Business processing outsourcing is heavily dependent on technology. Consequently, BPO companies are constantly evolving and adapting to implement the latest and greatest technology trends that will help them succeed and grow. The top technology trends helping BPO Companies at the moment are as follows:
1. Artificial Intelligence
Artificial intelligence, robotic process automation, and machine learning represent some of the top technology trends helping BPO companies. When artificial intelligence first emerged in business processing, it was seen as a threat, as it could replace the jobs of many BPO professionals.
However, artificial intelligence actually stands to boost the BPO industry and help BPO companies improve their efficiency even more. The use of artificial intelligence in the BPO industry is lucrative and far-reaching, as almost all of the top technology trends helping BPO companies involve some form of automation.
For example, BPO companies can serve their financial clients with artificial intelligence by relying on automation to process accounting spreadsheets. Another BPO Company might work with a manufacturing client using data analytics to improve the supplier's performance.
A BPO company can also use chatbot sand voice recognition to fulfill customer service matters quickly, efficiently, and accurately. With artificial intelligence, BPO companies can work faster, accomplish more, and deliver exceptional results at a low cost.
2. Cloud Communication
Cloud communication is one of the top technology trends helping BPO companies because it is easy, simple, and cheaper than software-based communication. Cloud-based communication means that the communication platform is hosted on internet infrastructure.
Because these communication platforms are stored on the internet, anyone with a computer that has been granted access is able to use them. This allows companies to better connect with their customers, clients, and even team members.
Several BPO companies already utilize cloud-based communication. With everything stored on a central site that is reachable via the internet, you never have to worry about anyone's location to get work done.
3. Data Analysis & Management
Data analysis and management is one of the most common fields in the BPO industry. Big data has powered business process outsourcing for years, and the technology must keep up to meet your client's needs.
As data analysis technology continues to advance, businesses are able to gain more valuable business insights. Some of the best new data analysis and management tools include:
4. Unified Communication Services
Unified Communications as a Service (UCaaS) incorporates all business channels into one, central hub. With this technology, businesses can easily collaborate, communicate, and gain insights from their information.
As unified communication now acts as a service, businesses do not need a full IT team of intense IT infrastructure. Communication and productivity are streamlined to increase efficiency, which is why this is one of the top technology trends helping BPO companies. The communication methods that are unified include:
5. Consumer Journey Mapping
Consumer journey mapping is the process of creating a visual representation of the consumer's interaction with your business. This allows companies to step into the shoes of their customers and clients to see the organization from an outsider's perspective.
A consumer journey map illustrates each of the consumer's possible entries and touch-points across all channels. Then the customer will proceed through the predicted steps until the purchase decision.
This new form of technology is advantageous for companies and businesses to utilize. With consumer journey mapping, businesses are able to see all possible scenarios and forms of interaction that their potential consumers experience. Consequently, you can take active steps to connect with these consumers accordingly.
Consumer journey mapping is lucrative for BPO companies to take advantage of as well. BPO companies that use consumer journey maps for their work are able to be successful because they have a blueprint of the consumer's experience.
Additionally, BPO companies can offer consumer and customer journey mapping as a service to their clients. Businesses can outsource consumer journey mapping to a BPO provider to save time and money on this lucrative project.
6. Vocal Recognition
Vocal recognition technology benefits BPO companies that offer customer relationship management, like call centers. Voice recognition is actually a specific type of artificial intelligence that uses algorithms to translate a caller's spoken word into a command.
The system is then able to respond to the spoken word with an appropriate response. Call centers that use this form of automation have received a lot of flak over the past years because customers feel as though these systems do not understand what they are saying, which causes frustration and an overall bad impression.
Fortunately, vocal recognition continues to advance and get better as one of the top technology trends helping BPO companies. As voice-enabled devices become more and more popular, the technology is improving significantly.
With the new improvements and innovations in vocal recognition, BPO companies are able to reduce costs, grow productivity, and enhance their customer service experience substantially. The BPO industry is no stranger to voice recognition technology, but it is improving, advancing, and excelling.
7. Social Media Tools
Social media has become a driving factor in the average consumer's purchase decisions. Today's consumer wants to get to know the brands that they are buying from, working with, and giving their business to. Therefore, it is essential that businesses utilize social media properly.
One of the great things about social media is that it is extremely user-friendly. Creating a social media account can be accomplished in moments by the average young person; however, managing social media and using it successfully is a much more delicate art.
In recent years, the BPO industry has adopted different social media tools and technologies to help their clients in a more comprehensive way. Some of the services that BPO companies offer in social media include but are not limited to:
These are just some of the many social media services that BPO companies offer. Outsourcing for social media is extremely beneficial for businesses because it allows you to focus on core matters while experts are handling your social media.
BPO companies that do not yet utilize social media tools should invest in this sector to succeed and thrive in the coming years. BPO companies at the forefront of social media tools can attest to why it is one of the top technology trends helping BPO companies.
8. Some Things Can't Replace Humans
Automation and artificial intelligence offer the BPO industry an incredible opportunity to optimize processes and maximize efficiency more than ever before. However, full reliance on automation over humans presents a few challenges.
Artificial intelligence's emergence in business process outsourcing was initially seen as a danger that could jeopardize countless jobs in the BPO industry. As automated systems and machine learning has been acquired by BPO, it is clear that some things can't replace humans.
While this new technology offers an excellent way to accomplish certain repetitive and time-staking processes, it does not mean the end of the BPO employee. Machines are great, but they do not have the nuanced understanding of goals, insights, nor the ability to be flexible.
The best use of artificial intelligence in this field combines the use of automated systems with human oversight, guidance, and intervention when necessary. This combination yields minimal errors and delivers satisfaction.