Technology is changing the Business Process Outsourcing (BPO) industry completely. With the arrival of cloud storage, a decade ago, collaboration became very easy across the world. Distance is not a barrier at all anymore. This has made it very easy for organizations to outsource their back-office processes. They identify and contract service providers in countries that have a lower cost of living. The pandemic took this up another notch. Now to work on virtual teams is quite normal, even for small businesses.

BPO providers adopt Automation the fastest because they benefit from economies of scale. Hence the BPO providers reduce the cost of their operation by implementing AI (Artificial Intelligence) and RPA (Robotic Process Automation). In this way they are far more efficient. A lot of the tasks are automated.

This way, the BPO industry should become the most advanced. They can make the best use of the automation capabilities in the market. They have people who can create AI driven chatbots, put machine learning algorithms and predictive analytics to use. The BPO distributes the cost of automation across the various clients. Therefore the BPOs are often the first one to experiment with the new technology in the market.

Fresh data is essential in decision making. As the pace of the market is accelerating, data that is even a week old can be stale. Manual report takes up time, this impairs decision making. Very often the organization that implements systems desires data-driven decision making but often misses the opportunity. It is important not to get entangled in the process and lose sight of the final desired outcome – better decisions.

The trend is therefore to outsource the back-end processes to a Business Process Outsourcing company. In this way the hiring company focuses on what they do the best. And they still reap the benefits of streamlined processes to benefit from data-driven decisions.

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