Businesses have never faced such complex political, economic, social and digital forces as they do today. For example:
Business Process Outsourcing (BPO)
Rick Sturge is EVP Business Development at Firstsource Solutions, with over two decades' experience in outsourcing and business transformation. We turned to Rick for the latest in our Life Lessons series - and received lessons aplenty...
What has been the single most significant development to impact your profession or area of business during your career, and why?
Less than two per cent of the global outsourcing market is affected by robotic process automation (RPA). And yet, some estimates show that the growth of RPA use may approach 90 per cent year-over-year, according to an interview with Everest Group VP Sarah Burnett at a recent seminar organised by Accenture.
The ever-increasing pressures from budget cuts and higher demand for services means local authorities are continuously looking at ways of delivering their services more efficiently and cost-effectively while also seeking to ensure continued high levels of service.
Trust is at the root of all successful outsourcing partnerships. Without trust between all parties, commercial relationships can break down. And as I’m sure you know it’s far more expensive to get new business in the door or find new partners to work with; than it is to keep the status quo.
So how can outsourcers build and maintain trust? I may be biased but I firmly believe that the availability of technology that provides round the clock oversight is the answer.
Recent stories by, amongst others, the BBC detailing large, well-organised and presumably very profitable scamming organisations targeting UK TalkTalk customers have hardly helped the already-lowly reputation of offshore contact centres - but may unfortunately be only the tip of a perilous iceberg.
In today’s business climate, it is innovation levels coupled with speed to market that will determine a company’s success. This was one of the reasons why, in 2016, we saw more interest in trends around optimising business processes – from automation to the as-a-service ecosystem. Businesses are looking to make the most not just of their employed staff, but also of their technology and the pure raw data that they hold.
Robert Kurzban, Ph.D., an Associate Professor at the University of Pennsylvania in the Psychology Department, is a proponent of evolutionary psychology as a key to understanding human behaviour in all of its complexity.
This year will see the BPO industry transform itself in a multitude of ways, meaning that businesses must adapt or face the prospect of falling behind their competitors. With a month of 2017 already behind us, what can we expect to come to the sector over the course of the rest of the year – and beyond - in terms of new services and advances in the technology at the heart of the industry?