In 2017, the global outsourcing market was valued at $88.9 billion and for this year’s estimate; the value is seen to be consistent. As technology progresses and 2018 holds a number of tech predictions, the involvement of technology and its chain reaction will be felt by the Philippines’ IT & BPO marketplace when it comes to outsourcing, offshoring and shared services.
- More Offshore Ventures
For 2018, expect more global businesses to venture into offshoring where offshoot operations will be established alongside an experienced and capable IT or BPO partner. While outsourcing roles and functions for a division or department is to remain buoyant under a shared service setup, offshoring allows businesses to work even more closely on setting the framework of operations. This comes at a time when the increasing need for a very personalized approach is needed when it comes to customer service and cloud infrastructures are flexible enough for cross-operations that support agile business processes in an offshore operation centre towards the global headquarters.
- Increase in Tech Partnerships
Companies turn to outsourcing when there is a shortage of technically sound professionals to intake into essential roles when it comes to business and customer support. As technology evolves at a faster rate and new platforms emerge, companies can facilitate their skilled intake and overall IT capabilities by outsourcing the roles. Co-managed business processes such as technical support and solutions engineering are expected to increase due to the rapid intake of technology by end-users.
- Emerging Technologies Will Grow
The need for businesses to keep in pace and adapt to disruptive technologies such as blockchain, artificial intelligence and the Internet of Things (IoT) will further the growth of tech partnerships as a way for businesses to quickly build and operate on these new tech disruptions. IT & BPO Solutions providers who are able to build and successfully run a pilot program for these tech will become early innovators.
- Increase Focus on Value for Shared Service
When it comes to outsourcing, cost reduction is still one of the primary factors why businesses choose to outsource. With that premise, the marketplace for outsourcing and BPO providers will further diversify based on their value proposition model as cost reduction becomes a staple.
- IT & Technical Skills Still in Demand
Technology and its unfolding platforms, niches and distinct economies will further diversify. In turn, the need for specific IT skills will rise sharply which maybe, more than what the current market can supply as a shortage for IT Skills within the local areas will also be a hindrance for tech adoption. For IT-BPM and BPO companies who are able to shore up their capabilities by intaking more skilled IT, the opportunities within the IT market can generate more business interests.
- Soft Skills Also In Demand
Technology has allowed an open-ended yet, very flexible work environment within the business operations. It enabled outsourced teams to work closely with headquarters while also enabling intake of virtual professionals into the vertical structure. In managing and collaborating within the modern working environment, the need for soft skills such as communications, responsiveness and process management will be essential for not only IT but also across industries.
Ezy Outsourcing Hub is your trusted offshore partner when it comes to the establishment of an offshore operations office in Manila, Philippines. We help companies’ secure legal permit, procure an office and help set up the offshore operations. To get started, call 02-6571872 or email firstname.lastname@example.org