Outsourcing back office solutions such as web data entry may not directly affect a company’s operations but it is seen to be an important factor in hastening business processes, it may not be as big as the other industries falling under outsourcing, however it is a back office outsourcing is an important as the more popular ones including contact center outsourcing, finance and accounting and research outsourcing. When looking at a company’s budget and the market has already found ways on how to address the concern among companies, the labor is one of the most expensive expenses. The market has tapped back office outsourcing to be a key factor, especially because it can directly lower a company’s costs. One of the usual processes that the companies delegate to the solutions providers is their data entry services. Including the services that can definitely increase the productivity of one’s company as well as help in organizing information gathered.
China is not yet legally open to conduct business while there is a growing interest by financial institutions and banking companies towards back-office outsourcing, the back office outsourcing is not limited by specific industries. Even the top financial companies are already tapping into back office outsourcing. Quarterly the results from back office solutions providers show that there has been an increase in revenues by as much as 40 percent in the previous quarters. This may be due to an increase in banking and financial customer or companies spending more on outsourced solutions.
Citigroup and Bank of America are just two of the many financial companies that are outsourcing some of their back-office and Information Technology solutions. These two banks mentioned have their eyes on Indian solutions providers including Tata Consultancy Services and Wipro Limited, it is driven mainly because of the cheaper labor costs that the country is offering. The research conducted by Ovum, it is an industry analyst firm,talks about outsourcing trends including trends in back office outsourcing. The companies will be a governement bodies that will be seeking the services of the back office solutions providers.
The financial and banking companies as well as government bodies may have been outsourcing some of their processes, it seems that they have discovered new methods to make their processes even more convenient o the end, without sacrificing the growth of the outsourcing industry, this is mainly because expansion is one of the indicators of growth, aside from an increase in the demand for such services and the amount of signed deals between companies. There is a high probability that back office outsourcing will be at par with the other more popular branches of outsourcing in the future.
REFERENCE:
http://www.blog.infinit-o.com/back-office-outsourcing-attracting-new-clientele/
