Recent Trends In Business Process Outsourcing
With growing fears of a US led recession, not many experts seem to be optimistic about the future of business process outsourcing industry. The irony however is that in spite of the adverse circumstances, the BPO industry still continues to grow, both horizontally and vertically. This may seem almost magical, but if you take a closer look, you will realize that the magic is nothing but the hard work and foresight of the BPO industry on the whole. Having anticipated the emerging trends and challenges a lot earlier than other industries, BPOs had enough time to devise newer, more innovative strategies and work processes that eventually helped them to emerge a winner.
Winners they certainly are, but they can hardly afford to rest on past laurels because the offshore outsourcing business environment is changing even faster, mainly due to the development of newer concepts and availability of newer technologies. This is why the BPO industry is constantly on the lookout for newer customer management and service delivery systems that might help satisfy the growing needs and expectations of clients. As of now, the BPO industry seems to have achieved this objective, evident from the increasing use of new customer service concepts such as BPO 2.0.
BPO 2 has succeeded where other systems have failed because it lays stress on the use of advanced yet cost-effective technologies. By deploying BPO 2, the BPO India industry has thus been able to achieve the two most important objectives viz. improving efficiency and quality and reducing operational costs. Improving efficiency and quality has become the need of the hour because customers have become more demanding and would just not settle for mediocre customer services. The need to reduce costs even further has however risen due to increasing intra industry competition and also due to the reduction in outsourcing budgets of client companies. Availability of other low-cost outsourcing hubs outside of India is another factor that is forcing Indian outsourcing companies to undertake cost reduction exercises.
As of now, BPO 2.0 deployments have been limited mostly to the call center India industry, but considering the huge benefits derived by this particular industry sector, it would not be wrong to assume that other sectors of the Indian outsourcing industry too stand to gain from BPO 2.0 concepts and methodologies. However, for that to happen, outsourcing companies would have to do a rethink of their existing strategies and most importantly prepare themselves for the potential changes that might become a reality through BPO 2.0 deployments. This in turn would require increased participation of available human resources in organizational matters and the development of the requisite infrastructure that can support the advanced technologies proposed under BPO 2.0.
The future might be even more turbulent or it is also possible that conditions may become favorable for the business process outsourcing industry. Whatever be the case, one thing is certain that BPO 2.0 is here to stay, obviously because it is a comprehensive customer management and service delivery system and not just a means to reduce costs. This is certainly good news for those who have already deployed BPO 2.0 and also for those who are in the process of doing so.