Business process outsourcing (BPO) has helped many businesses to streamline their processes and improve the efficiency of their organisation. This will reflect directly in customer experiences and thereby increase the popularity of a brand. This is brought about by better speed, understanding the concern of a lead, responsiveness and the competitive rate of BPO services. Processes such as contact centres, operations, peripheral activities are some of the things that are generally outsourced. This trend has been on a rising trajectory and shared below are some of the trends for BPO services in 2020.
As years pass by new entrants are coming into the market Of BPO services and as a result, the competition is increasing. So, to differentiate themselves, players are providing tailor-made services for organisations. This is done by offering specialised training for employees in newer technologies or finding new sectors that require BPO services like fintech and e-commerce. The explosive growth of the telecom sector in developing economies has accelerated the growth of e-commerce and fintech, and they are going to need to outsource their business processes. There is a higher requirement for outsourcing customer services and back office operations.
Omnichannel Approach For Better Customer Retention
Now quality customer service is a basic standard for any business process outsourcing (BPO) services and it is expected by organisations. Customers use multiple types of devices to interact with businesses and hence it is required to provide omnichannel customer service. This will create a better experience and satisfaction for the customers and will retain them. So, BPO services are enhancing their capabilities in each medium of omnichannel communication.
Providing Analytics Services
Data analytics is becoming a major driving factor for business growth for corporations and businesses. They use this information to specifically cater to the needs of customers on social media and also use social media data analytics to understand customer behaviour. This helps them to offer better products, services and customer support. As a result of this growing demand for data analytics, this is a new service for BPO companies to enter.
AI Assisted Voice Response
With the emergence of omnichannel customer service, businesses want the experience on every communication channel to be of similar quality. So, BPO’s will have to acquire AI powered voice response for this and they can use AI to analyse the transcript data from customer conversations to deliver a better omnichannel experience.
These are some of the major trends that business process outsourcing companies will be leveraging in the coming years.