admin Throughout all industries, we observe technology being a major factor in bringing about difference. This technology also evolved throughout the years. All industries around the world rely on Business Process Outsourcing service to keep the enterprise running smoothly.
The transformation of a tech-savvy industry is very high. To perform smoothly, BPOs have to maintain their process depending on current technology trends. Technology has played a vital role in the evolution of the BPO sector in recent years. In today’s business landscape, businesses which have a competitive advantage are the ones that leverage the power of technology.
Current Technology in BPOs
In response to technological trends, global BPO companies are slowly expanding and developing their service line. Especially the BPO companies are showing tremendous growth around great technological trends like big data, mobility and cloud computing.
Big data has powered BPO sector in a big way. Industry leader like Genpact has a 5000 plus analytical team accounts for it 15% revenues. Many other emerging analytics firms are focusing more on big data and moving beyond MIS reports. BPO analytical firms are responding to analytical reforms and allow real time data tracking and robust business decision making.
Most of the outsourcing companies in the USA are following collaborative models such as social media analytics for brand building and customer engagement to enhance their user satisfaction and productivity.
Major Aid for BPO: Data Analytics
Data analytics as a tool is used by Business Process Outsourcing companies to deliver and manage huge amount of data of business solutions. A number of BPO providers realized the value of managing useful information from huge volumes of data they handle every day.
Data analytics is very much relevant for BPO companies because of the volume of data they gather. By analyzing the data, they can generate strategic insights for their clients and can also engage more customers by retaining them. The rise of disruptive technologies has completely transformed BPO- customer relationship now. Businesses now need to focus more on providing best customer service by mapping individual preferences while delivering personalized services. Data can play a very crucial role in achieving this. A Gartner report says, 70% of the most profitable companies will be relying on Big Data for real time predictive analysis by the year 2017.
42% of high performing BPOs, which are the ones that get full value from their BPO relationships said that analytics is a major component in their service delivery package, according to a survey.
Predictive analysis can differentiate the quality of services provided by BPO companies in a long run. Many companies are now depending on predictive analysis to make their business solutions more productive and offer better customer service. With the opportunities that data analytics technologies have created, businesses are finding it strategically more useful to take a proactive approach in resolving challenges and opening doors for opportunities.
Cloud Platform
In the BPO industry, cloud computing and data storage transformed it to another level. The sharing of data and its retrieval became super-fast and easy.
They can eliminate unused space and storage and also at the same time reduce huge consumption of energy. Cloud platforms are cost effective. Cloud storage eliminates the need for IT department and servers which require large space and maintenance cost. Cloud computing can be the biggest influencer for BPO service providers in building industry specific solutions.
With the use of cloud, the outsourced services are delivered better. The communication and collaboration between the virtual/remote team and outsourcing party has been promoted by cloud computing which makes it easier to carry out these tasks.
Cost is a significant factor for BPO industry, To develop as a high-performing BPO, you have to deliver value added services with zero compromises to your clients. SaaS, PaaS, and IaaS suffice the organization’s IT needs that are ever growing today, the use of SaaS (Software-as-a-service) can help the BPO to keep pace with the constant change of technology at an economical cost.
Use of Diverse Platforms for Customer Reach
Now-a-days, Global development has led to the use of mobile applications that have changed the way customers approach service providers with any issues. Believe it or not, social media platforms are also one of the most preferred media of communication.
All possible platforms are used by BPOs to reach their customers as well as potential customers, to connect, educate, engage and provide support. Technology plays a crucial role in optimizing these mediums and providing communication without any hassle.
The world around business is developing rapidly and we find technology advancing BPO lead with the aid of growing technology.
The Future of Technology in BPO
Cost is a significant factor for BPO industry, to develop as a high-performing BPO, you have to deliver value added services with zero compromises to your clients. SaaS, PaaS, and IaaS suffice the organization’s IT needs that are ever growing today, the use of SaaS (Software-as-a-service) can help the BPO to keep pace with the constant change of technology at an economical cost.
With the ever-growing technological advancements and the increasing use of Internet worldwide, the data security and privacy have always been a primary concern for the business process outsourcing companies as they are responsible for the stakeholders including the vendors, suppliers and the client-companies. Since most of the transactions take place over the internet and in most cases the data processing is done by offshore BPO service providers, they demand secure environment. In fact, the recent studies reveal that, at times, vendors even considered amending the contract agreements so as to make these companies liable for breach of security.
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