Outsourcing is evolving, driven by the need for cost optimization. It is also driven by the need to manage complexities arising from multi-sourced environments and to improve responsiveness in economically volatile markets. Enterprises are strategically shifting their in-house IT operations to an outsource model. Chief information officers (CIOs) are embracing a hybrid IT outsourcing model to remain competitive and maximize savings. Companies are transitioning slowly from strictly in-house to a mix of in-house and outsourced co-location services, managed services, and cloud services. Traditional outsourcers are investing in restructuring existing business models to include cloud services in their portfolio of offerings. Due to this shift in business models, governments are concerned about data privacy and security across all industries and are working to develop and implement more extensive regulations in coming years.
Similarly, BPO service providers are extending their offerings to include value-added services, such as data analytics, to move up the value chain. BPO companies in the Philippines and India are scaling up their competency levels by leveraging partnering opportunities to provide end-to-end solutions. In addition, they are automating their sub-processes and using third platform technologies to conduct real-time analysis, improve customer experience, gain control over operations by standardizing business processes, and reduce manual errors.
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