CODIAC is a BPO outsourcing company that provides you with customized solutions that are tailor-made for your business requirements. Our business process services are scalable to adjust to your business goals and our areas of expertise range across multiple industries and verticals.Read our blogs for information about outsourcing.
Over the years, the bpo outsourcing industry has been providing businesses with cost-effective solutions to the clients. Emerging technologies such as cloud computing, social media marketing, software, and automation are being used by BPOs to reduce costs and accelerate growth. This trend will continue in the following year. Here are the three major focused industries in BPO technology in 2019.
Focus on Social Media Management Tools
Before 2000, the customer service industry was entirely dependent on websites and Interactive Voice Response (IVR) for transferring a call to the correct representative. Now, around 60% of the people have at least one social media account, leading to a notable shift in consumer behavior. Browsing social media has recently become the third most popular online activity.
Companies now realize that social media is important for their business. It provides consumer data and feedback that can enhance a company’s ability to analyze upcoming trends in the industry. Instead of call center software, companies now want to invest in real-time customer engagement that will allow them to gain first-hand product insights and turn issues into new products or solutions that will address future problems.
Emphasis on Process Automation
New technologies that have developed over the past few years, including robotic process automation (RPA), have begun to impact the BPO industry all over the world. BPO service providers face the risk of investing in RPA to keep up with the cost demands of business process outsourcers and the service offerings of RPA. BPO service providers further chance replacement by RPAs.
Investments in Cloud Computing
Flexibility and scalability – the two advantages cloud-based BPO offers to SMBs will continue to be essential for SMBs in 2019. Therefore, the adoption of cloud services and investments by top outsourcing industries in this technology will continue in 2019 as cloud computing becomes more mainstream, mature, and cost-effective.
Multitasking to Overcome Skill Shortage
A considerable chunk of BPO organizations is investing in new technologies in their supplying countries. Due to increasing levels of skilled work, 52% of businesses are concerned about a skill shortage in the BPO Outsourcing industry.Demand in high-skill operations is due to the industry’s need to reduce prices for routine services. High competition has forced BPOs to invest in lower costing alternatives such as AI and automation.
The threat of losing low skilled workers to automation has compelled governments as well as business leaders to educate their workforce to meet these demands.
Startups becoming BPO Customers
The past few years have seen an enormous surge in startup growth. Startups are under a lot of pressure to succeed under time constraints with limited resources.With a small budget to hire talent, these small businesses often look overseas for cost-effective labor.