The pandemic has not only challenged healthcare systems around the world but has also affected businesses and economies. Unprecedented interruptions to business-as-usual have quickly cascaded across industries. Recently, however, many countries are reporting fewer cases while others are increasing exponentially. Amid this uncertainty, the need for agile recovery strategies for businesses remains unchanged.
In this article, Maquiraya and Associates, Inc. looks at various outsourcing trends that could help businesses navigate into the new normal.
Accelerated Digital Transformation
Before the pandemic, a paradigm shift towards digitization was already underway. Current events, however, have pushed the outsourcing industry so that it is now at the forefront of technology.
Traditional outsourcing models have already started to fall apart, and automation, cloud computing, and other disruptive technologies are becoming ubiquitous. Many emerging technologies encouraged outsourcing companies to create new digital execution strategies, maintain digital systems, and integrate business continuity strategies across various digital platforms.
Embracing Remote Work
Organizations globally are experiencing unprecedented workforce disruption, but outsourcing companies are rising to the challenge.
Since their employees were already set up to work remotely, their focus is already on utilizing collaboration technology to boost productivity and preserve company culture. The outsourcing industry was able to harness digital technologies to streamline operations and automate manual processes. These helped their clients navigate massive workforce shifts and establish business continuity.
Diversifying Expertise
In the past, outsourcing was only an opportunity for big companies. But in the new normal, startups and small businesses are looking more and more into outsourcing to improve efficiency and business growth.
The present outsourcing market shows that 52% of small businesses will continue to outsource especially non-core functions, even in the post-COVID-19 economy. Since these businesses usually cannot afford or do not have access to the necessary resources to build a team from scratch, they eventually turn to outsourcing to increase available expertise.
The Outsourcing Roadmap to a Post-Pandemic World
The coronavirus is continuously changing the way we live and work. In the new normal, it will be essential to establish long-term strategies for greater resilience. The outsourcing industry has been on the lookout. It is thriving with the above trends even years before the pandemic, providing a proven roadmap that could better prepare your company for future disruptions.