The field of business process outsourcing (BPO) has become a valuable resource for large organizations around the world looking to reduce costs and increase efficiency. It’s also a field that is constantly shifting and evolving, with new technologies and philosophies driving its evolution.
The web site BeforeItsNews.com offers these predictions for where BPO will be headed in the next few years:
- Increasing reliance on the cloud: More and more service providers will be adopting cloud technology, migrating their delivery infrastructure to the cloud for improved performance, increased security and faster response times. For companies looking to choose a BPO provider, the extent to which they’re relying on the cloud could be one of the most important decision factors.
- Going with a single BPO provider: Companies who work with multiple BPO providers usually discover that not only can that route be more costly, it can also contribute to delays in the delivery process. Thus, more organizations are looking for vendors who can provide end-to-end service, which streamlines the entire process and reduces both costs and delivery times.
- Dramatic growth of Knowledge Process Outsourcing: Research firms and industry analysts predict the growth of Knowledge Process Outsourcing (or KPO) at a combined annual rate of 23 percent by the year 2019. Though KPO was just a few years ago considered a non-outsourceable area, this figure clearly shows its potential for new in-roads and business opportunities in the years to come.
- Rise in crowdsourcing options: With BPO continuing to create new opportunities in the market, the concept of crowdsourcing is expected to strengthen its roots in the next few years. BPO providers are using the collective resources of the cloud to figure out new ways to get the job done, and there are a number of online communities already existing that facilitate the creation of better BPO solutions to common business issues.
With more and more organizations looking to reduce their costs and increase efficiencies by relying on BPO providers, it’s no wonder that the market is currently changing and shifting its priorities and processes to meet demand. BPO providers who wish to stay at the top of their game and continue to succeed would do well to be aware of what lies ahead.