Through Omnichannel support, brands can reach customers at every stage of the buying experience and provide relevant customer support across all channels. To put it simply it is a holistic approach to ensure that your customers are well-taken care of and are satisfied with service they receive.

Note that according to a research by Entrepreneur, 80 percent of businesses believe they provide excellent customer service but only 8 percent of customers agree.

That is why having an omnichannel team in your organization is relevant to your business’ success. Although one of the biggest hurdles with this is finding the right people and ensuring that even if you’re adding a new set of team it will not affect the allocation in your operational cost. Lastly, it is crucial that you have the proper set of knowledge and experience in an omnichannel system.

One best way to overcome said challenges is through outsourcing this team with the right partner who has:

• Access to world-class talent
• Offers operational cost savings up to 70%
• Has operational excellence

If you find a partner that can provide these strategic solutions, you will learn these 3 reasons why they are a must for your company :

1. Holistic customer experience

Omni means “in all ways and places”. Having an omnichannel team allows you to be one step ahead in making sure that in every aspect of their buying experience you care for their needs. You can give them access to multiple easy options to reach out to your brand at any time of the day, handle queries and resolve issues on-time. 

A research conducted by Gladly states that 80% of customers will recommend a company after a great customer experience and 40% satisfied customers will share their story on social media which is now considered as good marketing. In turn, this will boost customer retention rates and bring more revenue to your business.

2. Personalized customer service

A recent study by Forbes reveals that 90% of customers find that messages from companies are “annoying” and are not personally relevant. In the same study, 67% of Millennials and Gen Zers stated that they expect companies to always be personalized. 

This data simply shows that personalized customer experience is a necessity. With a structured omnichannel team in place, serving human connection is more feasible because there is a dedicated team with the main priority to address unique and individual concerns of their customers.

3. Cost effective and capital efficient

This is by far the most important reason for having omnichannel support in your organization.  Aberdeen Group states that consistent service quality across multiple channels retain 89% of their customers, whereas companies that do not provide a consistent quality are only able to retain 33%.

Having said that, it generates ROI more effectively than traditional customer service. It is also cost effective because instead of hiring support teams in different channels, you have experts that can handle multiple concerns and modes of communication with the customers.

Omnichannel customer service is the solution for forward-thinking businesses. But it is important to find an outsourcing partner to build a team with. Make sure that your potential outsourcing company has:

• Access to world-class talent
• A+ recruitment process who can build a team in just 30-45 days
• Net Promoter Score of >60

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.

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.

For healthcare providers, managing complex interactions with medical insurance companies can sometimes take away the focus on providing excellent patient experience. This is why having experts handle these kinds of transactions is important not only to ensure efficiency in operations but to prevent common errors and noncompliance to regulations.

Claims processing in particular is a tedious and complicated task that involves reviewing claim submissions, obtaining and verifying information, corresponding with insurance agents and beneficiaries, and processing claim payments. With their knowledge and expertise, claim processors can manage these responsibilities well, eliminate backlogs and tighten turnaround times.

One of the best ways to have them in your team is through outsourcing. A dedicated outsourced team of claims processing experts who have an intimate experience with revenue cycle management will create customized solutions for your company and adapt to your processes while improving them when they can. When you outsource your claims processing experts, you can also enjoy the following benefits:

Streamlined and more efficient claims processing

Adding an outsourced claims processing team in your operations means you have a dedicated set of people that can help you handle a high volume of transactions and reduce processing time with the use of automated and streamlined processes. In turn, this maximizes your team’s output and the rest of your staff can focus on delivering the best care to your patients and other tasks that can help in the improvement of your company.

Improved patient satisfaction

Outsourcing providers have the experience, expertise and resources when it comes to managing challenges that come with claims processing and you can use these to your advantage to improve your customer service. With an outsourced team devoted to handling claims processing, turnaround time will be faster and claims are handled with greater accuracy. Each client will also be given closer attention regarding their concerns and queries by your claim processors – all of these resulting in greater patient satisfaction.

Lowered operations costs

By outsourcing your claims processors, you are able to cut the expenses that come with hiring in-house talent including benefits, salary, and training without compromising the quality of service. There’s also no need to invest in the necessary technology and infrastructure for the role since the right outsourcing provider has the resources and tools to help streamline and automate the claims processes.

When looking for a trusted outsourcing company, partner with the one that can help you build a dedicated claims processing team that has:

• Access to world-class talent
• A+ recruitment process that can hire and on-board new teams within 30-45 days
• A high Net Promoter Score of at least 60

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organisations 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 an outsourcing 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.

The right partner will guarantee you:

• Operational excellence
• A dedicated team of RCM experts
• Operational cost savings of up to 70%
• 95% coding, billing and documentation accuracy
• 90% ROI in correct claims processing
• Improved denial management rate
• ISO 27001 and 9001 certified, GDPR, HIPAA compliant
• Net Promoter Score >60: 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 RCM team composed of:

• Claims Processors
• Medical Coders
• Medical Billers
• Patient Concierge
• Clinical Abstractors
• Patient Concierge
• Medical Review Specialists
• Care Navigators
• Outbound/Inbound Collections
• Other RCM Teams
• Other Healthcare Support

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

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

When it comes to running a business, maintaining a positive morale in the workplace is important for employee satisfaction and retention – two key performance indicators for business success. One of the ways to build trust among employees and keep them motivated to work is completing payroll in a consistent and timely manner, which can be done with a dedicated team of payroll specialists.

Not all companies have the capacity and resources to build an in-house payroll team. Most of the time, these crucial yet time-consuming tasks are delegated to the human resource (HR) department. Although this set-up is viable, it also has its own downsides like taking away the focus of HR personnel from their core tasks.

Businesses regardless of their size and scale can explore outsourcing to ensure that their payroll processes are properly managed. According to a news article in the Journal of Accountancy, 47 percent of U.S. and Canadian companies choose to outsource their payroll team and it’s all for good reasons. More than just cost-savings, it can give you:

More time to focus on business growth

As aforementioned, processing payroll is a task that can take up a lot of your personnel’s time because it involves a handful of steps and most of these require a high level of attention to detail. From calculating payroll amounts and generating reports to remitting taxes and returns and distributing paychecks, it can quickly drain your human resources.

By outsourcing payroll specialists, you are taking these tasks off your staff’s already full plate so they can focus more on core business activities that can drive performance and growth, and put your business forward.

Compliance to regulations and standards

Partnering with the right outsourcing provider for your payroll team will help you stay compliant to everchanging tax regulations and avoid paying costly penalties due to late or incorrect filings and payments. According to the IRS, 40 percent of small businesses incur an average of $845 each year in penalties because of these.

Your outsourced payroll specialists have the responsibility to make sure that your payments and filings are accomplished in time and error-free. They also stay up-to-date with the latest regulation changes that could affect payroll.

Access to expert talent

One great advantage of outsourcing a payroll team is working with highly trained professionals who have the skills and industry experience to administer all aspects of your payroll needs, and ensuring compliance and high quality service. They bring with them expert knowledge about tax regulations, withholding rates, government forms, comprehensive payroll reporting and other important concepts in payroll processing that business owners and other staff may not readily know of.

Now that you are aware of the many benefits you can enjoy if you outsource your payroll team, it’s also important to note some common concerns about it such as security and privacy issues, and lack of service quality or timely reporting. To prevent these problems, choose the right outsourcing partner that is ISO 27001 and 9001 certified and GDPR, and DPA2012-compliant, which will ensure data protection and omit security breaches. Moreover, partner with a trusted and reputed outsourcing provider with a >60 Net Promoter Score.

Net Promoter Score (NPS) helps businesses gauge the quality of the customer service offered by outsourcing companies. Organizations can use NPS to assess which 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 any outsourcing 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.

Team up with a solutions partner that makes your process, their process. The right outsourcing partner ensure:

• Operational excellence
• Having a great back office team
• Industry experience
• Operational cost savings of up to 70%
• Information and data security
• >60 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 Payroll and other back office teams:

• HR Compensation & Benefit Specialist
• HR Data Management Specialist
• HR Employee Engagement Specialist
• Employee Relations Officer
• Recruitment Specialist
• Payroll Specialist
• Data Entry Specialist
• Others

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

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

Thinking of outsourcing some of your business processes? Before you land a company that fits well with your organization’s needs and vision, there are many factors to consider. Industry experience, expertise, cost efficiency, and compliance are just some on the top of the list, but the pandemic situation also highlighted the value of having a well laid out business continuity plan for outsourcing providers.

In its simplest form, a business continuity plan (BCP) is a structured response that contains all vital information an organization needs to restore and maintain critical business functions during an emergency or crisis. Unlike disaster recovery that mainly focuses on the recovery of data, hardware, and other IT assets after a disruption occurs, BCP takes account of all measures to ensure that operations continue even during a disaster.

To put the importance of having a BCP in perspective, just an hour of downtime can cost businesses anywhere from $10,000 to $5 million depending on their size. More than that, it can also result in negative brand reputation especially among consumers, and loss of business opportunities.

Partnering with an outsourcing company that has a good BCP in place can ensure you of the following:

Preparedness for crisis

Entrusting part of your business processes to an external provider will always have its risks, but choosing one that has a BCP can undoubtedly give you more peace of mind since you are assured that they are ready in case a disaster happens. Whether it’s a data breach, a fire in the office or a global pandemic, your outsourcing partner knows its plan of action to minimize adverse impacts to their operations and clients.

Having a BCP should give outsourcing providers an idea on what areas to improve on, and the technologies and procedures to look into to better their disaster response for future reference.

Shortened period of disruption

As mentioned above, downtime caused by disruptions can be detrimental to any business, which is why your outsourcing partner should be able to make quick yet intelligent decisions based on their BCP to avoid delay in restoring operations and risking their clients.

For instance, at the onset of the COVID-19 pandemic in the Philippines, quarantine restrictions prevented employees from reporting to the office. An outsourcing company that is unprepared for this kind of scenario would have their operations severely compromised, but one that has an organized and structured plan would be able to know what procedures to take to make sure their employees are able to continue doing their jobs at the safety of their homes and with adequate assistance.

Excellent risk management

Risk assessment is a big part of a BCP — in fact, this is where it all begins. An outsourcing company with a BCP has identified the various risks it can possibly encounter as well as the consequences these can entail for them and their clients. Doing this helps them prioritize, mitigate and manage risk factors, which ultimately contributes to better resilience to disruptive events should they happen in the future.

Client’s Peace of Mind

Having a well-established BCP gives you peace of mind because  you can be confident that they can keep your business running despite any potential disruption in the market. Great BPO partners have access to the right:

1. People – world-class talent
2. Process – business continuity plans
3. Technology – updated technology
4. Security – well-established information security

On top of having a BCP, choose an outsourcing partner that also has:

• Access to talent through their A+ recruitment process
• Cost savings of up to 70%
• Adaptability in technological advancement
• Established Information Security
• Operational excellence
• Information and data security
• >60 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:

In Infinit-O, we understand that our clients require a business partner that can deliver consistently in different adverse scenarios. That is why it is important that we have a plan in place to move things in order for us to deliver our commitment.

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

Information Security Means Better Business

In the progressively competitive business world, information is a valuable resource that needs utmost protection. Information security is integral in managing your business and ensuring that vital information is not compromised in any way.

In this modern age when almost everything comes handy, customers have become less appreciative and are difficult to please. With the advancement in technology and the accessibility of information, product quality among competing brands and companies are almost equal. Hence, the determining factor in choosing the brand or company lies in the customer service.

For a business to maintain operations, provide better services, and come up with new products, it needs to make a profit. In any business, profit is always accompanied by certain losses. The key is to ensure that profit and loss management is done correctly to help businesses stay afloat and better yet, thrive.

What are Profits? What are Losses?

A profit is an amount of money that is more than its original price. On the other hand, a loss is an amount of money that is less than its original price.

In business, we say one makes a profit when the business makes money or experiences a return of investment (ROI). A business experiences a loss when it doesn’t make money on a product or service but loses part of more than what the owner initially invested.

Profit is making money.
Loss is losing money.

What is Profit and Loss Management?

Profit and loss management is managing income (incoming cash flow) and expenses (outgoing cash flow) to ensure that a business earns a net operating profit.

Usually, profit and loss management deals with profit and loss reports (commonly called P&L reports). You can compare it to a report on how the financial aspect of the business is doing or performing. It helps determine how profitable a business venture is or in the case of P&L projections, how profitable it will be.

Profit and loss management is crucial to help a business stay afloat, project and strategize for its future and improve its performance.  By comparing profit and loss forecasts with the actual performance of other companies—preferably competitors or role models, a business can identify areas they need to focus on or improve on.  For example, is the business spending enough on research and development to ensure that they can stay one step ahead from their competitors? Are they spending too much on expenditures?

All of these considered, we have come up with three ways for you to do profit and loss management right:

1. Monitor Profit and Loss Reports Constantly

P&L reports are generated on a weekly, monthly, quarterly or annual basis based on a company’s standard operating procedure. However, accountants can generate reports as needed and requested by the management. Take advantage of this and constantly look at the numbers. Look for trends and use them to forecast and project profits and minimize losses.

According to an article on business.org, a P&L chronicles a company’s fight for financial survival, as well as the results of that competitive struggle, during a specific period (quarter, month, or fiscal year). A company’s P&L data shows indicators like revenue, expenses, and net income, or net loss if expenses exceed revenue. Revenues range from operating earnings and interest income to cash generated on investments or in joint ventures with other establishments.

The reports alone can help you make informed business decisions to help your business maximize profits.

2. Combine Monitoring of P&L Reports and Cash Expenditure

Cash is still king, no matter the business type or size. Effective money management shows how a company saves money, grows its existing cash, and averts financial meltdown. This should be managed or controlled efficiently. Expenditures (outgoing money or expenses) should be monitored.

Combined with P&L reports, this helps a business save money during lean months, and have spending power on strong months to invest in new business products, infrastructure, technology, manpower or any aspect that is needed for business growth.

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Developing a business strategy that combines these two will result in effectively managing business income and helps the company “feel” profits when they come in.

3. Outsource Team for P&L Management

It can be hard to generate P&L reports especially when there is too much red tape in the organization. It can also be challenging to do projections on it if you are too involved or immersed in the company. You tend to prefer to stick to gut instinct when making analysis.

Partner with a finance and accounting solutions partner to build a team of bookkeepers and certified public accountants to generate reports strictly from an accounting point of view could give a manager a different perspective. The team can also help develop a business strategy formula to help a business owner understand how to increase or make more money.

There are a lot of factors affecting the profitability of a business and profit and loss management is just one aspect. Effective business strategies, cash managements, maximizing profit and loss based on the company’s strengths are examples of how a business can save money, make money and lessen losses. No matter how much cash a company has or how many assets it owns, losses extending over long periods of time will weaken the value of its assets, decrease its cash holdings and drive it to bankruptcy. Profit and loss management will help a business prevent substantial business losses from happening if done right.

Managing your business’ finance and accounting on your own is taxing and does not always result in favorable results. With our customized solutions, rest assured that all your concerns would be addressed accordingly and at the same time, it would allow you to concentrate on other important factors vital for your company’s growth. Learn more!

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Managing the accounts receivable is extremely crucial for any business, as day-to-day operations greatly depend on it. It’s where you have to draw money to pay your employees, finance your company’s daily expenses, and grow the business, which is why payments must be collected on a timely basis.