General Business

Traits of a Great Outsourcing Company for your Cybersecurity Needs

In a digitally advanced world, companies should consider cybersecurity as a crucial aspect of their business operations. Given the risk of hacking and breaching which can compromise valuable and sensitive company and customer data, employing effective security and risk management solutions is a must.

Moreover, customers value companies that prioritize safeguarding personal information more than those that do not. Multinational  professional services network KPMG, through its survey “Consumer Loss Barometer,” has explored this in different fields of business including financial services, cloud and connected devices, mobile, automotive, and retail. It found out that cybersecurity can be influential in producing more brand loyalty, with some consumers having zero tolerance for any occurrence of breach or mishandling of important and private information that will ultimately lead them to switch brands.

Admittedly, building an in-house cybersecurity team can be expensive because of the high salary grade of these experts coupled with limited access to these talents. On top of that, other operation costs are high because cybersecurity tools and softwares are expensive (i.e. 365, Box, Dropbox, Yammer), not to mention the cost in maintaining a physical office to house your cybersecurity team. That is why outsourcing has become a popular practice among businesses. 

When looking for the right outsourcing company to build a team for you, here are 3 traits that you should look for:

  1. Access to World-class Talent at a Reduced Cost

Hiring a cybersecurity team is expensive because the experts in the field are not only limited but their level of expertise puts them in the top bracket in terms of salary grade. In addition, the training and certifications for cybersecurity and information security are important but costly. Aside from labor cost, operational expenses such as hardware, software licenses, cloud service subscriptions, and maintenance are equally expensive. But with the right outsourcing partner, their A+ recruitment process and access to world-class talent allows them to build a great, high-performing cybersecurity team within 30-45 days. They also have access to certified cybersecurity experts and will curate a competency-based development plan to keep your dedicated team sharp so you won’t need to spend additional training cost giving you a projected operational savings of up to 70%

  1. Guaranteed Compliance and Certification

One of the first things you should consider in an outsourcing company is their access to world-class talent with the required level of skill and expertise in cybersecurity risk management. Since they are handling highly sensitive data, they should also be able to comply with the ethical standards of the industry. These can be reflected in third-party certifications and assessments by hiring people with the any of these certifications and proficiency in:

  • ISO 27001 and 9001 certified
  • GDPR Compliance
  • Certified Ethical Hacker (CEH)
  • CompTIA Security+
  • Certified Information System Security Professional (CISSP)
  • Certified Information Security Manager (CISM)
  • Certified Information Systems Auditor (CISA)
  • NIST Cybersecurity Framework (NCSF)
  • Certified Cloud Security Professional (CCSP)
  • Computer Hacking Forensic Investigator (CHFI)
  • Cisco Certified Network Associate (CCNA) Security

These compliance and certifications mean that if you outsource your cybersecurity team with the right partner, they understand that data security is one of the most crucial elements for a growing business like yours. They also make sure that the team they are building for you are compliant and certified as needed to protect the company. Lastly, they have their own information security to add another layer of protection for their clients. 

  1. Transparent Reporting Practices

Transparency is another important aspect of cybersecurity risk management due to the complexity of the task at hand. Good outsourcing companies have routine analytic and reporting expectations to ensure that data and information are handled properly by its personnel. 

Studies have shown through the years that the “human factor” is the weakest link in cybersecurity. In a study conducted by Kaspersky, it is reported that 46% of cybersecurity hacks and incidents were due to untrained staff and in 40% of businesses around the world, employees were found to hide a security incident when it happens. 

Partner with an outsourcing company that can provide your business a tailored cybersecurity risk management solution based on your unique needs. After all, security is risk-based, which is why no single solution fits all. Also bear in mind that your outsourcing partner should have the capability to scale its services in order to prioritize all aspects of your business. In the long run, this will be convenient when you need to scale your solutions together with your changing business needs.

Bonus: >60 Net Promoter Score

The right outsourcing partner has a Net Promoter Score of >60. This score helps businesses gauge the quality service the outsourcing company is offering. In a way, this represents the primary capabilities and expertise they provide to their clients through result-based surveys on how much satisfied their clients are with the cybersecurity support services they are receiving from their outsourcing partner. It also showcases how well the outsourcing partner is performing in terms of cybersecurity and the client’s overall experience from their service. A High Net Promoter Score results in a sense of security and peace of mind for the client from operation excellence and hitting Key Performance Indicators (KPIs) such as Mean Time to Resolve (team’s response to cyberattacks), Mean Time to Detect (how long it takes your team to become aware of cyberattacks) and overall team productivity.

Lastly, the right outsourcing partner promises for the following:

  • Operational excellence
  • Build a great, high-performing cybersecurity support team specifically designed for your security needs
  • Operational cost savings of up to 70%
  • 90% Mean Time to Detect (MTTD)
  • 90% Mean Time to Resolve (MTTR)
  • 95% team productivity
  • ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing Cybersecurity team of:

  • Cybersecurity Analyst
  • Threat Intelligence Specialist
  • Data Piracy Investigator
  • Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Cybersecurity Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

1 day ago No Comments Views

The Role of Patient Concierge During Surge in Healthcare Demand

Today, business owners recognize the surge in healthcare demand can impose risks in health and business because this overburdened the healthcare system. It also means that if a patient’s inquiries are not managed well, it results in increased frustration and ultimately making them unsatisfied with the healthcare service they’re receiving from your company. Lastly, financial stress can surface and lost productivity from your healthcare team creates even greater chaos.

But like all high-achievers business owners who are forward-thinker, and solution-oriented, they recognize that one of the most productive solution is to outsource a team of Revenue Cycle Management (RCM) such as a team patient concierge to address specifically surge in patient inquiries during a surge of healthcare demand. To fully appreciate their support in this type of business challenge, here are the 3 major roles:

  1. Decrease Patient Wait Time

With limited staff and long queues, wait times are alway inevitable. The traditional system’s way to counter this is increasing in-house staff numbers to accommodate the surge which poses  an enormous and expensive operational expense for healthcare organizations. But by outsourcing a relatively low-cost team of patient concierge with a trusted partner, you can get better results for significantly less cost – freeing up funds for use elsewhere.

An outsourced team of patient concierge allows your core healthcare members to focus on patient and treatment related responsibilities because calls, emails, and other forms of inquiries will be addressed by this dedicated team, lessening your patient’s wait time because someone will respond solely for their concerns. This also allows a smooth patient flow because they can book appointments in their own time and get updates without leaving the comfort of their own home. An outsourced patient concierge team is also available 24 hours a day and requires minimal interaction. Just a few taps of a phone and an appointment is booked.

  1. Encourages patient-centered care

As mentioned above, having a dedicated team of patient concierge during surge of healthcare demand enables your medical staff to focus on patient-centered duties. No healthcare experience will be positive if the actual treatment and care your team member is providing is only half-focused efforts. With a dedicated patient concierge team, medical staff are kept informed of not only appointments but all relevant information they need to know before a patient arrives or visits your hospital. They will be well guided through all necessary information throughout the patient’s journey resulting in patients feeling well taken cared and heard. Outsourcing your patient concierge team makes every appointment more efficient and encourages building a better patient relationship.

  1. Ensures Patient Satisfaction

Patient concierges work strategically by targeting critical areas that affect overall patient satisfaction. Decreasing wait time and allowing medical team members to focus on patient care ensures increased patient satisfaction. In a survey, it states that 99% of patients agree that their satisfaction increased because of the hospital’s concierge service. 

And since a team of patient concierges manage the non-clinical responsibilities to primarily focus on patient concerns prior, during and after the course of treatment, the benefits are four-fold; high patient satisfaction, streamlined patient flow, clinical efficiency and decrease in clinician burnout.

It has been identified that 20-30% of dollars spent in the US healthcare system is sent to waste due to unnecessary spending, building a team of patient concierge is best done with a trusted outsourcing partner. They usually have A+ recruitment process that can hire and on-board your team within 30-45 days, have access to world-class talent at a more cost efficient labor cost allowing a projected savings of up to 70%, and a Net Promoter Score of >60 as your insurance of the quality of service as well as the operational excellence they can provide to your company. All of these best traits yield to:

  • Operational excellence
  • Building a great, high-performing Patient Concierge and RCM team
  • Operational cost savings of up to 70%
  • Information and data security thru ISO 27001 and 9001 certification, GDPR, HIPAA compliance
  • 100% overall patient satisfaction
  • 95% first call resolution
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance Revenue Cycle Management team composed of:

Patient Support Services

  • Patient Concierge Specialist
  •  Insurance Verification Specialist
  • Collections Specialist
  • A/R Specialist

Provider Management Services

  • Medical Coders
  • Medical Billers
  • Claims Processors
  • Enrollment Processors
  • Denial Management Specialist

Health Analytics and Risk Management Services

  • Healthcare Analyst

Others

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

For a free business consultation, you can schedule an appointment here.

4 days ago No Comments Views

4 Reasons Why Outsourcing Your Tech Support Team is a Smart Move

The internet revolution has shaped businesses in the 21st century in ways that many of us couldn’t have imagined. Not only has it redefined the way companies do marketing and customer service, it has also changed the definition of growth for all types of businesses through having available technical support to answer over the phone and resolve customer’s issues. Today’s growth metrics often include this type of support, and finding ways to optimize and enhance this aspect of your company’s service can be very tricky and slow because building your own team is expensive due to scarcity of talent and those with tools proficiency, especially for small and medium businesses where resources are limited and has meager experience in building an in-house technical support team

One effective solution is outsourcing, and here are the top 4 reasons why: 

  1. Outsourcing allows you to save and scale

Outsourcing tech support means that your BPO partner can control the scale of manpower to meet your changing needs. This applies to taking care of resources such as technical infrastructure (including softwares and operating systems like Microsoft servers, Linux Server Operating System, IP-PABX, Cisco Technologies, etc) assuring you that the teams built are not only trained and certified but are also tools proficient. Their A+ recruitment process can scale your business and build you a great, high-performing technical support team through their access to world-class talent yet with a projected savings of up to 70% on operating costs.  This means that you can be sure that your tech support is at its best and that you have the advantage of being able to access cutting edge technology and services without breaking the bank. 

  1. Outsourcing allows you to focus on business operations

One key advantage of outsourcing is that you’re able to focus on your core business operations, developing your business processes, products, and services without worrying about the burden of implementing and maintaining all technical-related work. This team can ensure operational excellence and your customers’ technical-related concerns are responded to in a timely manner and resolved according to Key Performance Indicators (KPIs) and Service Level Agreement (SLAs) such as technical support resolution rate and high team productivity.  This is vital, especially since it’s your business operations that ultimately indicate your company’s competitiveness and edge compared to other companies. 

This also allows a 24/7 operation with the appropriate escalation levels (tiered technical support) which means that any problems and issues can be addressed as soon as possible and your customers will not need to wait the regular 8-5 working hours to get their issues resolved. The right partner promises reliability and seamless troubleshooting procedure that results in both practical and cost-effective solutions.

  1. Outsourcing helps protect your and your customer’s data

Tech support covers security testing, security monitoring, and response to security threat incidents. This is important, especially if most of your internal and external communications happen online or in the digital world especially in the new normal. Outsourcing tech experts ensures that the likelihood of your company becoming the victim of cyberattacks is minimized. This also means that any security breach or virtually any disaster is addressed immediately and that your company is able to recover quickly. 

The right partner is ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant because they understand that data security is one of the most crucial factors for a growing business especially in the evolution of the blended office and remote work set up. They also make sure that the team they are building for you are educated and compliant in data privacy regulations and policies.

  1. Outsourcing ensures customer satisfaction through a high Net Promoter Score (NPS)

A high NPS of >60 means that clients are highly satisfied with the service they are receiving from their outsourcing provider. Their pain points and unique needs are addressed accordingly. A high-quality service delivery of the outsourcing partner extends to the satisfaction of their client’s customers as well. A promoter NPS gives clients a peace of mind – that the outsourced business processes are handled meticulously and efficiently. 

With these four advantages, you now probably have a clearer picture of how outsourcing tech support can work for you and your company. Before taking that leap, though, make sure that you know the particulars of your needs and goals for outsourcing–that way, it will be easier for you to find a BPO partner that suits your company. The finding the right partner can yield these great results:

  • Operational excellence
  • Build a great technical support team with good communication skills
  • Operational cost savings of up to 70%
  • 90% technical support resolution rate
  • 95% team productivity
  • Information and data security
  • ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant
  • NPS: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing technical support team:

  • Technical Support Representative
  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Others

Let’s work together to build a great Technical Support Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

1 week ago No Comments Views

Benefits of Outsourcing IT Support Services

As businesses are converting from manual set up to digital systems, most if not, all are building and upgrading strong IT services for their company. Large corporations usually have in-house IT tech support services because they have resources to maintain it, but for small to medium sized businesses, the smarter way is to outsource this department. Why? Because building a fortified IT team is not only costly but it requires knowledge-based experience to keep an in-house IT team operational.

Although in-house support ensures that you always have an IT support expert who knows your company intimately, outsourcing this team from a trusted partner offers the same peace of mind. Listed below are 5 benefits of outsourcing your IT services:

  1. Reduce Labor Costs

Hiring an IT team is expensive because the experts in the field usually belong to the top tier in terms of salary grade. On top of that, training and certifications like Microsoft Certified Systems Engineer (MCSE) are important, but expensive. Aside from labor cost, operational expenses such as hardware, software licenses, cloud service subscriptions, and maintenance are equally costly.

Although cost savings is not only the sole advantage of outsourcing, it can be a deciding factor, especially if you are running an SMB on a tight budget. A small in-house IT team can cost your team tens of thousands of dollars each year. On the other hand, the cost of outsourced IT tech support can give you as much as 70% cost savings, especially with the right partner. They also have access to world-class talent and their A+ recruitment process ensures that they can build you a great IT team in only 30-45 days.

  1.  Increase Efficiency and Competitiveness

The right outsourcing IT partner will have resources and experience to adapt to your line of business effectively ensuring efficiency in work output. They can build you a great IT team, train them, and provide the support they need to make sure that your unique demands are addressed accordingly. For most implementations, quality IT companies will bring years of experience in the beginning saving you time and money all the while ensuring that key metrics are achieved such as  Mean Time to Recover (MTTR) in cases of system/technology downtime, resolution rates, response rates.

Best outsourcing partners are already in the business of measuring their own activity, so it’s in their best interest to make IT consistently better for their clients. Also, vendor results are typically watched more closely to maintain excellence. If your company experiences problems all at once, your outsourcing partner will be able to quickly allocate the pressing issues to different representatives to solve the problems simultaneously. They have multiple employees where they can delegate different IT experts at the same time. And when things are working smoothly, nobody is being paid to sit and wait for the phone to ring which in return reduces downtime and improves employee productivity.

  1. Compliance, Security and Risk Management

Every business investment has a certain amount of risk. Markets, competition, government regulations, financial conditions, and technologies all change very quickly. Outsourcing providers assume and manage much of this risk for you, with specific industry knowledge, especially security and compliance issues. The right partner with an established Information and Cyber Security system is much better at deciding how to avoid risk in their areas of expertise.

Find a partner who is ISO 27001 and 9001 certified, GDPR, HIPAA and DPA20212-compliant because they understand that data security is one of the most important things for a growing business. They also understand that simple firewall and antivirus software as your company’s sole security measure is not enough. They have a comprehensive information security & data protection process ensuring that all company and information is ultimately safe at all times. They also conduct regular audits to identify processes and procedures vulnerabilities with strict measures in place that prevent any unauthorized access of client’s data at all times.

  1. 24/7 Operations

Outsourcing your IT support services also ensures that they can function 24/7 which means that any problems and issues can be addressed as soon as possible without the need to wait for the regular 8-5 working hours. The right partner promises reliability and seamless troubleshooting procedure that results in practical, cost-effective solutions making your company secure and protected. Lastly, outsourcing ensures an established business continuity plan that secures your company in any occurrences of economic or business crises.

  1. High Net Promoter Score (NPS) 

Net promoter score helps businesses gauge the quality service the outsourcing company is offering. In a way, this represents the primary capabilities and expertise they provide to their clients through result-based surveys on how much satisfied their clients are in providing IT support services. It also showcases how well the outsourcing partner is performing, how often they resolve technical and IT-related  issues, and if their clients are satisfied with the overall experience from their service. A High Net Promoter Score results in a sense of security and peace of mind for the client.

All these benefits and more can be found with the right outsourcing partner who can provide a customized, high quality IT support service solutions that can promise for the following:

  • Operational excellence
  • Build a great IT team specifically designed for your technical support needs
  • Operational cost savings of up to 70%
  • 90% IT resolution rate
  • 95% ticket response rate
  • 90% reduced system downtime 
  • Information and data security
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing IT team:

  • IT Technical Assistant
  • Information Technology Team
  • IT Operation Analyst
  • IT Operation Engineer
  • Threat Intelligence Analyst
  •  Systems/Cloud Administrator
  • AWS and Azure DevOps Engineer
  • Others

Let’s work together to build a great IT Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

2 weeks ago No Comments Views

5 Qualities of a Great Customer Service BPO

Having the right partner for the labor-intensive customer service is critical to ensure long-term growth and success for your company. It will help address  pain points such as surge in inquiries in vast platforms (e.g. calls, chat, emails, social media), data security, operational strategies and customer satisfaction. That is why, an outsourcing partner will be a big part of your business, and this means looking for a BPO partner must be carefully undertaken as if your long-term future success hinges on it.

As a business owner, you know that building trust and support among your customers is important in making your business thrive, even amid business adversities and crises. But business operations can sometimes make it difficult to focus on enhancing your customer service mechanisms, processes, and tools. As you explore outsourcing customer service processes, here are a couple of things that you should look for and keep in mind: 

  1. A+ Recruitment Process

There are a lot of BPO companies offering customer service, but the right partner must have access to world-class talent and ensure that they build a great team of customer service and tech support experts that have great communication skills and are trained according to the special needs of the client. This means that the BPO prioritizes the synergy of people and skill sets, which lead to efficient processes and topnotch service.  Also, the right partner not only has access to a world-class talent pool but they also ensure they can build a great customer service team for your company in just 30-45 days alongside training your team with customer service platform proficiencies like Zendesk, Freshdesk, Medallia among others.

  1. Information Security

In the digital age, information is power. This also applies to finding a great customer service BPO partner. A great customer service BPO has an established information security system that makes sure your data and your customers’ data are kept secure, avoiding any type of breach and other security concerns. They should be ISO 27001 and 9001 certified and GDPR, HIPAA, and DPA2012-compliant. 

  1. Future-thinking in providing end-to-end solutions

It’s important for BPO partners to have the agility to adapt to your company’s evolving needs, and this involves constantly strategizing and scaling their services and end-to-end solutions. This helps you elevate customer experience by focusing on service excellence, smart processes, and a fresh perspective. A future-thinking BPO partner also prioritizes creativity, and valuing your partnership as an essential tool for designing and productizing services. 

  1. Established strategic analysis

Finally, a good healthcare BPO partner is adept at analyzing your company’s strengths and weaknesses, your loopholes and areas for improvement. This is because it’s the BPO partner’s job to be experienced with the advanced automating tools and the techniques of strategic analysis and help your company reach greater heights. Knowing the gaps in your services and products lets you gain a more accurate perspective on how you can further fortify your business and support your customers. 

  1. Net Promoter Score of >60

Net promoter score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which customer service BPO is best to partner with because this score shows loyalty trends and growth revenue outputs. In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy, and this results in customer loyalty and retention, making a high NPS a critical trait a customer service BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

These five factors demonstrate that when looking for a BPO partner, you must focus not just on the services, but also on the shared vision. Does your potential BPO partner share your views and beliefs when it comes to providing customer service and nurturing relationships with your customers? Now that you’re aware of these, you might already have a mental checklist of things that you must look for. Once you start looking for a BPO partner, make sure to keep these qualities in mind.  

When you’re expanding your business, team up with a solutions partner that makes your process, their process. The right outsourcing partner ensure:

  • Operational excellence
  • Having a great CX team
  • High customer satisfaction rate
  • Operational cost savings of up to 70%
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing CX team:

  • Social Media Managers 
  • Online Community Managers
  • Customer Care Representatives (Omni-channel)
  • Chat / Email Support Representatives
  • Technical Support Representatives
  • Market Research Analysts
  • Others

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

2 weeks ago No Comments Views

Insourcing vs Outsourcing Social Media Management Team

Social media is everywhere. And nowadays, some would argue that social media is one of the remaining ways people can stay in contact due to the lockdown. More and more companies are turning to social media to communicate with and engage customers. They also utilize social media platforms not just to gain rapport with more customers but also to promote their products and get feedback. Now’s the perfect time to upgrade your company’s social media, and if you’re thinking whether you should outsource or hire an in-house social media management team, here are some pros and cons you might want to consider: 

Advantages of Insourcing: 

  1. In-house team’s investment and involvement in your company’s work  

While it’s important to have the technical knowledge when handling social media, engaging your audience and customers also requires a more personal approach, and nothing compares to your team’s dedication not only to your company’s services and products, but also to your customers themselves and the way you have built a community with them over the years. Your in-house team’s investment in all of these unlocks the “heart” of your content and will make things more personal and relatable. 

  1. In-house team’s complete knowledge of your company 

It goes without saying that you know your business better than any company, and the way your in-house team handles your social media platforms will reflect that and make it felt by your audience. This also plays a vital role in keeping your content in check, especially when showcasing your products and services. 

Disadvantages of Insourcing: 

  1.  Hiring an in-house team requires addition training cost 

Most companies that utilize in-house social media managers tend to focus on just steadily churning out content. This means that training and development of technical know-how are often neglected. One disadvantage of having an in-house team is that it would require the company’s constant investment in these other important aspects of social media management. 

  1. Insourcing costs money

To build your own in-house team, your company must be able to effectively discern your social media management needs and pick the right candidates for necessary roles. Most companies need a team of at least several people to handle all facets of social media management. Hiring people, purchasing tools, maintaining physical offices and overall business operations cost incur costs and resources that may not be prepared for. 

Advantages of outsourcing: 

  1. Outsourcing will allow you to focus on your business operations

Simply put, outsourcing will allow you to hit two birds with one stone: while your social media engagement is being ramped up, your core business team can focus on keeping business operations in check and possibly even adjusting those operations based on the changing needs of your clients based on the feedback you get from social media.

You can focus on achieving business goals while they take care of your customers and clients through social media engagement.

  1. Outsourcing helps reduce in-house costs

Partnering with a BPO provider can help you save money, especially if you take into account the expensive ancillary costs of on-boarding in-house staff, such as recruiting and training expenses, employment taxes, and overhead cost compared to bringing in a dedicated solutions team of expert advisors.

Outsourcing can cut down these costs according to your budget efficiency and quality because they  are already experts in that trade. But despite the savings, the right outsourcing partner can still build you a great team of social media experts because they have access to world-class talents at a more cost effective rate.

  1. Outsourcing will allow you to immediately tap social media expertise

Aside from the two pros mentioned, outsourcing social media management experts allows you to gain expertise that isn’t currently available to you and your team. Apart from marketing and public relations know-how, the right BPO partner would have an aptitude for communication and a passion for connecting with people, and must have a deep understanding of how different social media platforms work and how each of them would fit into your company’s work and its target audiences. Finally, they know the ins and outs of how social media can be utilized to help you engage with your customers in various ways. 

Usually, BPO who are well-versed in social media management have access to world-class talent which allows them to build a great team of social media experts for your company. Their A+ recruitment process can scout, employ and train your team in only 30-45 days.

Pro tip: Look for an outsourcing partner with a High Net Promoter Score (of at least 60%). Net promoter score helps businesses gauge the quality of the customer service offered by outsourcing companies. In a way, this represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention. It also showcases how well the outsourcing partner is performing, how often they resolve issues, and if their clients are satisfied with their experience. A High Net Promoter Score results in a sense of security and peace of mind in terms of client satisfaction and quality business operations.

Keep in mind that social media is not just about sales engagement. It’s also about connecting and building a relationship with your audience. 

All these qualities and more can be found with the right outsourcing partner who can provide a customized, high quality social media management into your business solutions and promise the following:

  • Operational excellence
  • Build a great social media team specifically designed for your unique CX support needs
  • Operational cost savings of up to 70%
  • 90% customer satisfaction
  • 95% response rate in social media platforms
  • Increase customer and brand loyalty
  • ISO 27001 and 9001 certified and GDPR, HIPAA, and DPA2012-compliance
  • Net Promoter Score: Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing CX team:

  • Social Media Managers 
  • Online Community Managers
  • Customer Care Representatives (Omni-channel)
  • Chat / Email Support Representatives
  • Technical Support Representatives
  • Market Research Analysts
  • Others

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

2 weeks ago No Comments Views

Traits of a Great Bookkeeper and Where to Find Them

In business, proper bookkeeping and accounting is an integral factor for success. But aside from employing the right people with the best qualities, few challenges to face are the limited pool of talent in the F&A market and the expensive labor cost in employing them. But we know that having a bookkeeper in a company is important because they sustain and keep the business’ financial records on track by enabling owners to make informed decisions on expenditure and investments, and controlling cash flow. This is why hiring the right bookkeeper in your team is important.

To help you out, here are some traits and qualities that you should look for in a good bookkeeper:

Professional Competence and Experience

For your company to avoid heavy losses and other complications, your bookkeeper should have a technical knowledge of the industry. This involves not only organising and maintaining your accounts but also being familiar with tax laws such as GAAP and Sarbanes Oxley and doing their utmost to keep your accounts compliant with them.

A title of Certified Public Accountant (CPA) is not required, although it would be better to hire a bookkeeper with one. It’s more important to thoroughly check on their accounting and bookkeeping knowledge as well as experience in working in the industry. Ideally, a bookkeeper who has expertise in your field of focus is a better choice since they can offer sharper services with a more informed approach. They can also provide reports on how your business is performing month-to-month, and have an idea of what success metrics look like in your industry.

Transparency

Bookkeepers make the financial side of the business much easier to handle, which saves you time to focus on more important things. However, in turbulent times, they should also be able to be honest and transparent in advising you of the consequences and opportunities in the situation at hand.

It is not the bookkeeper’s job to make decisions for business owners, but they can give them the complete details of the issue as well as the stakes and recommendations that can help them take the next steps moving forward.

Accessible and Client-Focused

This is not to say that only those who answer concerns and inquiries in the wee hours of the night are good bookkeepers; this only means that with the advanced technology in communication that we have today, a good bookkeeper should be visible to the client and prompt when it comes to responding to messages especially when these are deemed urgent. 

Being present shows that the bookkeeper is focused on the needs of their client, which is another trait that you should look for when hiring for the job. They should be attentive to the specific needs of the client and be proactive enough to advise them on the opportunities and risks that they are exposed to. Basically, more than just getting paid, a good bookkeeper values the success of their client.

Why Outsource?

Outsourcing your bookkeeping operations may be more beneficial for your company than you think. For one, it cuts on costs of both hiring full-time workers and investing in bookkeeping tools. 

It also provides you the ability to scale your operations depending on the work demand, and most importantly, it gives you access to F&A professionals and specialists that have the traits mentioned above and no longer need to be trained, saving you time and money.

When outsourcing, the right partner can build your dedicated team of well-trained F&A professionals, tailored to streamline simple to complex accounting functions. They can meet your goals, whether they be growth, improve productivity or simply bottom-line cost savings, and exceed your expectations. With access to highly-skilled experts who use cutting-edge technology, you will have more time and freedom to focus on your business’s core competencies.

The right outsourcing partner ensures:

  • Access to talent through their A+ recruitment process
  • Cost saving of up to 70%
  • Adaptability in technological advancement
  • Established Information Security

The major net results of partnering with the right company are:

  • Operational excellence
  • Having a great F&A team
  • Operational cost savings of up to 70%
  • Accuracy and quality
  • Timeliness in submission
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O
Infinit-O’s mission is to create endless opportunities for your company to realize your full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing F&A team! Here are some examples below:

Let’s work together to build a great Finance and Accounting Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

3 weeks ago No Comments Views

Key Finance and Accounting Professionals to Employ During Business Recovery

Every business owner knows that finance and accounting is essential not only in keeping finances in check, but also in making sure that the company survives and even thrives amid potential financial risks and challenges. There are a lot of factors to consider when it comes to finance and accounting, and these require expertise in a lot of areas–areas that may spell the difference between a successful business and a struggling one. Below is a list of finance and accounting roles and how they can help your business rise above the rest:

  1. Bookkeeper

A bookkeeper, as the name implies, is the keeper of financial records. Accurate financial recording helps organisations keep track of their income and expenditure and makes sure that they stay within budget, says Oxbridge Academy. Financial record-keeping is done on a daily basis, and this includes keeping a record of all receipts, payments, and other financial transactions; filing source documents; and preparing cash flow statements and financial reports. Bookkeepers are also responsible for issuing invoices, paying accounts on behalf of the company, performing payroll administration duties, and filing tax returns. These responsibilities make bookkeepers essential in business recovery as they ensure that your employees are getting paid on time and that your expenses and income are tracked properly even amid crisis. 

  1. Accountant

Like a bookkeeper, an accountant also keeps track of financial records, but what makes accountants different from bookkeepers is that aside from financial record-keeping, they also interpret financial information. According to Northeastern University, accountants can perform functions similar to bookkeepers, but they are also in charge of evaluating financial operations to recommend best-practices, identify issues and strategize solutions, and help organizations run efficiently; offering guidance on cost reduction, revenue enhancement, and profit maximization; and conducting forecasting and risk analysis assessments. By analyzing and evaluating your company’s financial situation and helping you identify and address crucial financial struggles, accountants help ensure that you have the right set of tools to recover business operations during and after a business crisis. 

  1. Financial Risk Managers

Financial risk managers take financial analysis to the next level. In a recent article, Investopedia states financial risk managers help identify threats to a company’s assets, a company’s earning capacity, and a company’s overall success. Furthermore, financial risk managers “determine risk by analyzing financial markets and the global environment to predict changes or trends. It is the FRM’s role to develop strategies to counteract the effects of potential risks.” This means that aside from interpreting the finances of the company, financial risk managers take a look at the company’s overall financial status and situation within a wider context, and this ensures that the company is more prepared for any possible financial risk that may threaten it. What’s best about financial risk managers is that they can help you come up with a business continuity plan that would not only help you avoid or manage business risks, but would also help your business quickly recover and continue providing its vital services during or after any economic crisis. 

Build a Great Team with the Right Partner

Overall, these three roles enable your company to obtain data that is necessary for maximizing profit and curb fraudulent practices. However, due to the rapid changes in the industry, with more and more companies choosing to do their finance and accounting in the digital world, few are able to keep up and stay on top of the many news and trends as well as the corresponding training and skills update needed. Online tools have been made available in recent years to help companies adapt, and these include accounting softwares, expense trackers, and billing tools, but many employers are now outsourcing finance and accounting roles, as outsourcing can be more cost efficient with up to 70% savings on operational cost and can help a company focus more on its operations, especially if they’re composed of lean teams.

With the right partner, they can build you a great F&A team that ensures:

  • Right partner, right team ensures
  • Access to talents
  • Cost Savings
  • Accurate financial recording 
  • 95% team productivity 
  • 90% Timeliness in accounting submission 
  • Quality of finance and accounting output

Support from the right outsourcing partner allows you to fortify your company’s finance and accounting processes despite the limited talent pool and a very high priced job market. The best partner will scout finance and accounting specialists and match them to your unique needs to help you focus on achieving your business goals and the following benefits:

  • Operational excellence
  • Having a great F&A team
  • Operational cost savings of up to 70%
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize your full potential.

We can build you a great, high-performing F&A team composed of:

Let’s work together to build a great Finance and Accounting Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

3 weeks ago No Comments Views

Traits of a Great Finance and Accounting BPO

Strategy and planning are crucial in ensuring that your corporate accounting firm can operate without any hiccups. And the formula for fruitfully navigating a business towards success is by effectively managing income and expenses and having a great finance and accounting team. As a result, unexpected financial downturns can be easily circumvented because without a strategy, it would be like leaving the performance of your company to chance. Generating business strategies and contingency plans can also be designed more effectively through a well-established F&A process and skilled domain experts team.

Many businesses are now outsourcing finance and accounting making the industry huge and growing bigger every year. Because there are many outsourcing companies out there, knowing the best traits to look for before partnering is one way to ensure that you invest in the right company and the right collaboration. Allying with a third party vendor should be done carefully because it is an investment that will define the course of your business. We listed 3 traits of an F&A BPO should look for:

  1. Access to talent

There is a shortage of finance and accounting professionals like Bookkeepers, CPAs, Data Entry Specialists, etc in the F&A industry. 38% of finance and accounting professionals say there is a general shortage of professional skills.  This means, as a firm that wants to hire only the best F&A accounting professionals. But a reputed finance & accounting BPO has A+ recruitment team and process that gives them access to the best talent in the F&A industry. 

This allows them to add the best talent to your workforce and build you a great team of F&A experts which in return can scale your operations on an immediate basis because their industry network allows them to source new talent quickly and effectively. A great BPO has a well-established hiring process to allow them to filter the best people for your company and make sure that they have the proper certifications and skills

  1. Adaptability in technological advancement

Process optimisation is another factor to consider because through stricter controls, checks and balances and the use of advanced technology you are assured that your company’s fiscal requirements are met. The use of Six Sigma, Kaizen and lean management techniques ensures not only are outsourcing processes continuously improved but also that the benefit is transferred to their clients. 

Outdated tools and technology may be ineffective in the long run making it difficult to report numbers after the factual, let alone in real-time. Without updated tools and F&A technologies, your business is prone to miss deadlines, commit mistakes, devise ineffective strategies and remain in business stagnation. Having updated softwares (i.e. Quickbooks, Geneva, etc) fills up any finance and accounting requirements needed for your business to grow. Make sure to get the tools that have features fit for your current business needs.

This is another trait to look for in an outsourcing company because technology and process are ever changing and evolving. A great partner understands this need and is responsible to make sure that their clients are updated and not outdated.

  1. Established Information Security

Simple firewalls and antivirus softwares as your company’s sole security measure may not be enough to outmaneuver data risks and security threats. Underestimating the importance of information security especially in this digital age can put your business in jeopardy especially your financial information. Because one of the most important and private data that should be kept secured is a company’s financial and accounting records; those that contain business assets, budget and revenue. A compromised book allows hackers to take advantage of your business’s financial assets.

A great F&A BPO is ISO 27001:2013 and ISO 9001:2015 certified and General Data Protection Regulation (GDPR) compliant because they know the importance of data security. Aside from that, they also have internal Information Security in place to ensure that their team members and their internal processes are adhering to protecting their client’s records and books.

  1. Cost Savings

One major advantage of outsourcing is its cost saving opportunities. You can cut down operational costs in recruitment and hiring, training, office space and utilities and even hardware and software needs of your business because your outsourcing partner will take care of those things at a more affordable cost with efficiency and quality in the work because they  are already experts in that trade.

Despite the cost savings, the right outsourcing partner can still build you a great team of experts because they have access to world-class talents at a more cost effective rate.

  1. High Net Promoter Score

Net promoter score helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which outsourcing service is best to partner with because this score shows loyalty trends and growth revenue outputs.

In a way, NPS represents the primary way customers survey their experience because it means that their clients are happy which results in customer loyalty and retention, making this a critical trait a BPO company should have. When used correctly, NPS (of at least 60%) can tell you how well the BPO is performing, how often they resolve issues, and if their clients are satisfied with their experience.

All these qualities and more can be found with the right outsourcing partner who can provide a customized, high quality F&A business solutions that can promise for the following:

  • Operational excellence
  • Build a great F&A team specifically designed for your unique needs
  • Operational cost savings of up to 70%
  • Accuracy and quality
  • Timeliness in submission
  • Information and data security
  • Sense of security and peace of mind

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performing F&A team composed of:

Let’s work together to build a great Finance and Accounting Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

4 weeks ago No Comments Views

How to Effectively Deal With Increasing Insurance Coverage Inquiries and Claims

Since there are different comprehensive health plans available like individual policies, employer-sponsored or exchange plans, policyholders often call their insurance providers to inquire about coverage, cancellation, extension or simply clarification about their plan. But in today’s healthcare climate where there is a rise in chronic illnesses coupled with the existing pandemic, many people are apprehensive with their health insurance plans.

And because each policyholder has unique insurance plans, the change in the health economy and the rise of distinct situations brought by health crises, these can cause some degree of confusion to policyholders which in return can trigger them to seek clarifications to their insurers resulting in a surge of inquiries through call, chat and email. To overcome this, here are 2 best ways to effectively deal with surge insurance inquiries and claims.

  1. Employ a great customer service team

Having a great customer service team that can address and respond to these surge of queries helps lighten the load of health insurance companies all the while giving utmost assurance and clarity to policyholders amidst the era of uncertainty. Because with the difference of cost-sharing among plans, it makes sense that people will call their insurance company to find out exactly what is and isn’t being covered. And it is crucial to answer these queries efficiently and effectively especially that there is a significant decrease of policies due to insurance cancellations. This is one way for insurers to retain their existing clients.

To address this, try incorporating several dimensions of your healthcare business supply chain through outsourcing from vendors that have been aiding healthcare companies in the telehealth and health insurance fields. Partnering with third parties like outsourcing companies for patient concierge, medical review specialists and other patient inquiry-related concerns can support production capacity by freeing clinicians from answering phone calls and responding to appointment inquiries. They can also help oversee the day to day peer review process from acceptance of medical cases for review, facilitating first level screening if applicable and preparation of case review documents to be endorsed to doctors, nurses and other healthcare providers. A team of dedicated customer service can focus on answering questions and making sure that these inquiries are responded accordingly.

  1. Incorporate a Dedicated Revenue Cycle Management Team

Increase in inquiries can also result in an increased number of claims or the inquiries are an outcome of some denials. Therefore, having a dedicated RCM team in your business is one sure way to address surge in inquiries and claims.  Your RCM team are experts on diagnosis and procedure codes, you are assured that they are to make accurate claims submission that can positively impact revenue cycle. To capture diagnosis codes for billing purposes, the industry uses the  International Statistical Classification of Diseases and Related Health Problems, Tenth Revision (ICD-10). Hence, make sure that your RCM team should have expert knowledge on ICD-10 and CPT coding to yield accurate claims.

Outsourcing your customer service team and dedicated RCM experts ensures that surge in inquiries will be taken care of and any potential issues in claims will be addressed. These teams can also work remotely with the following workout results:

  • Patient satisfaction
  • 95% coding, billing and documentation accuracy
  • 1 hour turnaround time
  • Improved denial management rate
  • HIPAA and DPA-20212 compliance

The right outsourcing partner not only ensure building a great and high-performing Customer service and RCM, it also ensures:

  • Operational savings of up to 70%
  • Clinical Documentation Improvement (CDI) and efficient process
  • Information Security
  • Maximize revenue
  • NPS >60

Partnership with Infinit-O

Infinit-O’s mission is to create endless opportunities for your company to realize its full potential.

Infinit-O Key Benefits:

We can build you a great, high-performance Revenue Cycle Management team composed of:

Patient Support Services

  • Patient Concierge Specialist
  •  Insurance Verification Specialist
  • Collections Specialist
  • A/R Specialist

Provider Management Services

  • Medical Coders
  • Medical Billers
  • Claims Processors
  • Enrollment Processors
  • Denial Management Specialist

Health Analytics and Risk Management Services

  • Healthcare Analyst

Others

Let’s work together to build a great  RCM Team.

Start small. Exceed expectations. Think infinitely. Think Infinit-O.

4 weeks ago No Comments Views

Newsletter

Subscribe to our emailing list and get notified of the top stories on the web.

Scroll to top