Question

discuss, in your own words using 500 words or more, how the business process as a service (BPaaS) could reduce the risk for commercial enterprises

Answer 1

Today, any capability that a company may want can be availed from a BPaaS provider. With key experts working on their operations, several companies have been able to focus more on delivering better services and products. Here are seven benefits that only Business Process as a Service can give you:

1.Low Cost Advantages

The cost advantage that comes with BPaaS is one of the primary reasons why organizations choose it. Common IT costs can be drastically reduced because the software/hardware maintenance and support is handled by the BPaaS service provider. The cost of updating, upgrading and operating is also minimized as BPaaS service providers will know how to effortlessly handle such processes. When you choose BPaaS, you will only have to deal with minimal upfront costs and expenses.

2. An Increase in Efficiency

BPaaS has already successfully replaced legacy outsourcing, when it comes to HR, accounting, finance and customer support. BPaaS has developed with the growth of new markets, better mobility, digitation, analytics and automation. Always ready with the right resources and expertise to launce new projects immediately, Business Process as a Service can offer your company faster time-to-market. On the other hand, if your business were to handle the same capabilities in-house, you would have to spend more time and effort. This could add months or even years to a project. Through an increase in efficiency, BPaaS can give your company an unbeatable competitive advantage.

3.Better Focus on Core Business Activities

If your company is currently in a rapid growth phase, you will realize that you are consuming more resources at the cost of core activities, which made your business successful in the first place. Even with steady development, most companies will have to deal with limited expertise and time. However, with Business Process as a Service, organizations can focus on their core competencies. BPaaS has enabled companies to shift the focus from time-consuming and specialized activities towards processes that bring value to their clients.

4.Utilize Cloud Enabled Technology

BPaaS can bring your company better technology, know-how and infrastructure, along with improvements in flexibility and efficiency. BPaaS service providers can also maintain your cloud enabled technologies. This way your company can enjoy the benefits of cutting-edge infrastructure and technology, minus the cost. With Business Process as a Service, your company can make use of the best technology and resources for each in-house department.

5.Access to Skilled Experts

Finding staff for speciality projects can be expensive, while the work of temporary resources may not match your expectation. While some businesses prefer to hire only one expert, companies who choose BPaaS can tap into the potential of a pool of experts, eliminating the risk of failure. Today BPaaS service providers are specialized in varied industries with capabilities in legal, HR, IT, sales and customer support. Business functions can be completed at a much faster pace with better business results. Your internal resources can also get access to the latest in technology and external expertise through Business Process as a Service.

6.Time Zone Benefits

One of the most beneficial advantages of BPaaS comes from the difference in time between the location of the service provider and the HQ of the organization. A company can gain 24 hours of uninterrupted business operations, without facing any glitches.

7.Minimized Risk

With changes in the business environment, every new investment comes with a risk. With a BPaaS service, you can successfully minimize risk, as a team of professionals with extensive experience in new technology and processes will be deployed. Such expertise at hand, mitigates the risks that can come with new systems, growth or alterations in mergers. Business Process as a Service can not only bring in more capabilities, but also minimize your responsibilities and regulation concerns.

To conclude, BPaaS is all about finding the right source for each capability and staying ahead of the crowd.