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What is the role of Banking BPO in India? Answering the need of time, companies in India are providing many BPO banking services. Their main focus is on speed of implementation and process advancement with quality control. Banking BPO in India is providing various services like loan mortgage, consumer finance and financial market and credit cards. Banking is no more than just a place for financial transaction but involves many vertical functions of Banking BPO in India. The major solution Banking BPO in India provides is as follows: Recording Client Verification Paying off Loans Collections Telemarketing service Processing addresses Request customer Services Resolving queries Responding to client via email or chat The major challenges faced by Banking BPO in India companies are as follows: Apparent lack of management Service agreement disagreement Efficient management Risk Management Privacy ownership of client Incorporation of outsourced processes with business processes Effectual Control
Mortgage Lending Accounting Outsourcing in India, and its prospects: Accounting outsourcing in India is a new entry in Business. Companies into providing Accounting outsource are responsible for maintaining financial accounts, creating financial reports, entering data and managing accounts daily. Many competent and well-qualified professionals, of leading companies, are trained to manage accounting jobs for a business organization. The reason behind receiving these jobs is the low cost expense an MNC has to bear. Major countries in accounting outsourcing are China and India, they operate at a very low rate of service. It is extremely important that the credibility and accountability of a company is checked before handling important responsibilities of banking. One more important aspect is data security, hence checking security systems are also important and confidential documents would be shared. The various services provided by accounting outsourcing firms in India are basically intended to meet the tax, accounting, consulting and financial management needs of foreign and domestic companies. These companies perform the bookkeeping and accounting or can also replace the existing staff in order to reduce the usage of administrative time. Accounting outsourcing in India helps foreign firms to concentrate on better functions and tasks. These companies mainly provide the following solutions: Carrying out internal audits Prepare Financial statement Maintain general ledger Assist in monthly & year-end closing Prepare sales tax return Carry out account reconciliations.
Bookkeeping task Payroll processing Accounting systems design Staff training Preparing schedules for depreciation Assisting in accounting software Excel Infoways staff is experienced in helping clients with accounting outsourcing and relieving them for administrative functions, thus improving productivity of the client firms. Excel Infowaysboasts of the quality it provides and a dedicated team of experts for each client, in turn providing security and data reliability. It also is well-equipped with the required financial and accounting solution softwares, hence performs these tasks faster and accurately. While thinking of anAccounting Outsourcing in India and banking BPO services, Excel Infoways stands out in the industry due to its cost effective and customer service competencies.
BANKING BPO Banking Business Process Outsourcing brings maximum results and lowers your operating cost. It helps your company be more flexible and helps you concentrate on core competencies. Moreover, your key staff is freed from performing noncrucial processes, which means that they can invest more time and energy in building the firms core businesses. In these tough times, banks and other financial institutions must look at every possible way to improve company performance and efficiency while keeping costs at a low level. Banks and other financial institutions
will clearly withstand the storm by outsourcing banking operations instead of building entire facilities or departments to delegate these activities. BPO BANKING PROCESS Banks traditionally generate profits from bank deposits. However, due to the onset of global financial crisis, depositors are expected to hold on to their money and make less bank deposits. This is why financial institutions need to concentrate more on credit collection, maintaining non-revenue generating assets at a low level and providing a way out to people who have bad debts while keeping costs and expenses at a minimum. This is where product sales, lead generation and extra marketing come in to help the company specialize on core competencies or diversify to create income. MORTGAGE BPO Our Mortgage Process Outsourcing services consist of lead generation, custom list building/data mining and CRM lead management of the front end. Our back end mortgage process outsourcing covers loan origination, loan processing and IT software solutions. BPO FOR THE BANKING INDUSTRY Most banks are beginning to realize that they can minimize operating costs by outsourcing their non-core business processes. Depending on whether they employ US BPO firms or overseas facilities like our BPO Philippines location, they can save considerable amount of time and money. Other banks would employ a mix of outsourcing and insourcing to minimize operating costs. BANKING INDUSTRY INSOURCING VS. OUTSOURCING Insourcing is assigning a companys non-core activities to a separate unit that is under its control, whereas outsourcing means delegating these activities to an external unit that can manage and control them. If your company has a number of non-critical processes, like in a bank, then it is better to outsource. However, if your company is involved with production, then go for insourcing to gain better control. Call Com Inc. specializes in setting up business processes that offer solutions like on-site training, internal CRM software solutions, call center management and BPO management services. These projects will help your company become efficient and effective. Your company may also want to use a combination of these two to get the best of both business solutions.
Banking Process Outsourcing Mortgage BPO Lender BPO Mortgage Processing Outsourcing Loan Origination Outsourcing Finance and Accounting Outsourcing Customer Service Credit BPO Call Centers Banking BPO In USA US BPO Outsource USA BPO Attrition BPO Philippines CRM BPO
Business process outsourcing (BPO) is a subset of outsourcing that involves the contracting of the operations and responsibilities of specific business functions (or processes) to a third-party service provider. Originally, this was associated with manufacturing firms, such asCoca Cola that outsourced large segments of its supply chain. In the contemporary context, it is primarily used to refer to the outsourcing of business processing services to an outside firm, replacing in-house services with labor from an outside firm. BPO is typically categorized into back office outsourcing - which includes internal business functions such as human resources or financeand accounting, and front office outsourcing - which includes customer-related services such as contact center services.
BPO that is contracted outside a company's country is called offshore outsourcing. BPO that is contracted to a company's neighboring (or nearby) country is called nearshore outsourcing. Given the proximity of BPO to the information technology industry, it is also categorized as an information technology enabled service orITES. Knowledge process outsourcing (KPO) and legal process outsourcing (LPO) are some of the sub-segments of business process outsourcing industry. What is business process outsourcing (BPO)? BPO is the process of hiring another company to handle business activities for you. BPO is distinct from information technology (IT) outsourcing, which focuses on hiring a third-party company or service provider to do IT-related activities, such as application management and application development, data center operations, or testing and quality assurance. In the early days, BPO usually consisted of outsourcing processes such as payroll. Then it grew to include employee benefits management. Now it encompasses a number of functions that are considered "non-core" to the primary business strategy. Now it is common for organizations to outsource financial and administration (F&A) processes, human resources (HR) functions, call center and customer service activities and accounting and payroll. These outsourcing deals frequently involve multi-year contracts that can run into hundreds of millions of dollars. Often, the people performing the work internally for the client firm are transferred and become employees for the service provider. Dominant outsourcing service providers in the BPO fields (some of which also dominate the IT outsourcing business) include US companies IBM, Accenture, and Hewitt Associates, as well as European and Asian companies Capgemini, Genpact, TCS, Wipro and Infosys. Many of these BPO efforts involve offshoring -- hiring a company based in another country -- to do the work. India is a popular location for BPO activities. Frequently, BPO is also referred to as ITES -- information technology-enabled services. Since most business processes include some form of automation, IT "enables" these services to be performed. An offshoot of BPO is KPO -- knowledge process outsourcing. Considered by some to be a subset of BPO, KPO includes those activities that require greater skill, knowledge, education and expertise to handle. For example, whereas an
insurance company might outsource data entry of its claims forms as part of a BPO initiative, it may also choose to use a KPO service provider to evaluate new insurance applications based on a set of criteria or business rules; this work would require the efforts of a more knowledgeable set of workers than the data entry would. The current definition of KPO encompasses R&D, product development and legal e-discovery, as well as a number of other business functions. Also coming into use is the term BTO -- business transformation outsourcing. This refers to the idea of having service providers contribute to the effort of transforming a business into a leaner, more dynamic, agile and flexible operation. Financial & Banking Business Process Outsourcing Services : BPO India Outsourcing your financial and banking needs to India is a wise option since most companies do not have the resources or expertise to perform these activities in house. We can provide cost effective quality solutions. We have competent, professional, skilled experts to handle your financial and banking processes. There are several activities in a business that are not integral to it and these processes can be successfully managed through outsourcing. Several financial and banking services can be handled expertly by offshore companies. You can outsource our various financial and banking services.
What is Outsourcing? Outsourcing can be defined as the strategic use of outside resources to perform activities traditionally handled by internal staff and resources.: Outsourcing is a strategy by which an organization contracts out major functions to specialized and efficient service providers, who become valued business partners. Sometimes outsourcing involves the transfer of employees from the company to the outsourcing company. Why do companies outsource?
Here are some common reasons: * Reduce and control operating costs * Improve company focus * Gain access to world class capabilities * Free internal resources for other purposes * A function is time consuming to manage or is out of control * Insufficient resources are available internally * Share risks with a partner company In the early days, cost or headcount reduction were the most common reasons to outsource. In todays world the drivers are often more strategic, and focus on carrying out core value-adding activities in-house where an organization can best utilize its own core competencies. Main factors influencing successful outsourcing The critical areas for a successful outsourcing program are: *Understanding company goals and objectives *A strategic vision and plan *Selecting the right vendor * Ongoing management of the relationships * A properly structured contract * Open communications with affected individual/groups * Senior executive support and involvement * Careful attention to personnel issues * Short-term financial justification From this list open communications and executive support are of paramount importance in a successful outsourcing process. Additional consideration should be for a workable Service Level Agreement, which is openly available, to all staff involved. Open Communication Whatever the outcome of the outsourcing arrangement, managing change is fundamental to the success of the program. Assessing stakeholder requirements is the first part of this process, and having open channels of communications during this time are vital. Everyone concerned should be involved in the process. Executive Support Strategic objectives, such as outsourcing initiatives must come from the top echelons of a company. Senior management must articulate the goals and
objectives of the outsourcing initiative and communicate how the process will benefit the organization Todays managers are looking ahead and recognizing that the responsibility for ensuring the success of their enterprises outsourcing initiatives does not stop when the ink has dried on the contract, Unfortunately, this has not always been the case. A combination of uncertainty combined with a lack of attention to critical details has created a present day scenario where, according to The Gartner Group, 25% of outsourcing contracts will be re-negotiated or canceled within three years. Ongoing management of the relationship is important. Senior management must stay involved during the implementation of the contract. Not only should there be a clearly defined escalation procedure, but senior management should meet at appropriate intervals to discuss the outsourcing relationship. Meetings should also be held at the operational level to address the working of the outsourcing contract in practice, to identify and resolve any problems that have been encountered, and to agree on changes to ensure continued satisfaction The two-sided coin To outsource or not to outsource is a question you will probably ask yourself at some stage in your business life. If you havent already done so that is. Most of us find it very hard to let go of some aspects of business and put them into the hands of a stranger. I cant blame you for feeling that way if you do. I felt the same way when I first got my head around the concept of outsourcing. I had arrived at a crucial business road junction; it was either mental and physical burnout (again); or trusting some aspects of my business into the hands of other writers and expanding my business, despite all the risks. I choose option number two and I tell you why in a minute When first considering outsourcing, most people think about letting go of control and how this can affect the quality of work. Its the classic example of thinking that the other person cant do as good a job. I also call it the perfectionists syndrome and used to suffer from it myself. So we tend to freak out, thinking there is no way we can afford to lower out standards to work with others while being paid a fraction of the profits. But this isnt so. Who says your standards have to lower? After all, you will still be the one in the driving seat. No machine is perfect, not even humans If you are good at something, it is hard to let go of the reigns and give another person control. Fact is, that despite the quality of work you might provide, you can only manage what is physically possible within any given day. If you are sick, nothing gets done
If you are on vacations, nothing gets done If you are burned out, guess what? Nothing gets done Therefore at some point in time you will have to face the simple truth; to outsource and grow, or to keep on pushing your limits. The truth of the matter is, outsourcing is the ONLY way to grow your business to the next level. If you dont believe me, I encourage you to read the book:The e-Myth Revisited by Michael E.Gerber. This book is a true eye-opener. Unless you can increase your income with the help of software and machines you will always depend on the input of manpower. Since you can only physically work so many hours a day you are severely limited by time and your own inability to duplicate your efforts, unless you hire others to do it for you. Cons of outsourcing On the downside it will take a lot of your time to train your team to do what you want them to do. The more time you are prepared to invest into the training and setting up of systems that can be semi-automated, the easier this whole outsourcing thing will become over time. Be prepared to spend some of your valuable time answering team questions. I strongly advise you to document them for template creation so that you dont have to do the same things twice. The next time one of your team members asks you the same question again you simply hand them a template. Problem fixed. Time saved. The hardest part will be to let go of some aspects of your business. You have to learn to trust others to do as good a job as you if not better, and thats perfectly fine. At this stage Im not ready to give up the managerial control of my business, but this could possibly change in the future especially if I want to live the 4-hour work week. Outsourcing equals profits What many entrepreneurs fail to see is the fact that outsourcing will increase your profits, provided you keep a portion of the income for yourself. It is a conscious decision to re-invest your income into your business for future growth, and if you do it right, you will earn money while you sleep. How much money should you keep? This is a good question. From personal experience there is no right or wrong in the amount of money you should pay your outsourced team for the work they do as long as they are paid fairly, and according to their experience/abilities. My advice is to aim for at least 30% profits. This means if the client pays you $100 for project you should be paid $30 minimum. This is your payment for the time
you spent marketing your business, branding, communicating and advertising. In short, this is your income for lead generation. The best way to get a feel for the right profit margins is to just do it. With time you will get a feeling for the market and be able to gauge the pay vs profit split instantly. Where to outsource? One of the biggest questions people have in relation to outsourcing is where to find good people. My answer is, it depends on your niche. As a copywriter I have certain standards to uphold, and therefore all of the writers on my team are English-speaking natives. In this line of business its a matter of quality control. I have to be 100% certain my writers can handle content creation using proper grammar and spelling. For web design work and my own niche sites I employ two staff from the Philippines who are both awesome and hardworking. I found them on www.onlinejobs.ph (just in case you wonder). Business outsourcing has become very common in recent times (since the 1980s). By outsourcing, we mean the transfer of the daily business execution and/or management, either partly or completely to an external service provider. Over here, the organization is referred to as the 'client' and the service provider as the 'supplier'. Both parties sign a contractual agreement, which enlist the services that are to be transferred by the client company. Outsourcing management is required to maintain a healthy relationship between the client and the supplier companies. In general, outsourcing is implemented to lower the financial cost of the company. Some of the business domains that are normally engaged in outsourcing include accounting, information technology and human resources. Some companies do transfer their services like customer care (e.g. call center), telemarketing, market research and data entry. Though, there are many advantages of business outsourcing, there are also certain associated risks. Let's discuss in brief about the advantages and risks of outsourcing. Advantages of Outsourcing: Among the many benefits of outsourcing, the primary advantage is saving money.
The client can achieve maximum productivity with minimum cost. Other advantages of outsourcing are: Outsourcing is a way of risk sharing. By outsourcing your business enterprise to a third-party, you are minimizing the risk. This works in the same principle, as that of diversifying investments in various plans. By outsourcing some of the services, the existing experienced employees can concentrate on critical issues and/or core business activities of the company. In other words, it helps in problem solving and the overall growth and development of the company. In business outsourcing, skilled employees are hired at low rates, which in turn, makes it possible to hire employees in large numbers. Thus, increasing the productivity of the company. In addition, the quality and speed of the outsourced activities are increased. The client companies can save on taxes by hiring the right outsourcing companies. The client can continue their business operation without worrying about updating technology, which is a costly affair. Risks of Outsourcing: After the contractual agreement is signed, it is the responsibility of the supplier to look after the day-to-day business operations. With business outsourcing, the client company has less control over the services that have been outsourced and also the people who are rendering these services (to some extent). Following are some of the risks of outsourcing: There are chances of fraud by the third party. For example, there may be risk of data leakage, especially in IT companies. One of the major risks is the failure of delivering products in time. The third party may fail to deliver the products before the deadline incurring substantial losses to the client company. Many a times, the cost of transferring knowledge is very expensive. It is also observed that the productivity of the outsourced services is less in the first year of the agreement. Some new companies opt for outsourcing in order to speed up the establishment process. For example, initially, the company may not have enough manpower to handle the services or may be the company does not have sufficient money to invest in advanced softwares for the company to perform effectively. In such a
situation, outsourcing comes to the rescue. Outsourcing is also the best option, in case a company decides to expand and establish outside the residential country. Nowadays, there are professionals who can assist in determining whether a company requires outsourcing or not. Just as there are several reasons to outsource your passive income, there are also a few reasons to not outsource that you want to consider before doing so. Outsourcing can give you a clear advantage over your competition and can accelerate your earnings potential. It also has the ability, if managed correctly, to free up an enormous amount of your time that can be used to focus on creating additional streams of income. Outsourcing your work is not something that you should take lightly. You need to identify which tasks and jobs make sense to outsource and which ones should still be handled internally. Hiring contractors and outside help for your business must be planned and managed properly in order to be considered a success. It is not like you can just flip a switch and everything is automatically handled for you. While outsourcing your work can help transform your business into more of a passive income stream there is still some required work on your part. Here are 3 reasons to not outsourceyour passive income that you should think about. 1. Losing Control As soon as you outsource some of your work, you lose some of the control you once had. While this isnt necessarily a bad thing, entrepreneurs are use to being completely in charge. Now you must rely on others to complete work for your business. You will also be required to manage the work of your outsourced help to ensure the contractors are completing their work on time and accurately. 2. Lack of Business Skills In my professional career, I have worked with many IT contractors who develop various software programs. Some of the hardest working and most dedicated employees I know are temporary or contract workers. While most of these IT contractors are some of the best computer programmers you would ever meet, they typically have one drawback in common lack of business skills. Hiring outside your company to fill various temporary jobs brings in professionals with little understanding of how your business is run. Depending on the job, it could take some time to get them up to speed on understanding the business to allow them to complete their jobs. 3. Cultural & Language Barrier There are times when a contractors language or cultural background that is different than yours may cause a problem. For example, you probably wouldnt want to hire a ghost writer to create articles for
you who wasnt fluent in English for use on an English speaking website. The internet has opened up the channels to hire contractors and freelancers from all around the world, which has helped to reduce costs for you the business owner. At the same time, it has also introduced potential barriers you must consider. While the 3 reasons not to outsource your passive income listed above should always be factored into your decisions there are ways to avoid them. Taking the time to interview each qualified candidate and checking their references is a must. If you do your due diligence on the resources you plan to hire, you should drastically reduce any negative impacts. Another preventative measure that can be taken to avoid any conflicts with contract workers is to be an effective manager of your resources. Be sure to define your requirements and expectations with these resources before they begin work and set time lines they need to follow. Communication is the key and as long as you hired qualified and trustworthy candidates, it should make your job a lot easier! Oct. 21, 2010 The list of companies that outsource jobs is growing and appears to be the large corporations with headquarters in the United States. These American companies are part of the reason why the unemployment rates are climbing. The list grows longer each year as more companies seeking to cut labor costs send jobs overseas leaving more Americans without an income. American Corporations that Outsource American Jobs If the trend continues the Gross national product will disappear and more Americans will be below the poverty level. Some political parties blame this all on the Democrats but job losses have steadily increased for the last 10 years since no one is stopping it from happening. Corporate interests complain of high taxes, high labor costs but not many are invested in keeping America strong. Cheap labor in foreign countries and lower taxes are appealing however when you have a sluggish economy, and consumers who cannot afford to buy goods, the ultimate problem is finding buyers for all the cheaply made foreign products. Jobs, jobs and more jobs, everyone wants jobs. As young adults graduate from college they cant find a job. This is where small businesses shine since they are the biggest segment of the economy that create jobs. The small town businesses fueled by innovative entrepreneurs are the force that will create jobs. These entrepreneurs need stimulus and we need to help them achieve their goals. Most Americans agree they would rather buy American made products than sending their money to a foreign country. China has been the leader of cheaply made products but what is it doing to the American economy? Products imported
from China are cheap this is true, but they do not have longevity and end up in our landfills faster than every before. Durable consumer goods are a thing of the past and today you find your replacing your coffee maker every year, as well as other household appliances simply because they are cheap and of lower quality. For Americans to shift the paradigm the slogan Buy American is the only way to stimulate the economy. If you see any of these companies or purchase their products just know that they are part of the economic job drain and find alternatives. Heres 5 Reasons to Outsource Your Work: 1. Saves You Time: How much is your time worth to you? Is it worth it to you to pay someone $25 so you have the time to go to your kids sporting events or do something with your friends? Chances are, the answer is yes. Nobody can be everywhere and do everything at once all at the same. If your time is vital to you and it should be then outsourcing is a fantastic way to delegate those tasks that are the most time consuming and least rewarding. 2. Build a Team: Real estate teams not surprisingly typically succeed and long surpass over other individual agents in the office and region. Is it because theyre that much better? Not at all. They simply have more time to get more clients, and more clients always equals more sales. When someone else is licking envelopes and writing blog posts, you have a lot more time for networking events, making phone calls, and more. Usually once a team is established, they can get many phone calls and business just on their reputation alone. 3. Strengthen Your Weaknesses: Theres a excellent chance that as a real estate agent youre not an expert in web design. Maybe you are clueless when it comes to real estate video marketing. Its okay to not be a technical expert. But by ignoring these types of powerful marketing tools, you could be losing a lot of business. When you hire a well qualified expert to take over on these things, you can strengthen your weaknesses. Whatever you couldnt do on your own is now possible. 4. Make More Money: The saying Youve gotta spend money to make money can really hold right in this situation. While you need to be careful that your outsourcing budget is being spent wisely, typically the less time you are wasting on mundane activities like filling out the blank forms on your offices file folders, the more likely youll be able to spend time doing activities that really generate revenue and sales. If you marketed an extra 10 hours per week, you would likely pick up at least one extra client per week, if not more. That extra client could equal several thousands of dollars, not to mention potential referrals for many years to come. 5. Gain a Competitive Edge: Its quite likely that your competitors are NOT outsourcing. So many agents, even ones who are doing quite well, are worried to
take on the responsibility of hiring someone else to do their tasks. Being a few steps ahead of other agents in your area can truly make a difference on being successful and just being so-so. These are just a few of the many reasons to outsource. Im sure that many of you can add in reasons why you do or dont outsource. The Benefits of Outsourcing Do you want to maximize your revenue and minimize your expenses? Do you want to get access to specialized skills and services? Do you want to concentrate more on your core business? Do you want to save on money, time and infrastructure?
If your answer is yes to any or all of the above questions, you might be interested in outsourcing. Outsourcing has several benefits. Outsource and take advantage of the benefits of offshore outsourcing. Read the following benefits of outsourcing to find out more about how outsourcing can give your business a competitive advantage! 1. Take advantage of the cost-advantages! Outsourcing to countries such as India can give you access to cost-effective services. The same services with the same level of quality are offered in India for a much lower cost! This cost-advantage has increased the number of services that are being offered to India. Services such as call center services,teleradiology, medical billing, etc can help you save up to 60% of your total costs when outsourced! Getting access to high-quality services at a cost-effective price is the biggest benefit that you can get while outsourcing. Outsource and reap the benefits of outsourcing. 2. See an increase in your business Another benefit of outsourcing is seeing a big increase in your profits, productivity, level of quality, business value, business performance and much more. Outsourcing can help you see an increase in almost every aspect of your business. Outsource and see your organization experience an increase in every aspect with these benefits of outsourcing.
3. Save Big! One of the benefits of outsourcing is that you can save on every aspect of your business and increase your profits. When you outsource, you can save on time, effort, infrastructure and manpower. Since you don't have to invest in infrastructure, you can also save on making unnecessary fixed investments. Outsourcing removes the burden of changing or maintaining infrastructure. You can also save on capital expenditure. Outsourcing can also help you save on training costs, because you do not have to invest in manpower. These savings will help bring about an increase in your revenue. Your organization can also save on investing in expensive software and technologies. 4. Get access to specialized services By outsourcing you can get expert and skilled services. This benefit of outsourcing has been the key reason why several outsourcers opt for outsourcing. The function that you outsource may not be your core competency but you can find an outsourcing partner who is specialized in that particular business process. Your outsourcing partner will be able to provide more proficient services. This is yet another benefit of outsourcing, because if you perform all your business processes in-house, you will not be able to provide specialized and skilled services. Outsourcing can give you this advantage. Outsource2india is an organization that offers a wide range of specialized business process outsourcing solutions to global clients. Outsourcing business processes to us has enabled clients to cross-leverage our skills and expertise across industry verticals and technologies to achieve greater efficiency and quality levels in the outsourced process. At Outsource2india, we have dedicated teams that offer outsourced services across a range of services which include Call center, Data Entry Servicesand Engineering Services, Healthcare Services, Financial Services, Software Development, Research and Analysis Services,Photo Editing Services, Creative Services and Web-analytics Services. Outsource specific processes to our expert teams and increase your ROI. Contact O2I here. 5. Concentrate more on your core business One of the benefits of outsourcing is that your organization will be free to concentrate on your core business. By outsourcing all your non-core functions, your employees can be put to better use and you will be able to see a huge growth in your core business. 6. Make faster deliveries to customers Another benefit of outsourcing is that you can make quicker deliveries to customers. Your outsourcing partner will be able to provide faster deliverables and you in turn will be able to make quick deliveries to your customer. Faster deliveries can also help you save on time.
7. Improved customer satisfaction With timely deliveries and high-quality services you can impress your customers. Outsourcing can help you benefit from increased customer satisfaction and your customers will remain loyal to your organization. 8. Benefit from time zone advantages Outsourcing to countries such as India has a time zone advantage. Your night will be India's day. With this advantage, your outsourcing partner can complete critical work and send it to you the next day. Thus, your work is continued by your outsourcing partner even after your employees go home. This enables the work to be completed much faster and gives your business a competitive advantage. This is one of the benefits of offshore outsourcing. 9. Increased efficiency Another benefit of outsourcing is increased efficiency. Your non-core business functions will be performed efficiently by your outsourcing partner, while your core functions can be efficiently carried out in-house. Thereby you can achieve overall efficiency and see an increase in your profits. 10. Give your business a competitive edge! Outsourcing can help your organization gain a competitive edge in the market. You can also get access to specialized services for different business processes and thereby provide your customers with best-of breed services. Such strategic outsourcing can give your business a competitive edge among your peers. The benefits of outsourcing can give your organization a cutting-edge in the worldwide market. Outsource and take advantage of the benefits of outsourcing. 11. Outsourcing countries also benefit from outsourcing: Countries such as U.S, U.K, Norway and Australia amongst others can benefit by outsourcing. The economy of these countries has increased tremendously after outsourcing. In the U.S, after the outsourcing boom, the economy has increased, jobs have increased and the wages of American workers have increased. Types of Outsourcing One challenge every business enterprise faces nowadays is to find niches that generate the most income. Several companies are wary to venture on additional expenditures that do not promise considerable yield. This is the main reason why companies resort to outsourcing activities. Outsourcing is divided into three types: technology services outsourcing, business process outsourcing and knowledge process outsourcing. Technology Services Outsourcing Due to the fast-changing world, business enterprises find it necessary to invest on sophisticated technologies and systems. Technological innovations are fueling the
rapid evolution of business and economic models. Companies have to adapt to these changes in order to thrive in a competitive market. Some of these technologies include electronic commerce, network infrastructures, applications, telecommunications and website development. Investing on a whole new set of manpower to perform these tasks is apparently, an additional capital expenditure. In-house employees may perform such functions but not as good as getting a thirdparty firm that specializes on the field and are sure to be more cost-effective. Business Process Outsourcing Business Process Outsourcing, more commonly known as BPO started back in 1995 during the advent of internet business. It involves operational functions such as customer relationsmanagement, equipments, accounting, human resources, logistics, procurement, security, documentations, insurance, health care, manufacturing, and media outsourcing. In BPO, specific tasks, especially those outside the core competency of a company, is outsourced to a third-party firm. BPO can be further divided into two: front office tasks and back office tasks. Front office functions are customer-oriented such as marketing, customer service and technical support. Back office tasks are more on internal work (e.g. billing, payroll, purchasing). Other operations outsourced by enterprises include multimedia, bookkeeping, consultancy,data entry, proof-reading and editing, as well as medical transcription. As internet technologies advance, so is business process outsourcing. Knowledge Process Outsourcing A more sophisticated level of outsourcing relative to BPO is knowledge process outsourcing (KPO). This involves advanced research, analytical, and technical skills which means that providers are expected to work independently. It is also important to note that in BPO, all processes are still laid out by the client whereas KPO specialists are given managerial control. Examples of KPO include: pharmaceutical research and development, intellectual property research, content writing, and database development services. Among the three types, KPO is the older form of outsourcing and usually involves short-term and peripheral projects. BPO, however, is considered as the most popular among the three types especially if one is to consider that most
companies outsource business processes to offshore locations such as the Philippines. BANKING BPO Banking Business Process Outsourcing brings maximum results and lowers your operating cost. It helps your company be more flexible and helps you concentrate on core competencies. Moreover, your key staff is freed from performing noncrucial processes, which means that they can invest more time and energy in building the firms core businesses. In these tough times, banks and other financial institutions must look at every possible way to improve company performance and efficiency while keeping costs at a low level. Banks and other financial institutions will clearly withstand the storm by outsourcing banking operations instead of building entire facilities or departments to delegate these activities. BPO BANKING PROCESs Banks traditionally generate profits from bank deposits. However, due to the onset of global financial crisis, depositors are expected to hold on to their money and make less bank deposits. This is why financial institutions need to concentrate more on credit collection, maintaining non-revenue generating assets at a low level and providing a way out to people who have bad debts while keeping costs and expenses at a minimum. This is where product sales, lead generation and extra marketing come in to help the company specialize on core competencies or diversify to create income. MORTGAGE BPO Our Mortgage Process Outsourcing services consist of lead generation, custom list building/data mining and CRM lead management of the front end. Our back end mortgage process outsourcing covers loan origination, loan processing and IT software solutions. BPO FOR THE BANKING INDUSTRY Most banks are beginning to realize that they can minimize operating costs by outsourcing their non-core business processes. Depending on whether they employ US BPO firms or overseas facilities like our BPO Philippines location, they can save considerable amount of time and money. Other banks would employ a mix of outsourcing and insourcing to minimize operating costs. BANKING INDUSTRY INSOURCING VS. OUTSOURCING Insourcing is assigning a companys non-core activities to a separate unit that is under its control, whereas outsourcing means delegating these activities to an external unit that can manage and control them. If your company has a number of non-critical processes, like in a bank, then it is better to outsource. However, if
your company is involved with production, then go for insourcing to gain better control. Call Com Inc. specializes in setting up business processes that offer solutions like on-site training, internal CRM software solutions, call center management and BPO management services. These projects will help your company become efficient and effective. Your company may also want to use a combination of these two to get the best of both business solutions. Banking Process Outsourcing Mortgage BPO Lender BPO Mortgage Processing Outsourcing Loan Origination Outsourcing Finance and Accounting Outsourcing Customer Service Credit BPO Call Centers Banking BPO In USA US BPO Outsource USA BPO Attrition BPO Philippines CRM BPO How Banks Can Leverage Their Call Centers for Competitive Advantage Author: Stephen Pappas
With companies in the banking industry experiencing higher levels of customer churn than ever before, reliance on contact centers to maximize account holder satisfaction and retention has increased exponentially.
Additionally, as banks put pressure on their call centers to make greater contributions to bottom-line growth, agents who were previously focused on support must now take on the role of sales rep something they are illequipped to do. Many banks still struggle to fully leverage their call centers to build stronger customer relationships, and to serve as an alternate sales channel. However, the need to do so has become increasingly urgent as customers move their accounts from one bank to another at an alarming rate, and mergers, acquisitions, and closures run rampant within the market. So, what can banks do to transform their contact centers into strategic competitive tools? Find the Balance Between Self-Service and a Personal Touch Self-service Web sites are very prominent among banks and financial institutions. Yet, empowering account holders to help themselves to everything from funds transfers to account closures creates a new set of challenges for example, it hinders relationship-building and prevents opportunities to up-sell and cross-sell. Banks worry that they may be pushing customers too far down the path of independence. The repercussions of doing so could include stymieing banks efforts to become trusted advisors and providers of most, if not all, of their customers financial needs, said a consultant from leading financial industry analyst firm Celent. But, finding the balance between giving customers the convenience they demand, and maintaining one-on-one interaction with them, is not easy. Banks must approach this problem very carefully, using personalized outreach strategies in combination with self-service. Change the Way Agents Think In order to deliver the kind of superior service account holders demand, agents need to transform the way they think. Its not about answering questions, one at a time. Its about relationship building. Each and every call is an opportunity to increase loyalty and profitability by building a stronger bond with the customer. Training programs must encourage this mindset, and provide agents with the appropriate skills. Sell, Sell, Sell Todays banks depend on cross-selling to support expansion and growth strategies particularly as they diversify into other areas of financial management, such as insurance and brokerage. Yet, a recent survey conducted by OConnor and Associates found that agents at the countrys 15 largest banks attempt to cross-sell only 14 percent of the time. Cross-selling is a skill that is not so easy to master. So, agents must be empowered with stronger sales savvy so they can instantly identify an opportunity, and
intelligently recommend specific services and products based on a customers behaviors and needs. Increase the Focus on Performance Management A report issued by the American Bankers Association and Frontline FTR claims that contact center managers are too focused on issues like hiring and retention, and dont pay enough attention to crucial performance metrics such as customer satisfaction, achievement of sales goals, etc. As a result, the study states, there is a major gap between customer loyalty objectives, and actual retention rates. Thats why experts agree that supervisors need to focus as much on interaction quality as they do on agent productivity. In the next post, we will highlight the many types of tools and technologies that are available to help banks transform their call centers into strategic entities that provide a substantial competitive edge. Banking and Capital Markets Partnering with the right BPO provider brings capabilities and skills beyond just the BPO solution. We are a high-value deliverer. We not only deliver costefficiency, we have the industry business knowledge, assets and tools to enable a customized BPO solution tailored specifically for your organisations needs. We expand the scope of BPO benefits beyond cost to improve a financial institutions overall competitive advantage. In a market plagued by consolidation and decreasing margins, banks are under constant pressure to lower their operational costs. As a result, they are constantly evaluating processes that specifically represent their source of competitive differentiation and can be potentially outsourced. Banks and Financial institutions now have significant opportunities to leverage business process outsourcing (BPO) to enable their global strategies. Our BPO solutions for the banking and finance sector provide both voice and non-voice offerings across verticals and horizontals. We possess the expertise, knowledge and tools to offer a complete BPO solution specific to your enterprise needs. Offshore-based outsourcing is expected to bring cost savings of about 30-50% through productivity enhancements and process improvements. Apart from these, as our client, you stand to gain strategic long-term benefits like deriving business analytics for profitable growth and testing new value propositions for faster and surer go-to-market executions. Banking BPO offerings Our banking BPO services cover new account processing, regulatory requirements, transaction processing, account monitoring, reconciliation, issue
resolution, credit line revisions, investment broker support, collections and data analytics. Capital markets BPO offerings Our capital markets BPO services cover new account processing, transaction processing, reference data management, reconciliation and repairs, fund administration and performance reporting. End-to-end service offering We have the ability to offer end-to-end solutions to optimize efficiencies of scale. From integrated CRM solutions to business optimization services.
The banking section will navigate through all the aspects of the Banking System in India. It will discuss upon the matters with the birth of the banking concept in the country to new players adding their names in the industry in coming few years. The banker of all banks, Reserve Bank of India (RBI), the Indian Banks Association (IBA) and top 20 banks like IDBI, HSBC, ICICI, ABN AMRO, etc. has been well defined under three separate heads with one page dedicated to each bank. However, in the introduction part of the entire banking cosmos, the past has been well explained under three different heads namely: History of Banking in India Nationalisation of Banks in India Scheduled Commercial Banks in India The first deals with the history part since the dawn of banking system in India. Government took major step in the 1969 to put the banking sector into systems and it nationalised 14 private banks in the mentioned year. This has been elaborated in Nationalisationof Banks in India. The last but not the least explains about the scheduled and unscheduled banks in India. Section 42 (6) (a) of RBI Act 1934 lays down the condition of scheduled commercial banks. The description along with a list of scheduled commercial banks are given on this page.
NEW.. Banking and Financial Services Banks and financial institutions must outdo a growing number of competitors and meet the requirements of a customer base that is constantly demanding more personalization, better data security, and higher qualityall at lower prices. To solve these business-critical problems, 3i Infotech offers a wide range of end-toend, technology-enabled BPO services for the banking and financial sector:
Account origination / On-boarding services Payment processing services Back-office operations Receivables management services Verification services Scanning & digitization services Employee leasing services R&T services Printing management
Mailroom services How you benefit With 3i Infotechs outcome-focused methodology and superior domain expertise, your organization can derive significant business benefits:
Better TAT and reduced costs through continuous process improvement and automation Enhanced quality control via in-built controls, governance mechanisms, and gap analyses Significantly higher customer satisfaction with quality, on-time, innovative services Optimal resource utilization with operational support that resolves the competency gap and enables customers to focus on core business areas Robust and enhanced data security Incisive insights with real-time reports and analyses delivered through effective dashboards and customized workflow applications
The 3i Infotech advantage With 3i Infotech, you get the best in terms of expertise, resources, technology, and processes. We offer: Platform-based services and proprietary applications that reduce the Total Cost of Ownership A resource pool of several thousand professionals with deep domain knowledge and expertise Cost-effective business solutions via a hub-and-spoke connectivity model that enables a wide geographic reach An agile transition model Enhanced business intelligence systems with real-time MIS/reporting dashboards Outsourcing refers to the practice of one company contracting another to do certain types of work rather than using its own internal resources. Outsourcing typically involves the transfer of the management or day-to-day execution of an entire business function to an external service provider. Three notable types of outsourcing are application development, IT infrastructure outsourcing, and
business process outsourcing. Typically, outsourcers for software applications perform custom development, maintenance, reengineering, porting, integration, and other tasks. IT infrastructure outsourcers provide such activities as data center operations, network operations, backup and recovery services, and administration services. Business process outsourcers may offer call center services, or specialize in back-office tasks like billing and invoicing. Other outsourcing activities include: software development software maintenance data storage management services system administration services end user support of desktop PCs, laptops, and handheld devices web site, or application hosting.
Why Choose Outsourcing There are a number of reasons that drive companies to outsource some or many of the work activities. The list of reasons include: Lower costs (or lower total costs). Sometimes achieved through lower wages costs, but also through economies of scale by providing the same service to multiple companies. Improve service. Often, better educated or skilled people perform the task, and thus perform it better. Obtain expert skills. An outsource firm is allegedly an expert in that particular activity, and thus should be able to do it better than the customer. Improve processes. Given that outsourcers are very experienced at a particular set of processes, they can help the customer to improve their processes. Improve focus on core activities. Outsourcing frees management from having to worry about the inner-workings of a non-core activity. The customer focuses on their core competence, the outsourcer focuses on theirs.
How to Choose an Outsourcing vendor Experts point to the importance of investigating vendors thoroughly before signing any contracts. They recommend requesting documentation and other information to substantiate strengths, experience, and success in the following areas: Financial stability To withstand the fluctuation of the current economy the provider should be wellfunded and have a wide client base across which to spread costs. Organizations should ask themselves, "Is there a chance this company will close its doors within the next two years due to lack of capital?" Years in business While outsourced security services are fairly new, security products and companies are not. A provider with several years in the security business offers valuable experience and stability. MSS experience Clients should ask for biographies of personnel managing the MSSP. Note background and leadership skills, among other items. Effective leaders are capable of motivating team members to be disciplined and dedicated to the detailed security tasks. Customers While investigating, organizations should ask how long the average client relationship has lasted and ask for comments from existing customers regarding the services provided. Reputation Clients may take note of comments from third parties, such as analysts and industry trade writers. However, this should not replace a thorough, in-person investigation.
About Technology Evaluation Centers Inc.
Established in 1993, Technology Evaluation Centers, Inc. (TEC) is the first webnative technology research enterprise. TEC provides decision support systems (DSS) that enable stakeholders to objectively identify the software products that best fit their company's unique business and systems requirements, and that contribute most effectively to superior business performance. The current business environment for banking and financial institutions is characterized by the need to aggressively manage costs and risks, while continuing to innovate, by developing new products and services. Our expertise across the banking and financial services industry helps you manage risk, comply with regulations, enhance product features and manage business transformation challengeswhile reducing costs. We have been delivering strategic impact by way of increased productivity and continuous process improvements in banking and financial services organisations across Consumer & Corporate banking operations. We have service offerings in the across Consumer & Corporate Banking spanning the functions of Customer fulfillment, Payment processing & Collection & clearing Operations. Given below is a service matrix Productwise & Functionwise. CONSUMER BANKING Credit Cards Being a successful service provider for banking and financial services organizations which has amply strengthened our credentials as a BPO, we combine rich industry and technology expertise, and wide-ranging experience to our customers and make your cardprocessing operations (one of the most vital activities in the industry) easy and cost-effective. While doing that, we also ensure that your transaction costs significantly come down while you enhance your service quality. Instead of just streamlining processing transactions and producing statements, we offer a convenient assortment of back-office skills and technologies with inventive delivery channels, to help you offer enhanced value propositions to our clients. Major focus areas of our Payment and Credit Card processing services:
Maintenance Operations Activations Card closures Blocking of Lost & Stolen Cards Rewards Management
Auto, Mortgages & Personal Loans Backed by standing and expertise in the financial services industry, we offer highly skilled human resources, and proven technology and processes to meet your outsourcing needs in the Auto, Mortgage & Personal Loan Services. With our Business Process Outsourcing services for the sector, we alleviate your risks and help your business grow, while you manage your clients. We manage your affairs from loan origination, loan processing to account processing with the ultimate objective of decreasing your loan processing cycle duration and cost per loan consistently. The functions we manage include: Loan Booking Loan disbursements Help Desk Custody Operations Paymode presentations Pay mode swaps Portfolio Evaluation & Reconciliations Pay mode pickup & logistics
Retail Liabilities Some of the basic services provided by GNSA are Image based Account opening, Indexing of documents, data extraction, document tracking, Due diligence checks per KYC norms, and follow-up and archival of customer instructions for Saving, Current & Branch Banking accounts. As a premier technology led outsourcing company we provide services to clients 100% visibility to status and productivity. Insurance In the fast moving global economy, you have a choice: to stay put or stay ahead. The key to be ahead of your competitors in the constantly changing global
insurance environment, is to partner with a BPO Services expert that coalesce functional and industry knowledge with constant innovation and solution leadership. CORPORATE BANKING Through our Cash Management Services we actually facilitate faster movement of funds with the help of a wide network support. The major users of this facility are corporate customers of the bank with a huge retail customer base. Through hustle free coordination,payments received from retail customers of a corporate are effectively processed to optimize cash flow position and to ensure the effective management of business' operating funds. Collections With proven capabilities in process management, technology and analytics, GNSA has developed a comprehensive approach to collections. Our process driven focus utilizes a methodology to take end-to-end processing to a deeper level. This broader vision diminishes revenue loss with increased collections capabilities while enhancing the customer experience. Core Collections The challenges facing the collections process are increasing. An uncertain economic climate makes collecting outstanding funds more difficult. Delinquent debt is rising while top line growth is slowing. To improve results, companies need a strategic partner who can deliver improved collections efficiency. By blending patented digital technology, a talented workforce and deep industry experience, GNSA provides a process driven approach that optimizes the debt recovery process and increases the pace of collections. Following are the offerings in Core collection services, Data trend & Analysis Portfolio Allocation Telecalling Pick ups Skip Tracing Investigations Collection Operations Individual banks today are at a diverse level of development, in terms of business
growth, product pricing, customer mix, asset classification, and technology infrastructure. To address these needs, we provide individualized and customized solutions, thereby allowing banks to focus on core business activities. We have developed comprehensive functional expertise in the following areas, Due Diligence on third party field collections One Time settlements Card Rewrite Operations Field Collection reconciliations Legal Correspondence
CLEARING OPERATIONS We offer complete Cheque Processing and Complete Clearing operations to our esteemed clients. We also facilitate processing of cheques as required by the clients. Data entry of the deposit slips is done by us and the records are maintained withaccuracy. We are capable of handling multiple clearings with clearing specific rules in a single day. Post-Dated Cheque Processing and end to end solution for MICR, nonMICR and CTS clearing solutions are also offered by us with unmatched expertise meeting the market standards. We provide an efficient and effective Cheque Truncation System, an image based cheque clearing system in which scanning is done upon deposit and the electronic image is transferred throughout the clearing cycles. The functions that we manage includes, Inward clearing Outward Clearing ECS presentations RTGS / NEFT Cheque Truncation System (CTS)
Communication Services To remain competitive in the global economy, you need to concentrate on what made you successful in the first place your core business. You can't afford to expend valuable time and energy managing transactions and non core processes that could be handled by other specialists. We can provide the strategy; solutions and services you need to solve your complex business issues, achieve results and maintain your competitive advantage. Our full portfolio of BPO solutions will help you improve customer loyalty, drive revenue growth, maximize operational and organisational efficiency, integrate your business processes and applications, and save your money. We have the capability to deliver optimum value in BPO solutions because of our : Domain expertise Process excellence Best-of-breed applications and alliances Economies of scale Globally secure network. Outsourcing BPO - The Benefits British Trade and Industry Secretary, Patricia Hewitt, at a national conference of the Confederation of British Industry (CBI) said, "It is much easier to see the short term benefits of protectionism than to see the long term costs to consumers and business competitiveness." This is the crux of the pro-outsourcing argument. Outsourcing BPO Services to India offers benefits not only in terms of cost reduction, but also in terms of increased productivity and quality. Companies along with their customers benefit since they can access some of the best talent and expertise in the industry at lower rates. Outsourcing BPO to India - The Cost Savings Bob Beauchamp, BMC Software President and CEO talked about the backlash in the US where an economic rebound had not created jobs. Addressing the Product and Embedded Software Summit in Bangalore he said that there may be a backlash, "But as studies have indicated that for every one dollar invested in India, the value derived by the US economy is between $12-14." He termed outsourcing
to India as "irreversible" and said it was a "must have" to improve the Indian and global economy. NASSCOM has tried to address some of the concerns voiced by anti-outsourcing parties especially about the benefits to the American economy. The study shows that US businesses have witnessed significant cost savings by offshoring to India. The US banking, financial services and insurance (BFSI) sector's costs are 710% lower than that of its European counterparts American BFSI companies have saved $6 billion in the last four years by offshoring to India. Outsourcing BPO to India - The Value Addition The NASSCOM study continues to explain the added benefits. BFSI offshoring has resulted in quality and productivity gains of 15-20% and customer satisfaction of almost 85%. The report gives a striking example of the success of the automobile industry in the US due to outsourcing. Today, this industry is the largest in the world and two of the biggest automobile companies are American. The industry has the same number of professionals it did in 1994 as it did in 1974, which is 900,000. Over this same period sales and services in this sector grew 20% from 2 million to 2.4 million. Outsourcing gave this industry a competitive edge and opened up opportunities in terms of investing in new equipment and re-engineering processes. The US steel industry, however, resisted outsourcing and suffered greatly despite several tariffs and quotas. Outsourcing BPO to India - The Long Term Benefits Amidst the mounting furor against outsourcing one has to examine things more objectively. In the short term, cost benefits and value addition may not be apparent because of the initial investment involved in training and infrastructure. Also outcries against migration of jobs seem to cement the argument. However, as the NASSCOM report shows, the long term benefits are very powerful. Not only does outsourcing BPO to India allow global companies to avail of some of the best talent and expertise at competitive rates, but it also allows the company to actually save several jobs, which it might have had to lay off otherwise. Outsourcing BPO Services to Outsource2India Minimize your operating costs and maximize your revenue by outsourcing your BPO services to Outsource2India. O2I offers high-quality BPO services that can add value to your business and increase your productivity. Outsource BPO services and save on time, effort and manpower. You can also get access to
expert, skilled and specialized BPO services. Outsource BPO services to Outsource2India and give your organization a cutting-edge! BPO Services BPO services India is one of the fastest growing segments of the Information Technology Enabled Services industry. BPO services India is growing at high rate and delivering employment to peoples and collecting excellent revenue. BPO services India consists of Data Entry, Data Comparison, IT Enabled Services, CRM Services, and Audits etc. BPO services India is growing due to skilled manpower, quality of work, educated youth and good communication and technical skills. BPO services India has achieved higher productivity levels due to excellent back office processing. AlsoBPO services India is able to offer a 24x7 services and reduction in turnaround times. This is possible due to Indias unique geographic position. Many states in India are offering incentives and infrastructure to set up IT enabled services. BPO services India is growing as they provide low cost, economy of scale, risk mitigation and better utilization . Benefits of BPO Services India An important aspect of business process outsourcing is its ability to free corporate executives from some of their day-to-day process management responsibilities. BPO Services India can reallocate their resources, reengineer process and capture new efficiencies. BPO Services India providing 24x7 services for the benefits of clients. BPO Services India reduces cost and overall expense thereby increasing profits. BPO Services India also enables you to make fewer capital investments. BPO Services India allows your organizations to focus on your core business and they are taking care of your back office business. BPO Services India Improve productivity and operational efficiencies. Mortgage BPO: Most mortgage BPO vendors focus on Mortgage Processing Market. BPOs Mortgage service offerings are designed to meet the needs of mortgage banking institutions dealing with the challenges of rising interest rates, increasing instances of borrower default, shrinking origination and refinance volumes and competitive pressures.
Mortgage BPOs manage processes across various parts of the mortgage value chain, from origination and fulfilment to secondary marketing. Some vendors provide high-end services such as analytics and investor reporting. The current market for mortgage processing lies between $6 to 7.4 billion while the existing BPOs address close to $ 500 million. Analysts expect this trend to accelerate, as labour costs constitute a significant portion of the overall costs that mortgage banks incur in servicing clients. Offshore outsourcing for mortgage BPO is expected to generate cost savings in the range of 30-50 percent, while customers experience cost savings ranging from 20% to 50% over the life of the contract. Essentially the functions of a mortgage BPO can be clubbed under four distinct headers; New Business Acquisition, Appraisal Title Checks, Underwriting Disbursement and Servicing Collections Maintenance. Major activities under the heads are listed below New Business Appraisal Underwriting Servicing Acquisition Title Checks Disbursement Collections Maintenance Inbound/outbound Credit checks Credit Overdue enquiries evaluation collection calls Loan form data Property Appraisal Asset entry valuation amount Management Collateral checks Title checks Checks for all Overdue other payments supporting processing Property Money Accounting Insurance disbursement and checks reconciliation Legal clearances Outsourcing Center Mark World focuses on integrated end-2-end outsourcing and delivers to its clients through reduced costs, ongoing productivity improvement, and process Billing
reengineering. We Integrate technology with BPO. We assist our clients by managing their business processes to world-class standards, while saving 25% to 50% annually and allowing them to focus on much more important activities. Our team partner with the client to impact their business goals by enabling them to focus on their core functions rather than spend time on peripheral and peopleintensive processes. Mark World serves with strong domain knowledge and quality driven processes. The services are tailored to suit each Clients specific requirement and integrated to provide end-to-end solution via multiple delivery centers. We do the same job better and efficiently and ultimately eliminate nonvalue adding tasks. We offer customized service offerings: translating into the most flexible and cost effective services of the highest quality for our customers. Mark World has deep expertise in delivering process specific solutions in areas like Finance & Accounting, HR Services, Knowledge Services, Mortgage Loan origination, Insurance Claim processing and Data Entry Outsourcing Processing & Transaction processing services. Branding Branding is a key marketing issue for any company facing challenges to stand out amid competitors in today's market environment. Branding in the right direction is essential for any company, and this achieves one of the key management objectives to increase corporate value. Brand Consultant, MARK WORLD provide clients with Integrated branding solution covering brand strategy development, designing, communication, media strategy and brand marketing that gives client a clear and measurable competitive advantage over competitors and further resulted in creating brand awareness, stronger brand image, and lasting brand equity. Keeping in focus client's corporate strategy and key elements of branding, we develop brand strategy that fits client's corporate and product personality. We develop integrated branding solutions firmly grounded in customer needs and objectives as well as in the companys overall business strategy. Our design and communication partners further adds expertise to help clients with designing and communication solutions. Since 2002, MARK WORLD has been involved in numerous branding
assignments across a wide variety of industries. This involvement provides us with unique insights into customer's perception, how they are changing and how they become loyal to brands. International Marketing International marketing is a serious issue for most growing companies in today's interconnected global economy. Whether to enter in to Global market or not, where to and how to, are the major questions for companies willing to expand into international markets. MARK WORLD provides expert solutions to all those questions and help clients to expand in to international market with sustainable and profitable sales growth. We provide end-to-end solutions right from identifying the target market to developing entry strategies which gives client a rapid success in International Market. Our international marketing consulting practice covers International Market Research Our research experts conduct International market research to identify target market and market situation analysis that help clients in developing entry strategy. We have wide network of primary and secondary sources globally which enable us to conduct market research within any Global geographic location. International Marketing Strategy We help client in developing International marketing strategies including market entry strategy, positioning strategy, product strategy, pricing strategy and promotional strategy according to target market needs that helps client in entering and developing international market faster and with sustainable sales growth. Implementation Support We do not keep our clients in middle of the way but also help them to reach at the destination by providing strategy implementation support. Our experts work with client at each stage of strategy implementation to produce expected results and achieve objectives. Our Implementation support services includes, Preparing action plan & controls Developing marketing organization structure Periodical sales & market analysis
Training & motivating sales & marketing personnel Monitoring & supervising action plan Performance measurement Keeping ourselves updated with present global economic and market situation, and also expertise and wide experience in International marketing, we have sound track record of our International marketing consultancy services. Since 2002, MARK WORLD has been involved in more than 40 International Marketing consulting assignments across a wide variety of industries. This involvement provides us with unique insights into international market environment, how they are changing and how they will be offering opportunities for our clients. IT & ITES Consultant Indian Software industry has made significant contributions to the world of IT. MARK WORLDs IT & IT Enabled service practice helps IT companies, Software companies for their strategic marketing issues, including marketing strategy development, market research and developing International Market. Our IT & IT Enabled Service Marketing Consulting practice covers IT & IT Enabled Service Marketing strategy Implementation support for IT & IT Enabled Service Marketing strategy and plan International Marketing of IT products & IT Enabled Service IT & IT Enabled Service Market Research in India and Global Market Branding of IT companies & IT Enabled Services India Entry Strategy Performance Management and Management Training Our clients call us for counseling on marketing strategy, analysis of market trends and competitive environment. We also help companies find ways to grow and provide strategic guidance, research, and analytical support in launching new products and services. Marketing Consultant MARK WORLD a marketing consulting firm, help clients to solve their marketing problems and achieve their marketing objectives with sustainable business growth. Founded in 2002, MARK WORLD has emerged as a leading marketing strategy consulting firm in India that specialized in developing and implementing results-
oriented marketing strategies and plan for marketing in India and International Market. MARK WORLD provides expertise marketing solution with the added dimension and know-how to implement aggressive marketing strategies and plan that produce results Market Strategy Developing a marketing strategy is vital for any business. Without one, all efforts to achieve marketing goal are likely to be haphazard and inefficient. MARK WORLD is specialized in developing and implementing results oriented Marketing Strategies that meet customer needs better than competitors and develop long-term and profitable relationships with those customers. MARK WORLD's marketing strategy consultants make in-depth analysis of client's current situation both in internal & external environment and collect relevant information of market trends, customer and competition to develop innovative and result oriented marketing strategies. Our marketing strategy practice includes, Business & Corporate Strategies Competitive Strategies Growth Strategies Segment & Target Market strategies Product & Brand Positioning strategies Product strategies Pricing strategies Promotional strategies Distribution strategies Implementation Support We do not keep our clients in middle of the way but also help them to reach at the destination by providing strategy implementation support. Our experts work with client at each stage of strategy implementation to produce expected results and achieve objectives. Our Implementation support services includes, preparing action plan and controls Developing marketing organization structure Implementing and/or improving marketing automation systems Periodical sales & market analysis Training and motivating sales & marketing personnel
Monitoring and supervising action plan Performance measurement Over the past 10 years, MARK WORLD has been involved in more than 100 marketing strategy engagements across a wide variety of industries. This involvement provides us with unique insights into customer needs, how they are changing and how they are taking buying decision. Keeping ourselves updated with present economic and market environment conditions, and also expertise in market research, we formulate results oriented and workable marketing strategy for our clients. Not only developing marketing strategies but we also help clients to evaluate existing marketing strategies, identify problems and give proper strategic solutions. Market Research Market research is an essential tool for developing viable strategies and plan, assisting management to take strategic decision and identifies opportunities available in market. MARK WORLD provides various market research solutions to Indian and foreign companies for their need of market research in India and global market. Whether to validate business idea and/or develop business plan, whether to enter in to new market and/or to develop strategies, our market research helps client in taking various strategic decision and develop marketing strategies. Our market research practice covers Strategic Market Research Market Opportunity Assessment Study Industry Researchs International Market Research Consumer Research Competition Research Customer Satisfaction Survey While working on market research project for our clients, we first understand client's core need of market research and after proper counseling we help clients to prepare research objectives. Focusing on client's research objectives, we conduct market research project applying our inherent expertise and experience in strategic market research for broad range of industries, delivers clients with a detailed market research report with all analytical findings and conclusions, and recommendations
Business ConsultantsMark World Venture assists buyers and sellers of privately held business in the buying and selling process. We estimate the value of the business; advertise it for sale with or without disclosing its identity; handle the initial potential buyer interviews, discussions, and negotiations with prospective buyers; facilitate the progress of the due diligence investigation and assist with the business sale. We provide a conventional full-service, commission-based brokerage relationship under a signed agreement with a seller or "buyer representation" agreement with a buyer. Mark World Venture works to facilitate the transaction and deals with both parties on the same level of trust. Company leverages new media and innovative strategies to deliver opportunities to stable and emerging domestic and international markets.
Types of services we offer: Assist client in establishing a MPSP Value- Most Probable Selling Price Valuation Conduct buyer searches Exposure - Marketing the business to prospective buyers Screen buyers for ability to complete a purchase Coordinate negotiations and provide deal structuring advice Provide overall deal management to guide the client through the entire process Help maintain confidentiality of the sale Hourly Consulting for a fee, based on the client's needs Mark World Venture allows owners to stay focused on running their business during the sale process