The Impact of Covid-19 On the BPO Industry
What Is the Impact of Covid-19 On the BPO Industry?
Covid-19 has adversely affected almost every business and industry. The business circumstances that Covid-19 has brought about are unprecedented, which is causing several organizations to scramble to adjust.
The impact of Covid-19 in the BPO industry is complicated and multi-faceted, and many BPO companies are still implementing changes to accommodate its effects. The BPO industry is hugely fortunate to function digitally, allowing BPO companies to continue to work with minimal health and safety risks for employees.
However, this does not mean that the BPO industry changes have been easy to implement. Not every BPO company was designed for team members to work remotely. In fact, most BPO companies operate out of an office with dedicated equipment, software, and hardware.
BPO companies have made several technological and digital changes to continue to function at the optimal level virtually. The impact of Covid-19 on the BPO industry is far-reaching and influential, and we’ll explain some of the most pressing changes in further detail below.
How Digital Innovation Can Save BPO Companies Facing Adversity
Right now, digital technologies and platforms are paramount. Even before we found ourselves amid a global pandemic, everything was already becoming increasingly digital. Because of this, BPO companies must stay up-to-date and even ahead-of-the-curve with their use of digital technologies.
Digital innovation can drastically shift a company’s progress. A BPO company that is facing adversity can turn their whole future around with cutting edge digital innovation. The impact of Covid-19 on the BPO industry has shown how essential digital platforms are for carrying out operations virtually.
When you implement digital innovation, your entire operation is made more accessible, affordable, and accurate. Adding revolutionary digital innovation allows BPO companies to succeed and thrive like never before.
The Future of BPO Companies Post-Coronavirus: Long-Term Effects
The impact of Covid-19 on the BPO industry will result in several long-term effects and changes for BPO companies. BPO companies can continue to do well if they respond and adjust to these changes accordingly. Below are three primary long-term outcomes for the future of BPO companies post-Coronavirus:
Increased Flexibility - With everything going on, BPO companies have needed to adjust rapidly to continue functioning and serving clients. BPO companies that have adopted a flexible model can continue to advance. If BPO companies cannot meet the changing conditions and needs of their clients, those clients may turn elsewhere.
Improved Responsiveness - Responsiveness has always been a great asset for BPO companies, and it is even more essential right now. Businesses are currently facing new issues every day. BPO companies that can anticipate issues, and react quickly and positively ensure that these issues do not become crises.
Digital Adoption - Digital platforms have been at the center of business process outsourcing since its origin. As most BPO professionals are currently working remotely, digital adoption for BPO companies is imperative. Digital resources must now accommodate every business process, communication channel, and operation.
What Changes Have We Seen in The BPO Industry During the Pandemic?
In addition to the long-term effects that will shape the future of BPO companies, several changes have already begun to occur during the pandemic.
The changes that we have seen take place affecting the impact of Covid-19 on the BPO industry fall into seven main categories:
Organization
In the past, BPO companies operating out of one office provided onsite leadership. The impact of Covid-19 on the BPO industry has forced BPO companies to rethink their spans of control. BPO companies must make it easy for leaders and team members to access one another, delegate tasks, and collaborate virtually.
Location
The typical BPO scenario before the pandemic featured one onshore hub to streamline processes effectively. Many BPO companies found that their infrastructure was not equipped or optimized to handle the shift to work-from-home. Therefore, BPO companies must be capable of meeting demands, whether it’s offshore or onshore.
Channels
Communication channels made a big difference in the impact of Covid-19 on the BPO industry. As professionals were accustomed to working from one space, in-person communication was simple and easy. Now, BPO companies must optimize traditional channels so that communication is not slowing down any other operations.
Technology
Your typical BPO office before the pandemic featured desktop computers equipped with the software and hardware necessary for employees to carry out operations. Now, BPO companies must adjust their technology to allow employees to access these resources from their homes while maintaining security.
Customers/Clients
BPO customers and clients found themselves in the uncharted business territory during the pandemic. For some, the last thing on their mind was how they were going to use outsourcing. The most common fields for clients to utilize during this time were data-related processes, analysis, and forecasting.
Processes
BPO companies have been gradually adopting more automation into processes to increase efficiency; however, these processes were still driven by people. The pandemic has forced BPO companies to transition quickly to rely more on automated techniques to ensure accuracy and efficiency.
People
Before the pandemic, your typical BPO team included driven, full-time employees, working close to one another with leaders nearby. As these employees now work remotely, collaboration can be difficult if you’re unprepared. BPO companies have had to shift to virtually supervise and support their employees in this work environment to maintain productivity.
