Despite the impact of the global recession that companies are still facing today, this new year brings forth a new wave of anticipation for companies willing to outsource and those that expect a higher BPO demand.
A lot of countries are joining the BPO bandwagon, and buyers opt to outsource for reasons beyond cost savings. At the onset of 2010, it is interesting to determine and predict the different factors that may set the trends in the world of outsourcing for this year. In an industry such as outsourcing which is constantly evolving, companies can certainly look forward to a year with new names in the list of outsourcing locations, advanced technological tools, and an increase in social awareness and responsibility, as predicted by the International Association of Outsourcing Professionals (IAOP).
Outsourcing trends in 2010
Here's a list of the top 10 outsourcing trends that companies can watch out for this year:
- Delayed deals get the green light - Last year, the global economic downturn had compelled many companies to halt outsourcing deals. IAOP predicts that these will push through this year.
- Desperately seeking value - In an attempt to recover from the financial crisis, it is predicted that outsourcing players will aim for better relationships, innovation, and flexibility in order to improve total business value.
- Flexibility to get out of contracts - Companies will seek shorter-term contracts versus long-term deals.
- Uncertainty leads to consolidation - Service providers all over the world will go for consolidation or acquisitions to keep the business going in these uncertain times.
- Outsourcing hiring return - IAOP predicts an increase in the number of new graduates who will enter the BPO workforce.
- New outsourcing destinations emerge - What used to be an industry with the usual locations such as India, the Philippines, and China will now see the emergence of other outsourcing hubs such as Central and South America.
- New destinations differentiate themselves - In relation to no. 6, there will be stiff competition in the outsourcing industry. That is why players must innovate and think of ways to set them apart.
- Tooling up with technology - Cloud computing is one of the technological advances to watch out for this year.
- Social responsibility - It is predicted that outsourcing companies will strive to be socially responsible and will evaluate the effects of outsourcing to people and the environment.
- Political shifts - Service providers and buyers will have to comply with government regulations in an effort to build better relationships.
New year, new things to look forward to. It is with high hopes that this year will be more fruitful and interesting for outsourcing companies all over the world.