Rise in Competition to Drive Global Front Office BPO Services Market: Ken Research

Posted May 19, 2020 by Anita1111

Business Process Outsourcing (BPO) enables industries in outsourcing their responsibilities or operations of a process to third-party service providers.
Business Process Outsourcing (BPO) is transfer of the services from industries to outsource their responsibilities or the operations and process to third-party service providers. The term front office BPO services include the services provided to customer interactions in an inbound or as the outbound sales, help desks, customer service centers, and telemarketing offices. The front office BPO services also include some of the document management services associated to accounting and finance. The outsourcing of front office outsourcing services includes the outsourcing of clients having direct contact with BPO service providers. They usually deal over clients via email, calls, messages etc. These services process the tasks such as customer service, market research, telemarketing, sales, and help desk etc. operations in their daily routine activities. Some of the key benefits associated to use front office BPO services include reduced costs, increased security, and increased efficiency; improve vendor relations and better coverage.
Some of the key practice adopted by the industries while using of such BPO service includes hiring an external organization performing business functions at front end, for instance troubleshooting, and data management have been increased considerably. The front office BPO services enables industries to saving time, and operational & labour costs. These industries have further developed substantial expertise for design & development of products; however fall customers services owing to limited bandwidth and lack of admittance to resources inaccessible internally have led to outsourcing their operations to a front office BPO, which leverages is further expected to support global knowledge base in accessing world class capabilities.
According to study, “Global Front Office BPO Services Market Size study, by Type (Customer, Management, Service, Document Management Service), by Application (BFSI, Manufacturing, Healthcare & Pharmaceutical, Retail & Consumer Goods, IT & Telecommunication, Aerospace & Defense, Others) and Regional Forecasts 2018-2025” the key companies operating in the global front office BPO services market are Xerox Corp., Hewlett Packard Enterprise Co., Convergys Corp. Sitel Worldwide Corporation, IBM Global Services, Williams Lea Ltd., Ricoh USA, Inc., Atento S.A., Alliance Data Systems Corp., Teletech Holdings, Inc. Several predominant industries are focusing on off shoring their operations to front office BPOs for expansion of their businesses, by gaining access to new markets, and relocating their product base or point of service delivery to areas closer to their end-users.
Based on services type, front office BPO services market is segmented into document management service and customer management service. In addition, based on application, market is segmented into BFSI, healthcare & pharmaceutical, manufacturing, IT &telecommunication, retail & consumer goods, aerospace & defense and others.
The front office BPO services market is driven by rapid economic growth, followed by growth in revenue from human resources, customer relations management, finance & accounting and insurance. Additionally, outsourced agencies provide competitive advantages associated to use of digital channel management capabilities and data protection provisions for the front office BPO service market. However, outsourcing is considered to be unfavorable among decision makers that may impact the market. Moreover, rise in emphasis on non-voice contact center channels and increase in digitization of the customer touch-points are key opportunities for market.
In upcoming years, its anticipated that future of the market will be bright owing to emergence of data protection provisions for outsourcers and digitalizing channel management capabilities during the forecast period.

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Issued By Ken Research
Country India
Categories Banking
Tags global front office bpo services market , global front office bpo services market revenue , global front office bpo services market trend
Last Updated May 19, 2020