The Business Process Outsourcing (BPO) industry is experiencing a transformative shift, fueled by advancements in technology, evolving customer expectations, and a globalized business environment. Being one of the fastest-growing industries, BPO trends are constantly emerging.
Understanding these global outsourcing trends is crucial for businesses seeking to optimize their operations and gain a competitive edge. Wondering what are the BPO industry trends right now and in the coming days?
This page contains valuable insight on the trends of the BPO industry. You may also subscribe to our newsletter for weekly updates on the latest BPO news, trends, and tips.
Almost every industry can take advantage of BPO to streamline business operations and improve overall efficiency. However, the current trend in BPO is more than just productivity. We will dive deeper into those matters in this blog. Here are the top trends in business process outsourcing:
AI and Machine Learning: BPO providers are increasingly leveraging AI and Machine Learning to automate mundane tasks, improve efficiency, and offer cognitive process automation (CPA) solutions.
Robotic Process Automation: Repetitive tasks are being automated using AI bots, freeing up human employees to focus on higher-value activities like strategic decision-making and customer relationship management.
Cloud-based solutions: The shift towards cloud-based solutions facilitates remote work, enhances data security, and offers scalable BPO services.
Reducing costs on business operations: BPO service providers can complete all your non-core activities at a much lower cost than having to do it all yourself. This makes packages from BPO providers so attractive for business owners.
Focus on expertise and industry knowledge: More and more businesses are seeking BPO partners with deep industry knowledge and expertise to tackle complex challenges and navigate specific environments.
Strategic collaboration: BPO partnerships are transitioning from transactional relationships to collaborative ones, with both parties working together towards shared goals and long-term success.
Data handling and management: Most banks outsource some of their processes to third-party companies, enhancing their productivity. These types of outsourced work could come in the form of customer service, help desk support and even administrative support.
Unmatched availability: BPO companies are not only offering to complete your tasks but also provide day and night availability. This ensures all your business tasks, no matter how critical, are being addressed promptly.
Live call support: Customer service is a very strong aspect for banks. Alongside managing accounts, money, & customer relationships, it is difficult to run a call center too. This is when banks outsource call centers for continued customer support.
Helping hands on projects: BPO service providers are ready to lend a hand in completing your software projects if you lack the resources on your half. Outsourcing to BPO companies that specialize in IT solutions is a constant trend in the world of BPO.
Build customized software solutions: Did you know Microsoft lacked the team & resources to build Skype correctly? So, they outsourced specialists to work on Skype, while their in-house team handled client interactions & other important aspects.
The top trending on BPO: IT has been a leading sector of BPO since outsourcing began, and it is still the most outsourced department today.
Data confidentiality: Many companies were once afraid of letting BPO providers see their sensitive information. However, they slowly learned to trust each other and built agreements to eliminate such privacy issues.
Proactive measures to protect privacy: Nowadays BPO providers are taking proactive measures to ensure security to their clients. This increases trust, and forms a deeper bond between the provider and the client.
As mentioned before, nearly all industries can take advantage of BPO to stay ahead of their competition. BPO provides reliable support for all industries, but some tasks stand out and they are the reason BPO is so popular today. Let’s explore these tasks:
Back-office support mainly involves handling a company’s non-core activities while their main energy is focused on sales, & customer relationships. This includes:
Accounting
Bookkeeping
Data Entry
Data Analyst
Market Research
Human Resources (HR)
Companies like to outsource their software needs overseas to get them done at cost-effective rates. The range of IT solutions you may get from BPO providers is crazy. Some reputable BPO providers like Essential-Infotech have big teams of skilled developers & software experts, who can provide any kind of technology-based solutions. This includes:
Making ERP Systems
Social Chat Apps (e.g. Skype)
Inventory Systems
Property Management Systems
HRM Software
CRM Software
App Development and more
Handling payroll is an essential aspect of running a business of any kind. Outsourcing this task can save up to 20% when compared to handling payroll in-house. This type of role could include:
Administrative Support
Bookkeeping
As a product brand that is focused on sales & revenue, it is impractical to handle a large team to provide help desk support. Such companies can save up to 60% to 70% by outsourcing customer service & help desk-related tasks to overseas BPO providers. This type of service may also include:
Virtual Assistance
Live Chat Support
Help Desk Support
Customer Service
Inbound & Outbound Call
Telemarketing
BPO providers are the first to embrace new technologies as soon as they emerge, making outsourcing to these providers a valid option to stay updated in this digital era. Let’s say when Flutter (a language to build apps) first came out, you would need to hire specialized Flutter Developers. Well, an entire team of them to build your own app. Now, you can simply outsource it to a certified BPO provider who excels at IT Solutions without stressing your head.
Similarly, BPO will be the rockets that future corporations use to propel their businesses to the next level. By having early access to the latest tech & advancements in technology, these company will have the edge over the competition.
Essential-Infotech is a leading BPO service provider working overseas with clients from multiple countries like the USA, UK, Europe, Australia, Japan, and more. We are completely licensed and also have ISO Certifications to comply with international regulations.
Want to outsource your business operations to us? Let’s talk about how we can help you cut down costs, improve efficiency & enhance your business operations. Contact us today.
If this article helped you gain insights into BPO and its related services, you can subscribe to our newsletter for regular updates. We cover interesting subjects on BPO, and it’s surely something you don’t want to miss out on!
For more information: +1 (844)-644-1744
We Are A Leading IT Company Experienced In Creative And Innovative Development And Design Solutions .
We are a leading IT company experienced in innovative development and design solutions. We have a unique, out-of-the-box approach to cope with custom clients' needs and demands. Success is essential to your business; so are we!
© 2023 All Rights Reserved by Essential-Infotech
