of cool places to visit, even the steps on how to cook a perfect dinner. Additionally, a knowledge base can be used by companies to easily keep track of all work-related information about the employee.

Knowledge based outsourcing
Knowledge based outsourcing

Knowledge-based outsourcing

There is a need for users – both internal (ie. agents), and external (customers) to effortlessly access information. Both have the primary goal of data-sharing so that information is made readily available for satisfying user query. Businesses have improved over the years through better management and usage of a knowledge base system.

Outsource Accelerator specializes in helping small & medium sized enterprises (SMEs), with 2-500 employees, typically based in the high-cost English-speaking world. We are the experts in transforming these businesses with outsourcing.

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Interactive voice response meaning

Interactive voice response meaning

Interactive Voice Response (IVR) is a programmed telephone technology set to interact with callers. It has automated features that can reroute callers to the exact recipients. 

It is also capable of receiving touch-based or touch-tone keypad selection as well as voice command that enables the speaker to voice out any commands that can prompt the Interactive Voice Response or (IVR) to respond such as callback, fax tone, voice mail, and any other methods of contacting. 

Interactive Voice Response (IVR) is integrated with a database that allows callers to have access to the system and is efficient for the callers to choose menus without bothering an actual receptionist.

How do IVRs process calls?

IVRs are utilized by call centers to route the calls on specific departments that are chosen by the caller such as the technical team, billing departments, or simply a human operator.

To attract the customer’s attention, IVRs are also used to give business information like the latest promos and updates or give reminders or instructions — such as telling the caller that the system will record the call.

Additionally, IVRs are applied to the whole operation of a contact center to allow self-service options to callers. It offers solutions to simple customer queries that can be easily solved. This enables agents to focus on more complex issues.

Some processes that IVRs can now do are the following:

Look up basic information  Access the caller’s account Inquire about account balance Set PIN numbers or change passwords Fill up forms and surveys Make small payments or transfer funds

IVR call center

Having an Interactive Voice Response (IVR) in an organization can make things easier. One thing to consider is the time-efficiency, wherein an organization can save up a lot of time without rerouting callers to any inappropriate recipients. 

Few selections are available for the caller to choose from, which will also avoid confusion in both parties – it results in a faster transaction. A time-efficient system that can help an organization be productive and effective.

Harnessing the power of technology gives businesses more leverage in their industry. Getting the most advantages of having an Interactive Voice Response (IVR) is part of proven solutions for your business.

Gaining access to modern A-grade facilities can be utilized for the betterment of your business’ ongoing and future ventures.

Outsource Accelerator specializes in helping small & medium-sized enterprises (SMEs), with 2-500 employees, typically based in the high-cost English-speaking world. We are the experts in transforming these businesses with outsourcing.

What is a Learning Management System (LMS)?

What is a learning management system?

Learning Management System (LMS) refers to an incredibly powerful software tool used to support learning by providing a room where resources can be stored and arranged, and where assessments can be given. Learners and Instructors can interact using blogs and forums, looking to improve performance and retention. Learning Management System put software that creates, manages, and delivers e-learning programs.

LMS, in its most common form, consists of a server and a user interface. The former does the functions of creating, managing, and delivering e-learning courses, while the latter runs inside your browser as a web portal used by administrators, teachers, and students to access the content.

LMS and outsourcing

LMS accomplishes facilitation of online learning and availability of digital learning tools straight to learners from different settings. LMS has also made a built-in customizable feature to assess learners progress real-time, and for instructors to monitor and communicate the effectiveness of learning. The majority of the LMSs today focus on the corporate market. One important feature of a Learning Management System is trying to create streamlined communication between learners and instructors.

What is Knowledge Process Outsourcing (KPO)?

What is knowledge process outsourcing?

Knowledge process outsourcing (KPO) refers to the process of outsourcing experts and services in a particular field to fill in positions that usually require highly specialized skills.

The scope of KPO includes accounting, banking and finance, insurance market services, preparation of accounts, healthcare services, computer-aided simulation, animation, design, content creation, engineering design and development, and other functional processes.

The difference between KPO vs BPO

Business process outsourcing (BPO) deals more with delegating non-core business operations to other countries. BPO services are comprised of both front- and back-office functions necessary to keep companies running efficiently.

Knowledge process outsourcing (KPO), meanwhile, involves hiring offshore teams that can handle more highly-specialized work. It is used to provide more in-depth expertise and analysis to its clients. Some of the common KPO services include market research and data analytics.

The only distinguishing difference between KPO and BPO is in the services they cover. However, both types of outsourced services provide high-quality teams and performance at an affordable rate.

Benefits of KPO

Businesses use KPO to hire teams for specialized fields not found in-house. At times, most knowledge-based processes are expensive to set up onshore with the logistics they require. Small businesses would find this impractical should they want to grow their services.

Knowledge process outsourcing can provide cost-cutting measures, savings, and effective processes. Through KPO, businesses are given the luxury to launch a product and service faster.

More so, KPO helps companies get the following benefits.

Tap more markets. By outsourcing their knowledge processes, organizations can tap into and learn about new markets easier. Gain more actionable insights. Delegating complex processes offshore helps in gaining more insights on how they can make their products and services better. Focus on improving business strategy. Core teams can focus more on improving their business strategies since more complex tasks are outsourced to experts offshore. KPO services

KPOs help companies in knowledge-based activities that are data-driven and encompass the method of gathering, managing, analyzing, and delivering objective insights into businesses.

A wide range of KPO solutions is crucial to meet the requirements of diverse industry segments, such as:

Financial consulting Research and development Management consulting Technical analysis Investments Legal Medical & healthcare Data analytics and management

Knowledge process outsourcing in the Philippines

KPO addresses the shortage of skilled laborers and provides an increase of specialized knowledge and expertise within the organization, as well as advanced analytical and technical skills aiming for the implementation of active processes.

This then translates to higher-end service at a lower cost and benefits company revenue.

Outsource Accelerator is the most trusted source for independent information & advisory for business process outsourcing (BPO). We have over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 2,500 BPOs…  all designed to make it easier for clients to learn about and engage with knowledge process outsourcing.

What is What is business process outsourcing?

What is Business Process Outsourcing BPO?

Business Process Outsourcing (BPO) is the delegation of business processes to an external service provider to a nearby or farther location. BPO uses various technology-enabled services to optimize the delivery of services.

Some of the usual outsourced business functions are the following.

Payroll Accounting Human resources Customer service Sales Marketing

In the case of content providers, these could mean hiring writers, remote editors, or virtual assistants.

BPO speeds up processes and enhances efficiency. Companies that outsource some of their business processes use their time on core services and competencies.

With this shift in focus, companies improve their current processes which may result in improved customer satisfaction. BPO helps companies divert their resources to more critical business strategies.

Often, companies find it impractical to hire a full-time position in-house because of the cost associated with doing so. Outsourcing services can also help them save costs and resources in hiring suitable employees.

How does Business Process Outsourcing work?

Business process outsourcing happens when a business taps a third-party service provider to operate some of its internal processes. Such ‘processes’ include customer service, accounting and finance, or sales.

It is different from hiring an agency to do specific tasks, as the outsourcing provider (BPO) is more concerned with the ongoing production of labour-intensive tasks, instead of the higher-level strategy and guidance.

Now, business process outsourcing has broadened and is more akin to staff augmentation, or staff leasing.

What are the benefits of business process outsourcing?

There are many benefits to outsourcing, as well as some downsides and risks. The common benefits include:

Cost savings

Companies can enjoy savings of up to 70% by leveraging the salaries and costs in countries such as the Philippines and India.

Global market

Businesses get to access a bigger pool of talent that can fit their requirements. They can have better options in hiring employees since they are not limited to what is available in their home countries.

Global presence

At the same time, business process outsourcing opens clients to global trade opportunities. They can establish their global presence and expand more easily to other locations since they already have operations in the area.

Flexible workforce

BPO reduces internal local compliance obligations including providing additional office spaces to employees. Instead, organizations can hold their business operations on a remote setup, most usually having their teams in an office provided by the BPO firm.

Leverage skill

Companies cannot always do everything on their own. BPO enables them to leverage the skills of other specialist companies on more complex tasks such as accounting and IT.

Focus

Lastly, BPO enables organizations to focus on their core business functions. This is since most of their non-core business operations are done with the help of a reliable service provider.

Business process outsourcing examples

The business process outsourcing sector is a vast industry, generating over $200bn annually, and employing millions of people worldwide.

BPO can be seen in different forms and contexts, from hiring single staff to getting an offshore team. Some examples of BPO include:

Big enterprise

Facebook and Uber outsource many of their operational functions, including content moderation for Facebook, and customer service for Uber

Medium-size businesses

A medium business with 50-500 staff might outsource the labour-intensive accounting and finance functions to a team in the Philippines.

Small business and entrepreneur

It is common for small business owners to have a Virtual Assistant (VA) working for them full time and remotely from the Philippines.

What are the different types of BPO?

The type of business process outsourcing can be characterised by their specialisation, location, and size.

Generalist or specialist BPOs

Business process outsourcing is in the human resources and professional services sector. However, their services extend across all industries. The majority of BPOs are generalists, in that they offer a full range of professional services.

Meanwhile, some specialise in certain verticals such as the following.

Legal process outsourcing

Legal process outsourcing deals more with delegating legal processes and compliances to legal firms in another area.

Knowledge process outsourcing

Meanwhile, knowledge process outsourcing enables companies to outsource knowledge-related work including research and development, innovation, and creatives.

Location

Business process outsourcing typically operates from developing nations such as the Philippines, India, and Colombia. They typically have cheaper cost-of-living and bigger populations. Different locations offer different advantages.

Size of BPO

The bigger BPOs employ more than 250,000 people. They are huge, global operations. Medium-sized BPOs range from 500-5,000 staff and offer a full range of services. The smaller BPOs might have 1-500 people.

Functions of business process outsourcing

Collectively, business process outsourcing provides any kind of staffing solution. Common functions of BPO include:

Finance and accounting

Outsourced finance and accounting services help businesses manage their books, monitor cash flow, and keep up with corporate income tax compliances without fuss.

Healthcare

Healthcare outsourcing, meanwhile, organizes various back- and front-end functions done for the healthcare and insurance industries.

Creative and content

Creative services outsourcing covers everything from post-production of Hollywood movies to newspaper and website content.

Tech, IT and development

IT outsourcing involves delegating network management, web and app development, and cybersecurity protection to IT firms in different countries.

Sales & customer support

Some BPO providers specialize in sales and customer support for pre- and post-sales transactions. This helps companies meet the expectations and demands of their customers, keeping them satisfied even after their purchase.

Marketing

BPOs and marketing firms can help in ongoing marketing, communication and branding activities for their clients. This helps them attract more suitable leads in a cost-efficient way.

Talent and HR

Businesses can delegate HR, recruitment and compliance to professional employer organizations to maximize recruitment and workforce management.

Administration

Generalist BPOs help organizations accomplish general business administration and operational activities. This includes data entry, appointment setting, and other related functions.

Supply chain management

Lastly, e-commerce stores benefit from outsourcing supply chain management to manage warehouse and delivery processes.

Top BPO companies in the world’s top outsourcing hubs

A wide range of business process outsourcing companies in different parts of the world provide utmost services to their Western and local clients. Many of them even earned recognition by award-giving bodies due to their performance in both their roles and their level of care for the employees.

Check out the top BPO companies in several outsourcing destinations below.

Top BPO companies in the Philippines Top Indian BPO companies Top South African BPO companies Business Process Outsourcing (BPO) services

With the rise of new offshore outsourcing locations, companies can have better options in terms of location and services they can delegate. However, finding a suitable BPO company can be a daunting task to be done on their own.

Good thing advisory services such as Outsource Accelerator is there to help them.

Outsource Accelerator is the most trusted source for independent information & advisory for Business Process Outsourcing (BPO). We have over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 2,500+ BPOs from different locations.

Outsource Accelerator's offerings make it easier for clients to learn about, and engage with, business process outsourcing companies worldwide.

Want to learn more about outsourcing? Check out the Inside Outsourcing book as well as the Inside Outsourcing book review today!

What is Key Performance Indicator (KPI)?

Key Performance Indicator definition

A Key Performance Indicator (KPI) is a critical indicator of a company’s progress in reaching its objectives. It is used by different organizations at different levels to evaluate each process that contributes to the progress of the company and its overall performance.

Critical indicators are categorized into two categories: Quantitative and Qualitative.

Quantitative is based on numerical standards of a goal while qualitative refers to the quality based on physical feelings, tastes, or opinions. 

They are also measured into five types: Input, Process, Output, Outcome, and Project. Since this is an embodiment of a SMART goal, it measures its objectives and individual goals through the methodology and presents it in data form. 

Key Performance Indicator examples

Indicators may fall into different points of measurement: financial metrics, process metrics, customer metrics, and people metrics. For instance, assessment of net profit, cost of goods sold, and the tally of revenue vs. target falls on the financial metrics. 

For people metrics, there’s the average number of employee turnover, training and seminars held for employees, and the number of open positions every quarter. 

Process metrics, meanwhile, measure the number of processes it has for each role over the efficiency of these processes.

KPI by industry

Regardless of whether you call them indicators or measures, KPIs are the most crucial benchmarks for the performance of an organization or industry. Using and measuring the right KPI is a key step in your business’ road to success.

Determining what indicator you want to utilize is the hardest part of performance management. It can be financial, customer-focused, process-focused, and many more.

KPIs vary between different sectors. These industry-specific measures will enable you to analyze your data to know your performance and create concrete decisions for your company.

The BPO sector also has a set of KPIs followed. Supervisors monitor and measure the performance of its employees through the average number of calls in a day, the percentage of call drop rates, call handling time, transfer rate, and the average of issues the agent resolved since the first call.

Outsource Accelerator provides you with the best outsourcing companies in the Philippines, where you can save up to 70% on staffing costs. We have over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 2500 BPOs… all designed to make it easier for clients to learn about, and engage with, outsourcing.

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About OA

Outsource Accelerator is the trusted source of independent information, advisory and expert implementation of Business Process Outsourcing (BPO).

The #1 outsourcing authority

Outsource Accelerator offers the world’s leading aggregator marketplace for outsourcing. It specifically provides the conduit between world-leading outsourcing suppliers and the businesses – clients – across the globe.

The Outsource Accelerator website has over 5,000 articles, 350+ podcast episodes, and a comprehensive directory with 3,000+ BPO companies… all designed to make it easier for clients to learn about – and engage with – outsourcing.

About Derek Gallimore

Derek Gallimore has been in business for 20 years, outsourcing for over eight years, and has been living in Manila (the heart of global outsourcing) since 2014. Derek is the founder and CEO of Outsource Accelerator, and is regarded as a leading expert on all things outsourcing.