As technology continues to develop at an ever-increasing rate, business opportunities change, and companies that offer business processing outsourcing must pivot their strategies to not only take advantage of new developments, but to stay competitive in the face of them. From CIO.com, here are three tech-related trends experts predict will become increasingly important:
Automation redefining relationships: In the coming years, more focus will be placed on automated processes rather than additional employees. Both customers and business process providers will be forced to rethink already existing agreements as they integrate more robotic process automation (RPA) into the services they offer. “Clients will rethink their sourcing strategies and how to build their RPA capabilities and providers will continue to build automation into their solutions,” says Craig Nelson, managing director with the advisory company Alsbridge. “Both parties will have to redefine roles and skills requirements for human jobs, as well as manage the touch points between automation functions and jobs performed by humans. This will present a significant challenge for outsourcing relationships as agreements will need to be flexible to accommodate these highly dynamic environments.”
New focus on security: As security risks increase, companies offering new and advanced security measures in their BPO solutions will be in an advantageous position. “The threat profile changes every day and with every added protection comes a new vulnerability, not to mention it is becoming harder and harder to tie products together to deliver a robust security solution,” says Rahul Singh, managing director at outsourcing consultancy Pace Harmon. “In 2016, we expect to see the rise of the Chief Security Officer and more enterprises opting for specialized security vendors with Security-as-a-Service capabilities that can protect data no matter where it resides.”
Expanding options for customers: Companies looking to outsource their business processes will find an ever-wider variety of choices in the coming years, which means BPO providers who use leading-edge technology and invest in new, advanced processes will have a distinct advantage in this increasingly competitive marketplace. ““Customers will continue to turn to ITO, BPO and cloud service providers who have blazed a digital trail for help in becoming digital businesses,” says Dan Masur of the law firm Mayer Brown’s Washington, D.C., office. “They will source services from an ever-expanding list of emerging and digital technology providers.”
The rapid advancement of computing technology has a strong impact on all aspects of BPO, and customers will find an increasing – and increasingly complex – array of options available to them. By knowing what solutions they are in the market for and which BPO providers are best positioned to assist them, companies who make the right decisions will be able to streamline their processes, reduce costs, increase efficiency and allow their employees to focus on the company’s core competencies.