As A BPO Consultancy What to Expect in 2019 and Beyond?

The future of BPO industry under President Trump’s ‘America first’ Policy

Following the 2016 US Presidential election, BPO Consultancy in India has gone through a major setback. With bated breath,the giants of BPO industry watched the direct impact of the changed administration on trade, tax policies, visas, agreements and regulations.

Furthermore, President Trump’s primary focus on “Buy American, Hire American” agenda has drowns dark cloud of uncertainty for the future of outsourcing.

To the matter of fact, this “America First” policy has been an indicator of return of anti-outsourcing bills in Congress, despite the failed attempts of the same under the Obama administration.

No doubt there was a slowdown in the market, but now market is ready to revamp and do away all the negative impulses with emergence of automation.

BPO industry in India expecting bright as Sun Future in 2019 and beyond

With approximate 1.1 million people working and 500 companies offering outsourcing services, BPO industry has been a major GDP contributor for India. As per National Association of Software and Services Companies (NASSCOM), the IT and BPO trade body in India, the sector contributes 7.7 percent to India’s GDP while offering outsourcing services to over 66 countries.

2019 Trends and challenges for BPO industry

RPA

Robotic Process Automation will play a major role in defining the future of BPO industry in 2019. With major players of industry keenly taking interest in how can they automate more using technology; the automation could come up as a solution for saturation too. Herein, the saturation is not limited to lack of skilled labor or increased wages in the segment. However, no opportunity for growth is a better implication of the word in this matter.

Shift of Labor-Centric BPO Models to Cloud BPO Market

Cloud BPO market offering different types of BPO services for diverse industries is expected to grow US$ 94,522.7 million by 2025. The indications are clear and market has already geared up for increasing reach of the futuristic business model.The heart of the matter is, cloud computing is bringing new business growth possibilities in both ways. Providers of cloud BPO services are also hopeful for future of the industry.

Future of BPO - Re-skill workforce

Future of BPO is marching with chin-up on the shoulder of technology upgrade is every form. In fact, the emergence of Data Science, Mobile App Development, CyberSecurity and Robotic Process Automation are creating new opportunities for skilled job roles.

Robotic process automation (RPA) has begun to taken over simple jobs. Foreseeing the increase of RPA, the Indian BPO sector has been preparing to re-skill their workforce.

High demand skills that will take over India’s IT-BPO workforce over in the next five years include robotics, data analytics, various forms of artificial intelligence and machine learning.

Take Away Insights

Cost effectiveness and automated process are sketching new future for business process outsourcing. Though, cloud based technology will lighten up the saturation in BPO industry but, the threat of data security will be a new challenge. To mitigate the risk, BPO industry has to choose cloud vendor carefully. All things together, leading BPO Consultancy Globalhunt is hopeful for 2019 with close emphasis on reducing energy wastage, costs and exploring new horizons of automation.