Outsourcing work has become ever more critical in the IT industry, and thus the way that companies approach outsourcing is rapidly evolving. So here is our guide to the most important trends in outsourcing that you need to know about.
Prevalence of the Cloud
Cloud computing has gone from a niche concept to a keystone of the IT environment in a relatively short period of time. As businesses continue to expand their functional capabilities and reliance on cloud computing, it will become increasingly important in outsourcing arrangements. It is already expected that outsourcing associated with the cloud will reach $200 billion annually in the foreseeable future.
Importance of Data Security
There has never been more threat to our data security than in the contemporary climate, and the Internet can be seen as something of a hostile environment in this respect. So when dealing with outsourcing arrangements, it is obviously of paramount importance to ensure full data protection. Even the most minuscule data breach can have massive financial and public relations consequences.
Artificial Intelligence and Robotics
Media reporting on the artificial intelligence and robotics revolution has been highly prominent recently, underlining the extent to which this will be a critical issue for the business community. Robotic process automation, also referred to as RPA, is becoming more sophisticated on a n almost weekly basis. RPA promises enhanced productivity and efficiency, and also the potential to free workers up for more interesting, fulfilling and productive work.
Companies able to embrace this increasingly invaluable artificial intelligence technology will definitely benefit in their outsourcing services.
Shifting Economic Landscape
Outsourcing is obviously associated with moving work from one country to another, and although this will continue in the coming years, the shift in economic status across the globe will undoubtedly have significant impact. For example, China has now overtaken the United States as the country with the highest GDP on the planet, while many other developing economies are becoming increasingly economically significant.
While the Western world won’t exactly be usurped as the dominant economic power bloc, it will increasingly find itself being legitimately rivalled by other economic areas and regions.
Importance of Freelancing
The so-called gig economy has become a staple of the contemporary working environment, and this is only set to expand further still in the coming years, due to several economic factors. This will mean that the smartest and most nimble companies will benefit from crafting arrangements and relationships with the best freelancers, advancing their outsourcing operation as a result. The rise in virtual employment will only exacerbate this trend.
Digital Transformation of Traditional Communication
Marketing has already been transformed by digital communication, but this is becoming increasingly important as businesses target the millennial generation.
Companies are using online services, social media marketing, e-mail promotion, and mobile platforms in an attempt to reach young people. And as the 21st century unfolds, this will become the primary way of communicating with markets and customers. This is just one way in which outsourcing will continue to evolve in the coming years.