Is Business Process Outsourcing Relevant for Your CRE Business?
The convergence of technology and globalization has changed the way that we do business. Every industry —from healthcare to automotive to commercial real estate— has been impacted as new opportunities in the global marketplace continue to emerge. One resulting trend is business process outsourcing (BPO).
If this sounds new to you, don’t worry —you’re not alone. When we hear outsourcing, we often think about traditional supply chain outsourcing. BPO is a subset of traditional outsourcing that takes specific business processes —such as human resources, accounting, and customer service-type responsibilities— and contracts them with a third-party vendor.
While BPO could be considered an emerging trend, it is becoming vital to the U.S. market. In fact, a report by Global Industry Analysts, Inc. suggests that the global market for BPO is projected to reach US$220 Billion by 2020, driven by adoption of new value added BPO services and exploration of companies into unconventional niche markets.
For those in the commercial real estate sector, BPO can make a lot of sense. Here are a few areas where BPO can drive costs down for CRE firms and related parties:
Is BPO Right For Your Firm?
If you’re wondering whether or not BPO is right for your organization, consider the following benefits that commercial real estate players often cite:
Allows You to Focus on What You Do Best — When you outsource your business processes, you’re freeing up valuable time that can be used to focus on what you do best: commercial real estate. Rather than get bogged down in the minutiae of back-office and administrative duties, you can spend your time focused on income-producing activities.
Immediately Improves Business Efficiency — With BPO, you’ll immediately see increased business efficiencies. BPO vendors are known for completing the same tasks in less time than internal staff, which is one of the biggest draws to outsourcing.
Helps to Establish Definitive Processes — BPO vendors can help you establish definitive processes that are streamlined and efficient, and can be scaled as needed to meet growth demands.
Saves on Workforce, Technology and Infrastructure — Outsourcing your business processes also allows you to save on workforce needs, as well as technology and infrastructure needs.
Finding the Right BPO Partner
Perhaps the most important step in moving some of your commercial real estate business processes out-of-house is finding the right BPO partner. At Integrand Analytics, we’re experts in the CRE and CMBS spaces and have consistently hired some of the top analytical talent in India.
We have become a preferred partner to a diverse range of clients including CMBS originators, balance sheet lenders, and commercial real estate brokers in the US, Canada. Our clients also include Fortune 500 companies. Connect with us today to learn if BPO is right for you!
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