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Hidden Costs of In-House vs. Outsourced Contact Centers

Benefits administrators and companies in insurance and financial services face an important choice: Should you run your contact center yourself or hire an outside provider? The visible costs of each option look simple, but many hidden expenses can really affect your budget and how well you operate. True Costs of In-House Contact Centers Companies usually focus on agent salaries when they calculate the costs of running an in-house contact center. However, this is just a

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The Rising Tide of Efficiency in Financial Services

Financial services firms face pressure to cut costs and boost efficiency. They must remain competitive while providing high-quality service. Balancing urgent tasks with essential operations can be tough. Institutions need to launch new products, keep up with technology, and offer a great customer experience. Managing all these functions in-house can be costly and time-consuming, making it harder to meet these demands. By partnering with an experienced business process outsourcing (BPO) provider for back-office tasks like

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Tap into BPO for Effective Digital Transformation

What does digital transformation mean today? It’s a big initiative that brings digital technology into every part of a business. Companies that modernize stay competitive and meet customer needs in a tech-driven world.  According to McKinsey research, an estimated 90 percent of all organizations are currently undergoing some form of digital transformation. However, making this shift isn’t easy. It takes a commitment to rethink and update processes, products, operations, and technology. A culture of adaptation

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Mitigating Benefits Compliance Risks through BPO

Since employer-sponsored benefits began in the 1970s, companies have struggled with the complexities of administrative compliance. Managing healthcare, insurance, and retirement plans requires staying current with ever-evolving regulations while protecting sensitive employee data. Non-compliance can lead to hefty fines, legal consequences, and reputational damage that impacts employee morale and recruitment. Partnering with an experienced BPO provider can mitigate these risks, ensuring regulatory adherence while streamlining benefits administration. Why Compliance in Employee Benefits Is More Challenging

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Maximizing Efficiency in the Employee Benefits and Insurance Industries

Business process outsourcing (BPO) has transformed industries by enabling companies to streamline operations, reduce costs, and focus on core business functions. In the employee benefits and insurance sectors, where accuracy, compliance, and efficiency are paramount, BPO has emerged as a critical tool for achieving operational excellence. Let’s explore the benefits, challenges, and future trends of BPO in these industries and review actionable insights for HR pros, insurance executives, and business leaders. BPO Advantages for Employee

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Choosing an Outsourced Customer Contact Center

In today’s business environment, more companies seek to outsource work to scale growth, become more competitive, and increase efficiency. In their search, companies are looking for the right talent at the right price, which is why business process outsourcing (BPO), including an outsourced customer contact center, is an attractive option for more and more of them. BPO firms typically have one or more specialties, such as customer service, claims processing, marketing support, lead generation, and

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Cultivate Enduring Relationships with a BPO Customer Contact Center

Retaining customers is essential, especially within the financial services industry, where digital banking and fintech advancements pose significant challenges. As traditional business models evolve, cultivating customer loyalty has become more critical – and collaborating with a contact center has become a strategic advantage for numerous organizations.  Customer retention is significantly more economical than pursuing new clients. According to research by Bain & Company (inventors of the Net Promoter Score), even a slight 5% boost in

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Accelergent Growth Solutions Adds Inbound Customer Contact Center

LITTLE ROCK (October 8, 2024) – Accelergent Growth Solutions today announced a services expansion featuring the addition of a full-service customer contact center to support client needs for inbound, white-label customer service including phone and email. “Exceptional customer service is the foundation of any successful business,” said Sheri Ellis, senior director of product and professional services for Accelergent. “Our comprehensive, white-label contact center services are designed to enhance customer interactions, streamline operations, and drive growth,” Ellis

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Accelergent Growth Solutions Expands Management Team

LITTLE ROCK (September 10, 2024)—Accelergent Growth Solutions is pleased to announce the appointment of Sheri Ellis as our new Senior Director of Product and Professional Services. Sheri brings a wealth of experience as a benefits technology leader, specializing in innovative solutions at the intersection of healthcare and finance. Her notable achievements include leading multi-TPA systems conversions, overseeing a $1.6 billion platform conversion, and managing extensive project queues. She is also known for her process improvement mindset

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The Role of BPO in the Financial Services Industry

role of bpo

Over the past decade, technological advancements, regulatory reforms, and changing customer expectations have transformed the financial services industry. Business Process Outsourcing (BPO) has emerged as a key tool for financial institutions to improve compliance, enhance client service, and increase agility. The Role of BPO in Compliance BPO ensures compliance with strict regulatory standards, allowing financial institutions to adhere to regulations while focusing internal resources on strategic initiatives. Navigating a Complex Regulatory Landscape BPOs can assist

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