It was back then that outsourcing has been perceived as an emerging strategy — however, only a few believed in it. Now, outsourcing is everyone. Different countries outsource their operations to save a lot on operational costs while having an access to a pool of skilled workers. As outsourcing expanded, a lot of events have caused impact to its existence. One example is when Donald Trump was elected as President of the United States. Since he wanted to make “America Great Again”, he pulled out the Trans-Pacific Partnership (TPP) agreement, greatly affecting US businesses outside the country. And for the trends this year, Anna Frazzeto has summed up the trends in global outsourcing in her article posted at Forbes.
Global Trend #1: Voluntary Exit
Since the decision of Trump pulling out TPP, US businesses that use resources from other countries have decided to repatriate. These companies have pulled out their tech outsourcing, thus impacting the employment on affected countries. With this, big outsourcing companies have placed their eyes on the United States, establishing offices there and hiring employees from remote areas in the country. New outsourcing models are now emerging, and these models cater to employees that can be locally sourced. Focusing more on the remote areas of the United States, this where outsourcing companies are hoping to find locally hired talents that are affordable and perfect for the cost-efficient advantage of outsourcing.
Global Trend #2: Always become better
In today’s digital era, there are a lot of emerging technologies that are becoming disruptors, perfectly dominating what traditional businesses are used to. Artificial intelligence (AI) potential to machine learning, blockchain and cryptocurrency, and cybersecurity, to name a few, have become the essentials needed by outsourcing companies to become better and attract more clients. Teams must have the knowledge of these emerging technologies in order to become competitive and stay in the cutthroat competition.
Global Trend #3: Client Referrals are Essential
Before, the procurement team is responsible for getting the “yes” from clients, now client referrals are the key to get the contract signed. Client referrals are now gaining the spotlight and can now sway a prospect’s decision of whether signing or not with the outsourcing company. Since technology is evolving every day, businesses are looking for a partner who has insight and deep understanding of the businesses; hence, having client referrals means they have found the right provider for them.
Even though these trends have an unclear future whether it will last long to will eventually disappear within a month’s time, these are essential for outsourcing companies who want to excel in their field, especially if businesses are looking in outsourcing in the Philippines. Ezy Outsourcing Hub has been in the industry for quite some time, mastering the emerging technologies and how it could shape a future of a business. For interested businesses, call 02-6571872 / +61 419 200 663 and email firstname.lastname@example.org.