There are various reasons why businesses opt to outsource in the dynamic landscape of their respective industries.
According to Deloitte’s Global Outsourcing Survey in 2016, the most common reason companies outsource is because they see it as a cost-cutting tool. Other reasons for such move include improving service quality, managing the business environment, and gaining access to intellectual capital.
By bringing some of your functions to an outsourced team, you’ll be able to focus your efforts on your core tasks—allowing you to enhance the overall process and function of your business. In terms of industry, IT-BPO leads the way because of the need in the current times.
In the age of social media, mobile, analytics, and technology, the information and communication industry needs the extra boost in manpower to be a business that listens to their customer’s wants and needs.
Moreover, outsourcing is a popular choice for various industries because it obviously brings in the revenue. In 2015, the global market value of outsourcing is at 88.9 billion—concretely doubling since its early days in 2000. However, the global market value experienced a tiny dip in 2016.
Outsourcing is also gearing up for the future. Topics like automation are being incorporated in the business trend to slowly adapt to this innovation. However, automation should still be observed that’s why new jobs that require human skills are being created.
Surely, outsourcing will continue to grow in the years to come. It still has expansions awaiting to be discovered soon by these industries. This is a guaranteed situation because of the current highly competitive outsourcing global market. New countries such as the Philippines, Canada, Chile, Brazil, and Israel also emerge as top outsourcing destinations.
Here are the other telling numbers and figures about outsourcing you should know from this infographic by Microsourcing.