What's Next in BPO for Finance?
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Enterprises are today questioning traditional Business Process Outsourcing models, as the original driver for outsourcing – cost – is suffering an erosion of its margins, and rapid developments in intelligent/robotic automation call into question the very essence of FTE-based transactions.
Countries that used to offer significant labor arbitrage have suffered wage escalations as their locations have become sought after – with a side effect being challenging attrition rates as competitors lure trained employees away, and the cost of this knowledge drain, plus re-recruiting and re-training, is impacting operations.
Innovation, new technologies and value-add are the driving forces behind the global BPO industry. Against a backdrop of service process automation and data analytics taking over, here are the top 7 BPO trends as we move into the new year.