The Rise of the Gig Economy & Business Process Outsourcing (BPO)

15/03/2017

Outsourcing certain elements of everyday business processes is becoming more and more popular every year based on continuing pressure to reduce costs and improve efficiency.

The rise of the Gig Economy is allowing companies of all sizes to outsource certain aspects of everyday business life to specialists who are experts in that field. The Gig Economy received this title as a number of companies sought to outsource specific components of their business processes to professionals as short term ‘gigs’, instead of employing them as permanent employees. These short term gigs can be everything from website and marketing, to accounting and payroll, document management and bureau services and everything in between.

At Datatime Services we have a number of dedicated IT services specifically tailored to meet the needs of most organisations. We do not have any locked in contracts as we specialise in long term or short term projects based on the quality of our ongoing services. Companies of all sizes use our services, typically, in this case, they are looking to outsource their; document management, data capture, in-coming mail, Accounting documents and all other business documents including Legal and HR.

Why outsource your business processes?

BPOWhen we sign on a new client, I always ask them why they want to outsource this stuff. I generally get two replies. The first, they don’t have the resources (IT infrastructure and personnel) in-house because it’s a short term project or they can’t forecast the future need for this person. The second, they have tried in the past and their overheads were massive.

At Datatime we invest in technology and we search for the most skilled staff to ensure that our rates are affordable as the fixed costs are spread across multiple clients. This also makes these services more affordable, efficient and accurate than doing it yourself.

BPO is the next step in business evolution and document automation. In the past organisations were extremely reliant on in-sourcing a lot of these processes to ensure that documents were kept as confidential as possible and their processes efficient. But as a result, doing it yourself actually leads to inefficiency.

Most organisations need to hire a person or a team to manage these processes and will pay a considerable amount in wages and overheads. However, when demand fluctuates, they are stuck with a full time employee.

In-sourcing also means that overheads are high as that a lot of office space is allocated to these processes and storage of documents. At the end of the day, we understand that most people just want their data in a secure and confidential place without having to store boxes of documents.

The rise of the Gig Economy and Business Processes Outsourcing (BPO)

Business Process OutsourcingBPO is a massive market and is steadily growing. It’s projected to grow to US$220 billion by 2020. Leading organisations like Accenture have 46% of their 330,000 staff located overseas which includes employees. These roles are considered BPO service roles as they are outsourced to individuals or third party organisations which help create a yearly turnover of 33.5b.

Asia Pacific is the current leader in BPO growth. As countries outsource to Asia, they utilise inexpensive and experienced organisations to enhance their return on investment as they can’t afford the wages of local talent. BPO is set to evolve, and services offerings are set to diversify given the enormous growth projected by 2020, enabling more and more organisations to be able to tailor services to their needs. The growth of specialised services in niche markets means that organisations looking to outsource a little or a lot of their business processes. Therefore, they can get flexible, tailored services that are cheaper and more accurate than in-sourcing.

Benefits of outsourcing your document management and automation

Data Automation With the rise of the Gig Economy and BPO, it's widely available for all companies to get specialised assistance from third party organisations. No longer do companies need to hire short term individuals to do small tasks where third party organisations can do it cheaper and more efficiently.

Furthermore, this allows companies to reinvest their resources into the more pressing business issues. The business world is now more diverse than ever. Once upon a time, you needed to hire individuals for sales and marketing, administrative and bureau services, accounting, legal and so on. All these elements can be outsourced at a cheaper price with more efficient results. At Datatime we specialise in everything to do with document management, conversion, bureau services and data automation.

Outsourcing your business processes massively reduces risks associated with in-sourcing. We promise to deliver 99.95% data accuracy, meet your timelines and keep your information confidential. Unless you have a dedicated team to monitor and manage these processes, this is seamlessly impossible to in-house without having a team with years of experience, which costs a fortune in wages.

Images: Deposit Photos

Paul Gallo

Paul Gallo – Group CEO & Founder, PNORS Technology Group

Paul is a successful entrepreneur with a proven track record of creating and transforming businesses into enduring, profitable enterprises.

In 1982 Paul established Disprax Pty. Ltd. to coincide with the development of the now highly successful business management solution, Timber Industry Management and Marketing System (TIMMS), a software solution specifically designed for the timber industry.

Since then, based on industry insights and market trends, Paul has strategically extended his portfolio through the acquisition of Pacific Commerce in 2002, Datatime Services in 2009, Netway Networks in 2010 and WilldooIT in 2016.

Paul has extensive experience across all facets of company management, with specific expertise in sales, management, and leadership. As Group CEO Paul oversees the strategic direction of the PNORS Technology Group.