Business Process Outsourcing is steadily moving beyond back-office functions into the arena of revenue generation. This change is primarily due to the maturing of outsourcing buyers. Buyers are increasingly depending on outsourcing for technical expertise and specialized industry knowledge that they lack internally. For instance, outsourcing vendors can become a valuable asset to the buyer by becoming a source of accurate and up-to-date analytics. Analytics, key to an organization’s success, is the means to analyze market and related data in real time, enabling the organization to understand their customers better. Outsourcing vendors can help buyers in revenue generation by providing their expertise and maturity in analytics. Can this model be sustained by the outsourcing vendors to catapult them in the next league of business enablers?
For an organization, utilizing the preexisting and significant skills of an outsourcing seller is a far more astute option than in-house investment in a temporary project. For example, an organization looking to expand into new markets can utilize the specialist knowledge of outsourcing vendors and their knowledge of accurate and current information and trends in that field. This will not only save effort and money for the organization, but will ensure valuable inputs and data that it could not have gathered on its own. Similarly, there are many other areas in which outsourcing sellers can partner buyer organizations to create better business models.
The changing attitude towards the capabilities of an outsourcing vendor is a significant and positive trend. The onus is now on the outsourcing vendors to capitalize on these opportunities by equipping themselves to take care of processes from end-to-end & help their customers do business better. What remains to be seen is will they be able to do it?
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