Hospitality Industry
The Hospitality Industry and what Business Process Outsourcing can do.
Key Points:
- In an industry that involves enormous capital expenditure, BPO can help reduce costs and provide the much-needed scalability.
- The outsourcing model can help in improving customer service, streamlining finance and accounting processes, and understanding customer behavior.
- Only leading players in the outsourcing space provide domain expertise that is seeded throughout the management team.
- Using BPO, companies in the Hospitality industry are enabled to concentrate focus on core functions that generate revenue. Non-core, support functions, such as Finance & Accounting, or Research & Analytics require in-depth skills and are best managed in a BPO environment, by an experienced BPO Services Provider.
01.
In an industry that involves enormous capital expenditure, Business Process Outsourcing (BPO) can help reduce costs and provide the much-needed scalability. The three areas that need to be focused on during the upturn are: Customer Service, Finance and Accounting (F&A) and Research and Analytics (R&A).
02.
The customer today is exposed to global standards in service delivery and expects nothing short of the superlative. An evolved customer and a competitive environment are turning the heat on the industry. Customer service is the key differentiator in retention and loyalty strategies. Another challenge is effective brand protection and representation. Hotels need to increase the conversion ratio, and develop a viable model for cross-sell and up-sell. Often, all these seem daunting because hotels operate in a legacy-dominated environment.
Effective customer relationship management practices can provide an answer to many of the challenges that the hospitality industry faces today.
03.
Organizations need to apply the best practices of Client Relationship Management (CRM) across verticals to realize the benefits. BPO solutions, with a clear focus on increasing accountability on conversion, revenue per call, loyalty program registration percentage and other such metrics, are clearly the need-of-the-hour. These are beyond the standard call center key performance indicators. Hotels can realize brand extensions through training, familiarization trips, hosting property resources and focused branding. To increase cross-sell and up-sell, hotels can carve out an incentive-based program for the sales team.
