Capture true document efficiency with Business Process Outsourcing
March 08, 2023 || FCTEC
Transform document management, data capture, and processes with business process automation that reshapes productivity and transparency.
McKinsey defines technology as a ‘primary catalyst for change in the world’, describing it as the central pivot on which the business spins, turning towards improvements in productivity, process management and innovation with tools that redefine how people work, collaborate and engage. And one technology that’s changing how companies operate and automate critical data and documents is business process outsourcing (BPO).
BPO allows for the organisation to focus on its core business by outsourcing repetitive tasks, but also enhances how the business engages with its core business by providing exceptional visibility into data, documents and processes. As Deloitte emphasises in its Global Outsourcing Survey 2022, third-party BPO solutions are enhancing business and IT processes with AI and data insights, and are constantly evolving to ensure that the organisation has the tools it needs to unlock value. BPO that relates to document process outsourcing and that includes processes such as physical scanning, data capture and searchable electronic document creation services is shifting the entire document management dynamic. Here, data and documents are transformed from an admin burden to a highly agile repository of information that connects to existing downstream applications such as enterprise resource management (ERP) or enterprise content management (ECM).
It also transforms documentation into business agility. BPO turns the mandatory admin of document management into accessible information that employees can use to improve productivity, innovation and decision-making. By removing the need for employees to undertake repetitive and time-consuming tasks, companies also save time and money. Their people now free to focus on revenue-generating tasks instead. Also, let’s not forget that outsourcing the humdrum of document management gives the business more space to focus on core business solutions. This is one of the greatest benefits of BPO. You don’t need to allocate employees to the task. You don’t need to worry about investing into dedicated hardware and the maintenance and IT costs that come with it. You don’t need to scan in bulk, spend budget on digitisation that could be better allocated elsewhere, nor do you have to spend weeks on a process that can, with a trusted partner, take hours.
BPO is disciplined, dynamic and digital. And, if it leverages hyperautomation capabilities it can allow for the business to realise the potential of advanced technologies such as artificial intelligence (AI), machine learning (ML) and intelligent document processing (IDP). As the world has seen in 2023, AI and ML have really started to come into their own, particularly with regards to tasks that need meticulous attention to detail but can be overwhelmingly tedious for people to undertake. By combining AI and low-code solutions, you can eliminate manual document processing and introduce remarkable transparency.
If these are not benefits enough, McKinsey sums up the inordinate importance of efficiency in business processes through AI, ML and automation in one sentence: “…when integrated with a process insights approach, tech solutions enable information gathering and analysis on a whole different level.” This is the true value of BPO. It creates a future of agile transparency that’s easy, accessible and relevant and it leaves behind the dull, the repetitive, and the slow in favour of fast, efficient and cost-effective.
FCTEC has been a leading provider of digitalisation and automation solutions since 2000. Read more about how FCTEC brings successful digital transformation initiatives to life and get in touch with us, today to begin your digital transformation journey.