Top 3 Benefits of Outsourcing with a Social Impact Firm

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Top 3 Benefits of Outsourcing with a Social Impact Firm

While outsourcing is a multi-billion dollar industry, the Impact Sourcing (IS) industry accounts for only 12% of the overall outsourcing market, according to the Everest Group.

Impact sourcing is a socially responsible alternative to traditional outsourcing. It is a business process delivery model that seeks to employ high potential, yet socioeconomically disadvantaged individuals. Companies who deploy impact sourcing intentionally hire and provide career development to individuals with fewer opportunities due to social status, geographic location or something more. While many organizations take note of IS, few understand the value it can bring to their organization or understand how to engage with an IS partner.

The benefits of IS are vast. Here are the top three reasons to engage with an IS partner:

Consistently high quality
IS firms focus on quality and customer service first. They typically experience lower attrition and have a more motivated workforce than traditional outsourcing firms.

Cost savings
Due to factors like geographic location and intentional process improvements, IS firms can offer more meaningful long-term savings than traditional outsourcing organizations. This allows your organization to focus on its core business operations. By engaging with a firm that focuses on operational excellence and quality delivery, you can confidently move forward with your strategic plan knowing that the non-essential business processes and services are being taken care of.

Social Impact
We were all taught as children to leave the world a better place than we found it. IS allows us to leave the world in a better place through employment, training and ultimately economic advancement to those who need it most. Additionally, IS can have a positive impact on revenue as consumers report that they are more likely to work with and purchase from companies who are socially responsible.

At Liberty Source, we have chosen to tap into the pool of over 700,000 talented, educated, culturally aligned, and committed military spouses. In fact, according to the Department of Defense’s Military Spouse Employment Partnership, 24% of military spouses are unemployed and is the top obstacle for financial security among military families.

Spouses of men and women in the military don’t have the flexibility to pursue their own careers. They move often, and not always to locations where jobs in their career field are plentiful. This contributes to patchy resumes and feelings of discontent. Many employers struggle to structure a work environment that suits the needs of a military family, particularly during deployment. Additionally, spouses with professional licenses (legal, health care, education) must pursue, and oftentimes sit for exams, in each state the military moves them to. Constantly preparing for new exams, without actually practicing in their chosen profession, further delays and complicates their professional growth. With their career aspirations hindered, spouses may pursue graduate education in lieu of finding a job, only to end up “overqualified” when they are back in the job market.

There are variances in the types of impact workers that outsourcing firms choose to focus on, but the goal remains the same for organizations that engage in IS. It is the opportunity to fulfill Corporate Social Responsibility (CSR), portfolio diversity, and cost-parity all while freeing the internal teams up to focus on core business activities.

What’s your corporate social responsibility mission? Are you leaving the world in a better place?

About Liberty Source:
Liberty Source is a top-tier onshore managed business services provider with a social mission to provide sustainable careers to military spouses and veterans. Liberty Source provides organizations with high-quality, cost-effective solutions by utilizing digital innovation along with cognitive services which are essential to enabling accurate and meaningful business decisions. We serve as a direct extension of our client’s business operations, providing lower-cost, assured accuracy, and scaled deployment through culturally-aligned expertise.

A Brief Guide to Successful Digital Transformation

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A Brief Guide to Successful Digital Transformation

Digital Transformation (Dx) can rapidly deliver a multitude of business benefits when implemented successfully. At its core, Dx streamlines the repetitive and tedious tasks that steal human capital from focusing on more meaningful work. A Dx initiative may include robotic process automation (RPA), machine learning (ML), automated intelligence (AI) or a combination of the three.

Business processes are the foundation of an organization. They represent a necessary grouping of activities that are required to operate and scale any organization. A strong set of business processes has the ability to create value by saving internal stakeholders time and exceeding increased expectations, however a poorly designed set of business processes serves as a barrier to efficiency and growth.

As a managed services firm that fosters a holistic approach to RPA implementation, we have developed a few guidelines to consider when starting your RPA journey.

Avoid disaster by understanding the business processes before automation

Oftentimes, a process made sense at the time it was created but it wasn’t designed to scale as the organization matured and the landscape changed. This is why merely purchasing an RPA tool and installing the software isn’t enough to fully recognize the business benefits of automation.

When undertaking a Dx initiative you must understand the reason a process was created and its intended purpose. Just because a process has been put into place, doesn’t mean it was well-designed or scalable.

Automating a process just because you can and without a thorough analysis of the baseline workflows, is a recipe for disaster. Before any automation takes place, take note and document the current processes, as they stand. Re-designing processes while implementing RPA will increase cost-savings and overall operational excellence.

Unlock human capital by scaling digital workers

Unlocking the full potential of any Dx initiative must include the harmonization of innovative technology and the human workforce. The key to truly achieving economies of scale in any Dx journey is to foster human-in-the-loop interactions where the human workforce enters a process when the automation stops. The human workforce is no longer required to engage in the defined repetitive tasks but is now free to provide cognitive insight such as exception handling, communications, and decision making.

We have a finite number of human capital hours available to us. We must use them wisely and to their full potential.

Harness your data

Data is king. A positive by-product of deploying Dx to streamline your processes is the immense amount of data being collected. This new data can be mined to evaluate process health and provide greater insight into improvement opportunity.

This data can assist in your continuous improvement goals if harnessed and analyzed correctly. Through leveraging the insights produced, you can gain a better understanding of organizational structures, potential leakage and operational workflows to create greater efficiency and scale necessary to accomplish your strategic goals to truly transform your business.

Avoid culture shock

The need for communication is often overlooked. Communicate with your employees early and often to help them understand the value of a Dx initiative, their role in the project (if any) and the impact on their place in the organization post-Dx. Without proper communication and expectation setting, a valued employee has the potential to upend an entire transformation initiative. Involve your team early and often.

Develop strong corporate governance

Establishing strong governance in your Dx efforts ensures successful implementation. This includes defining the process discovery approach and prioritization of opportunities to maximize the value delivered to your business. A few things to consider:

  • Establish the right governance structure: Engage key stakeholders to set the strategy and be accountable for delivering the transformation results. Typically this is comprised of representation from the business, IT, internal audit, the sponsoring Dx implementation team and executive sponsorship.
  • Define the objectives of the governance board: Identify how the group will ensure consistency and visibility of demand management decisions, including demand generation, benefit realization, continuous improvement efforts, and delivery.
  • Build and manage a clear demand pipeline: Determine how potential opportunities will be evaluated against the areas that matter most to your business. While standard questions and toolkits are available, take some time to tailor items that drive value to your business. Define a clear methodology to move from ideas to execution to production.
  • Monitor performance: Determine how progress and health of digital assets will be measured. Just as you do with your people strategy and business continuity planning, you must ensure an appropriate contingency plan is in place if a bot fails.

Food for thought

Investing in Dx can propel your organization to new heights. Therefore, it is essential to have a Dx strategy, an implementation plan and a culture which embraces change to optimize the power of a newly integrated workforce. To remain competitive in today’s global marketplace Dx can’t be put off until tomorrow. Your customers deserve it, your organization demands it and your future employees expect it.

Liberty Source is a top-tier onshore managed business services provider with a social mission to provide sustainable careers to military spouses and veterans. Liberty Source provides organizations with high-quality, cost-effective solutions by utilizing digital innovation along with a cognitive service layer which is essential to enabling accurate and meaningful business decisions. We serve as a direct extension of our client’s business operations, providing lower-cost, assured accuracy, and scaled deployment through culturally-aligned expertise.

5 Myths About RPA

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5 Myths About RPA

Robotic Process Automation (RPA) has been around for almost two decades. Despite its long history, the use of RPA in general business practices is growing rapidly. The value it brings organizations small and large is expansive and is expected to grow exponentially over the next 3-to-5 years. Gartner reports that the use of RPA grew over 63% last year alone. While the possibilities for leveraging automation are endless and the opportunities are exciting, with any new technology and innovation comes uncertainty and fear of the unknown. This fear of the unknown often stifles growth and long-term innovation.

When an organization takes a step back to think of RPA from a business evolution perspective, the value-added benefits begin to unfold.

In an effort to provide clarity around RPA, Liberty Source debunks a few myths about RPA.

Robotics Process Automation is comprised of a set of physical robots
Hollywood thrives on dramatizing the use of human-like robots on the movie screen, however the use of RPA is vastly different on the computer screen. RPA is software that enables lean processes by performing routine, mundane processes. RPA software, or a ‘bot’, is oftentimes referred to as a virtual or digital worker. A bot is created for a specific and repeatable task or business process and is curated by using a series of algorithms. Without automation, these repeatable tasks hinder the human workforce from providing culturally empathetic insight and cognitive decision making to broader value-added strategies and processes.

A human workforce should be free to use their deep cognitive abilities on more meaningful work, while RPA should be implemented to handle the tedious, repeatable, everyday tasks.

RPA is only needed in tech-heavy organizations
RPA is actually best suited in people-heavy organizations. Operations which require constant human interaction should leverage RPA to reduce the time spent on repetitive and standardized tasks, freeing their employees time to focus on customer interactions and problem solving.

Behind every implementation of RPA, should be an understanding and basic design of the business processes required to run a department. This documentation should be owned by the operating unit overseeing the processes, not defaulted to an IT department in a tech-heavy organization.

The use of any RPA software can be easily trained to applicable end-users, not just to leaders within an IT Department.

RPA will eliminate human roles

RPA will NOT and does not take work from the human workforce, it merely changes the way in which humans work. RPA increases productivity by eliminating the defined repetitive tasks and reinforcing human insight. It enables the workforce to do what humans do best: build relationships, apply cognitive insights, and evaluate barriers to success.

RPA is not designed to eliminate jobs. Process automation will remove a few roles that are defined, rule-based and narrow in scope, thus empowering organizations and employees to re-evaluate value-added opportunities, changing job responsibilities to focus on the development, maintenance and success of the RPA component within the function.

Once RPA is deployed, we don’t need to do anything else
RPA is not complete automation. Therefore, humans are needed to provide thought and decision-making to identify exceptions within the processes and train the system to manage these exceptions. Allowing the software to evolve into the best version possible for the business function. The human layer in automation is also called the cognitive service layer which is the key ingredient to successful RPA implementation.

The perfect mix of digital innovation and a cognitive service layer sets the foundation for business evolution that provides optimal return on investment.

RPA does not understand complex tasks

If a process or task can be defined, the bot can be taught. Before implementation of any RPA software, the processes should be documented and mapped, uncovering the rule-based and logical nature of even the most complex task or process. Through breaking down the most complex process you will find ways to successfully implement new automation.

RPA is designed to perform tasks based on data and instructions provided by a human. No matter how completed a process may be, by breaking down the process into smaller bite-size tasks permits the bot to learn and the human to analyze.

With these myths debunked, rest assured that RPA is a tool that provides value-added benefits. Liberty Source is here to help you on your journey of unlocking the potential of RPA and maximizing your ROI.

Liberty Source