Impact Report: How COVID-19 Is Transforming the BPO Industry

After having to completely transform overnight, the BPO industry now finds itself poised at its next impasse. Is work-at-home simply a business continuity plan, or is it the new table stakes for the industry. It’s at these moments it’s good to take a measured review of how ready the industry was and what it’s doing to prepare for the future.

Everise and our experts collected data and research from industry analysts, including Bain & Company, Baird, McKinsey & Company and others, along with Everise internal data and laid our own expert analysis on top to come up with a COVID-19 Impact Report for the BPO industry.

In this report, you’ll learn three things:

1. The BPO industry’s preparedness for Work-At-Home.
2. How COVID-19 has impacted industry demand.
3. How the industry is preparing (or not) for the future.

Impact Report: How the BPO Industry is Responding to COVID-19

Key takeaways:

1. Act fast and be flexible
   When change comes, it comes quickly. BPO’s who were already transforming and have agile, accessible leadership were able to respond in a fluid and dynamic way.
   
   
2. Fortune favours the bold
   BPO’s with strong partnerships were able to make decisive decisions early on. Half-measures led many in the industry swimming upstream as government restrictions increased and pressure mounted.
   
   
3. Capitalize on the favourable labour market
   With unemployment increasing and the pandemic ensuing, worlions of people around the world.
   
   
4. Commit to a holistic long-term strategy 
   The crisis has highlighted weaknesses in BCP’s that many did not foresee. Capture the most value and performance with a blended and distributed CX workforce.

The Everise Point of View:

Everise CEO, Sudhir Agarwal highlights:

We are steadfast that the optimal outsourcing strategy of the future is one that is globally distributed, blended between work-at-home and brick-and-mortar, made of full-time employees.

This approach offers the optimal flexibility to mitigate risk and address unknown outcomes on how COVID-19 will impact the global and regional economy, and their respective workforces, in the foreseeable future.