The past decade has bore witness to the growth of the BPO industry. And as it’s expected to to generate $332.5 billion by 2025, here are four BPO services trends that you can expect in 2020:
- New Technologies – The industry is rapidly changing, and it’s changing for the better as it strives to further accelerate growth by embracing new technologies. Major technology trends that emerged last year are expected to gain more traction in 2020. These are
- Robotic Process Automation – In our blog BPO Trends | Insight & Benefits of Robotic Process Automation Customer Service, we discussed how RPA will be used to improve processes by helping their human counterpart with repetitive, mundane, and tedious admin tasks. This will result in better data management, reduced workload, and faster service. Although this shift may shrink the workforce in the coming years, it is expected that thousands of higher-skilled jobs will be created in the process especially in BPO companies philippines.
- Cloud Computing – Cloud services have made it possible for small and medium businesses to afford advanced storage and infrastructure despite their limited budget. As cloud computing offers flexibility and scalability, more outsourcing companies will adopt this and trend and more follow suit in the next years.
- Social Media Management Tools – With a penetration of 45% or 3.484 billion users, companies have adjusted their strategies to include social media. BPO services providers have adapted to this shift in consumer behavior by offering various social media services ranging from community management, insights/analytics, and advertising.
- Urgency for Real-time Communication – With technology making the world smaller and our communication faster, consumers are now more sensitive to response or turnaround time. Take note that 82% of customers believe that fast resolution makes a great customer service experience. Make your customers wait and your brand will suffer the consequence. In outsourcing, providers now offer live chat on top of 24/7 customer support to adapt to this trend.
- More Startups Seeing the Value of Outsourcing – With 30.7 million reported small businesses in the United States alone, the world has seen a surge of startup growth in the past years. Another thing that’s expected to grow is the relationship between startups and outsourcing. Just check out this list created by Perfectial.com of famous startups that became successful when they outsourced their development team:
- Continued Dominance in the BPO Industry – Outsourcing front runners like the Philippines, Malaysia, and India will continue to be top destinations for outsourced services in 2020. This is especially true for the Philippines which currently ranks highest in terms of English proficiency among the three countries and boasts a literacy rate of 96.3%.
The year 2020 holds good promise for those in the outsourcing industry. For business owners, now is the best time to consider a partnership with a provider as BPO companies continue to improve their technology and processes to adapt to challenges and trends. One of them is Forward BPO, an Australian-owned contact centre in the Philippines.
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