Outsourcing provides a competitive advantage to a business by enabling staffing flexibility, reducing costs and turn around time, providing scalability, and giving access to world-class technology.
These benefits have contributed to significant growth in the outsourcing industry. Business process outsourcing spending is expected to go up to $212 billion in 2023.
According to research, the global outsourcing market stood at USD 245.9 billion in 2021. It is expected to further increase at a compound annual growth rate of 9.1% between 2022 and 2030. Here are the top outsourcing trends for 2023 every business should be aware of:
Automation, Artificial Intelligence (AI) & Machine Learning (ML)
Modern technology, consisting of automation, the Internet of Things, and software development constantly upgrades. Businesses want to adapt to the modern technology for higher efficiency and simplified operations. However, doing this in-house can be expensive due to the constant upgrades in technology and software. Instead, more and more businesses are leaning towards outsourcing companies for expert technological services.
With this, the global Artificial Intelligence (AI) and Machine Learning (ML) outsourcing market is expected to grow at a compound annual growth rate of 38.1% between 2022 and 2030. Businesses that do not want to stay behind this trend can partner with a leading outsourcing company for technological advantages.
Global outsourcing partners like ARDEM provide OCR and ICR Data Capture, AI & ML-based solutions, Cloud Computing, Service Bots, and much more to help clients gain a technological edge in global markets.
Outsourcing for remote workers will also be a big trend in the coming years. With more than 51% of knowledge workers expected to choose remote working in the coming times, businesses need to keep up with the trend and adapt to remote and hybrid working. Outsourcing provides access to global talent to a business, without mandating a physical presence in offshore locations.
Businesses need not incur staffing and training costs for overseas in-house staff and can rely on the expert and scalable teams of expert outsourcing partners like ARDEM. The readily available talent pool at ARDEM brings experience and expertise to a business at much lower costs. Moreover, the ARDEM Cloud Platform and ARDEM Collaboration Platform are excellent tools for global teams to connect and work in coordination.
Remote teams of businesses can use these secure and technology-driven platforms to interact with team members across the globe and transfer files, view progress reports on various projects, give feedback, and resolve issues.
The economic activity picked up the pace by the end of 2022 on a global level. Business start-ups and small businesses can become a beneficiary of this growth by using outsourcing services. Outsourcing back office activities, accounts payable, accounts receivable, utility bill management, data entry services, and much more, can help small or new businesses get access to the best-in-class tools and talent pool for economical prices. Additionally, it creates more room to focus on core business activities when outsourcing experts take care of the time and labor-consuming business activities.
Businesses that make customer service a key differentiator in 2023 will have a natural competitive edge across industries. Outsourcing for lower costs, improved efficiency in operations, and shorter turn-around time is going to be in much demand in the coming year and beyond.
ARDEM provides Business Process Outsourcing and Business Process Automation Services to established companies to help them improve operational Efficiency and Reduce Costs. For more information please reach out to us at email@example.com or call us at 908-359-2600.