By Ivan, Solution Sales Specialist at Flat Rock
Many large US and UK based companies outsource plenty of their processes. We’ve all seen what has happened recently in the US with the elections and in the UK with Brexit... So, how is the outsourcing sector going to develop?
It seems that outsourcing may face a lot of challenges. Many US and UK based companies may have to begin looking for domestic suppliers or begin nearshoring, instead of outsourcing to distant locations. Countries in Eastern Europe, South America, as well as Russia may soon become the top outsourcing destinations for US and European businesses, instead of India and China. Businesses in Europe have already started to nearshore, while South American outsourcing solutions have also become popular in the US because of the similar time zones. In the outsourcing market, there have also been multiple company mergers recently, which may continue, creating just a few, very large providers.
Outsourcing providers may need to create and offer more comprehensive solutions. Many large companies have started using software systems for their business processes, so being able to provide a wide range of solutions that can work alongside information systems or be able to create those systems can greatly boost corporations. Some experts claim that many BPO tasks may soon be replaced by AI as well.
Security has been and will probably continue to be one of the top priorities of most corporations in the UK and US. Countries have become more and more interested in securing all activities related to the usage of user data, so companies that can provide security software or software that is made to security specifications can become very important to large US and UK businesses. Many corporations that offer cloud services will also have to work towards expanding both their array of services and expand the capabilities of their solutions as well. Since there is plenty of data available now that shows how much a specific service improves the work processes of a company, outsourcing providers can more easily showcase their abilities further.
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