Business Process Outsourcing Australia | MET

Tracing the Growth Trends of Business Process Outsourcing in Australia

Globalisation has led businesses to connect with new contacts and leverage opportunities. Amidst the robust business networking system, the global rush is directed towards outsourcing.  The explosion of third party service providers and professionals doing freelance work, business process outsourcing is now a more accessible tool for even the smaller companies to afford. 

As business process outsourcing is spreading all through the world, it is also generating more jobs in the developing countries. As a result, the developed countries like business process outsourcing Australia are able to generate business with the manpower from the developed countries.

Trends Of Business Outsourcing In Australia

Business outsourcing in Australia has become the bigger scenario in the past few years, and more companies are joining the league to take advantage of business outsourcing. Shifting some of the company operations offshore or providing those to a third-party service provider has led to a huge boost in the growth of the business.

According to the latest industry analysis report, the steady growth of the top BPO companies in Australia owes its success to the increasing demand from downstream business.  This trend and the growth rate of business process outsourcing are expected to continue over the next few years. Business will gravitate towards offshore locations in search of new business opportunities.

Apparently, the outsourcing of business process trend is more towards the demand of huge technical expertise and talent, particularly in human resource, finance, recruitment and IT. As the web of online work is spreading, outsourcing in Australia has also grown from technical sector to the non-technical one like article writing, legal and translations services.

The primary cause of companies to outsource their business is to save on overhead cost. However, for Australian companies, the main reason for outsourcing is to be able to leverage the top talents from around the world. Their goal is to achieve operational efficiency at the same time, maintaining and increasing the quality.

Reasons Australian Companies Outsource

Apart from the practical and business benefits, Australian companies yield from business outsourcing; there are also other benefits to keep a note of.

•    Flexibility

Through the process of outsourcing, Australian companies are able to build a business that scales. Flexibility is provided to the entire business process as they are not tied up to backend office tasks. Moreover, they are also not the usual tedious and mundane business operations.

  • Low Cost Of Entry

For many Australian companies, accessing and running an outsourced business model has made it possible to break the crowded café industry and that too at lowest entry cost. And where the entry cost is low, the risk is also relatively low. The company outsourced the production and distribution of their products and services. This eliminated the need for investing in logistics, labour and machinery.

  • Accessing The Technology

The small Australian businesses, outsourcing their business models are enabling them to access superior IT infrastructure or advanced accounting programs, which is otherwise hard to afford.

New business opportunities are generated through business process outsourcing as it is bridging the gap between end users and the manufacturers.

Top Outsourcing Trends for 2017-2018

We are in the second half of 2017 and now it is essential to look for the business environments and outsourcing trends for 2018. There is no denying that business process outsourcing trend is changing as per the client’s demand. In the opinion of the subject matter experts, the end of 2017 and the beginning of 2018 will bring a substantial shift in the rise of new business process outsourcing trends.

The significant impact of business process outsourcing Australia will keep the impact on the major areas such as automation, faster deals; cloud computing, service provider’s role, finance, and healthcare and so on.

Trend #1 Prioritising Security

Security is going to play a pivotal role in the outsourcing strategies in 2017-2018. Due to the emergence of the Internet of Things (IoT) and telematics, the security risk has become a widespread issue for the commercial products and consumers. A BPO projects outsourcing company will be expected to provide a better solution to address the concern of security weakness and deliver a robust security solution.

Trend #2 More Services Requirements

Towards the end of 2015, there was a prediction that the cloud computing industry would reach a $121 billion worth. In consequence of that trend, companies are expected to utilise the cloud-based technology and produce high-quality services. Now, the prediction for 2017-2018 is indicating that the work will be lightened up with the automated process and cost-effectiveness. Its impact will result with creating many opportunities for competition. Customers are likely to purchase more services from BPOs, cloud service providers and ITOs.

Trend #3 Makeover Requirements for Vendors

As per the outsourcing trend, vendors are required to adjust more so that they can meet the diverse range of demands for these companies. Till now, they have twisted their customers by offering low prices. Now, they need to change this behaviour for the respective clients in order to penetrate and hold the core markets.

Trend #4 Vendor Management in Mainstream

In the vendor Management, multi-sourcing has brought big impact. The clients are looking for every possible way to address the challenges of increasing control for complex multi-vendor service models, the VMO (vendor management office) is going to establish itself as the service provider for high-level, enterprise-based view for managing day-to-day operational details.

Trend #5 Faster Sourcing

Since technology is progressing at a slower pace, it is expected that outsourcing decisions are going to be faster in the next few months. Companies that are already following a digital strategy will execute them quickly in 2018. They will be benefited by a technology shift or jumping ahead a competitor.

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