- February 22, 2019
- Posted by: Lauren Orebo
- Category: Uncategorized
According to data in the 2018 Deloitte’s Global Outsourcing Survey, disruptive outsourcing technology is a major cost-cutting tool that leads to a competitive advantage and revenue growth. Deloitte reports that 84% of their participants have initiated contract discussions, are in the process of performing pilots, or have already transitioned operations. Here is what you need to know about outsourcing if you are looking for ways to increase business initiatives and revenue.
What Is Disruptive Outsourcing Technology?
While outsourcing has been used for decades to reduce operating costs and enhance performance capabilities, disruptive outsourcing technology is influencing corporate policy and procedures because of technologies like cloud computing or artificial intelligence. The shift from back-office tasks to global digitalization has also quickly changed the landscape of outsourcing solutions because of business acceleration and the need to gain an early competitive advantage.
Information Technology (IT) continues to be a major factor in outsourcing solutions, although instead of back-office tasks, organizations now want access to innovative digital disruption technology. Deloitte’s survey also noted 72% of executives wanted to adopt robotic process automation (RPA) while 93% wanted to move some or all of their operations to the cloud. By outsourcing, businesses believe outsourcing reduces costs and increase organizational efficiency.
Robotic Process Automation
While most executives have continuously focused on cost-cutting measures, the 2018 Deloitte Global RPA Survey found that 53% of their participants had already begun to shift operations to robotic process automation and 72% had plans to implement RPA by 2020. Senior managers identified RPA as a critical business function that enhanced their performance, productivity, and functionality. Deloitte also found that executives projected an ROI in less than twelve months
Cloud Computing Transformation
The outsourcing industry has also responded to the need for innovation by shifting from traditional business solutions to technology-based selections like Infrastructure-as-a-Service (IaaS) or Software-as-a-Service (SaaS) cloud computing. Outsourcing agencies are also focusing more of their capabilities on company expansion proficiencies by offering hybrid cloud products and services that allow for tech-based workload growth, scalability, and partnership advances.
Disruptive Outsourcing Technology Challenges
Corporations have found substantial challenges in adopting disruptive outsourcing technology policy and procedure as a means to gain a competitive advantage. Most especially when trying to adopt cloud computing, application development, security protocol, and data migration were among the greatest disrupters that companies experience. Executives cited regulatory compliance limits, fragmentation, and departmental resistance changes as their most significant issues.
Partnering With Outsourcing Agencies
Companies have partnered with the outsourcing industry to find solutions including contractual amendments like heightened security protocols that reduce the risk of loss and evaluation audits. Some companies who contract with multiple outsourcing agencies also use Service Integration and Management (SIAM) to achieve business initiatives that depend on third-party services. Companies find that using SIAM cuts operating costs considerably, improves financial oversight, and increases coordination between in-house management and secondary service providers.
There is no greater risk of Disruptive Outsourcing Technology than there is with traditional business functions. You still get the full benefits of traditional third-party resources, but you also gain access to advanced technology-based products and services without the price tag. If you want additional ways to cut costs, let Frogman Media Group handle all of your multimedia consulting, social media management, graphic design, writing, PR, and digital advertising.