2016 Trends That Can Make or Break the BPO Industry - Are You Ready?

Outsourcing continues to let BPOs be in business. But it is emerging technology which will be instrumental in making or breaking the BPO nucleus in 2016 and beyond. Unless you keep pace with the trends, you might suffer a slump. Join us in catching up with the latest trends that need to be added to the planning strategy for continued progress.
Abhishek Jain
Published on: 19th October 2016
Bi-model IT is shaping new processes

BPOs need to enable themselves to use cloud services (hybrid models), social media platforms, automation, and business analytics. These will be the main drivers for the entire year, as they will mitigate cost factors in several departments. There are BPOs with high performance and their long-lasting business relationships have been a result of the value created through technology. Leading BPOs feel that it is the use of new technology that is helping them stay ahead of competition. Accenture has researched and found that 40% high-performing BPOs tried innovation to be in business with the assistance of technology. As service providers, they need to keep pace with new trends. They also need to use effective processes that enhance their relationships with clients.
Make or Break the BPO Industry
Facing economic challenges with automation

The year 2016 will be the age of dynamic processes that will cut more costs. Worldwide, economies are failing and few BPOs have reeled under the biggest threat – lay-offs. Earlier, the need to cut cost was taken care of by noncore systems. But today, automation will cut core process costs. It will be a major driver for many companies dealing with outsourcing processes. As new solutions emerge, the new mantra will be to make virtual and external processes. That is where cloud-based services will be significant as mentioned earlier. And it will permit BPOs to use big data and bring value to daily operations.

Will large-scale operations of BPOs end?

The efficiency of any business process will now be measured by tangible values. As big data will be accessed, the insights that go into analytics will assist clients. They will be better informed with critical knowledge to do better business. It is analytical information that will provide opportunities. It will not be a burden on BPOs, even if a few additional resources are required. The automation will be useful in maintaining finances and accounting. Smaller operations will succeed more. Will it end larger processes? Time will tell, may be by year-end.

CIOs will shape dependency

Leadership in any organization is measured by the ability to understand nuances of new trends and drivers. CIOs will need to be visible and understand how to re-position the planning strategies. If need be, one should take the interdependencies of departments and IT resources. Once they understand that IT is the largest enabler of the company, they can leverage the same to serving clients. The need to focus on cloud services will be a major factor and one will have to be part of the vision. It will honor the main business principles of being accurate, predict changes, and allow timelines to be adjusted for processes that are added.

Protection from smaller players

Across US, big players like IBM and HP are seeking to reduce costs to keep cheaper BPOs at bay. They are partnering with clients for value-added IT services and it is obvious they are protecting their core business. Summing up the 2016 drivers for BPOs

1. Usage of cloud services, social media platforms, automation, and business analytics
2. Challenges with automation of core processes
3. Enabling smaller operations instead of large-scale ones
4. CIOs may re-align the planning strategies and adjust to innovative IT-enabled processes
5. Centralization and uniformity of IT services will rule

Author Bio:

Abhishek Jain has over 10 years of experience within the BPO Industry and Human Resource outsourcing services, Corporate Business Process Outsourcing (BPO) Services india, delivers and manages various offshore/onsite projects in various technologies and domains.
On a scale of 1-10, how inspiring did you find this article?