Outsourcing overview

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 BPO market is forecasted to grow to USD $113.11 million by 2029.

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 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

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

TASKS TO OUTSOURCE

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

STEP
3

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?

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

About Outsourcing

What is business process outsourcing?