Business Process Outsourcing (BPO) in 2018

Introduction

• Presenter: Liam Martin
• Topic: Best business model of 2018 - Business Process Outsourcing (BPO) companies
• Company: Time Doctor (focuses on managing remote teams)

What Are BPOs?

• BPO: Business Process Outsourcing companies
• Examples: Customer calls from companies like MasterCard are often handled by BPOs
• Benefits: Cost-effective labor; Global reach (e.g., night shifts managed internationally)

Reasons for BPO Popularity

• Cost-effectiveness and simplification of setting up international operations
• Essential for companies aiming to expand globally without setting up foreign corporations

Key Trends in BPO Industry

1. Emerging Technologies

   • Tools: Time Doctor, Slack, Skype
   • Impact: Easier and cost-effective management of remote teams
   • Remote Work: Hiring from small satellite offices or allowing work-from-home

2. Cloud Computing

   • Previous Challenges: Need for central databases and expensive servers
   • Current Solutions: Amazon AWS, SAP systems, Google Apps
   • Benefit: Reduced costs and improved accessibility

3. Multitasking Capability

   • Expanded Services: HR, Accounting, Front Office (e.g., call centers), Back Office (e.g., computer work)
   • Diverse Market Reach: Increased variety of services offered

4. Startups Becoming BPOs

   • Shift: Startups now focusing on BPO models
   • Examples: Innovative companies applying startup methodologies to BPOs

5. Increased Transparency

   • Tools: Time Doctor to track and measure performance
   • Benefit: Improved trust and clear communication between BPOs and clients

6. Political Support

   • Key Countries: Philippines, Indonesia, Costa Rica, India
   • Incentives: BPO zones with relaxed legal restrictions
   • Outcome: Attraction of labor and enhanced efficiency

7. Specificity by Country

   • Philippines: Best for front office work (customer support)
   • India: Best for back office work (development, design)
   • Costa Rica: Excellent for bilingual (English-Spanish) customer support
   • New Markets: Bulgaria, Romania, Ukraine developing niche BPO expertise

8. Market Development

   • Growth: Small remote teams growing rapidly in the BPO sector
   • Example: Clients expanding from 1-2 to 100-200 remote employees within a year

Conclusion

• Opportunity: BPO industry offers significant growth and development potential
• Engagement: Encouraged participation and inquiry into BPO industry

Questions?

• Encouraged audience to leave comments and ask questions about the BPO industry