6 areas to consider when searching for a security minded CX business solutions provider

In today's uncertain environment, maintaining a strong customer and employee experience is crucial, but often challenging. This has led many organizations to turn to outsourcing as a solution.

Valued at $280B in 2023, the global BPO market size is expected to rise at a compound annual growth rate (CAGR) of 9.4% from 2023 to 2030 due to its ability to reduce operating, labor and overhead costs. In an uncertain market, companies can expand their workforce in key areas to support their shifting business and customer needs. 

Despite the many benefits, outsourcing does have it risks, as confidential business and customer data is often shared. With recent history showing an uptick in financial related criminal activity, understanding a provider’s security standards and protocols is especially critical.  

Here are 6 things to look for:

Ensure industry compliance standards

A provider should follow the standards and compliance measures your industry requires. Most adhere to the ISO and HIPAA standards, but what else is important to your industry?

If outsourcing travel or retail service support, for instance, you want assurance the provider locks up sensitive PII and financial data.

Review potential concerns or violations from the company’s past. If anything is amiss, look elsewhere. At the very least, see how the provider has rectified past situations.

Verify prevention technologies

Cyber-attacks cost an estimated $11.5B in 2023, with projections to jump to $13.82B in 2028. No company is immune. As such, you might have some trepidation when considering outsourcing — especially since the average cost of a data breach in the United States is $4.45 million. 

Providers must protect customer data, and, in the event of a leak, quickly prevent any monetary loss. Before inking a deal, check the prevention technologies they use.

Ensure they have the tech to control data flow, including protecting sensitive information from being emailed or copied to removable sources. Some companies even use screen monitoring software to track activities, offering peace of mind the partner takes prevention seriously. 

Understand risk mitigation protocols

As hackers make a living stealing sensitive information, it’s crucial that a provider has thorough risk mitigation procedures and plans in place outlining how it identifies, assesses, prioritizes, and monitors risks.

Its protocols should come with a robust reporting system with features such as automated incident reporting, compliance/audit reporting, and performance monitoring and reporting. These tools enable employees to convey issues as they happen, as well as provide a framework for navigating potential perils and the practices employees must follow. 

Providers should also demonstrate how they collect data and insights to assess their effectiveness and explain how they generate reports from inspections. Lastly, they should have automated equipment monitoring to identify and catch issues as they occur.

Know the company’s position (and security) on remote work 

Since remote work is the norm for many organizations, consult with a prospective organization to see if it has a hybrid/remote workplace and, if so, what standards ensure the security of your data. 

This should include firewall-protected networks, encrypted servers, virtual private networks (VPNs), password-protected systems and anti-viral and anti-spam solutions. Ensure employees are prohibited from using personal devices to manage your company’s data.

Inquire about employee vetting and training processes

Given the sensitive nature of your data, ask prospective organizations to explain their employee vetting and training processes. 

Discuss ongoing employee training programs to understand how workers are developed and stay ahead of security threats. Since they are an extension of your workforce, you need to trust they know industry best practices to increase the likelihood they won’t fall for phishing, smishing and other schemes.

Confirm they won’t give away the keys 

Your outsourcing partner should use best practices to limit access to only what is needed to perform their work. Find out whether the company enables just-in-time access, which allows certain users to tap into privileged accounts on a temporary, as-needed basis. The practice of giving minimal access to files extends beyond humans and can be applied to applications, systems and connected devices, too. 

Remember that not all partners are created equal

In an era where data security is increasingly paramount, choosing a business solutions provider who prioritizes robust security measures is not just advisable—it's essential. By carefully evaluating potential partners across these six areas, companies can safeguard their operations while reaping the benefits of outsourcing.