Business Process Outsourcing: Industry Trends to Look Out for in 2019
Balancing out business priorities while keeping abreast with industry trends is an ongoing struggle for business process outsourcing companies worldwide. The rise of new and advanced technologies, rapid innovation, and the growing competitiveness are the constant driving forces behind the global success and expansion of the business process outsourcing industry. The global business process outsourcing companies are expected to leverage the use of advanced technologies to skillfully address market challenges, manage talent shortages, and enhance their portfolio of services.
This makes it clear that technologies like AI and RPA are here to stay, but is 2018 the year when firms across industries jump onto the business processing outsourcing bandwagon? Are business organizations going to abandon the outsourcing of such services to make them in-house? Here are a few trends to watch out for in 20119:
- Invest conventionally in technology: In today’s technologically advanced world it is apparent that leading business process outsourcing companies are scrambling to figure out what investments will bring them solid results in the future. Technologies such as Automated Virtual Assistants and Internet of Things have taken the industry by storm and is expected to be a major factor influencing the future pricing decisions.
- Improve the customer experience: Customers are the lifeline of businesses, which makes it essential to improve their experience to not only attract new customers but also retain the existing clientele.
- Align business goals strategically: It is a well-known fact that pinching today’ pennies can hurt tomorrow’ returns. As a result, a clear vision of your business goals backed by appropriate investments paves the way to achieve increased growth rates.
The client is a leading third-party business process outsourcing services provider in India with proven expertise in governing and managing business process based on quantifiable performance metrics.
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In an attempt to do more for their customers the business outsourcing company wanted to leverage customer intelligence. To do so the client was looking at implementing a customer intelligence platform for informed decision making on factors such as location, scope, and outreach of their services.
The main aim of this engagement was to deliver high-quality customer experiences throughout their service channels. Customization of the business process outsourcing firm’s customer intelligence platform helped them address several issues related to their service efficacy. This customer intelligence engagement followed a bespoke approach to develop a customer intelligence platform that offers a single view of all the customer data. The experts at Infiniti Research conducted an in-depth analysis of the business process outsourcing industry to achieve the desired customer service improvements.
The custom-made solutions and recommendations helped the business process outsourcing company to identify vulnerable client segments and devise strategies to increase customer engagement. The customer intelligence platform offered a single view of customer data which in turn helped the business process outsourcing company to design and offer better services to their clients.
This customer intelligence engagement helped the business process outsourcing company to uncovered insights on:
- Shared customer needs
- Increasing customer satisfaction
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