In the tough times of pandemic and worldwide lockdown, outsourcing demands continue to rise. According to a report by Business Wire, the outsourcing market value is expected to reach USD 397.6 billion by 2025.
Several customer-centric organizations have witnessed the potential of the outsourcing industry and how it benefits their businesses. More than 65% of the companies turned to the top call centers in India for outsourcing customer support. The trend escalates during the pandemic, as more businesses are experiencing its benefits, irrespective of their sizes and industries.
Outsourcing offers several benefits, such as increased efficiency, profitability, and reduction in the overall cost of operation. But if you’re planning to outsource support, it’s crucial to know if it is beneficial for your business or not.
If yes, then how?
We’ll be discussing the outsourcing benefits of global businesses during the pandemic and its scope to see if it’s a viable alternative for the post-pandemic world, or not.
How to know if Outsourcing will help your business?
If your business demands developing a synergetic business relationship with your customers, answer their queries, and offer support, then you need outsourcing more than not. Outsourcing customer support gives businesses ample time to focus on core functionality without worrying about operation outside the realm of their expertise.
Today’s competitive market landscape is experiencing a steady dropdown of profit and marginal gains. Hence call centers have faced several challenges to maintain growth matrices. As per the CMO Survey carried out last year, 96% of the companies had witnessed a significant drop in personal marketing engagement. Because of the COVID-19 pandemic, saving is one of the major concerns ahead of the SMEs, and large enterprises.
Business process outsourcing, under such circumstances, emerges as the best choice for businesses to avail several customer-centric benefits at a reduced cost. Know more about the outsourcing benefits. Check out the 2-min video given below.
Today organizations are looking to optimize their resources, as much as they can, and outsourcing is considered a win-win situation for clients, customers, and as well as the service providers.
How Outsourcing helped Businesses Survive the Pandemic?
Outsourcing played a crucial role for businesses during COVID-19. Let’s see how it helped businesses of all shapes, scale and sizes.
Reduces Cost of Operation
Hiring an in-house customer support team is not an economically feasible option if it’s not on your list of core operations. From recruiting to training and deployment of new resources, it takes a lot of research, effort, time, and cost. When most businesses were looking for options to cut down their cost of operation during the pandemic, call center outsourcing emerged as the smart business move.
With a pool of highly-skilled, experienced, and qualified talent capable of managing critical business functions proficiently, call centers helped the business achieve success goals by giving them qualified leads even in the tough time of the pandemic. So, overall it’s proven to be a better option. But if you’re still confused and unable to decide between setting up an in-house team or outsourcing, then read our blog for more clarity.
Better Customer Services
Customer support is crucial for modern-day businesses. A satisfied customer is loyal who will not only make repeated purchases but advocate the brand. Hence, offering value to your customers not only drives sales but also helps your brand.
As more customers have turned to the digital landscape during the pandemic, prompt handling of customer's concerns has become critical for businesses to keep performing. Call centers in India, irrespective of the business size and needs, have helped companies deliver better customer services customized to their capabilities, streamline the processes, and lucrative growth.
After a few months of the COVID-19 outbreak, the global outsourcing market has witnessed exponential growth. Now, the question is will the outsourcing trends remain only till the pandemic lasts or it also has application for the future. Let us find out this in the next section!
What’s the future of Business Process Outsourcing?
As per the recent report by an internationally acclaimed market research firm, “The global business process outsourcing market has the potential to grow by USD 40.16 billion during 2021-2025, and the market’s growth momentum will accelerate at a CAGR (compound annual growth rate) of 4.02%.” If you’re interested in the detailed insights, read the full report here.
No doubt, the global outsourcing market holds extraordinary potential. Now the question arises, what is the future of BPO in India, which we will be discussing next! But first, just have a look at the current stats. India’s business process outsourcing industry is today at $37.6 billion, and looking at the current growth stats because of the pandemic, it has the potential to reach $55.5 billion by 2025.
Is India’s BPO Industry Ready for Global Competition?
India's BPO industry is on the verge of globalization. According to a recent ministry update on liberalizing the special dispensation given to OSP (Other Service Providers), all voice-based BPOs serving customers on domestic and global levels can establish seamless interconnections using the common telecom resources.
With these new guidelines and the benefits offered, India will emerge as the best choice for outsourcing voice-based customer support. The accelerating market growth statistics of India’s BPO industry attracts businesses of all sizes and industries to India for better customer engagement and increased profitability.
Summing It Up
Now when everybody is getting used to the pandemic, businesses are preparing themselves for the post-COVID era. In such scenarios, outsourcing brings several opportunities for companies searching for outsourcing customer support at a reduced cost. If done right, outsourcing can benefit everyone involved in the process, whether it’s customers or the service provider. But, the key to getting benefits of increased productivity and improved customer satisfaction in future is hiring outsourcing services offered by an expert.
So, if you’re looking for a call center in India with a remarkable market presence, Go4Customer is the right choice for you. At Go4Customer, we have fostered a reinforced workforce ecosystem containing a pool of highly qualified professionals having profound knowledge to serve the clients efficiently and satisfactorily. We are here to give you reliable, optimized, and transformative business solutions.
If you’re curious to know more about our call center services, please feel free to contact us at +91-120-6619505. We are happy to help you discover more about our services.