The Business Process Outsourcing (BPO) industry is becoming vital to the U.S. market. In today’s economy of doing more with less, it is important that companies can outsource services offshore in order to be more competitive and have more opportunities to innovate, which in turn will create more jobs at home.
On an international market level, the Business Process Outsourcing (BPO) industry is projected to grow over the next five years, on top of the growth it experienced from 2000 to 2012. Analysts forecast the global BPO business analytics market to grow at a compound annual growth rate (CAGR) of 37.42 percent during the period 2016-2020. (1) Global Industry Analysts, Inc. reported that BPO is projected to reach U.S. $220 billion by 2020, driven by the mounting pressure among companies to rationalize costs, improve operational performance and increase customer satisfaction. (2)
With the increase in growth that is expected for the entire industry as a whole, DR Republic, known for its diverse experience, multi-shore delivery capability and focus on operational excellence, expects to be right in the forefront of growth in the global BPO and Contact Center market.
Outsourcing is critical for U.S businesses to not just succeed, but to stay relevant. BPO has been providing businesses with a way to cut costs for years, but current technologies, and the ability to provide an exceptional customer service experience for every client is being employed within BPO to enable businesses to lower costs and be more competitive. The revenue of the global outsourced services industry rose steadily year-over-year from $45 billion in 2000 to just under $100 billion in 2012. (3)
“We want to provide our clients with innovative solutions and customized technological capabilities so they can optimize their business costs while enhancing customer engagement,” said CEO, chief executive officer of DR Republic.
Outsourcing is no longer just about cost saving; it is a strategic tool that will power the twenty-first century global economy. The benefits have been well documented proving it is one of the few business techniques that can transform a firm fundamentally and increase its productivity and competitiveness 10- to 100-fold. As offshore outsourcing increased from 1970 to 2002, the U.S, economy boomed. It’s service jobs increased from 47 million to 107 million. With a typical spend of approximately two percent of the value of the company’s outsourcing contract to manage its relationship with the outsource provider, business leaders can no longer afford to view outsourcing as a mere operational tactic; it is now essential to remaining competitive on the world stage, and today, more than 90 percent of companies have cited outsourcing as a crucial part of their growth strategy. (4)
CEO stated, “The U.S. is one of the most innovative countries in the world and we are excited to see such growth there in the BPO market. As a business, we have invested our resources, energies and strategies to build a high-growth organization. The economies of scale that companies like us can provide will help spur growth and innovation, and more global expansion.” CEO went on to explain that creating efficiency and developing the most advanced technological skill sets will help companies keep costs down to create more opportunities for more services and jobs in the U.S.
DR Republic provides comprehensive contact center and digital media solutions. They also have a decade’s worth of experience in expert direct response trial solutions. DR Republic serves brands across the world in more than 10 countries and several languages. Their success stems from experienced and highly trained Subject Matter Expert (SME) support representatives, who ensure an exceptional customer service experience for every client. DR Republic simplifies complex end-to-end BPO services, bringing together the right people, technology and processes to deliver improved customer engagement, control operating costs and provide its clients access to innovation and world-class capabilities.
CEO added, “Our ability to adapt, and continuously refine our skill set has enabled us to grow while still maintaining the discipline and focus needed to fulfill our customer commitments. We are committed to our clients’ success and we are looking forward to opportunities for future growth in the market.”
Companies must develop a people first approach to be successful in today’s economy and do so while offering the best services with support, quality, infrastructure and man power, all with competitive pricing. There are many drivers that are creating this paradigm shift – disruptive technologies, cloud computing and a new generation of young adults with more global awareness and empathy than ever. The traditional transaction model for doing business will soon go by the way side as companies discover shareable value and find partners where they can capitalize on their scalable advantages.
About DR Republic:
DR Republic is a leading global business process outsourcing company, providing a broad range of services and solutions in digital technology and operations. DR Republic offers business value to many global clients combining operational excellence with expertise in key industry verticals including, Direct Response, Financial Services, Travel and Healthcare. For more than a decade, DR Republic has simplified complex, end-to-end BPO services to bring value to its clients while creating efficiency and productivity with measurable results. By combining highly trained specialists, technology and processes, DR Republic delivers improved customer engagement, controls operating costs and provides its clients access to innovation and world-class capabilities. DR Republic serves customers across the globe in several different languages, operating in more than 10 different countries. Visit us at https://www.drrepublic.com/about/
- “Global BPO Business Analytics Market 2016-2020.” Research and Markets. Web. researchandmarkets.com/research/kwhz4n/global_bpo
- “Adoption of value added BPO services to drive gains in the business process outsourcing market, according to a new report by Global Industry Analysts, Inc.” Global Industry Analysts, Inc. Web. prweb.com/releases/telemarketing_services/procurement_BPO_market/prweb12627933.htm
- “Getting A Piece Of Business Process Outsourcing.” Forbes. Web. forbes.com/sites/greatspeculations/2015/06/22/getting-a-piece-of-business-process-outsourcing/#4da571416f90
- “The Outsourcing Revolution, Why it Makes Sense and Hot to Do It Right.” getAbstract. Web. https://www.economist.com/media/globalexecutive/outsourcing_revolution_e_02.pdf