The year 2013 has been riddled with uncertainties as regards the global economic scenario. This has reflected on the outsourcing sector in the form of new challenges that they need to face in the current economy. The BPO industry is gearing up for the tough road ahead even as they have signed new deals and taken on novel projects. There does seem to be some respite following the prediction of some developing markets in the latter part of 2013.
Calls for providing more job opportunities to local workers have been one of the reasons for stunted growth. Outsourcing companies need to be careful while choosing vendors since financially unhealthy service providers are likely to pose a huge risk to business. In addition, changing scenarios and new political environments have led to the framing of new laws that may have a direct or indirect effect on outsourcing.
New capabilities to offer the driving force for growth in BPO
In tune with the changing scenario, the outsourcing sector should look towards developing new capabilities for maintaining their foothold in the industry. The development and application of tools for big data is one such element that will enable enterprises to evolve and adapt to new environments. These are essentially a large collection of datasets that cannot be handled by traditional models. As a consequence, many companies have been outsourcing such projects to the BPO industry. Creating innovative solutions for this field will impart the much needed drive for growth.
Valuable intelligence regarding business growth can be provided by companies to clients. This requires the development of capabilities that will aid in effective analyses and research studies, thereby yielding valuable information that can be passed on to clients. Companies should constantly search for new avenues that will provide them the necessary details about the development of potential areas to which they could branch out their services.
Automation of processes is vital in keeping up with the increasing demands from the outsourcing sector. This helps in speedy delivery of products and services that will keep the clientele satisfied and come back for more. For example, publishing services are widely outsourced to countries like India and China.
Some companies make use of advanced in-house editing tools to deliver hundreds of pages per day, which exceeds the client’s expectations and demands. Such innovative work solutions are what customers are looking for and those that will give a boost to the outsourcing industry.