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Outsourcing Trends You Should Know

With the advent of digital transformation, outsourcing is a practice that many businesses have heavily relied upon to remain competitive. This increases efficiency, reduces overhead, manages operational costs, and drives innovation. Furthermore, it has also proven itself to be a giant player even in challenging global times. Its resilience and substantial ability to cater to many industries’ short- and long-term goals has become a favoured solution for companies. This is especially now that we are still adapting to the new normal of the post-pandemic world—and it isn’t entirely over yet this 2022.

The global outsourcing market is ever-evolving, and the demand and needs of society continue to shift. As a business owner, it is essential to keep tabs on the current outsourcing trends to help you navigate the terrains, manage your resources, and optimize your organizational productivity and efficiency.
Do not get left behind! Instead, take a look at the outsourcing trends you should know about this year.

Greater Preference for Work From Home Set-Up

We’ve seen how the COVID-19 pandemic has dramatically changed how we work. More and more companies restructure and close down their traditional-based offices for mobility restrictions. With this, the new normal of the global workforce has indeed transitioned into a remote work arrangement. And with its flexibility, over 70% of workers prefer to keep this norm despite the pandemic slowdown.

On the other hand, many businesses also realized the potential, benefits and new opportunities of working from home. As a result, they make remote outsourcing a pivotal drive to perform such vital projects. Through remote outsourcing, businesses can hire a vast pool of specialists from all parts of the globe. They can also collaborate on one project or long-term cooperation. With cloud infrastructure, which allows workflow execution anytime and anywhere, outsourcing becomes a smart choice for companies.

The work-from-home setup trend will likely remain so even beyond 2022 as businesses will continue to rely on this work model to improve and maximize their operational productivity.

Prioritize Quality and Value

A study published by GSA UK in 2020 stated that the quality and value of outsourced goods were companies’ top priorities.

Businesses now emphasize providing high-quality and valuable services for their esteemed consumers on a large scale. And to make it possible, they’ll need advanced technology and a skilled group of people — which can attain through outsourcing to third-party providers.

Some of the most outsourced services that companies avail are human resources tasks like recruitment and payroll management, software development at the core of software outsourcing, bookkeeping, administrative jobs such as virtual assistance, and business process outsourcing (BPO).

In addition, outsourcing allows employees to offer their clients customized solutions. As a result, outsourcing companies are more likely to have the expertise, time, and resources needed to customize solutions than an in-house team.

Enhance Cybersecurity

As the world becomes increasingly digital, so too will threats to our cybersecurity. These days, it’s not enough to have an in-house IT team to keep your network, data, and application secure. You need to be proactive about safeguarding your company against cyber attacks. One way to do this is by outsourcing your cybersecurity needs to a trustworthy IT service third-party provider.

When businesses outsource their IT needs, they can work with experts who can help them identify and fix any security vulnerabilities and mitigate risks. It will then help companies avoid costly cyberattacks and data breaches like fraud, identity theft and phishing scams.

In the coming year, enhancing cybersecurity must also work with all work models. For example, with employees now adapting to remote working, they are exposed to more sensitive data rendered outside a company’s firewall. As a result, the traditional way of protecting it is not enough.

Businesses should consider outsourcing their IT needs to strengthen security measures and data protection and ensure infrastructure reliability.

Utilize Modern Technology

One should always know that to stay competitive, businesses must keep up with the latest trends in technology. Here are three of the most popular outsourcing trends that are reshaping how companies operate:

  1. Robotic Process Automation (RPA): is the use of software to automate repetitive, routine tasks. For example, RPA can process invoices, fill out forms, and extract data from websites. It is a cost-effective way to improve efficiency and accuracy because it enables businesses to save time and money by reducing human intervention.
  2. Rise Of Cloud Computing: Another key area where businesses are benefiting from modern technology is cloud computing. Through the cloud, companies can store data and apps on remote servers. This helps the organization save money on infrastructure costs.
  3. Artificial Intelligence (AI): From chatbots that handle customer service queries to predictive analytics that can help businesses make better decisions, Artificial intelligence plays a highly imperative role in the industry.

More Strategic Partnerships

As businesses become more globalized, they are looking for ways to be more efficient in their decision-making. One way to do this is to partner with other companies that can provide complementary services. From manufacturing to healthcare, the trend has been spreading for quite some time.

Outsourcing is one type of business seeing increased demand for its services. Outsourcing companies can help businesses with various tasks, from marketing to human resources. By partnering with an outsourcing company, businesses can focus on their core competencies and leave the rest to the experts.

With the benefits of more strategic partnerships, it’s no wonder that this trend is on the rise.

Conclusion

The data is clear. Outsourcing is here to stay and will continue to grow in the future. Businesses of all sizes are turning to outsource as the world becomes more connected. Navigate the outsourcing trends above to develop a strategic plan for successful outsourcing!

To attain more desirable outcomes, partnering with an excellent outsourcing marketplace like The Lead Enquiry can make all the difference for your company!

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