Perhaps a decade ago, organizations would typically use outsourcing to improve back-office operations through cost cutting and performance improvement. However, the situation has completely transformed and evolved in today’s rapidly-changing business landscape.
Disruptive outsourcing solutions are proving to be of huge benefit to organizations.
It enables businesses to gain competitive advantage and carve the way for change by helping them to leap over the technology chasm.
It helps them to gain top-line growth while paving the way for a more agile, effective back office. Simply put, the approach has changed from traditional work transfer to complete automation.
Unlike traditional outsourcing that focuses on cost cutting strategies and service improvement, disruptive outsourcing is all about collaborating with partners in the marketplace to integrate services an organization cannot quickly build in-house.
According to a Deloitte report, disruptive outsourcing technology has become a major cost-cutting tool.
In fact, 84% of the participants who have initiated contract discussions, are performing pilots, or have already made the transition.
Paving the Way Ahead with Tech Innovation
Outsourcing needs to keep up with disruptive technologies, even if its implementation might seem a little risky to many organizations. The ability to successfully implement these new technologies, then, becomes critically important.
Take Cloud for instance.
It is rapidly disrupting the outsourcing landscape, enabling companies to have a competitive advantage by providing access to innovative technologies.
Its presence in the outsourcing scene has given businesses the opportunity to enhance flexibility and optimize their internal processes.
At the same time, cloud technology makes it a whole lot easier for companies to collect and process large amounts of data and create more specialized services for their customers.
Another area that is slowly taking hold is Robotic Process Automation (RPA).
RPA makes it possible for companies to bring in digital labor that will replace repetitive processes and rules-driven tasks through automation.
With the help of this disruptive innovation, companies can reduce the risk of errors, save up on costs, deliver stellar products, and ultimately, increase efficiency.
Some organizations are adding cognitive capabilities to their RPA in order to help them process and analyze unstructured data, including text, voice, and handwriting.
Roadblocks in the Process
Regardless of its many advantages, disruptive outsourcing does bring with it a set of challenges.
As with all initiatives, delivering competitive advantage through disruptive technology is not that simple.
That is why many organizations require the right vendor with whom they are comfortable entrusting projects and who understand their vision. Only then will businesses be able to implement disruptive technologies to drive performance, improve speed to market, and increase innovation.
Additionally, it is crucial to pay attention to management strategies. Such strategies play a critical role in the successful implementation of technologies.
Both external and internal teams must work in tandem to achieve the collective goal.
With disruptive technologies making their way, businesses run the risk of losing critical data to cyber threats. This makes it vital for business leaders to modify processes to address cyber risks.
Organizations need to recognize the importance of proactive monitoring of cyber risks and be swift in its management. This calls for regular evaluation of processes and consistent enforcement of security protocols.
Are You Ready to Make the Move?
Is your organization ready to pivot itself on the strength of disruptive outsourcing? Here are some key points to keep in kind as you make the move.
- Areas of optimization: While disruptive outsourcing brings forth the integration of your processes, you should still take time to figure out the areas you are looking to transform. From the launch of a new website to improvement in customer support system, disruptive outsourcing can infuse the necessary agility.
- Partnerships: The right partner can help you gain a competitive advantage. But before hiring one, ask yourself if the potential partner will drive efficiency and agility. Look for partners who can grasp the ‘disruptive technology’ model while following the best practices for implementation.
- Challenges: An alignment between your external and internal team is crucial if you want to set up a roadmap for possible hurdles such as data migration issues, compliance challenges, resistance to change, and fragmented processes.
Step Ahead into the Future