By Charlie Brown
It has only been a few days into the new year, and we are already witnessing significant growth in the outsourcing industry. 2017 has shown the maximum increase in IT related sourcing since the Great Depression. As per a number of reports from experts, the latest stats from the 2017 market shows a 63% likely increase in the market share of the sourcing companies.
Every company needs to update themselves with the latest updates from the world of outsourcing. Research from Outsourcing Insight highlights the current trends of 2018.
Cloud computing to lead the way
Almost all firms will adopt cloud computing in the year 2018. In 2015, markets predicted the share of cloud computing to reach about $121 billion. In 2018, the same experts expect the share to reach a whopping $200 billion, almost double in just three years! The success of an outsourcing firm will depend directly on the customized solutions they can provide to their customers.
AI and robotics will acquire a significant market share
Robotic Process Automation or RPA is becoming more mainstream with each passing day. A combination of AI and RCA can lower the processing cost and increase the effectiveness of the process. Many firms are already replacing their human employees with AI. For example – most companies are replacing their digital customer care executives with ChatBots. The same companies are also replacing customer care trainees with AI and IVR. It can increase revenue generation and boost substantial savings for the more prominent buyers.
Information and data security remain in the fore
As long as people are working with big data, people will be concerned about data safety. 2018 will still be the year of cybersecurity and data security for almost all IT outsourcing companies. Several large firms export their complete processes to external third-party vendors. The former is highly likely to expect better competence when it comes to data management and security. It calls for at least a 128-bit encryption of company data and a completely secure server for online communication between the teams.
Traditional communication is morphing
Technology is still evolving the way people talk to each other. Social media, email and mobile marketing strategies are no longer alternative marketing strategies. Over 70% of all companies with a working website currently outsource their website maintenance and SEO services to developers, coders, engineers and digital marketing teams. It saves the effort of hiring new website designers and marketers, who know the world of Search Engine Optimization. Additionally, the companies meeting the SEO requirement of these firms already have a time-tested experience of improving visibility and ranking power of similar websites.
2018 will see a drastic rise in virtual agents. It will also see a steep increase in the number of companies outsourcing their processes to external teams of highly specialized and trained experts for cost-cutting and high efficiency.
Charlie Brown is a freelance content writer. Recently, he has working for a Pittsburg-based content marketing firm. His mission is to simplify and demystify online marketing for both upcoming and long-established entrepreneurs using tools such as digital signage templates by Dopublicity.com.