LONDON, Dec. 18, 2016 /PRNewswire/ -- The business processes outsourcing market comprises of establishments providing business services to companies. Outsourcing business practices enables enterprises to increase their operational efficiency and improve competitiveness. The market is further classified into customer relationship management BPO, human resource outsourcing BPO, finance and administration BPO, and other BPO services.
The Americas was the x largest geographic region in the business processes outsourcing services market in 2016, accounting for $x billion or x% of the global market. Asia was the x largest geographic market, accounting for $x billion or x% of the global market. Europe was the x largest geographic market, accounting for $x billion or x% of the global market. The Middle East and Africa accounted for x% and $x billion, while Oceania accounted for x% of the global business processes outsourcing services market.
Robotics In Business Process Outsourcing –
Many BPO companies are automating processes through Robotic Process Automation (RPA).RPA automates processes that are repetitive, rule-based and frequent. RPAs are considered to be cost effective as they normally cost one-tenth of a Full Time Equivalent (FTE) person working in the US, UK or a third of the cost of an FTE working offshore. For instance, a major bank automated Fraudulent Account Closure, Loan Application Opening and Right Of Set Off processes that saved over 120 FTE and reduced bad debt provision by £175m per annum.