The BPO sector has evolved into one of the most profitable industries in the history of business. The IT outsourcing market, 2013 has been on a path of progress, which indicates an upward trend for the rest of the year as well. A study, the Econsultancy/United Studios Digital Outsourcing Survey, conducted in the previous year had revealed that outsourcing was carried out by 57% of the respondents. In addition, it was reported that the type of work that was outsourced by the majority of businesses fell under the technical domain. Technical operations were outsourced at a rate of 66% by many companies.
The International Association of Outsourcing Professionals (IAOP) had predicted in 2012 that the BPO sector would continue its growth in 2013. Moreover, new and solid opportunities were reported to emerge across different industries. Other bright prospects that were forecast for the IT outsourcing market, 2013 include technology solutions, corporate social responsibility (CSR), services towards protecting data and controlling the risk factors involved, onshore and nearshore destinations, and professional certifications.
Regionalization of operations is apparently another trend that is evolving rapidly in the IT outsourcing market, 2013. This involves sending a team of experts to the base of outsourcing activities in order to enable the efficient delivery of services or products. Furthermore, this meets the requirement of the true global delivery model that has been envisaged for the BPO sector.
Health outsourcing is another field that is expected to get a boost this year. The Healthcare Reform Act in the United States has brought many more individuals, by the thousands, under the health insurance policy. This in turn will create the need of processing a large number of policies, and hence, many hospitals and companies in the heath sector are likely to turn towards outsourcing.
Evolution into new avenues of growth
The IT outsourcing market, 2013 is expected to make forays into new sectors and tread on new grounds. Pricing models are also expected to be upgraded in the long run. As of now, the year has seen some acquisitions and mergers. Focus is expected to be given on business outcome.
Furthermore, implementation of innovative tools and technology is reported to rise. For instance, more and more companies are taking their businesses to the cloud. This has also come as a boon to the enterprises that specialize in creating new technological tools. This area of the BPO sector is set to witness rapid development throughout this year.
The trends for the IT outsourcing market, 2013 look positive as new avenues are being explored taking the BPO sector to greater heights. The outsourcing industry looks set to gain a new avatar as novel strategies and policies are being implemented on a larger scale.