As a business leader, understanding current outsourcing trends can assist you in navigating the outsourcing landscape and adapting to the new normal of the post-pandemic world.
The patterns reflect the changes brought about by the pandemic in the outsourcing sector during the last twelve months. It implies that in 2022, organisations would need to hunt for excellent service providers, strive for high flexibility, and harness updated technology while outsourcing.
This post will describe the top outsourcing trends to watch for in 2022. We’ll also look at the year’s most outsourced services.
Modern companies now emphasise providing high-quality services to their customers. They will require qualified staff and advanced technology to accomplish this, which can be costly in most western countries. Because of the cost involved, businesses outsource tasks such as software development, accounting, recruitment, and payroll management.
Additionally, outsourcing helps businesses to provide customised solutions to their clientele. Outsourcing organisations have the experience and resources necessary to create completely tailor-made solutions.
Before the pandemic, companies preferred outsourcing with multiple vendors. But now, most of them want a strategic partnership with one, as per Search It Channel’s study in 2021. Businesses now believe partnering with fewer outsourcing companies can ensure business continuity.
Frequent changes in service providers can disrupt business continuity. Businesses are more likely to build a strong relationship with their outsourcing company when they work with the same team for an extended period. A strong bond increases commitment and trust, which are essential for successful outsourcing.
The COVID pandemic and the lockdowns that followed have been chaotic and disruptive. Numerous countries are still struggling to recover from a year-long economic blow. According to the Deloitte 2020 Global Outsourcing Survey, these factors are causing enterprises and service providers to increase their work flexibility. To meet the increased agility requirements of businesses, an outsourcing provider must be able to:
According to a ManpowerGroup survey conducted in 2021, 69% of businesses in the US find it difficult to recruit qualified candidates. Most critically, there is a scarcity of talent specialising in new technology. According to a Gartner 2021 poll, this shortage is the most significant impediment to the adoption of technology in domains like networking and security.
Companies are outsourcing tasks to vendors with specialist talent since it is time-consuming to upskill in-house personnel.
A corporation can rapidly get the expertise it lacks in-house from other places by outsourcing to a professional vendor.
Businesses that stay current with evolving technology can leverage it to automate procedures, boost productivity, and streamline operations. Software development, automation, IoT (Internet of Things), and other cutting-edge technologies are continuously evolving. As a result, businesses outsource their operations to service providers.
A service provider is a specialist in their profession. As a result, they are more likely to stay current on technological breakthroughs than in-house staff. The following are the most recent and popular technologies in the outsourcing industry:
Robotic Process Automation (RPA) Solutions
RPA is a type of software technology that enables the creation, deployment, and management of robots that perform simple tasks. The demand for RPA is increasing as businesses realise the cost savings associated with automating repetitive processes. According to 2021 Grand View Research, the RPA industry was valued at $1.57 billion in 2020 and is predicted to grow at a 32.8% compound annual growth rate between 2021 and 2028.
Cloud Computing
Cloud outsourcing is required to access other modern technologies like AI, RPA, and machine learning. It also allows a business to acquire, store, and access resources in the cloud. According to a 2021 Cloudwards survey, the value of cloud computing might reach $947.3 billion by 2026. Furthermore, in 2019, 94% of all surveyed tech organisations used cloud services.
Artificial Intelligence and Automation
Businesses and outsourcing firms utilise AI to automate repetitive operations such as calculation or message response.
Additionally, AI enables companies to enhance their client service. Outsourced AI services such as chatbots or cloud-based IVR (Interactive Voice Response) are commonly used.
According to a 2019 Grand View Research poll, the AI market will be worth $62.35 billion in 2020 and is expected to rise at a 40.2% compound annual growth rate from 2021 to 2028.
Digital transformation can create multiple avenues for intruders to access internal data. According to a McAfee survey from 2021, 81% of businesses experienced cyberattacks during the COVID-19 epidemic. However, maintaining an in-house security team can be challenging. That is why companies engage a Managed Service Provider (MSP). A managed service provider (MSP) is a third-party service provider that oversees a specialised business, such as data security.
Businesses are outsourcing cybersecurity to managed service providers (MSPs) because they are more likely to have cyber security professionals and advanced solutions. According to Statista, MSP demand is so strong that it was valued at $152.02 billion in 2020 and is anticipated to reach $274 billion by 2026.
Outsourcing allows small businesses and startups to gain access to the best talent and technologies at fair pricing. These businesses outsource repetitive tasks to save time and expense. Due to their limited budgets, small businesses are also less likely to have experienced employees. Outsourcing allows them to get the best people.
According to a Clutch survey, 80% of small firms in the United States planned to outsource at least one business operation to a vendor in 2022.
In 2022, customer experience will continue to be the primary brand differentiator, providing firms with a competitive edge. Businesses may need to invest more in customer assistance to create a better user experience.
Concentrating on the client experience enables businesses to:
However, the unpredictability of client call numbers might be challenging to manage. Companies may need to quickly scale up and down and manage their staff to function properly. This creates new potential for outsourcing customer service.
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