Trends can dictate the future of the business. Sometimes, knowing the upcoming trends can help a business owner in marketing research and product development. As for the growing industry of the business process outsourcing, predicting trends are not only to compare growth within the industry but also for individual companies to utilize the latest and most efficient technology and management style. Here are the predicted trends in the BPO industry this 2016:
Robotics and Automation
The rise of robots and automation will change the game of the business process outsourcing. It is an expected trend this 2016 and will be popularly known as Robotic Process Automation (RPA).
According to the Institute for Robotic Process Automation, using RPA can reduce costs by up to 50 percent with a guarantee of a flawless job when it comes to encoding names and number where humans, however, make 10% errors. Read more about RPA – its benefits and impact on the BPO industry – at another article by Outbounderstv entitled “When RPA takes over the BPO industry”.
Analytics and Intelligence
Accenture research found out that 70 percent of companies plan on using more analytic tools to grow the business while only 40 percent will use automation. Michael Corcoran says, “By moving to real-time, automated processes enacted on a secure, scalable, cloud-based platform, companies can obtain much richer and better quality data”. Corcoran is that Senior Managing Director, Growth and Strategy Lead for Accenture Operations.
Have you met Amelia? Amelia is a new-world artificial intelligence platform created by IPsoft. She is a knowledge worker who interfaces on human terms. She communicates like a typical call center operator only that she is limited to a computer screen yet understands what people ask and feel when they call for service. She can be deployed straight from the cloud in a fraction of the time and can provide high-quality responses consistently, 24/7, and in every language the customers speak.
The world is becoming paperless as businesses and offices gradually venture into learning to utilize what “the cloud” can offer. From Systems Records, many offices now use Systems Engagement to connect and engage employees.
The internet has evolved so much since it was first introduced into the world. Now, that researched and engineering developments continues to soar and the emergence of a new and better cloud – suited to meet the standards and demands of business process outsourcing is at hand. This move is still taking place among major players of the game since other companies are still reluctant to adapt to it due to some security reasons.
In using more complicated technologies, there will also be a need to enhance enterprise service management. Considering that in utilizing the latest technologies available for business, the company will be equipped to accept more clients. Along with more clients, there is a demand for more complicated management in terms of handling internal and third party functions.
The move to the Philippines
The Philippines is considered to be one of the world’s top outsourcing destinations in the world. Aside from this, Philippines is also one the countries that cultivate the growing industry of business process outsourcing. A few reasons why the Philippines is one of the top picks are: high literacy rate, 2nd largest English speaking country in the world, western lifestyle adaptation, largest BPO city in the world, #1 call center in the world, and lower taxes. The outsourcing of services to Philippines will continue to grow over the next few years, potentially at the cost of moving away from present outsourcing hubs in some Indian cities.
Knowledge Process Outsourcing
As the competition among BPO companies get stiffer, there will be a great demand in skilled professionals. According to DataMark, Knowledge Process Outsourcing is going to see an almost meteoric rise in the coming years, predicted to be at 23% by 2019. The move to outsource previously un-outsourcable products like high levels of knowledge and research is rising with an increase in significantly well educated workforce in outsourcing destinations.