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      Outsourcing market snapshot

      The global BPO industry is expected to grow at a compound annual growth rate (CAGR) of 8.5%, reaching a market value of U.S. $620 billion by 2032(1). The convenience and cost-effectiveness of BPO services have led to an increased demand for BPO outsourcing companies.

      A recent report by Global Industry Analysts(2) highlights the growth potential of the BPO industry, with key findings such as:

      • The finance and accounting BPO segment is set to grow at a CAGR of 5.8% and reach over $20 billion by 2027, led by countries like Australia, India, and South Korea
      • The U.S. BPO market was estimated at around $70 billion in 2020
      • Latin American BPO markets are expected to grow at 5.1% in the same period
      • The top global hotspots for BPO outsourcing include countries like the Philippines, known for their expertise in BPO outsourcing services.

      The market leaders and global hotspots for business process outsourcing include:

      THE PHILIPPINES

      In 2020 alone, the Philippines outsourcing industry employed an additional 23,000 people, increasing the total number of BPO employees in the Philippines to 1.2 million

      INDIA

      Caters to over 56% of the world’s BPO needs and is expected to employ 1.1 million people and deliver annual growth rate of 50%

      MEXICO

      The healthcare BPO market is expected to reach USD $33.46 billion by 2026

      SOUTH AFRICA

      22% year on year BPO industry growth over the past 4 years

      EUROPE

      The healthcare BPO market is expected to reach USD $33.46 billion by 2026

      Why outsource business processes and what are the benefits?

      Organisations are always looking for ways to improve efficiency and reduce costs. Whether your business is facing challenges with growth and scalability, or increasing wages due to economic changes, outsourcing business processes can provide a solution for sustainable growth.

      Here are some of the main benefits of outsourcing business process services:

      Reduced costs

      Reduced costs
      Save up to 70% on employment costs

      Expert support

      Expert support
      A reputable outsourced provider can help ensure your outsourced journey is optimised for success

      Improve staff satisfaction

      Improve staff satisfaction
      Increase employee satisfaction and decrease staff attrition rates

      Business growth

      Business growth
      Foster sustainable business longevity by reinvesting into the growth of your business

      Flexibility and availability

      Flexibility and availability
      Help your business become more agile and flexible by opening up 24/7 availability

      Access a global talent pool

      Access a global talent pool
      Give your business the ability to tap into a global talent pool to source candidates from anywhere in the world.

      How to select the best BPO company?

      Choosing the right business process outsourcing company is crucial to ensuring that important metrics are achieved and maintained. Before making a decision, it's important to understand the company's operations and ask the right questions about aspects such as holiday and leave, security, human resources, recruitment, invoicing and account management. By asking the right questions that dive into how a BPO company operates, you can ensure that you partner with an outsourcing company that aligns with your business goals and can effectively support them.

      How to select the best BPO company?

       

      HOW TO GET YOUR BUSINESS OFFSHORE READY?

      In order to get the most from hiring offshore staff, it’s important to prepare your business so that you are offshore ready. Here are three steps to take to ensure your business is prepared for outsourcing:

      STEP
      1
      About Whats in it for me
      TELL YOUR STAFF

      The most effective way is to engage your team up front, sharing your ideas and vision with them in order to manage any initial push back straight away.

      STEP
      2
      About The Process Review
      TASKS TO OUTSOURCE

      Clearly define the tasks within your business that you are going to have your outsourced team complete.

      STEP
      3
      About Top Tech
      GET THE TECHNOLOGY RIGHT

      Keep your software up-to-date to ensure smooth sailing. Make sure you have a computer, headset, webcam and web conferencing platform to allow for seamless communication with your outsourced team.

      WHY CHOOSE BEEPO AS YOUR OUTSOURCING PARTNER?

      Who are wer and how can we help

      Beepo offers exceptional business process outsourcing services across various industries, including technology, financial services, accountancy, NDIS, real estate, and professional services. Our primary goal is to help businesses increase margins and grow sustainably with the support of offshore staff.

      BPO outsourcing is accessible to businesses of all sizes at Beepo. We offer a variety of affordable business process outsourcing solutions to meet the unique needs of businesses looking to succeed in both domestic and international markets. Our teams are based in Clark, Philippines, which is equipped with state-of-the-art infrastructure, facilities and technology. The Philippines is known for its highly educated English-speaking population, making it an ideal location for outsourcing business process services.

      Find out what services you can outsource with Beepo here.

      References
      1 https://www.prnewswire.co.uk/news-releases/business-process-outsourcing-bpo-market-to-be-valued-at-us-620-bn-by-2032-exclusive-fact-mr-report-849089433.html
      2 https://www.reportlinker.com/p04778730/Global-Business-Process-Outsourcing-BPO-Services.html?utm_source=GNW

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