Outsourcing can potentially add value, cut costs, support business growth and enhance customer-business relationships. An impressive list of attributes that sometimes mask the reality that selecting the wrong outsourcing partner can result in the business experiencing few of the benefits, with some added new challenges.
The Industrial Development Corporation has indicated that globally Business Process Outsourcing (BPO) is in the midst of a growth surge with an anticipated $202.6-billion by the end of 2016 and a five-year compound annual growth rate of 5.3%.
The Deloitte Global Outsourcing Survey 2016 found that outsourcing will continue to grow, providing customers with innovative services and solutions that help them cut costs while remaining competitive and on track. However, not all outsourcing is created equal and should be undertaken with a measure of consideration and a dollop of common sense.
Business process outsourcing (BPO) has evolved into a thriving and enormously successful market, accelerating in growth as it constantly reinvents itself and adapts to the changing paces of digital, country and economy.