NEW TRENDS & TECHOLOGIES OF BPO
Trend 1 – New Technologies are Emerging
Many New technologies that have emerged over the past few years including robotic process automation (RPA) have begun
to impact the BPO industry.RPA with its cost savings, speed and efficiency is slowly making its way into all industries
and all types of business processes. This will have a major impact on how BPOs operate and lead to jobs losses.
Expanding enterprises do not want to hire thousands of people for small tasks such as processing insurance claims,
data entry, and so on, as these tasks can be easily handled by computers.
They are adopting more tools that aid automation.India’s BPO industry workforce is expected to shrink by 14% in 2021. In the Philippines, around 700 thousand medium and high skill jobs would be created by 2022. This is important because automation is something that is accessible to the customers of BPO service providers. This trend will dominate in 2018 and outsourcing companies will automate more processes to bring innovation to existing clients, improve productivity.
Earier, the customer service industry was entirely dependent on websites. Browsing social media has recently become the third most popular online activity. Companies now realize that social media is a game changer. It provides consumer data and feedback that can enhance a company’s ability to analyze upcoming trends. Instead of call center software programs, companies now want to invest in real-time customer engagement that will allow them to gain first-hand product, Issues and solutions that will address future problems. According to Credo Consulting, consumer demands for multi-channel communications (including social media, live chat, etc.) has exploded over the past 5 years. For BPO service providers, this change in customer management is a huge opportunity. These services range from social media monitoring to business intelligence and actioning customer response.
Small and medium businesses have a limited budget which is unable to grant them state of the art office space and
According to a study by Rightscale, around 95% of SMBs have now adopted cloud technologies.
Some of the benefits this trend include:
• Improved business collaboration due to a standardized system between the BPO company and the client.
• More storage on the cloud which can improve the organization’s business continuity and resilience to risks from storing data in a single location.
• Higher data security due to impenetrable cloud systems.
• Simplified data administration, which can allow faster access to company’s resources for remote teams.
• Flexibility and scalability
Trend 2 – Multitasking to Overcome Skill Shortage
Trend 3 – Startups becoming BPO Customers
Trend 4 – Increased Transparency
Trend 5 – Continued Growth in Top Outsourcing Countries
Trend 6 – New Outsourcing Destinations to Emerge in 2018