The BPO industry has been largely driven by the various segments that contribute to outsourcing. The outsourcing process brings in many benefits that propel businesses to a trajectory of success. Among the various sectors covered by this industry, the top 5 outsourced fields have brought in better opportunities for the BPO industry. These fields have been outsourced for a variety of reasons. Even though the main factor behind outsourcing may be cost-effectiveness, there are other aspects that companies take into consideration while offshoring jobs.
Companies often want to focus on the core of their business operations. For this purpose, they may decide to outsource customer service to an external agency. This makes it one of the top 5 outsourced fields in the BPO industry. Outsourcing customer service helps companies reduce costs since most of the back-office operations comprise this area. In addition, unavailability of human resources is an issue that can be solved effectively by this process. The large number of call centers spread over the BPO industry is testament to the fact that customer service is a thriving sector in this domain.
Top 5 outsourced fields give impetus to progress
One of the fastest growing areas for outsourcing is Information technology (IT). Under this sector, a large number of functions are outsourced. These include applications development, mainframe data centers, desktop systems, end-user support, consulting and reengineering, networks, full I/T outsourcing, maintenance/repair, and more. When these operations are outsourced, reengineering benefits are accelerated and operating costs are reduced.
Finance is another sector that comes under the top 5 outsourced fields. Under finance, the BPO industry deals with payroll processing, taxes, general accounting, transaction processing, and purchasing. This helps enterprises manage the rest of their operations effectively
Outsourcing reduces the risk borne by a company. When investments or functions are shared, the risk factor also reduces. Telemarketing, field sales, direct mail, advertising, and reservation and sales operations are outsourced under the sales and marketing field. This is another important field that is outsourced widely by companies. Healthcare also one of the top 5 outsourced fields. Under this field, deployment of the latest technology required by hospitals, finance, and resource allocation are some of the areas covered. Outsourcing enables hospitals to keep up with the latest trends and procedures in healthcare.
The top 5 outsourced fields have given impetus to the development of the BPO industry. In each of these fields, innovative ventures are being set up and new directions being explored. These fields thus act as the powerhouse of the industry, giving rise to fresh dimensions at every turn of the way.