With a market value of USD 245.9 billion in 2021, Business Process Outsourcing (BPO) is a growing sector of the economy. And from 2022 to 2030, it is anticipated to rise at a compound annual growth rate also known as CAGR of 9.1%.
Surprised? Well, to some extent, it is obvious. When your company can effectively reduce its cost and budget by outsourcing the work while also maintaining the top-notch quality of services, then why would you go any other way right?
In response to these needs along with maintaining the importance of good customer service, BPO patterns have drastically changed over the past few years.
How? Well, numerous trends, including automation, data security, strategic collaborations, cloud computing, and other technological breakthroughs, have evolved to set the highest standards.
However, the question that has arisen is whether emerging trends in the BPO industry are beneficial in the long run. Obviously, yes, because to stand out in the real-time market penetration, upgrading with a trendy culture is a wise choice.
What are the latest BPO industry trends that you need to know?
The BPO industry is positioned to have positive and broad-reaching effects as more businesses hire outside service providers. But to feed your curiosity below are listed the latest BPO Industry trends that you must watch out for to drive value and growth in your business:
Integrating Artificial Intelligence
The global adoption of artificial intelligence is increasing quickly, but the BPO sector’s implications cannot be overstated. This aspiration of a digital transformation has been helped by AI technologies, which have enhanced numerous computational jobs and simplified client engagement.
For instance, machine learning has fundamentally changed the outcomes and methods of customer support. They let BPO firms identify customer service issues far more quickly than they could with only regular human interactions.
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The speed of data capture in documentation has also been accelerated by artificial intelligence. A BPO provider like AM2PM Support can precisely track claims, invoices, client information, applications, etc. since the danger of making mistakes is reduced.
Above this, BPO service providers are using AI to gather data when it comes to optimizing your client behavior, and their preferences, and modify customer service strategies based on that. All of this sums up that AI has the potential to affect the purchasing choices of your brands’ consumers and draw a new roadmap for accelerating sales.
Presenting omnichannel customer services
Undisputedly, your brands’ consumers in the twenty-first century leave a larger digital footprint when they love to keep watch on what’s new in your products and services. The BPO service providers prioritize the facts and the reason why the omnichannel customer service is included in the latest BPO industry trends.
For example, you’re selling your products mainly through influencer marketing, and for that, you promote the latest offers with YouTubers. But when your target audience gets to know it, they have a walkthrough on other channels too, be it your website or any other social media platforms to check your brand’s authenticity. This is the reason BPO companies accommodate the choice of customer service management through omnichannel support.
They achieve modes of omnichannel contact for your customers, including voice messaging, social media, live chat, emails, phone calls, text messages, and more. This makes it possible for you to showcase your care and handle customer complaints, to robust customer relationships, and gain their loyalty.
Utilizing cloud-based model
To stay on the BPO industry trend, a BPO service provider incorporates a cloud-based model in their existing service. Do you know why? No matter if you’re a solopreneur, an enterprise, or a big giant, the expansion of your business is based on your customer’s satisfaction level and to reach that height you need data extensively.
Now, when you outsource a BPO service provider, their pro team will quickly collect data to understand your customer behavior, their psychology for buying intention, or to build a buyer persona. Additionally, to ease your customer journey and increase their lifetime value, BPO services will prioritize personalized customer service based on existing data.
The reason why BPO industries integrate cloud-based models when it comes to holding the sea of data, making it accessible for entire team members, and maintaining privacy guidelines to gain loyalty.
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Leveraging automation
Automation approaches are now being added to the BPO industry trends to maintain the reality of digital transformation. There is no doubt in saying that the fastest results come from automation, especially when working with large amounts of data.
Automation can take care of tasks like error checks, data extraction, data analysis, and similar ones for a provider of BPO trends. BPO services are considerably improved through automation to enhance operations be it customer service outsourcing, call center outsourcing, or anything else.
It lessens administrative work and other monotonous activities such as manual data inputs, sending emails one-by-one, and more so that customer support agents can only concentrate on their key abilities.
Let’s suppose, your outsourced BPO service provider can automate the email marketing outreach while integrating a sales automation tool. Also, they can optimize the email open rate, bounce route, or click-through rate when they set triggers based on your customers’ actions.
Now, this will not only help your outsourced BPO executive to focus on fine-tuning their sales pitches but also they can prioritize to build a worthwhile sales and marketing strategy to generate more revenue.
Embracing remote work culture
Although the highest adoption of remote working culture by BPO service providers was at its peak when the COVID-19 pandemic was at its worst, it’s not new anymore. As a result, the teams are able to continue 24/7 customer service operations during busy times and even any natural calamities.
Initially, this change would have been difficult because outsourcing services were often performed on-site. However, several BPO companies reported higher staff morale, performance, and overall cheaper operating expenses.
From there BPO services understand that having employees on-site does not always equate to higher productivity. Additionally, these same companies save even more money by forgoing the expense of a physical office location.
This is why the benefits of remote work continue to be praised by employees on a universal level as the recent trends in BPO. Employees have more freedom and autonomy, and businesses that provide business process outsourcing services will undoubtedly see an increase in hiring and retention rates.
When it comes to reaching your customer satisfaction level, the remote BPO workers never lag behind to impress them, be it over telephonic conversations or any other communication.
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Reducing operational cost
Nowadays being economical is counted as one of the crucial advantages of BPO outsourcing, as you’re a smart business pro who’ll definitely give a damn about every possibility of saving big pockets.
For instance, if you are a software company, you have several tasks, including the development of your products by adding valuable key features to beat your competitors. In addition to this, you also need to concentrate on marketing and sales to generate revenue.
To streamline this process and reduce the challenges associated with recruiting and training new talent for marketing, you can opt to simplify and outsource a highly skilled and experienced team of experts. Consequently, your focus will shift towards identifying gaps and adding value to your products.
The BPO industries understand this particular area of your choice to mitigate operational costs without compromising quality and the reason why they also prioritize it. Now, you may understand why it is included as one of the BPO industry trends.
Fostering reliable partnerships
As you’re investing your hard-earned money in outsourcing BPO to streamline smart work processes in many ways, it is understandable that you’ll care for a reliable relationship with an outsourcing partner.
Whether your outsourcing partner is an insurance BPO service, a healthcare BPO service, a call center BPO, or anyone else, your demand is taken care of by them.
To cultivate a worthy relationship as one of the latest BPO industry trends, BPO service providers now go for more open relationships like never before. They now clearly discuss the clause of outsourcing, dig deeper into your goals, share data within the time frame, and provide value to your customers.
It simply means the transparency maintained by the BPO executives in every aspect. After all, it’ll work as a win-win situation for both of you. If your outsourced partner can reach your desired goals, never let your single customer be dissatisfied, it’ll work for them when it comes to word-of-mouth marketing or providing referrals.
Leverage benefits of the latest BPO industry trends with AM2PM Support
To support tech-focused businesses, boost data consumption and access globally, and support developing technologies like software-as-a-service (SaaS), it is anticipated that demand for digital services and emerging technologies will certainly increase.
These have made outsourcing BPO services constantly appealing, whether for Fortune 500 companies or small to medium-sized businesses.
And if your organization is looking for a premium level reliable outsourcing partner, then you can count on AM2PM Support BPO.
Embrace AM2PM Support, one of the top-notch global BPO service providers, and experience the ultimate customer satisfaction to earn their loyalty.
Why? We maintain 100% transparency on the ongoing work process, provide you with valuable and exact data, and upgrade us with the latest technologies to connect your customers seamlessly. Most importantly, we never lose a chance to make your customers feel valued which boosts your authenticity and credibility for your brand.
No more wasting time, just book a call with AM2PM Support with a single click and get in touch to thrive in the competition.
