Outsourcing Glossary

THE ABCs of Outsourcing 

A comprehensive guide to all the terms you need to know in outsourcing. 

Outsourcing Glossary

THE ABCs of Outsourcing 

A comprehensive guide to all the terms you need to know in outsourcing. 

All | A | B | C | D | E | H | I | K | L | M | O | R | S | T

A

Agent

An agent is a company representative who oversees incoming and outgoing calls, emails, or chats from customers about account inquiries, complaints, or support issues. They are highly trained and knowledgeable to handle, assist, and/or support every customer’s concerns. 

Appointment Setter

Appointment setters are responsible for finding potential customers by introducing the company, discussing its products and services, and then scheduling appointments for the sales representative to turn them into buyers. 

Appointment Setting

Appointment Setting is a service where an appointment setter invites a qualified lead for a discussion and sets a time for a meeting for the closing sales representative. The process of appointment setting is vital if your goal is to increase sales and drive the success of your company.  

Artificial Intelligence (AI)

Artificial Intelligence (AI) is a wide-ranging branch of computer science concerned with building smart machines capable of performing tasks that typically require human intelligence, such as visual perception, speech recognition, decision-making, and translation between languages. Artificial Intelligence (AI) is used in outsourcing as a tool for improving processes and customer service. At FBC Asia Pacific, we use AI-powered tools and software to improve the customer care experience, reduce high turnover and employee burnout rates, and provide richer data analytics and insights. 

B

Back-Office Support

Back-office support is a pivotal role that contributes to helping customer support provide an excellent customer experience. Some of the tasks they are assigned to do are record filing, data management, digital marketing, and other fields depending on the industry.

Build, Operate, Transfer (BOT)

Build, Operate, Transfer (BOT) is a model for companies that do not have an existing registered entity in the Philippines but plan to have a registered entity in the future.  FBC provides end-to-end services including setting up the legal entity, hiring manpower, implementing processes, and managing the center on behalf of the client and the legal entity is transferred to the client upon their request.

Business Processing Outsourcing (BPO)

Business Processing Outsourcing (BPO) is a subset of outsourcing, which involves contracting operations of specific business tasks to a third-party service provider. BPO services include payroll, human resources (HR), accounting, and customer/call center relations.

C

Call Center

The call center is a centralized department that manages a large volume of inbound and outbound calls relating to a company’s products or services. Call centers are used to provide customer support, inquiries, complaints, and assistance. There are 3 types of customer call centers: inbound call centers, outbound call centers, and customer service centers (also known as contact centers). 

Chatbot

A chatbot is a type of software, or a computer program designed to simulate and process a human-like conversation (either written or spoken). This helps customers waiting to speak to a live agent, as it delivers a quick response or assists customers’ usual inquiries or requests about the company’s products or services.

Customer Experience

Customer experience also known as CX is the customer’s overall impression of your brand or business. Customer experience is an important part of a customer-centric approach. A great customer experience reflects well on a company. It can also play a critical role in increasing revenue and customer satisfaction, which are essential for success. 

Customer Relationship Management

Customer Relationship Management also known as CRM is a system that is used for customer relationship management. Various businesses, organizations, and other companies commonly use this software to help them improve the customer management process. Customer relationship management software helps in maintaining a database that can contain customer details such as contact numbers, email addresses, and other information that can be used when required. These details can include information like how often they visit the customer base, how much time it takes for them to respond, and many others.

Customer Retention

Customer Retention is about treating your customers in a way that makes them want to keep coming back. Its principal goal is to focus on retaining the customer base of a company for the long term. Customer retention is the most important part of a business’s life span. It is the backbone of a company’s growth too. It also provides businesses with a channel for improving their overall reputation and illustrating their quality to others. 

Customer Satisfaction

Customer Satisfaction is also known as CSAT  is the level of contentment your customer feels when they purchase products and services from your company. It is also a measure of customer loyalty and can play a key role in how you do business and grow your business. This means making your customers feel like they matter to you and that you value them as much as they value your product or service. 

Customer Service

Customer Service is an integral part of any business. It is the actions and activities of a business or organization that provide service to customers. It is also an essential part of successful customer satisfaction and customer loyalty.

Customer Support

Customer Support is a range of customer services to assist customers in making cost-effective and correct use of a product. It includes assistance in troubleshooting, maintenance, upgrading, and/or disposal of a product. Customer support services assist a company in maintaining a positive relationship with its customers.

D

Document Digitization

Document digitization refers to converting manual documents into an automated version that is computerized or easily accessible. It can automate manual tasks like creating, storing, and locating files using software that manages these processes. 

Data Entry

Data Entry is the act of transcribing written documents into digital data, or of transcribing one type of electronic data into another. This might include creating a database, managing spreadsheets, creating presentations, and executing calculations. 

E

Employee Engagement

Employee engagement is a key term to understand and describe, both qualitatively and quantitatively, the nature of the relationship between an organization and its employees. Engaged employees display behaviors that enhance the organization’s performance, productivity, quality, and customer service.  

Employee Retention

Employee retention is the ability of an organization to retain its employees. Employee turnover reduces organizational productivity and performance and increases organizational costs. At FBC, we work hard to take care of our people. The low turnover is a testament to our “pro-people” approach. As a result, our people-centric approach garnered scores of 87% for overall employee satisfaction and 89% for employee retention.  

Employee Satisfaction (ESAT)

Employee Satisfaction (ESAT) refers to how happy and content employees are at work and how well their wants and needs are met. At FBC, we have a dedicated team that constantly monitors our employees through ESAT. We have both an internal and external survey engine, which allows us to get the pulse on our employees and their perception of their work. Our “Employee First” approach also helps us provide value-adding services to all our clients. 

H

Healthcare Outsourcing

Healthcare Outsourcing is a business practice in which a medical facility or health system seeks the services of a third-party vendor to complete tasks that are not related to patient care, such as medical billing, coding, and medical transcription. 

I

Inbound Call Center Service

Inbound call center service manages incoming calls from customers. Services provided by inbound call centers typically involve customer service, collections, virtual assistant services, and technical support. 

Inbound Sales

Inbound Sale is a type of sales in which the customer, who may be a prospect or lead, initiates the process. Customers in this funnel have already been qualified by marketing and are therefore more likely to make a purchase.  

K

Knowledge Base

The knowledge base is a comprehensive collection of articles, documentation, guides, and FAQs related to a product or service offering. The tool creates an organized view of this information so that employees can quickly find what they are looking for in their searches. 

Key Performance Indicator (KPI)

Key Performance Indicator (KPI) is a type of performance measurement. KPIs evaluate the success of an organization or of a particular activity (such as projects, programs, products, or other initiatives) in which it engages.  

L

Lead Generation

Lead generations are often paired with lead management to move leads through the purchase funnel and are integrated by using marketing automation tools that track the effectiveness of the campaign. 

M

Multi-channel Support

Multi-channel support is a type of support that occurs in the channel where customers feel most comfortable. This channel may be email, chat, social media, or phone. 

O

Offshore outsourcing

Offshore outsourcing is a business practice in which a company hires a third party to perform tasks, manage operations, or have certain job functions done outside of their own country, mostly overseas. FBC Asia Pacific provides outsourcing and offshoring programs out of the Philippines and Sri Lanka that allow customers to take advantage of the cost savings of hiring talented people while retaining control over the day-to-day operations. 

Omnichannel Support

Omnichannel Support is an integrated approach to serving customers wherever and whenever they choose to engage with a business. It prioritizes customer experience by creating a seamless, consistent experience across all channels of communication. 

Outbound Call Center

Outbound Call Center is one in which call center agents make calls to customers on behalf of a business or client. An outbound call center takes outbound calls only and does not receive inbound calls. 

R

Recruitment Process Outsourcing

Recruitment Process Outsourcing is a form of business process outsourcing (BPO) where an employer outsources or transfers all or part of its recruitment processes to a third-party provider. At FBC, we offer a full range of recruitment process outsourcing services, from conceptualization to systematic execution, ensuring that your entire asset is utilized to produce the best results while optimizing your recruitment process. 

Robotic Process Automation

Robotic Process Automation software technology executes rules-based, highly repetitive, and predictable business processes run by humans. With RPA, you can easily design software that emulates and integrates the actions of a human interacting within a digital system to execute a business process. 

S

Seat Leasing

Seat leasing is the practice of renting an office, or cubicle space, or desk, particularly in an open-plan office environment. It allows your company to be more flexible, and you can pay for only what you need. One of FBC’s engagement models, seat leasing, makes it possible for your company to save on operational costs, which also helps your company focus on increasing its productivity in terms of production output and service delivery. 

Staff Augmentation

Staff augmentation is a type of outsourcing service model used to provide staff in the form of external hires. This type of outsourcing helps businesses expand without having to invest in additional space, people, or equipment. At FBC, we provide human power to your business continuously by delivering a committed and diligent workforce as per the requirements of your business. 

T

Telemarketing

Telemarketing is used to contact existing or potential customers to promote a product or service. Telemarketers employ a set of closing techniques to secure the sale at the end of a direct sales call. 

Third-Party Verification

Third-Party Verification is a process where a company uses an outside organization to confirm the information of its customers. It is used to ensure that all the information about a customer’s identity can be trusted. 

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