Business process management asset for e-commerce

It is predicted the majority of all purchases are expected to be on the internet by 2040. eCommerce is opening up the door for countless entrepreneurs. 
But on the other hand, 
India has the third-largest startup ecosystem, yet 80-90% of Indian startups fail within the first 5 years of their inception. 77% of surveyed venture capitalists believed that most e-commerce startups aren't innovative enough based on cutting-edge technology or innovative business models. Like say in any ecommerce startup, It is believed that the lack of innovation could determine the success or failure of any ecommerce startup.

So, why do these ECommerce startups lack innovation? For a startup to be innovative, it has to be focused on core business or product. But while growing, you have to also think of setting up a business organization that functions smoothly and has happy customers. An efficient internal process needs enterprise software (ERP, RPA/IPA), a structured back end, and information systems. And to have happy customers, they need to resolve queries and assist customers at every touchpoint and channel.

If they want to have smooth operations, startups have two options: either they can develop it in-house or outsource to a BPM organization. Developing in-house will require technical expertise and human resources. A growing startup can afford to hire a limited number of people. And they can develop expertise in only a few technologies as it takes time, money, people, and most importantly, focus. Also, technologies advance rapidly, and if it's not your core focus, you will lag.

Similarly, they need to have a customer service setup and technology expertise to have excellent customer service. This setup will require hiring at scale with flexibility and techs like dialer, IVR, Decision Management System, Quality Management System, and Training management system. They need software like Chatbot, Voicebot, and Online reputation management to prompt customer queries. Additionally, they will need human executives to handle complex queries. It's clear how time and resource-consuming these non-core tasks can be, and that's why tech-led BPM can be a valuable asset to growing ecommerce startups.

What should you look in an ideal BPM

1. Expert in scope/requirements identification - Here the requirements are defined and mapped which includes planning, controlling and closing in which it defines the requirements, understand the objectives, and reach to a certain scope which helps in fulfilling the requirements successfully. In order to define a scope or requirements, there is need to follow a few steps: objectives, goals, sub-phases, tasks, resources, operations, Budget and schedule.
    
2. Quick/ Agile to implement the process change/requirements. - Agility is the capacity of a company to complete tasks like introducing new technologies and responding to seasonal changes quickly. A majority of businesses are unable to change or make changes quickly to respond to the demands of their customers. This is typical because they can't incorporate new technologies effectively into their current system, and as a result, entry into the market is becoming more challenging.
    
3. Quick in ramp up and take over on project.
    
4. Proactive and reachable as and when needed 24X7 - We have heard this phrase before “With great power comes great responsibility”.  They know the value behind providing 24/7 customer support and how it would contribute to satisfaction of their customers if enforced. There are always going to be issues, such as server crashes, network problems, and system crashes, etc. Considering that your organization has an IT staff in-house, the IT professionals would not be able to work the wee hours of the morning and if it does not coincide with their work hours. So a 24/7 IT service provider will definitely serve their purpose while still being cost-efficient for each of their clients.
    
5. Transparency - By using BPM services, you are able to maintain a record of any changes to your requirements, projects, applications, documents, and other process details related to the process, such as industry standards and new requirements. The information is available for all staff to view and provide feedback on.
    
6. Best in class quality service to them and their customers.
    
7. In order to respond on time and acknowledge a support request, automated responses are generated. Customers' feedback is collected and followed up.
    
8. Low cost, ROI. - Compared to implementing an in-house IT team, there is a smaller investment and better results, so is the ROI. There is no need for an extensive budget or long timeline to expand your team. It is possible to increase your team quickly with the help of trained, inexpensive agents who are experts in the work you'll need to complete. It is possible to outsource specific tasks or all of them so that the staff and you can concentrate on the most crucial business decisions and a growing ROI.

What makes FiveS Digital the best BPM Solution for your startup or ecommerce business?

• Streamline back-office operations and automate business processes to free up time for core business functions using our software. 
• We perform BPO services for banks, capital markets, and insurance companies. 
• Customer support is our priority too. Using multiple channels such as chat, email, and phone lets you stay in touch with your customers. 
• Utilize our best-in-class BPO services to engage your audience across digital consumer touchpoints. 
• You can reduce your variable expenses and streamline your business by utilizing our proprietary IT services. 
• You can access, update, and use HR information efficiently and effectively with our innovative BPO services and solutions. 
• Understand the root cause of the issues by analyzing the right metrics.

We have experience of 12+ years with Team Size of experienced 2000+ employees and have a leadership team of 125+ years of experience. Why don't you take advantage of all these best services for your online business? Call FiveS Digital and book your BPM services with us now without wasting any time.