Escalating Demands of Outsourcing in this Digital Era

Industry Insight

Businesses are now increasingly reforming into a more digital and technology-dependent organization. This in turn raises the expectations to keep up with the fast-paced service delivery. There is a peer pressure on all such companies to be always online and responsive to their clients. The Internet means activities – ordering, bill paying, information gathering, life organizing – are done quickly and without a second thought. It’s only when the system breaks that we notice it’s even there.

Within a maelstrom of such activities, firms are tossed about like dinghies on rough seas. They are plugging gaps, reacting to peaks and flows in demand, and allocating resources according to the shifting sands of customer fancies.

While outsourcing has been around for decades, its demand in the industry is still evolving. “Outsourcing not only continues to expand across mature functions, such as IT, finance and human resources, but it also continues to move into non-traditional functions such as real estate, facilities management and procurement,” according to key insights from Global Outsourcing Survey 2016, carried out by Deloitte compiled for 280 companies spanning the globe.

Indian outsourcing companies are on an acquisition spree, driven by an increasing need to both deepen and broaden their capabilities in their quest for growth and scale. The key to the outsourcing industry’s sustained triumph is how the industry continues to revolutionize and how outsourcing companies take this revolution and technology to their client’s businesses. Some of the ways on how outsourcing can help your business keep up, and even outshine the new-age competition are listed below:

To learn and Implement emerging technologies in your industry 

Outsourcing is no longer done just to answer customer’s queries or balancing books. As technology moves forward, it only makes sense that the industries that are deeply rooted in transformative technologies deliver values to its clients and are one of the first to learn about and implement these new advancements. Therefore, companies are considering their BPO partners to help them capture and assimilate marketplace advances and new practices. Other companies also depend on their outsourcing providers to familiarize them with new software and services such as cloud-based service delivery and process automation. A significant takeout here is that partnering with the right outsourcing firm can help your business stay on top of new technologies and innovative practices.

To help your company function better and more efficiently

While the outsourcing industry might have started because of cost-savvy businesses seeking to reduce their overhead costs, the role of this industry has changed enough and the benefits of partnering with a BPO goes beyond cost reduction and instead becomes a strategy to ensure business efficiency and strategic use of resources. Companies found that by outsourcing non-core activities, their employees were able to focus more on primary and profitable business tasks. But don’t keep the misconception in your mind that ordinary tasks are the only activities that a business can outsource. The right outsourcing partner can carry out tasks or activities that call for higher levels of expertise. Many businesses find that having an outsourcing partner relates to having a team of on-call experts. This also helps in compiling a company’s risk reduction strategy, taking much of the burden off your shoulders and into the hands of experts.

Strategic approach towards on-demand Outsourcing

Businesses in this fast-paced world need to react to the peaks and flows of demands. Small businesses are particularly susceptible to this as they usually do not have the resources to invest on a vigorous workforce that might not be needed throughout the year. Outsourcing gives them the flexibility to grow their team when needed and scale back when not. On-demand outsourcing is still in the initial stages of its maturity, but many industries are already taking advantage of this new trend and use it for planning ahead for demand-intensive seasons. Examples of these industries include the hospitality sector which uses on-demand outsourcing to keep up with the inflow of more guests on a seasonal basis; businesses that deal with logistics also see an increase in delivery demands depending on the season and must be able to meet those demands when needed; while retail companies take benefits of on-demand outsourcing by increasing or decreasing their sales staff, IT, and customer services.

Given the right field to flourish on, outsourcing will not only help you to address the immediate needs that your company is facing, but also provide assistance to improve your process, resulting in higher investment returns in the near future.