Cyber insurance is one of its facets, a sector that is projected to grow to $20.4 billion by 2025. The global outsourcing industry is definitely set to grow in the coming years. For instance, e-commerce services have spiked during the pandemic since most people cannot go out. Clients even expect businesses to be reachable through their social media accounts and websites if they want to get noticed. A lot of adjustments had to be done when companies were forced to work remotely during the pandemic.
As 2021 comes to a close and a new year begins, all signs point toward a future of digital solutions and remote services. South Africa provided a great example in 2021 as both industry future trends of outsourcing leaders and politicians worked together to accelerate the region’s BPO growth. One of the more telling indicators of this growing trend is the widespread nature of its implementation.
Build for the Future
Brands that offer people greater choice in how they use (or don’t use) technology to interact will become trusted partners, because customers will be able to regain a much-needed sense of agency. People will feel deeply understood, and it’ll become easier than ever to find the most personally relevant products, services and experiences online. For businesses, the technology’s flexibility and nuance present an amazing opportunity to shape a more relatable, human-like representation of the brand—one that can build customer relationships in meaningful ways. Customer experience must rise back up the priority list as a route to growth, and become a joint project for service, marketing and design.
Not too long ago, access to top talent and resources was limited to companies with huge amounts of capital. The growth of the outsourcing industry opens up a wide range of possibilities to small and medium companies who otherwise wouldn’t have the resources to develop custom products, for example. It’s expensive and complicated to hire and maintain a dedicated software development team that’s on the cutting edge. Furthermore, simply understanding the latest tech trends and knowing what to use when requires specialized knowledge many companies don’t possess.
# Time Zone Differences
In 2022, it will become a trusted source for top-tier providers in the outsourcing industry. Speaking of technology, omnichannel and automation are on a fast track to become outsourcing mainstays in 2022. As outsourcers react to the labor market’s demands for more remote work options, clients will have to as well. Where 2020 brought hesitancy (and even refusal) by clients to accept remote outsourcing operations, there was a subtle shift in 2021.
By prioritizing these key factors, outsourced partnerships can achieve long-term success and drive sustainable growth for both the BPO provider and their clients. Additionally, the COVID-19 pandemic has forced many businesses to operate remotely, leading to an increase in cyber-attacks and data breaches. Companies must continue to adapt to the new working environment and implement strong data security measures to protect against cyber threats.
These are highly experienced marketing executives who contract with companies. The danger of straining the budget through excessive hiring is very real, particularly for companies in the startup or rapid growth stages. Outsourcing is one way a growing brand can avoid the mistake of expanding its team too quickly. When working with an outsourced partner, it’s important to understand everyone’s responsibilities and the role they play in the relationship. This helps ensure that the relationship goes smoothly and that the outsourcing partnership is successful.
No matter which of these IT outsourcing trends you embrace and which one you skip, the key to successful business transformation lies in finding the best IT consulting services for your specific needs. Once you find the perfect tech partner for all your IT requirements, you can enjoy all the benefits of outsourcing and take your business to greater heights. What’s more, artificial intelligence increases the quality of customer service, and outsourcing isn’t an exception.
Ensuring Compliance and Accuracy – The Power of Outsourced Accounting
That trend is likely to continue through 2022, but not just because of COVID-19. Whether you’re still operating 100% in-house or have already outsourced portions of your business, you can show strong leadership by identifying aspects of your company that outsourcing could benefit. By creating an outsourcing strategy now and pairing it with a human capital management plan to see your employees through the changes, you’ll be well prepared to super-charge your profits and productivity. Outsourcing not only impacts operations, costs and productivity, but it also affects your employees. Outsourcing can be a great resource for helping to avoid employee burnout, but the way you plan to use outsourcing needs to be communicated clearly.
There are three location-based IT outsourcing models depending on the location of the vendor’s operations. Companies will leverage online services, social media marketing, and email promotions to reach wider audiences. Automation, especially RPA, will lead to increased efficiency, replacing repetitive human tasks with automated solutions. This not only brings in diverse perspectives but also ensures that businesses can find the right skill set for specific tasks, irrespective of geographical constraints.
How Remote Work Shaped the Need for Cloud-Based Technology
Although gig working isn’t brand new, the current climate in outsourcing is a golden opportunity for gig work to mature in the coming year. A historically hot labor market, the growing prevalence and acceptance of remote work, and serious advancements in technology are the perfect storm for Enterprise outsourcers to embrace the benefits of gig work in 2022. The gig economy was growing before the pandemic, continued growing during the pandemic, and will continue to grow even further in 2022. The World Economic Forum has called gigging the Fourth Industrial Revolution and predicts that it will transform the global economic framework.
Find out how your business can deliver an exceptional 24/7 customer experience, improve conversion rates and convert website traffic into customers. Try it for free to see how this growing outsourcing trend can fit into your business model. At Nexa, our 24/7 answering service can create competitive advantages within your company. Whether you’re in home services, legal, healthcare, real estate, or eCommerce, our bilingual and highly trained virtual receptionists have the skills you need to foster a premium customer experience.
Current Trends in Outsourcing To Follow in 2023
In fact, a study by Clutch found that almost 24% of small businesses seek global outsourcing services to improve their work efficiency. Despite the threat of automation, the industry continued to adapt through the times – making its services more valuable to its clients. As a result, many companies are now devoting a significant portion of their software development spending to outsourced professionals. By partnering with experts who are comfortable with the newest emerging technologies, companies can gain a competitive advantage and reduce the unnecessary costs of permanent, in-house developers.
- However, it’s likely that the effects of The Great Resignation will leave an impact on the global workforce market.
- This can be a massive help in reducing capital costs, since high-end engineers are always in demand and training staff takes both time and money.
- It teaches employees to find ways to be more productive and increases engagement and positivity.
- For a long time, India and China were the most popular destinations for IT outsourcing, mostly, because of the low price of the services.
- Even if the use cases of artificial intelligence are deep-rooted in the corporate world, it is getting more sophisticated with each passing year.