Glossary

The most comprehensive list of business process outsourcing related terms and definition.

Net Promoter Score (NPS)

Definition

What is a net promoter score?

The Net Promoter Score (NPS) measures customers in terms of their willingness to help promote or recommend a particular product, which may include other services as well. This gauges customer satisfaction as well as loyalty about a company’s product. The customers are given surveys that ask how they would rate a particular product or service to their friends or colleagues. They may choose between a scale of zero to ten. According to the ratings given by the respondents, they will be classified into three categories. These are the promoters, passives, and detractors.

Net promoter score for companies

The NPS is calculated by deducting the detractors’ percentage from the promoters percentage, which is the generated result or score in between negative one hundred and one hundred. The detractors are those whose scores are six and below. They may not find the products and services to be useful may not buy from the brand again.

Passives are those customers who gave a seven or an eight, and maybe quite happy about the product, but they do not find it to be excellent. These are the people who may have the possibility of switching to another company or brand if the other company may produce something better. Finally, the promoters are those customers who have either a nine or a ten about the product or services offered. These people are fans and could be purchasing from the same company repeatedly.

Outsource Accelerator has over 3,000 articles, 200+ podcast episodes, and a comprehensive directory with 700+ BPOs… all designed to make it easier for clients to learn more about managing an outsourcing team and ensuring that NPS is consistently high.

Net promoter score for companies

Net promoter score for companies

Outsourcing FAQ

What is a Learning Management System (LMS)?

What is a learning management system?

Learning Management System (LMS) refers to an incredibly powerful software tool used to support learning by providing a room where resources can be stored and arranged, and where assessments can be given. Learners and Instructors can interact using blogs and forums, looking to improve performance and retention. Learning Management System put software that creates, manages, and delivers e-learning programs.

LMS, in its most common form, consists of a server and a user interface. The former does the functions of creating, managing, and delivering e-learning courses, while the latter runs inside your browser as a web portal used by administrators, teachers, and students to access the content.

LMS and outsourcing

LMS accomplishes facilitation of online learning and availability of digital learning tools straight to learners from different settings. LMS has also made a built-in customizable feature to assess learners progress real-time, and for instructors to monitor and communicate the effectiveness of learning. The majority of the LMSs today focus on the corporate market. One important feature of a Learning Management System is trying to create streamlined communication between learners and instructors.

What is Customer Satisfaction Rating (CSAT)?

What is customer satisfaction (CSAT)?

Customer Satisfaction Score (CSAT) is a popular key performance indicator that tracks customer satisfaction. The process involves a survey question or a set of questions. The customers answer by indicating their level of satisfaction. The most popular scale is 1 to 10, with 1 being the least satisfied and 10 as the most satisfied level.

The best timing to use this methodology are after sales, before renewal of subscription, and after customer support. After-sales or after-customer support satisfaction is crucial for repeat customers. So, a business should have first-hand knowledge on its customer satisfaction. A simple interview or a feedback form after a sale would suffice. The result gives a business the necessary output whether or not to improve customer service right there and then. However, the possible ambiguity might be a disadvantage, especially if a customer is dissatisfied with the service.

CSAT in outsourcing

Customer satisfaction score might be the simplest metric but it’s a powerful tool for all businesses. It closes the loop on first customer interaction and helps businesses move on to the next level. Computation is quick and easy. You add up all the rating and divide the total score by the number of respondents. Most likely, you’ll get a percentage. Get your customer satisfaction score a notch higher by outsourcing your customer service team. Check out Outsource Accelerator’s extensive list of outsourcing companies in the Philippines.

What is Customer Experience?

What is customer experience?

Customer experience is often defined as the overall interaction of the customer and organization for a certain period of time. This interaction constitutes the following: customer involvement, customer journey, and the environment. Having a positive review on each point of contact means that the customer experience is pleasant.

Customers’ involvement may range from emotions, whether rational or irrational, to physical needs, or psychological needs. Moreover, it can extend from the simple act of talking with customers up to the product packaging, features, reliability, and affordability. Overall, positive customer experience is an excellent competitive edge that your company should provide in order to stay competent and successful in market.

Customer experience outsourcing

Outsource Accelerator provides you information about what to look for in outsourcing companies that can help you create a platform that encourages a positive customer experience. It is important to work with someone who can help your customers have a memorable journey with you, which is essential in achieving customer loyalty. After all, customer loyalty is the foundation of brand recognition and credibility in the market. Outsourcing helps you work with professionals who are well-versed with the right skills and experience to implement customer service strategies that work.

What is Business Process Outsourcing (BPO)?

What is business process outsourcing?

Business Process Outsourcing (BPO) is the engagement of services from a third-party provider. BPO uses various technology-enabled services to hasten the delivery of services. The business activities could be back-office such as, but not limited to, payroll, accounting, human resources, or front office jobs like customer service, sales, and marketing, etc.. In the case of content providers, these business activities could mean hiring writers, remote editors, or virtual assistants.

BPO speeds up processes and enhances efficiency. Companies that outsource some of their business activities use their time on core services and competencies. With this shift on focus, companies improve their current processes that may result in improved customer satisfaction. BPO helps companies divert their resources to more critical business strategies. Often, companies find it impractical to hire a full-time position inhouse because of the cost associated with doing so.

Business process outsourcing services

Outsource Accelerator is the most trusted source for independent information & advisory for Business Process Outsourcing (BPO). We have over 3,000 articles, 200+ podcast episodes, and a comprehensive directory with 700+ BPOs… all designed to make it easier for clients to learn about, and engage with, business process outsourcing.

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