The traditional outsourcing industry was heavily impacted by COVID-19, but the pandemic had a surprisingly positive effect on Business Process Outsourcing (BPO). Believe it or not, the BPO industry got busier. While lockdowns closed cities around the world, business had to go on, and outsourced accountants were more in-demand than ever! Now, with the gradual return to our ‘new normal’, the outsourcing industry is poised to be more relevant than before. Let’s look at why that is.
Traditional outsourcing was hit hard
The outsourcing industry as a whole was hit hard by the global pandemic. Traditional outsourcing for manufacturing and production was derailed as supply chains were interrupted, lockdowns caused shutdowns, and global corporations – such as major car and technology brands – reported challenges ordering components. However, among the chaos, one outsourcing industry in particular flourished: Business Process Outsourcing.
BPO industry worked through lockdowns
In complete contrast to traditional outsourcing, the BPO industry was almost perfectly set up to handle the imposed pandemic control measures. When the Philippines went into a very long and strict lockdown in mid-March, BPO employees kept their jobs and happily kept working.
For example, at The Back Room, a BPO company with an office in Clark, Philippines, all staff were flexible with working arrangements and adapted to work from home right through the lockdown. As the employees already work ‘remotely’ from their offshore clients, they were very confident with the idea of remote work and had systems and technology in place to easily handle the change. Although, one employee did mention they missed Starbucks!
Big increase in demand for BPO
In addition to a positive lockdown performance, the BPO industry also saw COVID-19 cause an increase in demand. In particular, outsourced accountants were busy, as clients needed more help than ever, but across the board, demand for BPO grew. BPO clients were suddenly forced to improve their online offerings and technical capacity, and the resultant need for services and assistance kept the BPO industry busy.
Outsourcing will be more relevant than ever
So what will the world look like after COVID-19? Outsourcing will be more relevant than ever before! Outsourcing and remote employment are ideal for creating safer workplaces, and many companies are considering outsourcing now to make their offices mostly remote. For those businesses rebuilding after forced spending and staffing cuts, BPO also offers a cost-efficient option to safely rebuild.
Could you use outsourcing to rebuild your business?
Learn more about using Business Process Outsourcing for your corporate COVID-19 plan here.