According to a study done for the Australian Business Process and Outsourcing Association, most business functions sent out by Australian companies are related to printing/document management, propelling the country’s business process outsourcing (BPO) sector.
Forty-four percent of the 216 companies that participated in the study stated that they are currently outsourcing at least one business process. Print and document management (PDM) is the top business process being outsourced by Australian firms (18%). This was followed by human resource (HR) process at 15%, which is predicted to grow 23 percent in a year or so, and finance and accounting (F&A) at 13%.
The report also states that BPO transactions from large Australian companies employing 1,000 to 5,000 workers will definitely increase. This group accounts for one-third of the survey participants.
Russell Ives, Director of Global Process Services at IBM Growth Markets, said the report clearly shows that Australia’s BPO industry has indeed evolved and diversified over the past 10 years. Outsourcing has become more than just a tool to cut costs - it has enabled companies to improve business strategies.
Ives also noted that business executives are looking into the benefits of outsourcing which include improvement in financial flexibility, better feedback from customers, more opportunities, tapping new markets, and maximizing of prospects.
Aside from the traditional business processes in outsourcing, the adoption of the cloud is now increasing as 35 percent of the companies are considering the use of the cloud. Furthermore, 15 percent have already integrated cloud computing as an outsourcing strategy.