1. Cloud Computing
Companies will significantly increase their functional capabilities in IT segments and other key process areas with better management of client’s problems and requirements. No doubt, there will be a massive workload for the consultants in the coming months across the globe.
In 2015, Markets predicted that the industry of cloud computing, which is mostly associated with outsourcing would reach a worth of $121 billion. In 2018, the figure is actually expected to reach 200-Billion USD in a short span of time.
The cost-effectiveness and an ability to offer customized solutions to clients will pave the success chart for outsourcing firms. Big IT giants like Amazon, IBM, and Accenture among others are likely to get more competition from other IT service providers.
2. Information and Data Security still Remains on Top
Another thing that is likely to top the thinkers mind is the data safety. Cyber security will surely grab more limelight and thinkers attention in the days to come. Since, these days, many firms outsource their full work to a consultant, so definitely the former expect a higher level of data security from them.
Even a slight data breach could result in a massive loss to the firm while immense profit to rival. Firms need to take the responsibility of them and work towards offering a 128-bit fully encrypted secured server for online office communication.
3. Intelligent Automation and Robotic Process Automation
It is known as RPA and becoming more popular with each passing year. The automation process ensures enhanced productivity and efficiency at lower cost while retaining maximum quality in the process. These days, several firms use robots and other computer programs to replace humans for repeating work profile.
For example; instead of call center executive, now IVR itself provides basic information to the customers while connecting them to the real call center executive as per his requirements.
Artificial Intelligence (AI) and robotics will rule the roost in the world of technology and outsourcing services. It will lead to supplier margin expansion, large savings for great buyers, and enhance revenue generation capacity with reduced liability towards staff as well.
4. Wider Use of Cloud Technology
The cloud technology is likely to become the path bearer for the outsourcing. With more and more businesses are moving to cloud this year, their working efficiency will improve more. Also, it will give further impetus to these firms to deliver innovative products and services to customers depending on the latest market trends.
Overall, outsourcing is a winsome strategy for a firm. According to Whitelane Study, 89% of clients who have outsourced their works claimed to be satisfied by the services provided by the outsourced agents.
5. Higher Efficiency and Competence
The outsourcing industry is now inching towards automating process utilizing the latest software and other computer programs in the process. These technical tools will simplify the tech support for IoT enabled services and also resolve consumers’ problems in no time.
6. Industrial insecurity adding Woes
With several countries are likely to witness a change in their political leadership, outsourcing seems to be an apt way to stay safe from the pendulum of political whims and fancies. Increase in corporate taxation, more funds towards employee welfare and high salaries adversely affect a company.
Outsourcing provides a caution to such firms by undertaking its accounting and other important office works. It reduces the firm’s overall administrative and operation cost while enhancing the company’s return on investment.
7. Rise in Freelance and Independent Outsourcing Services
Now, several firms work from remote locations while rendering outsourcing services to clients. In the upcoming year, there will be a rise in freelance and independent outsourcing agency that will pertain to company’s general works through remote operation. However, it will be larger depending on the internet, online algorithm and other advanced tools.
8. Hi-Tech Call Centers
Another interesting development is the imminent downfall of call centers. As more and more firms are now hiring intelligent assistants and chat bots to resolve customers’ queries. However, contact centers will not go down all at once.
In fact, a newer type of call centers providing IT-enabled services to its clients on time with round the clock availability online will rule the roost. Using chatbots and virtual agents is always beneficial as they could easily tackle a lot of customers at the same time without disconnecting anyone else.
9. Digital Transformation of Traditional Communication
Technology has changed the way of traditional communication effectively. Companies are adopting online services, social media marketing, email promotion, and mobile marketing greatly.
Several companies are now leveraging printing service strategies in initiatives that aim at providing best services to customers.
On an average, the statistics revealed by Hubspot clearly mentioned that 68% of the companies would now outsource their SEO services for improved visibility and lead generation capacity of the firm along with website development and mouth publicity. Better the quality of these things, higher will be the firm’s visibility.
10. Outsourcing will be a Success Key for companies
The 2016 global outsourcing survey by Deloitte revealed that clients now expect enhanced and specialized services from outsourced consultants. More and more business catering to different fields are now opting for outsourcing to offer improved and far better value-added services to clients.
11. Rise in Virtual Employment
The latest augment in technology, and software has now made it possible for the staffs and employees to work as employees with a firm. The availability of project management tools and other efficacious programming has made the process of real-time monitoring quite simple and easy. The upcoming outsourcing trends 2018 will certainly see a steep rise in virtual agents.
No doubt, the prospect of offshore outsourcing is very bright in the coming days. Apart from enhancing the firm’s overall efficiency, outsourcing also reduces the operational expenditures of recurring nature, saves the company owner from labour troubles and also augments productivity.