Outsourcing Review 2020 and the Road to Disaster Recovery
The pandemic brought a wave of disruption most enterprises were unprepared to cope with. Smarter, better-prepared businesses were able to mitigate the negative effects by digitally transitioning. Outsourcing, thus rose to the occasion, as a global contributor to Business Continuity solutions.
The need for the Work-from-Home model arose from the very same wave. As some organizations struggled to adapt, others blended remote-functionality into their everyday processes flawlessly. Where critical data security became a concern, secure Third-Party Service providers allayed the risks. Cloud platforms became the trend and Hosted or Managed Services emerged as efficient, collaborative alternatives to the traditional, onsite teams.
Outsourcing in 2020
Suited to the changing status of the current economy, Outsourcing allows the utilization of offshored staff. While the primary reason for choosing it may be to reduce overall costs, other benefits are undeniable. Better resource allocation, access to talent with high expertise, 24/7 operations, clear pricing models, and no downtime; are only some of the advantages of outsourcing. Moreover, it is viable for even small to medium enterprises, which allows efficient working and easy scalability.
According to a researchandmarkets.com report, the global Business Process Outsourcing market is forecast at a 7% growth rate during 2020-2024, an estimated $76.9 billion.
Some commonly outsourced tasks include IT Support, Back-Office Services, Marketing and HR, Contact Center, and Accounting services. You can outsource anything nowadays, especially with digital connectivity across platforms linking people in real-time, globally. This is why remote-teams work superbly and parallel in quality to domestically staffed teams.
How Outsourcing Can Future-Proof Your Business
Choosing the right partner when outsourcing is critical; they need to take up your cause as their own. The US is one of the top leaders utilizing outsourcing to offshore destinations. Cultural affinity plays a great role when handling business relations, which is why destinations like the Philippines, China, India, Pakistan, Mexico, and similar others are top choices for outsourcing IT and Tech Support services. To ensure uninterrupted workflow in the future, outsourcing can help with:
∘ Remote Monitoring and Management of infrastructure and systems
∘ Customer Lifecycle Experience Management
∘ Compliant and certified operations with reporting and QA metrics
∘ Latest Technology and Automation to migrate from legacy systems
∘ Sustainable design with extensive R&D
∘ Focus on strategic business expansion and adaptation to changing trends
Embracing the disruption and creating new methodologies to administer business operations is the way to progress in the new normal. With industry leaders putting their efforts towards networking in a cohesive, collaborative way; Co-sourcing is another form of Outsourcing emerging gradually. Where risk/reward shared models and services are surfacing, Managed Services are in the limelight even more. If there is one thing the COVID-19 pandemic taught everyone, it’s the significance of Data Back-up and Redundancy in Cloud or virtual spaces.
The Unexpected Need for Disaster Recovery Models
Pre-existing cloud-technology within organizations enabled them to continue operations despite global lockdowns. Amidst these unforeseen events rose the realization that all industries must possess a Disaster Recovery Plan (DRP). These precautionary measures cannot just be about technology; they must accommodate a Work-From-Home workforce as well. Your team in action should be able to allay geographical problems, be disparate and dispersed across the globe, and sustain long-term.
Needed critically in the work mode of today, constant communication is vital for a remote workforce to continue operations. Such requirements are easily facilitated through MSPs or Hosted Virtual Desktops.
The Disaster Recovery as a Service (DRaaS) market is forecast to grow at 12% CAGR in 2019 – 2024. – According to Marketwatch.com
Considering the failure of operations across many industries during the lockdown times, it is even more essential that a recovery system is put in place. To assure continuity in any upcoming situations similar to pandemic 2020, one must possess a partner prepped to alleviate any technical hurdles.
Premier BPO utilizes low-cost labor arbitrage for dynamic, round-the-clock, remote-ready, and disaster assured operations. Streamlining technology and manpower, our workforce is geographically dispersed and highly capable to support all your business functions. To know the full extent of industries served by us, please visit our page.