Business Process Outsourcing (BPO) brings abundant benefits that will propel the business into a success. It offers productivity improvement, cost reduction, and improved human resource. But these are just the tip of the iceberg. With all the benefits of outsourcing, there’s no wonder that it’s growing globally. Its market is actually expected to reach US$ 344.2 billion by 2026.
Acumen Research and Consulting released a report revealing that the main factor in the said market forecast is the demand to decrease operational costs. Many businesses have chosen to outsource tasks outside core responsibilities; hence, allowing them to focus more on growing the business.
On the other hand, businesses try outsourcing as a solution to their back-office needs. Several back-office tasks are time-consuming, which is steering away focus that should be on pressing matters.
In the coming years, additional benefits of outsourcing, which are flexibility, workload management, and augmented efficiency, will further contribute to the growth of the market. The report also mentioned that the increase of call and customer service centers in North America and the Asia Pacific and emerging technologies will also affect the market.
North America’s BPO market is forecasted to lead the global market all thanks to many market players and increase the demand for better business services. On the other hand, Europe accounts for about 27% in the business process outsourcing market in 2018 all thanks to flexibility and customization of service.
Meanwhile, affordability and low-cost labor will boost Asia Pacific’s (BPO) market. Aside from low costs, The Philippines offers skilled talents fluent in English. These professionals have an affinity with Western culture, making it easier to converse with other people as well as their fluent accent makes them perfect all around.
Get more than what you pay for overhead costs. Ezy Outsourcing Hub offers a convenient way to access outsourcing solutions in the Philippines. Through us, you’ll be able to tap into a pool of talents and secure serviced offices in strategic locations in one go. For more information, call (PH) +63 02-6571872 / (AU) +61 419 200 663 or email contact@ezyoutsourcinghub.com.
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