What is the Future of Business Process Outsourcing Industry
Business Process Outsourcing (BPO) services are delegation of one or more Information Technology – intensive business processes to an external provider, which in turn owns, administers and manages the chosen process based on measurable and defined performance criteria. India and Philippines have developed into hot destinations for such services. The success behind this is mainly due to the fact that there is a quick availability of enormous resources which include English fluency, diligent and hardworking efforts provided by BPO Companies in India. BPO (Business Process Outsourcing) has entered a transformative phase by evolving through business technology, process and strategy to achieve prime time goals and ambitions. Let us know all about the future roles and strategies of BPO services.
The Future Roles and Strategies of BPO Industry Growth
Business Process Outsourcing (BPO) contact centers will be highly re-defined over the next 5 to 10 years. Instead of its historic and well-built role as a cost reducing tool, it can be viewed increasingly as a good means of delivering high-quality services and functionalities. The growth and development of a BPO Company will most probably be promoted by the transformation of technology. The best offerings will include highly sophisticated cloud computing services, social media platforms, business analytics and process automation software will help deliver far more advanced products and services.
There are certain regulatory issues, where European lawmakers are very keen to present stringent data management rules that will make agreements more difficult for both BPO services and their customers. Despite these stringent rules, the widely spread adoption of cloud services will surely continue with the higher availability of improved and cost-effective technology. This in turn, is quite relevant to BPOs transferring their services to the cloud from CRM systems. The best BPO solutions will optimize the value of service that they are able to offer their clients or customers.
The Penetration of Robotics
The next decade will be key to observe how the robotics will transform the traditional roles of a call center agent and a standard back office personnel. The robotics penetration has steaily improved in countries like Japan in the manufacturing sector. The large outsourcing companies have taken cognizance of growing potential of robotics in the industry which could disrupt the landscape of how the business is conducted by outsourcing companies. The outsourcing giants are now trying to make a certain component of robotics into each of the project to be well prepared for this trend.
The BPO industry has to be prepared to go through the innovation cycle that will require more value addition, enhanced role of digital media and adoption of robortics in times to come. All these technological will require investments and development ofright platform, and like any change the ones who execute it well will flourish, innovate and move up the margin curve of BPO industry.
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