Surviving the Recession 101: Keep Calm and Outsource
End-to-end ecommerce solutions providers in India: Without doubt, eCommerce has boomed in the last few years. However, with another recession around the corner, it is important for eCommerce businesses — even ones with a healthy cash flow — to navigate through the crisis the right way and position themselves for post-crisis growth.
We’ve come a long way since the economic downturn in 2008/2009. Today there are high-geared tools and technology that allow us to predict requirements, stem wastage, streamline workflows, reach out to a global audience and do so much more. Even so, we must be prepared to feel the pinch. ECommerce businesses can harness the power of new digital capabilities and the proven experience of Phykon, one of the best end-to-end ecommerce solutions providers in India, to scale operations and reduce the impact of the crisis that looms ahead.
However, adopting a cost-cutting strategy that is single-dimensional will rob your business of its growth potential. What you need is a multi-dimensional strategy partnered with known specialists, like Phykon, that will help save precious money, while ensuring growth and an assured recovery — What you need is a smart intervention.
Read on to know how you can thrive during an economic slump.
All too commonly, the first impulse is to lay off people, assuming this approach would reduce the burden. But it will not help in the long run. Instead, you can strengthen your business from the inside and make your business thrive — recession or not.
How? You can weather the recession and emerge successfully out of the crisis with the help of an effective outsourcing ecosystem.
Selective outsourcing — To not just survive, but thrive!
Partnering with complementary services via outsourcing is a profitable and sensible decision for any business. Why? Outsourcing is cost-effective. Plain and simple. Lower costs and greater associated benefits are the main reasons that motivate big brands to outsource business support solutions. Our clients partner with us for our proven expertise as an end-to-end ecommerce solutions providers in India.
Outsourcing offers a cost advantage that is hard to beat. Let’s have a look at just how much you can save when you don’t employ in-house — Salary, superannuation, leave costs, hiring, training, re-training, management, transportation and other costs will chalk up to a huge amount. Add to this office space, technology, Internet, electricity, equipment and other miscellaneous costs. Labour costs are low in some countries when compared to others. Hiring locally can sometimes be restrictively expensive. You can, thus, save on employment costs, property management costs and administrative costs.
Size does not matter
Large corporations vouch for the benefits of outsourcing. But start-ups and SMEs, especially, benefit from outsourcing. It reduces the burden on small teams and helps them grow without any hassle.
Large or small, scalability is important for businesses. And you can ensure this through outsourcing. Team size can be expanded to handle peak times during holidays or when call volume is likely to increase, and scale back down when call volume is low. And so, through outsourcing, businesses don’t have to make any additional investments in hiring, training, infrastructure or management just to handle peak times. That is, they can achieve seasonal scalability without any financial impact.
Ready access to professionals
Get access to skilled and professional resources with vast experience. You will always have a full team working for you. Outsourcing service providers always have a constant supply of talent that can be recruited quickly. Replacements and team expansions are done easily and instantly to ensure work continues uninterrupted.
Be there 24/7
Outsourcing also lets you be there for your customers 24/7. Round-the-clock support is a huge deal and can cost you quite a bit if handled in-house. But you can get it done for a fraction of the cost by partnering with an end-to-end ecommerce solutions provider in India like Phykon.
Outsourcing business solutions free up a lot of time for in-house employees allowing them to focus on more pithy jobs that require their attention. They can utilise this saved time for value-addition.
What can be outsourced?
Every business has different needs and so it is imperative to analyse and zoom in on the right solutions to outsource. Growth-focussed businesses tend to outsource the following solutions to deliver world-class quality, speed up service delivery and reduce overheads:
Call Centre Services
To be visible and accessible, businesses need to be where their customers are. You can do this through outsourcers that provide cost-effective call centre service support. Garner substantial savings by leveraging the power of multichannel, 24/7 customer support. At Phykon, customer service agents man multiple online channels and provide responsive support. This has been proven to reduce interaction costs and increase service efficiency. With Phykon, you can continue to deliver consistent and perceptive customer support or technical support, with uncompromised quality and without burning a hole in your pocket.
Outsourcing your call centre requirements to a reputed and experienced service provider is a desirable strategy for greater efficiency, reduced operational expenses and high-quality service delivery. This value proposition is what makes Phykon an outsourced call-centre partner of choice to several global companies. With over 15 years of experience, we know what it takes to improve process efficiency cost-effectively. Following strict quality standards, our process mechanisms are closely monitored and have been fine-tuned to deliver world-class inbound and outbound call centre support.
Staying current will help you provide good customer service that costs less. Updating technology and systems used to provide customer service can turn out to be costly. This may not be practical when you have internally managed customer service operations. Specialised service providers, like Phykon, stay updated on a constant basis. You benefit from our technology edge without the risk or expense. Performance assessments and improvement plans form part of service level agreements. This way you get to keep an eye on your extended team’s performance. We make call centre quality a high priority, giving you the best quality-monitored and cost-effective service.
Back Office Support
Efficient back office operations help businesses react and adapt quickly to changing business environments. Polish up your back-office functions and bring about operational efficiencies like reduced cost, faster turnaround times, and increased productivity. You can do this by outsourcing your back office functions to an end-to-end ecommerce solutions provider in India like Phykon.
Back-office operations are generally paper-intensive and labour-intensive support functions. It tends to take up a lot of time and resources. By outsourcing this function, you not only reduce costs and save valuable resources, but also benefit from professional services that boost your back office efficiency! That is a double benefit.
Phykon automates back-office tasks and enables you to eliminate inefficient, antiquated, paper-driven processes. It minimizes manual errors, saves time and allows employees to complete their work with greater ease. Manual errors, processing delays, tracking issues, repetition, poor communication or other inconsistencies can negatively impact customer experience, and in turn, affect revenue flow. Back-office automation is not only a cost-saving investment but also a customer retention tool.
By successfully implementing RPA in the right place, companies that deal with high-frequency, repetitive tasks can achieve 50-70% cost savings. Automation increases business efficiency with noticeable gains. Automated processes can run 24/7 — more gets done, in less time. Scale up or down, cost-effectively, depending on dynamic business requirements, to gain a competitive edge. Automated processes save big on time! And time is money. Bots help your employees do their tasks faster and easily saving hundreds of productive hours translating to big financial savings.
A well-configured bot will eliminate errors, ensuring consistency, compliance and security. Machines are not prone to fatigue or distractions. And reduced human involvement can mean a further reduction in errors. Errors can mean expensive fines, revoked licenses and costly run-backs or fixes. These can be avoided entirely through automation processes.
Improve customer satisfaction. In the end, the customer stands to gain from the outcome of a faster, more accurate and superior automated process. They get better assistance, refined products and a more consistent customer experience. Automation greatly aids customer acquisition and retention, bringing in more revenue. RPA eliminates obstacles employees face when trying to resolve an issue. Multiple tools and applications can be aggregated giving a single view of the customers’ history.
You can streamline work, making it more measurable and compliant with standards. You will see reduced errors and simplified processes. Better division of work, improved communications and increased accountability are some of the compelling benefits.
Order Management Services
Generate quick efficiencies and long-term results by outsourcing your order management functions. Instantly improve service delivery goals, achieve faster turnaround time, eliminate errors, increase revenue, ensure cost savings, overcome resource constraints, improve customer service and boost brand reputation — Achieve all this in just one move and for the fraction of the costs you would chalk up in-house.
Managing all aspects of an order’s lifecycle from receiving an order to ensuring accurate, on-time delivery is no mean feat. But you can ensure efficient order management through Phykon’s proven, RPA-powered, result-oriented Order Management Solution, Phykon Direct. As an end-to-end ecommerce solutions provider in India, our order management solution plays a key role in our clients’ operations. Phykon employs the power of automation and the expertise of an accomplished panel with more than a decade of experience in order management. Heightened visibility combined with the collaborative capabilities of the system cuts down time, boosts productivity, eliminates errors and increases efficiency.
Do not let the recession stall your marketing efforts. Stay on top of consumer minds. They will recall your brand and stay connected even if they are unable to buy from you during a low phase. So focus on branding and marketing and continue promoting your products and services. It doesn’t matter if you are a local business with a small marketing budget — the possibilities are endless. Phykon’s digital marketing services will help you choose the best marketing strategy that gives your business a better ROI. You’d be surprised at the untapped opportunities out there that you can leverage today! Subject matter experts can work with your team to identify the right marketing strategy for your business.
Engage in smart partnerships
It is still not too late to reinvent your online business’s service delivery. Leverage the process knowledge and proven expertise that Phykon brings as an end-to-end ecommerce solutions provider in India. Achieving cost-containment, flexibility and greater efficiencies, while not being burdened by huge overheads — that will prepare your business for what lies ahead.
With outsourcing, you are looking at better, and less expensive, resources. When you need to grow, but lack the resources in your location, getting it done through an agile and experienced service partner would help you make smart cuts. And with smart cuts, you not only improve your cash flow, but also make your offering more affordable for your customers without compromising on quality.
Phykon has been handling critical projects for more than 15 years, adding to our expertise in various areas — IT, Back office, Finance, Accounting, Customer Service Order Management, Digital Marketing, and more. So we know the challenges faced by businesses in various verticals. We are into Best end-to-end ecommerce solutions providers in India.
We’ll help you weather the tough times recession brings, and you will emerge from it stronger and much ahead of your competitors. Contact us today to know how we can target your unique requirements.