Outsourcing service has continued to grow into a giant factor that has changed the global business community over the years. Going by recent statistics, 2019 saw IT outsourcing service netting close to $70 billion, which represents a greater aspect of all outsourcing services put together.
As the rapid changes brought by IT to the outsourcing world continue to expand, studies have pointed toward the enlargement of outsourcing. They projected that by 2020 that over 72% of several companies would put adequate plans on grounds to outsource. Half of this projected number of companies would put consistent plans for achieving this objective.
The growing needs for private companies that are IT-based to supply services are on the increase. There are five outsourcing trends that information Shareholders would be looking out for in this year 2020.
1. Going for more specialized outsourcing
Although this shift has already begun taking effect, 2020 will see to its fuller operations, where outsourcing companies will narrow down to a more specialized niche of services. Sooner, no expatriate or partner will claim to be delivering multiple services. For the fact that people no longer patronize single companies for outsourcing needs, those companies have already started dwindling gradually.
Most big companies will brace up to the challenges of the future to beat their competitors by hiring a wide range of experts. This poses one of those challenges to be encountered in the 2020 outsourcing year.
It is expected that by the end of the year 2020, the BPO would be netting the sum of $220 Billion. This marks this as one of those trends that are quite remarkable. As businesses grow in trust and strife to remain on a competitive edge, companies would not only outsource their non-core services but also their core services.
3. Greater cybersecurity awareness
All the shareholders of the cybersecurity would beef up their strategies towards ensuring well-protected security for internet users. It is equally assumable that those cybercriminals will improve themselves in technological progress too. More companies would be seeking the services of outsourced cybersecurity services.
4. Replacement of manual processes with AI
Just as witnessed last year, 2020 will see a greater number of companies involving in the automation of their business processes with Artificial Intelligence.
5. Less focus on reducing costs
During the year 2020, more emphasis will be placed on delivering value instead of focusing on cutting costs as has always been in the past. This means that the outsourcing of services will be more expert and value-driven. This unfolding trend in outsourcing services is derived from the forecasts of the previous outsourcing event of the past.
Conclusion
Expectantly, IT outsourcing is going to get better than before. There is no doubt that businesses will boom as well as software developments. Following the trending issue of getting a job done rather than to primarily focus on saving costs, businesses will collaboratively surge forward this year amidst competition.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.
Nicky Buckley says: 
5 Outsourcing trends to watch this 2020
Outsourcing service has continued to grow into a giant factor that has changed the global business community over the years. Going by recent statistics, 2019 saw IT outsourcing service netting close to $70 billion, which represents a greater aspect of all outsourcing services put together.
As the rapid changes brought by IT to the outsourcing world continue to expand, studies have pointed toward the enlargement of outsourcing. They projected that by 2020 that over 72% of several companies would put adequate plans on grounds to outsource. Half of this projected number of companies would put consistent plans for achieving this objective.
The growing needs for private companies that are IT-based to supply services are on the increase. There are five outsourcing trends that information Shareholders would be looking out for in this year 2020.
1. Going for more specialized outsourcing
Although this shift has already begun taking effect, 2020 will see to its fuller operations, where outsourcing companies will narrow down to a more specialized niche of services. Sooner, no expatriate or partner will claim to be delivering multiple services. For the fact that people no longer patronize single companies for outsourcing needs, those companies have already started dwindling gradually.
Most big companies will brace up to the challenges of the future to beat their competitors by hiring a wide range of experts. This poses one of those challenges to be encountered in the 2020 outsourcing year.
2. The outsourcing of core services
It is expected that by the end of the year 2020, the BPO would be netting the sum of $220 Billion. This marks this as one of those trends that are quite remarkable. As businesses grow in trust and strife to remain on a competitive edge, companies would not only outsource their non-core services but also their core services.
3. Greater cybersecurity awareness
All the shareholders of the cybersecurity would beef up their strategies towards ensuring well-protected security for internet users. It is equally assumable that those cybercriminals will improve themselves in technological progress too. More companies would be seeking the services of outsourced cybersecurity services.
4. Replacement of manual processes with AI
Just as witnessed last year, 2020 will see a greater number of companies involving in the automation of their business processes with Artificial Intelligence.
5. Less focus on reducing costs
During the year 2020, more emphasis will be placed on delivering value instead of focusing on cutting costs as has always been in the past. This means that the outsourcing of services will be more expert and value-driven. This unfolding trend in outsourcing services is derived from the forecasts of the previous outsourcing event of the past.
Conclusion
Expectantly, IT outsourcing is going to get better than before. There is no doubt that businesses will boom as well as software developments. Following the trending issue of getting a job done rather than to primarily focus on saving costs, businesses will collaboratively surge forward this year amidst competition.
Daven Michaels is a New York Times Best Selling Author and CEO of premiere global outsourcing company, 123Employee. The company employs hundreds of young bright individuals on three continents. His International event, Beyond Marketing Live! Inspires entrepreneurs to build & grow their business with revolutionary new theories and systems allowing them to design the business and personal lifestyle of their dreams.
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