LTO Process

THE DIFFERENT SECTORS IN OUTSOURCING

As business realities change, an increasing number of companies are looking at ways to minimize costs. Outsourcing non-core areas to a skilled vendor like LTO Process Sri Lanka can be a viable alternative for them. Adopting this strategy can help the business reduce costs without compromising on quality.

Today, businesses are outsourcing a diverse range of services. These range from the relatively low-skill call centre services to market research and analysis, which requires expertise and skilled workers. In addition, Finance and Accounting Outsourcing (FAO) is becoming increasingly widespread as is medical outsourcing. From healthcare providers to software developers, everyone seems eager to leverage the benefits of outsourcing. An outsourcing expert like LTO Process Sri Lanka offers a wide range of services to suit varied client requirements. These services can be classified into different outsourcing sectors. These include –

1. Call Center Outsourcing
Typically, Call Center Services include –

  • Inbound call centre services – These typically include answering services that are available 24X7. Call centre agents can also be trained to up-sell and cross-sell services, take orders, and provide information on the benefits and features of products/services
  • Outbound call centre services – These include services like telemarketing services, lead generation services, and market intelligence services
  • Technical helpdesk services – This includes technical after-sales support for products and services, case open case close registration tracking/survey tracking system.

2. Knowledge Process Outsourcing (KPO)
A KPO typically provides domain-based processes and employs advanced analytical skills and business expertise, rather than just process expertise. Some research services include –

  • Market research and analysis – These services help the business extract useful information that reveals current trends and provides inputs for decision-making
  • Web-based market research – These services help collect information from different websites. As compared to primary research where data is directly collected from respondents, data is collected from secondary sources like government publications and newsgroups

3. Data Entry Outsourcing
All organizations, whether big or small, have data entry requirements. Data entry outsourcing can be divided into –

  • Online data entry – These includes services such as compilation of data from websites and e-books, updating online catalogs, and creation of databases
  • Offline data entry – These include services such as offline data capture, fillings of forms, forms processing, data entry from one format/version to another, MS Word document data entry, etc

4. IT Services Outsourcing
IT outsourcing typically includes outsourcing of software development. This may take the form of end-to-end outsourcing where all activities related to design, development, and testing are outsourced. In other cases, only a part or portion of the overall system is outsourced for development. This is in cases where the client does not have the requisite skills or technology for the development work.

5. Healthcare BPO Outsourcing
Medical outsourcing includes a diverse range of HIPAA compliant services. These include –

  • Medical transcription services – These include services to transcribe information from a variety of audio sources and file formats such as MP3, MPG, MOV, DSS, WMA, etc
  • Medical coding and billing services – These services are delivered using popular billing software like Medic and Lytec
  • Teleradiology services – These services provide 24X7 access to qualified radiologists

6. Financial Services Outsourcing
Accounts outsourcing services include:

  • Accounting services – These include preparation of financial statements for the statutory annual audit, cash forecasting services, and payroll services
  • Bookkeeping services – These include preparation and maintenance of both day-to-day books as well as monthly and quarterly accounts. It also includes preparations of different kinds of reports like sales reports
  • Financial analysis services – These include analysis of financial information such as financial statements, portfolio structures, and offer documents

7. Engineering Services Outsourcing
These include a range of mechanical, civil, structural, and architectural services:

  • Computer aided design (CAD) services to develop prototypes
  • 2D drafting services
  • Conversion of paper drawings into a digitized format
  • Design and analysis for residential and industrial buildings
  • Architectural visualization services (3D rendering or 3D animations)
  • Services for evaluation and strengthening of deteriorating structures

LTO Process Sri Lanka – Your ideal outsourcing partner

Different businesses may choose to outsource for different reasons. Minimizing costs may be the main objective for one company. Another business may choose to outsource certain non-core activities so that it can divert its own resources to strengthening its core competencies. Whatever your specific objective, LTO Process Sri Lanka can develop a solution customized to your unique requirements.