IT Outsourcing Services: An Emerging Business Strategy
IT Outsourcing Services An Emerging Business Strategy: Outsourcing trends are constantly emerging and will continue in the coming years as well. As new innovation and technological developments are progressing constantly, the expansion in the outsourcing industry is getting bigger and more efficient. Every year a large number of outsourcing trends come forward, some of which get dissolve while some evolve at a much larger scale. The basis of outsourcing companies is to provide top-quality services and accelerate the pace of one’s company.
The year 2017 has been an exciting year for the outsourcing sectors but with a few weeks left in 2017, we have come up with some emerging trends that might prevalent in the upcoming year 2018.
Cloud computing is one of the significant trends in the outsourcing sector in 2018. No doubt, 2018 will be a massive workload for the companies resulting in adopting the cloud-based technology. With the increase in workload to the public cloud, Enterprises are dedicated to run certain applications in private cloud environment for security, regulatory or competitive purpose. The cost-effectiveness of better management of client’s problem and requirement will pave the success chart for outsourcing firms. Big giants like IBM, Accenture, and Amazon are like to get more competition from other IT firms.
Intelligent Robotics Process Automation
In the coming years, IT firms will see robotic automation tools become more intelligent. Today, several organizations and IT firms are working on automation to enhance productivity and efficiency at lower costs also continuously working on adding new cognitive features to robotics tools. Computer programs and certain amounts of awareness will be embedded into the robots to replace the humans for repeating work profile in the near future. RPA will rule the roost in the world of innovation, technology, and IT Outsourcing services which leads to larger savings, and enhanced revenue generation capacity.
For example, today IVR (Interactive Voice Response) itself provides basic information to the clients while connective them to the real call center executives as per his requirements.
Increased Focus on Data Security Through IT Outsourcing Services
Another important tend that need to be focused is the data safety. Many firms outsource their work to the consultants so definitely cybersecurity is the important step in the outsourcing strategy and the former will expect a higher level of data security from them. Even a slight data loss could result in a huge loss to the firms.
Many Entrepreneurs disclose that high-tech security systems will now become an industry standard. This awareness is going to propel IT firms and outsourcing ventures to keep on experimenting with security systems to deal with the dilemma of security threats.
A high level of transparency requires between clients and suppliers resulting in a better partnership with business innovation and better investments options. In the past years, most employees on the client side as well as supplier side were not fully informed about technology stack, plans, challenge areas, and other processes.
The introduction of much smaller business has forced the companies to increase transparency and disclose their policies, contracts, and pricing. Due to the high level of competition in the global market, many companies or organizations have to adjust their policies to prevent them from losing business. This coming year, many countries are expected to come out with more transparency policies for the IT Outsourcing services.
Decreased Demand for Call Centers
With the introduction of self-service tools and automated chat-bots in the world, companies are focusing on the superior customer and employee experience. Instead of call centers, companies now emphasize on virtual agents that can handle numerous clients at the same time, automated contact centers will be able to work with higher volumes and less number of agents. Companies are investing in real-time customer engagement to gain first-hand product insights, deliver quality services, and turn issues into new products or solutions that will address future problems. Firms are hiring a newer type of call centers providing IT-enabled services and intelligent assistants to resolve customers’ queries. Chat-bots and virtual agents are beneficial as they could easily tackle a lot of customers at the same time without disconnecting anyone else.
Digital Transformation of Communication
Today, more than half of the population depends upon the digital communication. Companies are also changing their traditional way of communication by leveraging printing service strategies in initiatives that aim at providing best services to customers. Companies now realize that online services, social media marketing, email promotion, and mobile marketing can cause a major shift in consumer behavior. As per the statistics by Hubspot, 70% of the companies would now outsource their SEO services for improved visibility and unprecedented growth of the firm along with website development and mouth publicity. Over the past five years, the consumer demand for digital communications (including social media, live chat, etc.) has exploded. IT Outsourcing Services and Digital communication can enhance a company’s ability to analyze upcoming trends and to innovate.
As per the outsourcing trends, vendor management is required to meet the diverse range of demands for these companies. 64% of the businesses are attempting to enhance their vendor management abilities. They have to change their behavior for the respective clients in order to penetrate and hold the market. Multi-sourcing has brought big impact in the vendor management. It is apparent that clients are concentrated for every possible to convey the challenges of increasing control for complex multi-vendor service models, enterprise-based view to deal with the intricacy of multi-vendor support models to successfully manage day-to-day operational details.
Increase Demand for Big Data Software Developers
In the past years, business companies’ need for agility, accessibility, and greater analysis made the high demand for the big data software in the market. The use of big data software allows the companies to analysis and storage of a large amount of data whether structured or unstructured. Also, it facilitates the platform where the buyers and sellers can: exchange data resources, analytic application, accessibility of information on customers and other resources in real time events and from streaming of a variety of data. So in 2018, the big data software is going to be more adopted and will require a bigger resource pool for big data software developers. The outsourcing companies will need to provide knowledge in using the big tools such as Apache, Sqoop, Hive, etc. Entrepreneurs who are concerned about their companies’ future will have to adopt the automated software.
Usage of Blockchain Technology
With the increasing technology, blockchain has become one of the most interesting trends in the year 2017 and will continue to be in the upcoming years. The technology is offering efficient payment transaction services without involving the third party or middlemen. This has attracted many firms to adopt Blockchain technology, thus, a lot of developers with Blockchain experience will be in demand. As very few institutions offer Blockchain courses thus, there will be a great shortage of Blockchain experienced on the new digital currency technology. Today, banks and other organizations are creating their own online currencies also developing numerous ways to facilitate the use of Blockchain technology such as digital currency loan platforms and other applications. Other than financial firms there are other firms also such as Healthcare organizations, media, telecommunication industries, and legal firms who have stepped up in investing and using new technology.
Specialization of IT Expertise by Outsourcing Companies
As we enter 2018 outsourcing companies with a narrow specialization are likely to get favored and this trend will be the emergence of other technology trends as well as more sophistication of the existing technology. The organizations will get divided and focused on their respective areas of specialization such as Blockchain technology, big data, and automotive software development, bio-engineering among others. IT Outsourcing Services companies specialized in one of the emerging technology are likely to favor job-wise, by clients in the same industry domain they offer for. And these emerging technologies require experts to handle the projects and will create applications and other software solutions for different domains. A customer with a specific technology requirement will approach the outsourcing company who specializes in that particular field. This will leave the customer with wide specialization out of the benefits of the sourcing industry in 2018.
Shortage of the Development Resources Pool
Most IT firms and organizations have discovered how technology impacts their profit-making strategy, especially when they adopt technology that not only facilitates them but also pose threat to them. Therefore many organizations are still in search of technology that helps to remain up to date with their market standard. Yet most of the companies lack the required tech skills thus, they are forced to outsource from other countries. On the other hand, the engineers or the software developers are fewer as compared to the demand in the market, creating a gap between the required work pool of developers and one that is available. Therefore in the coming years, the amount of qualified software developers needs to be increased through training or other IT Outsourcing Services. As per the information from Future of Jobs Report, data analysis and software engineering will be the most trending jobs in next two years.
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