Over half of companies outsource, says study

WASHINGTON, UNITED STATES — More than half, or 55.6%, of companies globally outsource their business processes to third-party service providers, said B2B Reviews & Rating platform GoodFirms. 

In their latest study, GoodFirms revealed that out of the three BPO categories, 44.4% of businesses prefer offshoring, 32.1% opt for nearshoring, and 17.6% choose onshore based on their outsourcing requisites.

The top five outsourced business functions and services are accounting, marketing, IT management, human resources, and customer care. 

On the key reasons for outsourcing, 75.5% of respondents said they choose to outsource to increase productivity, 62.1% want to reduce operational complexity, and 58.3% want access to quality resources and services.

“The world is witnessing increasing robotic process automation in the BPO landscape.

High-end and diversified services will replace cost as a key differentiating factor in selecting BPO providers,” said GoodFirms.

Of those not currently outsourcing their business services, 18.5% said they are now in the initiating stage of partnering with a service provider.