How to outsource data management

Data is the new oil, they say. It lubricates businesses, and life, in the digital world. The last few years have witnessed a quantum leap in data being created, as well as in the capacity of networks to carry data to the farthest corners of the world. It is also a resource. In fact, a rich resource of information that, if leveraged well, can deliver huge benefits to a company. In an increasingly competitive world, every business wants to squeeze every bit of advantage they can get from any resource. Data being a rich repository of, well, data, is being looked at with hungry eyes by businesses seeking to unlock the secrets hidden in it, and deliver business benefits. For data to yield its secrets to companies in a manner that makes it useful, it needs to be managed well. Not all companies are equipped to manage data. They can easily get overwhelmed by the volume and variety of data that comes at them from all sides, making the activity of generating all that data futile, since they are not positioned to manage and leverage it. It is a specialized skill. This is the reason many companies are turning to data management outsourcing solution providers for managing their data as a preventive measure, and also as a solution. With a focus on data and related BPO services, oWorkers has emerged in the short period of 8 years as one of the three best providers in the world, in its chosen space. Its clients around the world benefit from the expertise of its employees, in data-related processing areas such as social media moderation, data annotation, invoice processing, and data management.

Understanding data management outsourcing

For companies to be in a position to leverage the potential benefits of engaging an expert third-party for the management of their data, they should first have an understanding of what it means and entails. In simple terms, all you need to do is turn over the process of collecting data, storing it, and then digging into it to extract information relevant to the business. The provider may also be able to provide guidance on the methods of data collection as well as the information that ought to be collected through each method. In essence, your company and people can focus on your business, which is what they know and are good at, and can leave the data management task to a specialist who will possibly do it better than them. This is one of the core principles of outsourcing in any case, is it not? And they can do it at a competitive price point. Clients swear by the financial benefits that can be released by outsourcing to oWorkers. Some of their clients, particularly the ones from Western Europe and the USA, claim savings of almost 80% after taking their processes to oWorkers.

What is data used for

Everything. That is the shortest and most accurate answer. Companies use data to create new revenue streams and get existing ones to deliver more. They use data to modify existing products and services and create newer ones. They use data to create market strategies to drive performance. They use data to identify customer segments and create well-defined products for them. They use data to analyze feedback from customers and take action based on it. They use data to create better processes and release efficiencies. Like we said earlier…everything. And since this everything can now happen at any time, anywhere in the world, it helps to have a partner who can cover this duration. oWorkers is equipped to operate on a continuous schedule for meeting the requirements of its clients. 24 hours a day, 7 days a week, and 365 days of a year.

How is data stored – the commonly used systems

While potential partners will make a case for their storage services being the best, as the ultimate beneficiary of the relationship, you need to ensure that their method of storage is not only secure but permits access in a flexible, smooth manner. In other words, it permits access when needed. It permits access to authorized users but blocks others out. Which are some of the more commonly used tools for data?

Customer relationship management (CRM)

Creates an ongoing repository of customer-facing interaction and events. Also promotes engagement with customers. Can be used for tracking the status of engagement with a customer as well as for identifying needs and issues and selectively targeting customers.

Marketing technology systems (MarTech)

These are in the direct purview of the marketing teams. The term MarTech could be applied to a variety of systems such as marketing automation, email services, digital marketing, and others. In the ideal world, MarTech systems would operate in tandem with CRM systems.

Data warehousing

These act as repositories of data that could be collected from a variety of sources and often act as the master data source. The collective data is the final source of data for business decision-making. With the right partner, outsourcers can access the most updated tools that will further boost their efforts at leveraging data for making better decisions. oWorkers has courted and created a wide network of technology players. It is now in a position to access the latest in technology and leverage it for client work, in many different areas.

Benefits of outsourcing data management

Companies take decisions in a deliberate manner, not based on emotion or whim. Each decision is expected to move the company toward the attainment of its goals. A data outsourcing management engagement also needs to come out of a deliberate decision that can visualize benefits accruing to the company. What are some of the benefits that the outsourcer can hope for?

Focus on business

Rather than getting distracted with activities they do not have the competence for, staff members can continue to focus on their core business, which is what their capability set covers, and ensure it stays on track. Companies that take on data management activities, run the risk of not only doing it badly but also jeopardizing their core business. There have been instances when the leadership team of oWorkers, which has several decades of hands-on experience in the industry, acts as consultants for their clients and is able to advise them on their business.

Receive quality output

When you have a specialist doing a task, the output can be expected to be of a higher quality than would you would be able to produce yourself. The partner is able to provide inputs for your business that have the potential to benefit it in many different ways if acted upon correctly. They can reduce costs, increase revenue, or do both. They can enable you to understand customers better and create more effective products and services. With the world becoming smaller, and large companies operating across many different locations, it becomes important to understand what is going on in each place. In different languages. With their ability to support clients in over 20 languages, almost no data acquired by the client is wasted, with the ability of oWorkers to work in so many different languages.

Get access to the best tools

Investing in tools and technologies that are not core to a business is always a challenge. Not being a revenue generator, it often gets pushed down in the priority list, resulting in the process staying manual or relying on outdated tools and technologies. In addition, many companies may not have the scale to justify investment in tools that aid the task. The result is similar. They are forced to continue with less efficient manual processes or dated technologies. With oWorkers, you get both; the benefit of working with a partner that has the ability and willingness to invest in the latest tools, as well as the scale to justify the investment. oWorkers is also equipped to create a team of people at short notice, going up to a hundred additional resources within 48 hours.

What should you look for in a partner?

There are many providers of data management services. Not all may be equally good at everything. Hence, you need to be able to separate the grain from the chaff and zero in on a partner who will add value to your business. What do you look for in a partner?

Expertise in the area

Though obvious, this needs to be reiterated. Potential partners need to demonstrate their ability with the many factors that are critical to the success of business process outsourcing, such as the ability to access and hire resources at a reasonable cost, such as the network and technology for the work to be carried out smoothly, the project management and transitioning skills, the quality of the physical workplace, and others. As BPOs begin to offer specialized services, such as data management, it is equally important to ensure that they have the ability to deliver what they are promising. With a set of clients who can be referenced, and many who are willing to speak up for the quality delivered, oWorkers presents a compelling proposition as a partner.

Ability to secure data

In the digital world, the security of information has become a critical task. When we discuss data management, the criticality of the security of data gets multiplied manifold as data is all that we are dealing with. Data needs to be generated, accessed, harnessed and analyzed through processes that do not lead to unauthorized access leading to compromising its integrity and uniqueness. Access rights and access hierarchies play a vital role in keeping data secure. Security measures should be able to ensure that the right people have access to designated sections. Nothing more and nothing less. The super secure facilities & protocols that oWorkers operates from add to the sense of security clients have about their data. Its ISO certifications (27001:2013 & 9001:2015) further bolster its credentials. Adding GDPR compliance into the mix only makes it more compelling.

Can find the best resources

Just as everyone cannot become a mechanic or cobbler or cook without putting effort into it, the same is the case with data management. Not everyone can do it. It requires aptitude and mindset and needs to be touched up with training and practice. Companies hire resources based on their business needs, driven usually by the requirements of the industry they are in. Data management is not a part of these manpower requirements for most companies. When the need does arise, they may not have the right skills among their staff for it. With a partner, however, who does it for a living, the situation is different. They hire the right resources. In fact, they are able to identify the talent pools and skill sets needed in raw hires that constitute the right base skills that can be turned into quality resources with training. Since they do it regularly, they are also able to identify sources from which resources can be hired in a cost-effective manner. What is the result? Your business gets better quality, more experienced resources at a lower cost handling the job for you, producing outcomes better than what you would be able to achieve on your own. Talent acquisition is one of the core competencies of oWorkers. As an employer of choice in all the markets it operates in, it received a steady supply of walk-in talent at its offices, looking for suitable roles. Not only does this enable them to hire suitable people for various client projects, it also reduces their hiring cost, as they do not need to advertise to attract talent, which eventually results in better pricing to clients.

Advantage oWorkers

Working with employed resources, and not contractors and freelancers, is a choice oWorkers has made. With the help of its tenured staff members, oWorkers is in a position to move up the complexity curve in handling client projects. That its decision has not been misplaced is borne out by the 4.6 (on a scale of 5) ratings it regularly receives from both past and present employees, on external platforms like Glassdoor. oWorkers has been able to open the doors to the digital economy for many people from the disadvantaged communities it hires from. Your work will enable them to do the same for a few more.

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