Know the elements behind an outsourced Shared Services Solution

Know the elements behind an outsourced Shared Services Solution
To keep up with changes in technology and processes related to data-based industries, organizations must be continuously growing and evolving. Those that don’t risk falling behind – and possibly failing. However, there is a way to survive – and thrive – in this competitive business climate. That’s by choosing a Business Process Outsourcing (BPO) provider that offers a Shared Services-based solution.


With a solution based on the Shared Services model, your organization can implement changes quickly and efficiently, ensuring that all the vital aspects of your business are covered. The elements making this possible include:

Workflow: A Shared Services solution that includes a powerful, rules-based workflow can be applied to both insurance and finance processes. In the insurance industry, workflows are customized to optimize the medical bill process, driving auto-adjudication rates and reducing administrative costs and reimbursement turnaround times. On the financial side, workflows automate the entire transaction lifecycle, reducing costs and accelerating invoice turnaround time.


Mailroom: Outsourcing mailroom services allow an organization to reduce the complexity, cost, time and errors involved with opening, managing and distributing inbound documents. This is made possible through the use of advanced form ID technology, intelligent data capture and high-speed scanning/imaging.


Payments: Like Workflow, bill payment solutions can be tailored for both the insurance and finance industries. In the insurance realm, a medical bill payment solution would save time, money and effort through fully electronic payment/remittance distribution. In the financial realm, the solution maximizes effectiveness of supplier payments by replacing paper checking with electronic transactions.


Print & mail: As part of a Shared Services-based solution, print & mail offers organizations the ability to manage a variety of file formats, utilize high-output technology to produce personalized communications and document processes and procedures to ensure that technology is operating at the highest possible standards.


By addressing these issues (and many others), a Shared Services-based solution offers organizations the keys to ensure they’re not left behind by ever-changing technology by giving them ways to evolve and stay at the leading-edge of industry developments.

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