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4 Outsourcing Services You Should Look Out For
What’s up with the four major outsourcing services, namely, data and research, contact center, finance and accounting and healthcare? And why should you care? How about let’s counter that question with: “Do you want your company to be left behind?” The global outsourcing market as estimated by Statista.com is worth US$ 88.9 billion as of 2015. This figure shows that companies didn’t mind spending thousands to millions of dollars on vendors because they believe it is a “cost cutting tool and enables them to focus on core business functions.” These are what motivate clients to outsource as found out by Deloitte based on their “2016 Global Outsourcing Survey.” It is also important to identify the type of outsourcing service appropriate for your business. In a blog by Infinit Outsourcing, it was discussed that the type of outsourcing is based on several factors such as task or service provided, location, and relationship involved.
Here are the latest trends about the outsourcing services mentioned above:
- Data and Research
Although Quirk’s Marketing Research Media’s article focused only in the Asia-Pacific, it still gives us an insight of what to expect on this sector. As said in the article, “Market research is no longer recession-proof.” However, clients continue to seek “better, faster, cheaper” ways to benefit from this service. They are expecting “new market research techniques, platforms and processes.” On the one hand, mobile research has yet to hatch.
What is alarming is “clients are experimenting with DIY research.” On the bright side, “it’s forcing agencies to innovate” and offer fool proof research solutions. Moreover, “outsourcing fieldwork and all operations is the new normal” as clients must ably keep up with the competition.
- Contact Center
Treated as one of the oldest outsourcing services, and yet the contact center field has many tricks under their sleeves so they can emerge in the jungle called marketplace. Fonolo shared “Top Nine Call Center Trends for 2016” and there are three key takeaways worth mentioning.
Omni-channel or multi-channel is now the name of the game. Communications channels increased in variety such as telephone, email, websites, IVR touch-tone, web chat, instant messaging, SMS messaging, IVR speech and video chat. Many call centers will move in the cloud and will add more face time (video chat) to interact with their customers.
- Finance and Accounting (FAO)
Infinit Accounting gave a fearless forecast on January this year on what to expect in this ever-growing industry. According to them, companies may move their FAO services in the cloud making data readily available. They also suggest finding where the millenials spend their time most, which is in front of their smartphones, making adoption of mobile accounting a must. Last is the utilization of social media to foster client-vendor relationship and find more prospects.
According to Research and Markets’ “Global Healthcare IT Market 2016-2020” report, this industry may grow at a CAGR of seven per cent during that period. More institutions will embrace electronic health record (EHR) and personal health record (PHR). This is to ensure the delivery of quality healthcare services without worrying much of the paper works and focusing more on patient care.
In other reports, Transparency Market Research also has something to say based on their “Medical Billing Outsourcing Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016-2023” paper. As per their statement, “The rising geriatric population is creating an increased demand for healthcare services around the world.”
Clients and vendors alike should have knowledge of these trends to be able to watch each other’s back. They can use these to check if they’re right on track and still meeting their goals and objectives.