Set to reach a revenue of $0.35 trillion in 2023 and potentially hitting a market size of $0.45 trillion by 2027 with a CAGR of 6.48 percent, Business Process Outsourcing (BPO) has become a key element in modern business strategies.
Utilizing technology and outsourcing services effectively can have a transformative influence on an organization’s day-to-day operations in the contemporary office environment. These two approaches provide previously unimaginable solutions for streamlining tasks and maximizing the use of resources as businesses search for new methods to maximize efficiency and performance. Whether you’re seeking to upgrade existing functions or develop entirely new ones, understanding their synergistic effects is essential for remaining competitive in a business environment that is constantly evolving. Combining technological advancements with outsourcing opportunities can revolutionize your approach to providing core office services.
How Revolutionary BPOs Are Merging Technology With Outsourcing
By integrating advanced technologies such as artificial intelligence, robotic process automation, and data analytics, leading BPOs are enhancing service offerings and streamlining processes. This fusion of technology and outsourcing enables businesses to access cost-effective, scalable, and high-quality services, allowing them to focus on core competencies and strategic growth.
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Human-Assisted Robotic Process Automation (RPA) in Your Processes and Services
Robotic Process Automation (RPA) has been a game-changer in the BPO industry, automating repetitive tasks and significantly reducing manual effort. RPA utilizes software robots (digital workers) that can interact with business applications and systems in the same way humans do, thereby streamlining processes and improving efficiency.
Some of the processes that RPAs can effectively perform include:
- Data migration/entry and forms processing
- Processing Payroll
- Call Centre Operations
- Website Scraping
- Processing Orders on eCommerce Sites
- Claims administration
- Credit Card Applications
- Compliance Reporting
However, there are instances where human intervention is still required, such as handling exceptions or making subjective decisions. In such cases, BPOs offer a hybrid system combining RPA with human assistance, allowing businesses to leverage the speed and efficiency of automation while still benefiting from human expertise. This is achieved through the integration of RPA platforms with task management and collaboration tools, enabling seamless handovers between software robots and human operators.
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AI-powered Customer Support With Live Agent Escalation
In a hybrid system, AI-powered chatbots handle initial customer interactions using advanced natural language processing (NLP) and machine learning algorithms, enabling them to understand and respond to customer queries effectively. When the chatbot encounters a query it cannot resolve, or that requires human intervention, the conversation is seamlessly escalated to a human agent. This handover is facilitated through advanced CRM integrations and supports ticketing systems, ensuring a smooth transition and maintaining customer satisfaction.
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Hybrid Cloud and On-premise Infrastructure
As businesses continue to migrate their operations to the cloud, many BPO service providers have started offering hybrid infrastructure solutions that combine the flexibility and scalability of cloud-based services with the security and control of on-premise systems.
In a hybrid infrastructure setup, businesses can choose which applications and data to keep on-premise and which to migrate to the cloud. This combination allows businesses to optimize their IT resources, enhance security, and ensure compliance with industry regulations such as PCI DSS. BPOs achieve this by implementing cutting-edge cloud management platforms and utilizing advanced virtualization technologies, enabling seamless integration and orchestration between on-premise and cloud environments.
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Staff Augmentation Model
The staff augmentation model combines the benefits of in-house and remote employees, offering businesses a flexible and scalable solution for their staffing needs. BPOs providing blended workforce solutions help businesses manage their resources efficiently by employing a mix of on-site and remote employees.
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AI-enhanced Human Decision-Making
In many industries, decision-making can be complex and requires expert judgment. BPOs have started leveraging business intelligence (BI) to augment human decision-making, offering a hybrid approach that combines the strengths of both humans and machines.
AI-enhanced human decision-making involves using advanced machine learning algorithms and data analytics to provide insights and recommendations that support human experts in making informed decisions. These AI-powered BI tools analyze vast amounts of data and identify patterns, trends, and correlations that may not be immediately apparent to human analysts.
How BPOs Are Leveraging the PPTS Framework to Transform and Boost Outsourced Services
A strong and up-to-date People, Process, Technology, and Security (PPTS) framework at leading BPOs plays a pivotal role in transforming and boosting clients’ outsourced services. By focusing on these four crucial aspects, BPO providers can deliver exceptional results, ensuring that the outsourced services contribute positively to the overall growth and success of the client’s business.
People: BPO providers prioritize hiring, training, and retaining highly skilled talent to ensure top-quality service delivery. They create a diverse workforce, drawing from global talent pools to match the right expertise with specific client needs. Leading BPO providers emphasize employee engagement, continuous learning, and development programs to keep their workforce motivated, upskilled, and aligned with the client’s objectives.
Process: Streamlined processes form the backbone of efficient outsourced services. BPO providers develop and implement robust process frameworks to enhance workflows and reduce the chances of errors. By relying on industry best practices, continuous process improvement, and performance metrics, they optimize the way tasks are completed. Leading BPOs, for example, use the Six Sigma methodology and ISO standards to maintain high-quality processes.
Technology: Technology plays an essential role in driving efficiency and innovation in outsourced services. BPO providers leverage cutting-edge technology to automate repetitive tasks, improve efficiency, and reduce costs. By staying abreast of the latest technological advancements, BPO providers offer innovative solutions that drive value for their clients. They employ technologies like Robotic Process Automation (RPA), AI-powered customer support, hybrid cloud infrastructure, and advanced data analytics tools to enhance their service offerings.
Security: Ensuring the security of client’s sensitive data is a top priority for leading BPO providers. They implement robust security measures to protect client data from unauthorized access, theft, and other potential risks. Excellent BPOs adhere to global security standards like HIPAA, GDPR, ISO 9000, and ISO 27001, and use end-to-end encryption and multi-factor authentication to safeguard client data. By maintaining a strong security posture, BPO providers build trust and confidence in their outsourced services.
The Future of Office Services
From human-assisted RPA to AI-enhanced decision-making, hybrid system combinations are revolutionizing industries and changing the way we work. Coupled with effective outsourcing, office services can be flexible, scalable, and more profitable than ever. Implementing each one of these technologies takes time, so find the ones that fit best with your strategies and existing strengths to better accelerate your growth and stabilize your performance.
Author Bio:
Mike Gunion, VP for Sales & Marketing at Infinit-O
Passionate, high-energy senior executive business leader, entrepreneur, cross-functional team leader, motivator & innovator. Mike is focused on results, building winning processes, teams, and execution plans. Broad-based skills built and applied across Clean Tech, Medical Equipment, Telecommunications, Information Technology, IoT, Financial Services, Manufacturing, and HVAC industries.
Successful in enterprises large and small, building and growing businesses from VC-backed start-up ventures to running P&Ls in Fortune 500 firms with hundreds of employees. Deep background and interest in developing and scaling technology-based product and service businesses – from strategy development through operational and financial planning. Particular interest in AI and IoT.
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