Managing strategic partnerships and rebranding initiatives play significant roles in corporate transformations and customer experience enhancements.
In the current business landscape, many industries are incorporating captives or global in-house centers (GIC). However, it appears that the retail sector is bucking this trend, with a 4% decline in new GIC setups last year. Some speculate that economic woes and rapid technological advancement are prompting retailers to focus on their core, making strategic business process service (BPS) partnerships more attractive.
These partnerships can truly be a game-changer for organizations. They help organizations reduce costs, boost efficiencies, and tap into specialized expertise. With BPS partners, retailers can enhance the customer experience and remain focused on strategic growth and innovation. To put it simply, partnering isn't just about finding a partner; it's about starting a business metamorphosis.
A recent study by Everest Group, supported by Teleperformance, highlights the importance of engaging in strategic partnership management with BPS providers. By focusing on outcomes and meeting organizational needs, such partnerships ensure the highest levels of customer satisfaction.
Fast-forwarding this transformation requires a more intentional level of partnership between organizations and BPS providers, focusing on:
- Co-innovation to push boundaries and experiment with new ideas or concepts
- Reducing management overhead by delegating responsibilities to partners
- Optimizing costs by partnering with a select few providers and harnessing economies of scale
- Increasing flexibility by adjusting operations and geographical expansion as needed
- Defining long-term digital strategies and setting clear objectives
Yet, some concerns can slow the adoption of BPS partnerships. For example, fear of impacting in-house teams, or employee resistance, knowledge drain, and cultural discord, can be mitigated through rebadging. Rebadging is the process of transitioning in-house agents or employees to be managed by an external service provider. It allows companies to focus on their core competencies while outsourcing peripheral functions like customer support and HR services to experts at the forefront of technology and workforce optimization.
In essence, rebadging embodies empathy in business transitions. It preserves the lifeforce of the organization — its employees — as part of a new, constructive partnership. This move strengthens the company's focus on their core operations, enables them to benefit from advanced technology, and – most importantly – enhances customer experience through flexibility, expertise, and efficiency.
For those navigating these transitions, rebadging reframes the narrative by eliminating employee uncertainty. It ensures continuity while signaling openness to evolution and reaffirming a company's commitment to its people and culture.
Teleperformance, an experienced global partner, has successfully rebadged over 100,000 partner employees through hundreds of rebadging projects over the past 12 years. Choosing the right partner with the right capabilities, expertise, scale, and reach can make all the difference in successfully transitioning to an outsourced model, especially when involving the transfer of employees. This partnership strategy allows organizations to excel through a genuine joining of strengths, aligning with both authenticity and integrity.
- Amid the current business landscape, the retail sector is shifting towards strategic business process (BPS) partnerships instead of setting up global in-house centers (GIC), due to economic concerns and rapid technological advancement.
- In these strategic partnerships, organizations can leverage BPS partnerships to decrease costs, improve efficiencies, and gain access to specialized expertise, which in turn helps enhance customer experience and foster strategic growth and innovation.
- A recent industry study by Everest Group, in collaboration with Teleperformance, underscores the significance of engagement in strategic partnership management with BPS providers, focusing on areas like co-innovation, reduced management overhead, cost optimization, increased flexibility, and long-term digital strategy.
- Concerns about impacting in-house teams and cultural discord can hinder the adoption of BPS partnerships; however, the process of rebadging–transitioning in-house agents or employees to external service providers–can mitigate these issues, enabling organizations to maintain their core competencies while outsourcing peripheral functions to technology and workforce optimization experts.
- Rebadging embodies empathy in business transitions, preserving the organization's employees as part of the new, constructive partnership, thereby strengthening the focus on core operations, enabling access to advanced technology, and enhancing the customer experience through flexibility, expertise, and efficiency.
- By choosing an experienced global partner like Teleperformance, organizations can confidently transition to an outsourced model, especially when involving employee transfers, as this partnership strategy allows them to thrive by genuinely joining strengths, aligning with both authenticity and integrity.
