Friday , November 24 2017

5 Outsourcing Trends to Watch in 2017

In 2016, we’ve seen the various changes that swept the outsourcing industry: the introduction of Cloud and its enterprise systems, the rise of automated processes, and the need for stronger data security. Indeed, these developments have made an impact in the field, and will even continue to reign this year.

As the year starts, get to know the new and recurring trends that will soon take over outsourcing in 2017. Gear up and update the BPO services you offer accordingly because these changes will shape the business in the coming years.

Cloud will soar even higher than ever

The testing phase is over for Cloud. According to CIO.com, Cloud providers will mature this year as demand for the technology is expected to reach new heights.

Cloud technology offers efficient and convenient solutions for businesses without spending much. Aside from providing data storage, it lets you deliver improved and innovative BPO services. It also enables access to your data anytime, anywhere, increasing efficiency of the business. Hence, experts predict that more businesses will move to Cloud this year.

The international political scene will make its impact felt

With Brexit happening in the United Kingdom and the Trump administration taking over the United States, the outsourcing industry is bound to feel significant changes. The constant currency exchange rate issues are just the beginning.

Experts believe that more work will be transitioned from off-shore to onshore BPOs, as the current exchange rates badly affect business margins. The recent development in the international political scene will also dictate how the outsourcing industry will fare in the coming years. In the previous year, businesses have already begun re-assessing contracts and discussed legal implications as an effect to the said changes.

Data security will be on top of the priority list

As technology advances, security risks and threats are also advancing. This year, data security will continue to be a major concern for businesses. That said, it is expected that additional enterprise system such as Security-as-a-Service will rise to uphold confidentiality and protect information.

We will also see more BPOs specializing in data security offer solutions for security needs. Self-protection features, encryption algorithms, and policies such as ISO 27001 will help ensure customers achieve the highest level of security in the industry.

RPAs, AIs will take over the industry

Robotic process automation (RPA) and artificial intelligence (AI) is slowly hitting the outsourcing scene, and this year, they will continue to affect the industry. However, their effects can be both good and bad according to a ReadItQuik article.

The rise of RPAs and AI will help standardize outsourcing process, which can increase productivity and reduce direct costs. Since software robots will be utilized to do repetitive tasks, businesses will be able to save on human labor. However, the bad news is: prominent BPO functions such as call center will replace humans with automated processes and self-servicing tools. Hence, such functions will lose its significance in the industry with the emergence of virtual agents.

Collaborating with multiple outsourcing companies will be inevitable

According to Infinit Outsourcing, the demand for outsourcing services is not slowing down despite decades of being in the industry. Rather, it is evolving as it continues to help businesses address immediate needs and improve processes.

That said, hiring outsourcing services will remain a trend for the coming years. However, seeking the help of one outsourcing company alone is insufficient for certain companies today. But thanks to the Cloud technology, businesses are now capable of working with multiple outsourcing companies. The cloud-based solutions make it possible to coordinate workflow among companies, allowing diversified BPO services in the business.

2017 is another promising year to flourish in your chosen industry. The trends mentioned above will help you in your business decision-making this year. Take note of them to adapt changes in the outsourcing industry this year and beyond.

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