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Accounting & Bookkeeping

Top 10 Outsourcing Trends to Watch Out for in 2022

As a result of the global pandemic and ever-evolving digital technology, new outsourcing trends are surfacing across all industries. While budgeting and time constraints continue to be prevalent factors, there are also a number of new patterns to be mindful of in the coming year.

1. Remote Work
Unsurprisingly, remote work is one of the biggest trends we’ve seen in the market lately. Working from home or away from the office in any capacity became the new normal during the pandemic, but it will certainly continue to be a viable option for many companies. In fact, according to Gartner, 51% of global talent will be working remotely by the end of 2021. Remote work offers flexibility both for the individual and for the business, cutting down several costs, such as expensive office leases, on-site equipment, and more.

2. Cloud Computing
With remote work on the rise, cloud computing has also found popularity among many industries. Businesses that have transferred their core infrastructure, functions, and processes to the cloud are said to be better positioned to succeed and stay one step ahead of the competition. According to Statista, the global market for cloud computing is expected to reach $482 billion by 2022.

3. Better Cybersecurity
Of course, the rise in expansive technology creates an overwhelming demand for better cybersecurity. New and unheard-of security threats are continuing to surface, and businesses need measures to protect sensitive information. A growing number of cybersecurity-focused jobs are projected to be available in the coming year.

4. Robotic Process Automation (RPA)
Robotic process automation (RPA) is an emerging technology being adopted by business process outsourcing (BPO) service providers. RPA uses bots to automate repetitive business processes, improving efficiency and profitability for many companies.

5. Niche Talent Hiring
With the variety of new technologies surfacing during the pandemic and in the coming years, the need for more niche professionals continues to grow. However, it can be time-consuming and costly to build a specialized in-house team, so many companies are outsourcing tasks to vendors with expert talent.

6. Cost Efficiency
Cost efficiency is often cited as one of the most common trends in outsourcing, and this is on track to continue in 2022. In 2020, Deloitte’s Global Survey stated that 70% of companies named cost reduction as their main outsourcing objective.

7. Strategic Partnerships
Strategic partnerships are also a leading trend, forecasted to take off in 2022. Having grown out of their strictly supporting role, outsourcers are eager to collaborate with external experts. Companies are beginning to realize the value of establishing more personal long-term partnerships across all aspects of their business.

8. Adaptability
According to Deloitte’s 2020 Global Outsourcing Survey, pandemic conditions began prompting businesses and service providers to become more flexible with respect to the traditional work model. To compete within the market, outsourcing providers have to ensure that their work models are both adaptable and efficient.

9. Progressive Web Apps (PWAs)
The demand for more progressive web apps (PWAs) is projected to rise in the coming year. PWAs are designed to create a mobile application-like experience on traditional websites. They are a simple and cost-effective option for businesses that may not be ready to commit to developing a mobile application but still want to provide the ideal user experience for their clientele.

10. Improving Customer Experience
Quality customer experience can give brands a leading edge in 2022. More companies are beginning to outsource their customer support services to keep up with high volume demands. According to the Global Call Center Outsourcing Market 2021-2025 report, the call center outsourcing sector is expected to increase by $14.05 billion between 2021-2025.

In the wake of the global pandemic, outsourcing trends continue to evolve. Becoming familiar with these new trends can help you prepare for the coming year and set your business up for success.

By John Bugh

John Bugh is Chief Revenue Officer for Pacific Accounting and Business Services (PABS), responsible for the strategic direction, planning, vision, growth, and performance of the company’s marketing, branding, and revenue streams.

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