If you’re running a BPO company or working in one, you’ve probably heard a lot about automation lately. It’s the buzzword of the moment, and for good reason. In 2024, automation is not just a trend – it’s a necessity for future-proofing your BPO. Read More
In the dynamic landscape of business process outsourcing (BPO), a transformative wave is sweeping across industries – the wave of automation. As BPO companies embrace innovative solutions, the integration of automation into various business processes is becoming a game-changer. Read More
In the fast-paced world of business process outsourcing (BPO), the buzz phrase on everyone’s lips is “business process automation.” But what’s all the fuss about, and why should it matter to you? Let’s cut through the jargon and get to the heart of how business process automation is revolutionizing BPO.
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In the ever-evolving world of business process outsourcing (BPO), a buzzword that keeps cropping up is “automation.” But what does it really mean, and why should you care? Let’s break it down in simple terms and understand how this automation thing is revolutionizing BPO.
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The global business process outsourcing market is expected to grow by 105.49 billion USD between 2020 to 2024 and this spike in numbers can be attributed to the transformation brought about by automation.
In today’s world, technology is the single unifying factor that is transforming everything, from the way we carry out everyday essential tasks to the way we work, share and collaborate. If steam power was the driving force behind the industrial revolution, then advanced, cognitive automation can be rightly called the driving force behind the digital transformation in business.
In today’s competitive environment there is very little room for error and even less room for operational delays and inefficiencies which leads to a constant need for business process improvement. Backed by automated workflows and smart processes, businesses are continually redefining the limitations of what they can achieve and being left behind is simply not an option.
Business process improvement or BPI refers to the practice of analyzing, redefining and improving essential business processes for optimum performance and improving the quality of customer experience.
Outsourcing can be called the combined creation of the modern era of global trade, improving geopolitical relations and worldwide internet connectivity that enables collaborations and integrations across cities, countries and even continents.
During the initial years, outsourcing was only used for basic processes such as data entry and payroll processing. However, as connectivity expanded and the technological skills of BPO companies advanced, businesses started outsourcing more and more processes/services. Today, you can outsource many backend processes and financial/operation functions such as invoice management, accounts payable processing, survey reporting, and utility bill management to name a few.
This has driven innovation and created new business process outsourcing trends and practices.
When outsourcing work that you are currently doing in-house a decision has to be made. Do you want to only hire out the people doing the task, or, are you looking to outsource the complete process as managed services? Read More
