Top trends of the Outsourcing Industry in 2017?
Outsourcing has revolutionized the way businesses operate today, evolving with time, to match industry developments. The race to deliver the most affordable and efficient services is increasing each year. The outsourcing strategy is evolving rapidly besides the changing business dynamics. This gives a competitive advantage to companies which outsource part or their entire activity to reliable partners.
However, 2017 will see further development and innovation in this segment with trends specifically related to cloud technology, social responsibility, and data security. This year the trends mentioned below will influence the outsourcing industry:
• Data Security Becomes Top Priority:
Development of new technologies has raised important security concerns, while internet of things (IoT) prevalence further intensifies the risks. Thus, 2017 is expected to see the emergence of Security-as-a-Service, offered by security expert companies, all backed-up by BPO companies. Enterprises and outsourcing agencies will strive to protect the data with advanced measures, irrespective of its size and location.
• The Demand for Higher Efficiency:
The outsourcing industry is inclining towards offering more efficient services by automating processes. The next focus will be on increasing automation and scalability with an emphasis on the development of reusable platforms to deliver efficient tech support for the IoT.
• The Robotic Process Automation:
The Robotic process automation is on its way to increase the ease and efficiency of the business processes.
The automation will ensure increased productivity at reduced costs through a quality process execution, using software robots to replace humans for repetitive tasks. However, a rise in this trend will have an economic impact in the management and re-distribution of manual (humans) and automated tasks (robotics). New agreements between vendors and clients have to be reviewed and the government has to amend laws in relation to labor force accordingly like for example, protection of employees.
• The Buyer-Oriented Contracts:
Instead of fixed vendor-specific terms, the trend is changing with contracts to be formed as per buyers’ needs. Businesses will now be able to get contracts framed with favorable legal & commercial conditions variable upon their needs. It is a “pay as you sell” trend.
• The mighty Cloud:
The Cloud technology is set to become the next trendsetter for the outsourcing market, with more businesses moving to cloud-based softwares this year. This will enable outsourcing companies to deliver improved and innovative services, by analyzing the BIG DATA to understand their client’s needs. This will lead to an increased efficiency in business processes and thus higher turnovers for all parties.
• The Socially Responsible Outsourcing (Impact Outsourcing)
A new social responsibility based model for business process delivery is expected to gain attraction in 2017. The focus of this model is to empower socioeconomically disadvantaged workers in BPO centers. The Everest Group estimates the current employment under “impact outsourcing” at 2,400,000 and is expected to grow this year. Companies working towards social responsibility and diversity goals will also receive various grants and help from their countries’ government.
Techmode Outsourcing Ltd enhances greatly its services every year to accommodate greatly to the new trends. This leads to improved services into outsourcing industry. Techmode Outsourcing, since it’s existence in 2007, has been one of the pillars in this industry and continues to improve.