The epidemic occurred just when we thought 2020 would be a typical year.
Everything altered in a second, scaring and affecting everyone. The health industry was thrown into a loop; economies were struck hard, and companies were left limbo.
While many businesses were severely harmed, the outsourcing philippines managed to stay strong. During the epidemic, it was the most competitive industry, and it continues to be so now.
However, it suffices to say that the business has seen specific changes that may have shifted the outsourcing landscape in the near future. What modifications have been made? In 2021, what outsourcing trends did we notice? In 2022, what could we expect?
Why Will Outsourcing Survive and Succeed?
The previous two years have illustrated how a virus may quickly alter our plans. Our world is becoming increasingly digitalised. Going digital is now a requirement for a company’s competitiveness and essential operations. Without advancement, digitalisation is unachievable. As a result, the need for software developers rises. In this framework, outsourcing philippines found its way. It has substitutes, but its advantages are gaining popularity.
The high degree of adaptability. There are no geographical boundaries. Accessibility to a large pool of experts and specialised professionals not available in-house. It is feasible to collaborate on a venture or simply a task for a short period. These benefits have bolstered outsourcing’s prominence in recent years.
Despite the outbreak, outsourcing investment increased to13.6% in the year 2020. From 2020 to 2024, the worldwide outsourcing industry is predicted to rise by $98 billion, with a CAGR of around 5%. Outsourcing has a bright future ahead of it. Outsourcing companies in the philippines will undoubtedly live long and bloom.
Top Outsourcing Trends 2021
Now it’s time to look at the outsourcing trends for 2021!
Increase & Advantage of Remote Work
During the epidemic, many organisations learned lessons in a difficult way, one of which is the use of working remotely. Work at home was simply an alternative before the difficulties caused by the COVID-19 pandemic. However, due to the epidemic, remote working became a new normal and the worldwide outsourcing trends.
However, not many organisations can put appropriate work arrangements in place. However, outsourcing companies are already benefiting from the ‘remote’ era. Outsourcing companies are recognised for providing a wide range of services that may be completed from distant workstations.
In general, they are not new to the concept of remote working. Before COVID-19, outsourcing companies have already implemented a remote work initiative for their employees. As a result, many enterprises are likely to choose outsourcing companies with the expertise, consistency, and competence to handle work-from-home responsibilities.
Adoption of RPA Technology
Outsourcing philippines depends on innovative technology to effectively complete jobs, which is why the sector continues to incorporate Robotic Process Automation innovations. Global firms have recognised RPA’s significance in outsourcing Philippines, and it has emerged as being among the BPO industry’s growing trends.
According to Grand View Research, the worldwide RPA market is expected to increase at a yearly growth rate of around 40.6 % between 2020 to 2027. So, how could RPA be so effective for Outsourcing companies in the Philippines?
RPA is a type of business process automation in which anyone can create a sequence of commands for a robot to follow. RPA bots can emulate most human-computer interactions to do error-free activities at high speed and volume.
RPA is a critical outsourcing trend since it enables BPOs to complete many repetitive jobs efficiently and effectively. This kind of automation may work in combination with human operations, resulting in increased productivity and profitability.
Investment in the Cloud Market
We all have heard about the “cloud,” and it’s becoming increasingly popular. Cloud Computing, according to sources, is a newer version of outsourcing. So, what exactly does it accomplish?
According to Microsoft Azure, Cloud Computing provides computing services, such as servers, databases, storage, networking, analytics, software, and intelligence, through the Internet (“cloud”) rather than storage devices or physical servers. Organisations benefit from cloud computing because it minimises operational costs, allows faster access to data, and improves productivity and data protection.
Therefore, Cloud services are becoming more ubiquitous and in demand in the future; investing in them would profit outsourcing companies or BPO industries.
Need for Social Media Services
Industry and business have become significantly influenced by social media. It has evolved from a simple online platform for socialising to a powerful commercial tool in various sectors. Of course, outsourcing companies, being the forward-thinking industry, will not overlook the numerous benefits that social media offers them.
Customer expectation for multi-channel communications has fueled the growth of social media marketing. Businesses follow it since customers are always on social media and like to communicate through these channels.
Social networking technologies are now included in the different outsource customer service offered by BPO companies. Outsourcing companies in the Philippines frequently use social networking to improve outsource customer service. It may be done by social media monitoring, consumer analytics, live chat, customer responses and feedback, and other ways.
Outsourcing companies that provide social media management should expect increased demand from customers who lack industry professionals. As a result, BPOs would probably continue to outsource customer service and social media, and they will need to spend more on technologies and expertise.
Omnichannel Experience Capacity
When it comes to multi-channel communication, concentrating only on one technique may be a relic of the past. As a result, the omnichannel experience—an ‘integrated’ multi-channel interaction—is very appealing to today’s customers.
Omnichannel is a method for increasing user experience by tying together a customer’s interactions across several channels. It enables users to go on their experience from one channel to the next, resuming from where users left. Unified communication throughout channels is critical for a smooth experience when consumers engage and move from one channel to another.
As outsourcing businesses are known for breaking new ground in terms of technology, developing the necessary resources and tools to provide an omnichannel experience is entirely within their capabilities. It will assist their personnel in terms of efficient procedures, but it will also allow them to provide omnichannel solutions to their clients.
Increase in Small Business Customers
Previously, outsourcing Philippines advantages were only available to large corporations and well-established businesses. However, given the current outsourcing industry trend, it is clear that startups and small businesses seem to be interested to outsource customer service and other services.
With the limited budget, small businesses and startups have to do it with scarce resources they could purchase. As a result, they regard BPO businesses as having a lot of cost-effective alternatives to provide in outsourcing.
The outsourcing industry and its services are expanding. Call centres are no longer the focus of BPOs. The industry is constantly changing to meet the demands of current and new clientele. As a result, outsourcing companies require personnel with the required expertise.
However, as technology infiltrates the commercial sector, employment continues to be jeopardised. As per the Asian Development Bank, automation would result in a % employment decline in the BPO or electronics manufacturing companies by 2030.
But, the outsourcing industry will not succumb just yet. Indeed, BPO executives invest in upskilling their employees by providing them with professional education in various business operations.
With the advent of automation, robotic process automation (RPA), analytics, and cloud computing, outsourcing experts should have the necessary knowledge to offer the desired outcomes to customers. Having the essential expertise and abilities will be a significant benefit and draw for keeping up with potential outsourcing requirements.
Although the pandemic had devastating damage on businesses the last year, the trends are unlikely to be influenced this year. As a result, the outsourcing trends for 2022 will be very similar to those of the previous years.
Most of the trends highlighted have previously been observed by the industry, with the exception of one thing: remote work. Before the pandemic, remote work was simply a choice for organisations, but it has become much more common due to the downturn. However, it’s important to remember that these trends keep changing and that we’ll never know what the future holds, so we must continue to move and evolve with technology. Now is an excellent opportunity to outsource your work with staffing and leasing at affordable rates. Feel free to contact us today!