5 BPO Industry Trends and Business Tips from 2021 that we’re bringing into the New Year!

With over 1,000 BPO companies in the Philippines employing 1.3 Million Filipinos, the business process outsourcing industry in the country continues to grow and improve. Due to rapid developments in technologies, being up to date with BPO industry trends is crucial for companies to adapt, provide premium services, and keep up with the competition.

In this article, let’s talk about the BPO industry trends, best practices, and statistics that influenced 2021 and will continue to be observed in 2022. 

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Advancing the Skills of BPO Professionals

One of the biggest BPO industry trends that can be observed in the last few years has been companies venturing into knowledge process outsourcing or KPO. While BPO allows you to outsource non-essential aspects of the business like back-end and back-office support, KPO is a branch of business process outsourcing that allows the outsourcing of highly-skilled professionals with a variety of expertise. For example, outsourcing your company’s business/market research, legal processes, writing/content development, or data analytics.

With these advances in the industry, BPO companies and professionals must do the same. To be able to drive customer success, it is important to keep each team member highly trained and adept at carrying out a wide range of business processes. It’s always best to partner with BPOs that have teams of professionals that can effectively learn new skills quickly – this allows businesses to build a process that lasts with their BPO partners.

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Bigger investments in cloud computing and data protection

2021 saw a significant increase in businesses employing the use of cloud computing or the delivery of different services through the Internet. This includes resources like databases, data storage, and software. With the emergence of remote work, cloud computing became a necessity rather than a luxury. According to a cloud adoption survey for 2021, decision-makers plan to move 34% of their workforce to telework in the long term with at least 40% of Fortune 500 companies expected to undergo a digital transformation.

With that being said, it is important for BPO companies to be able to adapt to these changes. The most successful BPOs in 2021 are those that were able to support a remote workforce. Rather than having your teams working from a central headquarters, outsourced teams have been working from home in the past year – especially with the quarantines and restrictions implemented in early 2021 by the Philippine government.

It is undeniable that cloud computing has been one of the BPO industry’s best tools to weather the challenges of the last year, the platform also put a bigger focus on data protection. With almost all business data across the world available through the cloud, it is highly imperative for BPO companies to have top-of-the-line training and tools to ensure the protection of business data.

Companies like Sourcefit regularly ensure data security and regulatory requirements compliance. While we ensure compliance with the General Data Protection Regulation or GDPR, Sourcefit also follows the Data Privacy Act of the Philippines when handling all business data – especially those of our customers. The Data Privacy Act of the Philippines puts strict regulations that must be followed in handling all types of data, be it personal or for businesses, making the Philippines a great choice for outsourcing.

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A need for stronger communication tools

With the advent of remote work and cloud computing, the equipment of stronger communication tools and omnichannel communication has been a game-changer for BPO companies. To ensure that quality service will not falter even as teams work from different locations, tools that allow for seamless communication have been integral in the success of BPO companies in the Philippines.

The use of omnichannel communication has proven beneficial to both employees and consumers as this offered a seamless communication experience. BPO companies, like Sourcefit, utilized omnichannel communication for their teams as well as to clients and consumers to improve user experience and keep close personal support for each customer.

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The growth of social media as a customer service platform

One of the fastest rising industry trends in business process outsourcing is the use of social media as a customer service platform. At the beginning of 2021, Forrester predicted a 40% increase in digital customer service interactions as the pandemic increased reliance on online shopping, digital financial services, and telehealth (virtual care) options. 

Bringing your business’s customer service to social media means interacting with your clients where they already are – thus creating a seamless customer experience and raising overall satisfaction. For the business process outsourcing industry, this means an increase in demand for content moderators, live chat support, and customer service professionals. Outsourcing your social media customer support not only answers the need for quick response and resolution (40% of customers expect businesses to respond within the first hour after they reach out!) but is also a much cheaper alternative to hiring an in-house team – not to mention how much faster implementation can be by outsourcing!

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A focus on transparency in BPO relations

One of the biggest industry trends in business process outsourcing is transparency – on policies, contracts, and most importantly, pricing. The success of partnerships between a company and its BPO service provider depends on trust and how well they are able to work together. In order to build trust with customers and increase satisfaction, BPOs must provide clarity and 100% transparency from the get-go. 

Here in Sourcefit, we understand that outsourcing involves bringing a third-party organization into your business’s crucial matters. That’s why we offer a  close personal approach to each of our customers to ensure their growth and give them control over how to effectively manage and control this vital part of their business.

Ready to build an outsourced workforce with a partner you can trust? Get in touch with us and let us create custom-fit solutions for your business.