Business Process Outsourcing: What to expect in 2019

BPO 2019 Blog Image

If you had been outsourcing in the past or are planning to start soon, and are somewhat unsure of its future, well you may put all those worries to rest. Outsourcing has survived over the years and will most definitely survive in the future. But to understand what the future holds for the BPO industry, let me first reflect on the past year.

2018 in a Nutshell

Last year has been nothing less than a rollercoaster ride for the BPO industry, all thanks to the technological innovation, the rising global political instability and the return of the protectionist sentiment in the western economies, which combined, has been the continuous source of disrupt in the industry. And the result?

1. The global delivery system has gone under tons of pressure as the clients are demanding more and more from labor and digital arbitrage propositions.

2. BPO firms, as well as multi-service companies, are focussing on acquiring more digital and automation capabilities.

3. All this and various other factors have lead to more severe competition between the global multi-national companies and other in-house shared services and IT companies.

Predictions for 2019

New Technologies

BPO industry has always provided businesses with cost-effective solutions. And the trending technologies of 2018 such as social media, cloud computing, software, and automation have served well to reduce costs and to accelerate growth. This trend will continue well in 2019 as well.

Multi-Tasking

Earlier BPO was synonymous only with call centers. This outdated notion has been replaced with web design, human resources, accounting, coding, and various other tasks. That’s why a huge chunk of outsourcing companies have been investing in offering multiple services such as mobile applications, cloud computing, digital technology etc. in their supplying countries, a trend which will go well in 2019.

Engaging Start-Ups

The past few years have seen a significant surge in startup growth with many startups succeeding under a lot of pressure with time constraints and limited resources. These startups with a small budget often look overseas for cost-effective labor. And where they find it? In BPOs that excel at providing talent at lower costs, thus help complete tedious tasks such as recruitment and trading. Another trend in continuation.

Transparency

Earlier, when only large multinational BPO companies were actively involved in the industry, it became really difficult to gain information on the policies and contracts. Even the employees were kept in the dark. But the transparency has most certainly increased recently. In 2019 too, many more organizations are expected to adjust their policies so as to avoid losing business to more trustworthy organizations.

Politics

Remember how the new administrative power emerging after the 2016 US Presidential elections directly impacted the rules and regulations affecting the BPO sector. The more Trump focussed on “America’s First” policy, the more it encouraged the return of anti-outsourcing bills in Congress. But things aren’t that bad. Despite Trump’s policy claims, the outsourcing industry can continue to expect unstoppable growth in 2019.

Continued Growth

The established outsourcing destinations such as India, Malaysia, Philippines etc. will continue to see growth this year and many more years to come. And we are not only talking of BPO, this year will see an emergence of KPO (Knowledge Process Outsourcing) sector that will further help cater to the new demands besides offering more specialized roles such as web design, market research, equity research etc.

New Outsourcing Destinations

Oversaturation and reduction in business growth have left businesses to search for alternate outsourcing destinations apart from the already established ones (India, Malaysia, Philippines). The five countries that will emerge as new destinations for outsourcing in 2019 are-

1. Bulgaria

2. Romania

3. Egypt

4. Mexico

5. Columbia

Artificial Intelligence

And lastly, comes the AI technology customization which will also have a major impact on the outsourcing industry in 2019. How? As more and more customers are inquiring about the AI capabilities or how AI can help improve their products or services or what role AI plays in helping us achieve our goals, it becomes imperative for outsourcing firms to hire AI experts to meet these growing client demands.

Conclusion:

In the end, nobody can argue that today’s disruptive outsourcing environment is filled with remarkable opportunities so as to enhance innovation and market competitiveness for forward-thinking organizations. And as you have already seen, 2019 is going to be an exciting year for outsourcing as it is filled with new technologies that continue to unravel and paradigms that continue to change.

Latest Innovation Swings in Customer Service

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With the increased adoption of tech channels in our routine life, the innovating customer touchpoints also experience the digital transformations that change the consistency of human sales and service channels. But with new technologies, challenges come too. The steep learning of using new innovations in customer services and support is needed to keep yourself up-to-date in the run.

Change is the only constant thing in the world of customer services and if you don’t go for these innovation swings, you will be left behind. The massive benefit of these developing trends is to give more and more realistic experience to the customers which improve your business revenues. Not only the money matters but it also encourages the process improvements, knowledge sharing, risk reduction and much more.

Small and medium business holders are adopting virtual storage and systems to counter a lack of data centers. In this way, the tech drifts of present days are proved as a strong strategy to advantage business process outsourcing. So, upgrading yourself with the latest innovation trends keep your BPO services ahead among its competitors.

What are the booming trends in Customer Service Technology?

Video Communication

Video voicemails are the one the top trends in these days. We know that eye contact is a more powerful tool to build up a strong relationship among customers and a client. So, face to face conversation or video proves a viable business improving tool with growing expectations of customers. With the help of Visual Voicemails, service providers can schedule meetings with the customers as well as clients for face to face interaction whenever it possible.

Real-Time Messaging

In this fast-paced world, customers expect you to be online always and interact via chat instead of email. Real-time messaging and responsiveness leave quite positive reactions on the customers. It’s not about Facebook Messenger or WhatsApp, but the on-site conversations really matter in gaining customer satisfaction.

Social Media Management Tools

Browsing social platforms has emerged as the third most popular online activity. So, for the BPO service providers opting social media management tools is a game-changing strategy. Companies these days invest more in real-time customer engagement instead of call center software programs. This will allow companies to gain first-hand insight over their products and feedback that enhance a company’s ability to analyze issues with the products as well as give solutions for future problems.

Talk Bots

Bots are different interaction mode and an opportunity to engage your customers more effectively. Bots can work all the time especially when your customer service team is asleep. We can say it is a self-service for customers that reduce expenses of BPO vendors by providing a new repeatable method of communication. This technology will continue to make a huge advance over the next few years and will be capable of doing more than humans today.

Machine Intelligence

Machine Intelligence or more commonly known as Artificial Intelligence is predicted to use in customer service by 80%. However, many call center outsourcing companies already using AI in their customer support operations. Nowadays, Artificial Intelligence is still a tool with fairly limited functionality. But in coming days this will prove as an efficient tool to suggest replies to human agents.

Google Voice

Voice technologies have been a major trend with the advent of Alexa, Cortana, and Google Assistant. Being present in Android and iOS phones, Google Voice is the leading digital assistant and the use will grow significantly in customer’s lives. In the coming few months, these technologies will rule the world and implementing these in your enterprise will helpful in your business improvement.

Data-Driven Technology

No matter, which technology you are using, but it must be an effective data-driven technology. These service technologies record a variety of information about customer interactions so, the added software must be beneficial across your entire organization. Your sales team will need this data to understand customer’s needs and use these insights during their sales pitch.

Conclusion

Balancing today’s priorities is a constant struggle while changing technology drifts. The customer support outsourcing is growing and the major concern is to increase skill shortage. That is actually possible with new generation technology. These new innovations continue to grow and benefits to encourage your business like no before. Outsourcing service providers at a global level are expected to use these innovations to effectively address market challenges.

Emerging technologies such as social media platforms, data-driven software, cloud computing, and automation providing cutting cost solutions to enterprises. Expanding businesses do not want to hire a large number of people for small tasks where these techs will help them in an effective manner. While it is an uphill task for many call center outsourcing service providers, many top-notch players of this industry already giving an edge with the help of robotic process automation in their standard client service portfolios.

Original Source: https://www.theoctopustech.com/latest-innovation-swings-in-customer-service/

Why Outsourcing BPO Services To India Is Still A Good Choice?

Western countries have been outsourcing BPO services to India for the last two decades. India has been the preferred destinations for all western nations to outsource various services like customer support, technical support, lead generation and many other BPO processes. This is not just limited to voice support but also non-voice processes like chat support, email support, and data entry services. But what makes India the number one choice of all these countries for outsourcing? Continue reading below to find out.

1)Extremely Cost Effective

Due to the huge difference in the currency value between India and western nations like the U.S or U.K, Indian workforce can work for a fraction of the cost of their American counterparts. This gives a huge benefit to foreign companies looking to outsource.

2)English Speaking Workforce

India is a country where a majority of the educated workforce can speak English quite well. This makes it easy for them to interact with western customers over the call. Because there is no language barrier, Indian companies can easily handle processes of English speaking nations.

3)Flexibility

It is a time-tested fact that Indian companies can provide 24/7 support and can work easily according to the schedule and timing of the clients or customers of the western part of the world.

4)Tech Savvy Employees

The Indian BPO companies have well trained technical staff and have a good reputation worldwide for providing quality technical support to customers of some of the biggest tech companies in the west.

5)Less Expenditure on Infrastructure

When companies have to carry out a process in-house, they have to bear the expenses of hiring and training of employees. They also have to spend money on infrastructure for these employees. Outsourcing to India takes care of all these issues and reduces the cost of operations. This also lets businesses focus on their core objectives.

6)Proven Track Record

As stated before, India has been the choice for outsourcing for the last two decades. The reason for this continued faith in Indian outsourcing companies is that they provide constant quality service and a track record for saving costs and increasing profits for their various prestigious clients.

The above reasons clearly prove why Indian BPO companies are the best choice even today for the west to outsource their various services. However, since the needs of their customers are changing at a rapid pace, they need to partner with companies that can provide customer support on various channels, not just through the voice channel.

They also need a company that can provide them a tailored solution as per their requirement and can scale as per their needs.

Original Source: https://www.theoctopustech.com/outsource-bpo-services-india/