Security remains a key concern: The year 2016 was infamous for data and security breaches that had an impact on business, politics and global security. The past year has had fewer (and less publicized) incidents, but it has also seen many examples of cybercrime and terrorism — and there’s no reason to think that trend will decline in the coming years. After all, technology improves for both criminals and the forces looking to stop them. In that vein, increased awareness will compel organizations to opt for advanced security measures, including automation, threat intelligence and analytics solutions.
Artificial intelligence-led automation having an increasing impact: Machine learning is finding its place in the process of commercial outsourcing, providing deeper insights into outsourcing mechanisms and helping to reduce operation costs. Automation can help standardize all manner of BPO elements, from data capture to bill payment to mailroom, reducing costs and extending benefits to suppliers, clients and employees.
Consolidation of the market: With all these policy changes transforming the world of IT outsourcing, there will be a wave of mergers, acquisitions, sell-offs and renewed ways of working to take over a bigger slice of the pie. The vendors who are poised to take advantage of business and technological trends will be in the best position to survive.
Some industry experts predict that, with all the changes coming to the BPO market, the existing model of BPO could cease to be in the coming years and be replaced by a new, more technologically-advanced solution for business processes. The key for organizations in the market for a BPO solution is to be aware of these trends and choose a provider best equipped to not only weather the oncoming (and inevitable) changes, but to respond quickly and utilize them, then pass that improved service onto their clients.