A guide to the world’s top BPO hotspots

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Due to the technological advancements and cost efficiency inherent in its setup, Business Process Outsourcing (BPO) has easily become a go-to resource for companies to increase capacity and flexibility in their operations. And with increasing demand for outsourced work, several countries today are now particularly attractive to foreign companies big and small as they offer a diverse range of outsourced services.

Based on Tholons’s Top 100 Outsourcing Destinations report, India, the Philippines, and China are currently the most established outsourcing destinations in the world:

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India. Techinasia.com attributes the growth of India’s BPO industry to its market size, which is comparatively bigger than that of other Asian countries like the Philippines. As of 2012, the country had 2.8 million citizens employed in BPO companies, while the Philippines had just an estimate of 750,000 in the same year.

Philippines. Over the years, the Philippines has become a rival to India. According to an Oxford Business Group Report, the country’s BPO sector is expanding by an average of 20 percent annually. In 2013, the Associated Chambers of Commerce and Industry of India (Assocham) reported that India had lost over 50 percent of BPO industry to foreign competitors, with majority of lost business relocating to the Philippines.

China. Like most Asian countries, China has a good majority of educated young people in its workforce. Unlike India and Philippines, however, the country lags in terms of industry size, language capability, and intellectual rights protection.

With the demand for BPO growing every year, BPO companies need to go beyond their clients’ expectations to retain competitiveness in the global market.

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An expert in BPO, Cox and Kings Global Services is an agency that is focused on serving consular sections of diplomatic missions. Follow this Facebook page for more information about the company.

Best practices for achieving high performance in a BPO

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Business process outsourcing (BPO) has become an effective and efficient management practice adhered to by most companies around the world. Because of its current success, the BPO industry has subsequently entered a new phase of development that requires continuous innovation and discernible improvement in expertise and business solutions for its clients.

To meet these goals, BPO companies must offer new value propositions with a strong business impact. Instead of focusing on cost reductions alone, BPOs must craft new strategies across all aspects of their operations to guarantee high performance at each stop.

Here are some of the widely best practices BPO companies are observing today:

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Adapt an end-to-end approach: According to Infosys BPO, a holistic approach in management can bind multiple functions. For example, both client and provider could collaborate to focus on the operation’s overall process, such as in the rationalization and standardization of its operations.

Prioritize value over cost: According to research by Accenture, majority of high-performance businesses will consider service options with greater value, even at higher cost. In today’s competitive market, entrepreneurs are now looking more on the benefits of a specific rather than fixating on reducing costs.

Explore new frontiers: A journal article by MIS Quarterly Executive emphasizes the importance of new technologies in leveraging the performance of service providers. An example of this is the adaption of automated programs and software to eliminate bottlenecks and improve productivity across all business functions.

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A BPO specialist, Cox and Kings Global Services is a company that provides administrative support and management for non-judgmental tasks related to the entire lifecycle of a visa, passport, and consular application process. Follow this Facebook page for more information about the company.