Developing Post-COVID Business Strategies for Driving Efficiency

As companies begin developing post-COVID business strategies, many are making decisions to move systems and processes to the cloud, digitize more and create remote work environments. As part of these efforts, companies are restructuring IT and technology processes across business functions and the roles of employees. This thorough review of workflows puts Business Process Outsourcing, or BPO, front and center as an option to realize business efficiencies and cut costs.

Our firm has an extensive BPO practice and we looked at our expertise in key areas of business operations that transfer value to our clients. BPO decisions should focus around three areas:

1. Time savings
2. Quality improvement
3. Cost savings

At Sirius, with our client’s objectives in mind, our services are designed around lowering software implementation and management costs, lowering headcount, integrating business processes or workflows with technologies and improving quality of enterprise requirements.

Specific to the oil and gas industry, companies depend on complex workflows around documents, accounting, and regulations. As companies identify BPO partners, they should engage in a disciplined approach to measure value.

Here are the seven key metrics we suggest you focus on:

1. Pricing matters –BPO services can be priced as a fixed charge or per unit delivered. Make sure you find the right structure for your business model.
2. Experience and expertise in BPO staff that showcases time-tested methodologies and structure for managing day-to-day operations.
3. Historic effectiveness of BPO processes engaged in daily transactional processes, reporting, and workflows around document-based tasks.
4. BPO structure that is flexible and able to keep up with the pace of change in the industry. Post-COVID, as companies deal with a myriad of new technology-based processes, existing workflows will be disrupted and BPO providers will need to drive or adapt to these changes.
5. BPO companies that are committed and held responsible for managing day-to-day operations so that company management can be strategic and worry-free.
6. BPO companies that are able to showcase cross-functional, operational, and technological capabilities.
7. BPO companies that develop best-in-class and standardized processes ensuring transfer value and thought leadership to clients.

The oil and gas industry is at the beginning stages of adopting cutting-edge technologies and software systems and revamping associated workflows. As the lines between IT and operations continue to blur and functions across an organization use technology to develop new workflows, companies should view BPO organizations as strategic, long-term partners for driving operational effectiveness and efficiencies.

Rakhee Das, Technology & Innovation Practice Leader – Sirius Solutions, L.L.L.P.

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