Everise Insights

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

Written by Everise | Apr 29, 2020

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, work-at-home jobs remain the optimal job opportunity for millions 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.

 

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