Outsourcing has benefited numerous industries through the years, and it has led to overwhelming improvements in work efficiency while reducing costs.
Before, outsourcing was mainly used for manufacturing. Today, we’re now at the age of online outsourcing, with a broader range of services being spread across the globe.
In the coming years, the face of outsourcing will also change and evolve to meet increasing demand, as well as keep up with the dynamic and rapidly advancing technologies.
The Future of Outsourcing
Philippine’s business process outsourcing continues to gain popularity, with companies ranging from startups to Fortune 500s brands using outsourcing as a key driver for growth.
In the next 10 years, we can expect the continuation of some outsourcing trends, as well as the emergence of fields that can have a huge impact on how businesses will be run in the future.
Prediction 1 – Everything on The Cloud
Most businesses have already switched to cloud computing to outsource some of their work to other companies.
There are several benefits to adopting this trend on a global scale:
- Improved business collaboration between the client and the BPO company due to system standardization.
- More available storage on the cloud.
- Better data security due to impenetrable cloud security systems.
- Streamlined data administration, which allows for faster access to the company’s resources for outsourced teams.
Prediction 2 – Lack of a Highly-Skilled Workforce
An increasing number of companies are turning to BPO sectors for workers who can handle high-end services such as mobile applications, cloud computing, digital technology, and more.
Outsourcing companies are expected to invest more in AI and automation in the coming years to fill in the gaps for work that should have been given to skilled workers.
Other services that may be affected include financing and accounting services, such as billing, receivables, accounts payable, and more.
Prediction 3 – Emergence of More Lucrative Countries to Outsource
The countries that are considered the frontrunners in outsourcing are the Philippines, Malaysia, and India.
In the coming years, there will be more countries on that list, including ones from Europe.
Bulgaria, Romania, Egypt, and Mexico are slowly gaining popularity as ideal outsourcing countries, mostly due to the cost-efficiency and availability of highly-skilled workers.
The growing industry competitiveness and pressure to conduct business operations at lower costs are two main factors that will shape how the outsourcing industry will look in the next 10 years.
Overall, it’s clear to see that outsourcing won’t be slowing down any time soon. If anything, it will only continue to rise, which is good news for both companies and the leading BPO nations.