Many companies have previously viewed business process outsourcing (BPO) as a viable method to greatly improve their cost base and skills. However, digital change is challenging long-held beliefs about the future of work, as well as the pace and expense of getting there. Is BPO a thing of the past?
For many years, business process outsourcing (BPO) has been a prevalent practise in the technology industry, allowing businesses to outsource non-core tasks to specialised service providers. The possible benefits of BPO have grown even more significant with the rise of digital technologies, as businesses can utilise new tools like artificial intelligence, automation, and analytics to improve the quality and efficiency of their outsourced operations.
A Gartner report projects that by the end of 2023, 75% of customer management BPOs will implement AI, automation, and cloud services as they lower operational costs and provide a competitive advantage.
There has been a lot of talk about how digital transformation is changing the way businesses execute critical business processes like finance, HR, IT, procurement, and operations, and how it is increasing the possibility for performance growth. Getting BPO right in a digital future requires careful planning and execution.
Key factors to optimize outsourcing strategies
Define clear goals and metrics: Before outsourcing any process, it’s essential to establish clear goals and performance metrics that align with your business objectives. This will help you select the right service provider and track progress over time.
Choose the right partner: When selecting a BPO provider, look for a partner with expertise in your industry, proven experience with digital technologies, and a strong track record of delivering results. Consider factors like geographic location, cultural fit, and cost-effectiveness as well.
Invest in technology: Digital technologies like automation, AI, and analytics can greatly enhance the efficiency and accuracy of outsourced processes. Ensure that your BPO provider has access to the latest tools and technologies and is committed to ongoing innovation.
The boundary between a business and its outsourcing partner will be redrawn. Automation and an emphasis on creating new strategy skills will result in some work being moved in-house. As the economics and operational procedures of finance, HR, IT, and buying fulfilment change, the connection between the buyer and the vendor will also change.
Blue Helion has assisted numerous companies in realising their full potential and scalability. To find out how you can benefit from our consulting services and make the most of outsourcing, contact our top industry specialists. Schedule a free meeting with our specialists today.