By: Katie Johns
As the coronavirus wave attempts to “sink many ships” worldwide, some “captains” are adopting more subtle ways of staying afloat. The airline industry has suffered the most significant blow with a massive $29 billion loss in revenue. Nonetheless, the coronavirus pandemic continues to sting the world economy, as companies begin to swallow the bitter pill of business unusual. Nevertheless, for the clinical CEOs and business leaders, outsourcing is giving hope to the continuity of business.
The IT and BPO sector is a $190 billion industry, which faces a sharply bipolar division of business growth and business continuity. With world leaders issuing stern warnings and lockdowns, companies are forced to send staff home – some to continue with work, while others on temporary leave. COVID-19 has served the world with a problem, not even the elite expected. This has made many companies swerve off track, hoping to get back on their feet, but with the anticipation of failing to survive.
IT/BPO sector in India
Source: Nasscom 2019-2020
One massive challenge that working from home poses for the IT industry is data theft and the leaking of sensitive information. However, Indian IT firms have lobbied the government to permit the use of office virtual private networks to connect to the homes of millions of workers. The US alone accounts for more than 65% of India’s IT industry and has witnessed smoother cushioning during these hard times. IT outsourcing companies in India, like ISHIR, have hired more staff to maintain the lights of numerous businesses worldwide. With many enterprises running to “intensive care units,” IT offshoring is acting as a life machine to keep them alive. Here’s how your company can leverage on IT offshoring and why it works effectively:
Thanks to the wizardry of technology, tech companies in India are utilizing collaboration tools to ensure their staff can work remotely. The digitization of information has also contributed to an increased bandwidth, which gives companies an open chance to outsource IT/BPO to low-wage countries. Outsourcing services range from analytical activities, mobile application development & maintenance, database administration, network operations, disaster recovery, web hosting, software programming, to research, and even call center duties.
Interesting Read: How IT Outsourcing is Helping Global Companies Amidst This Global Corona Lock-down
Boosting customer participation
An agency that connects with clients, thus, creating a potent bond is crucial to maintaining a profitable company. Due to the humanitarian aspect of the coronavirus pandemic, empathy is key to sustaining a good reputation. It is not easy to retain current customers, not to talk of converting prospects into clients. This is notably worse, thanks to the global COVID-19 nightmare.
This is a great time to engage customers remotely and find out what they need. If your company cannot deliver the needs, then outsource. Keep things running!
Technology, again, has come to the rescue of humanity amidst current adversities. It has helped firms maintain a high level of quality for a lower cost and has improved productivity. Through automation, robotics processes automation (RPA) and artificial intelligence (AI), have made firms complete a load of repetitive assignments quicker and with greater precision. This has increased operation speed in a turn of events from the current sluggish movement. It also boosts the supply margin and efficiency of the cost to buyers. For companies, this translates to increases in revenue and ROI.
Cloud technology has led to an improvement in efficiency while cutting down costs. Thanks to this innovation, companies provide their customers with services and products that meet current trends. According to statistics, an average of 95% of SMEs have taken up cloud technologies for outsourcing.
Privacy and security
Perhaps the biggest concern emanating from companies is the privacy and security of customer and business-related data. As pointed out earlier, employees are now being forced to work from their homes as a result of the lockdown. In light of recent claims on data misuse and breaching, many companies have turned their focus on security and privacy. Any slight glitch can lead to massive damage and losses. Luckily, we prepared for this eventuality, and that is why we invested in data protection and security. We also made investments in network security, access management, and identity management.
In wrapping up, as the world grapples with the novel coronavirus, the war is not just for the health sector but also for the business industry. You can still keep operations running and avoid having a business burnout through IT and business process outsourcing (BPO).
Id you are still confused about the decision of outsourcing, please reach out to our IT Outsourcing experts to help you reach on conclusion.